Will I have enough to Live in Udon Thani with this

[BarrieSawadee]

Hiya a bit of advice needed if possible Please

I am not sure if I have posted this correctly so My apologies in advance

Ok this is My situation/Question

I have recently bought 3.5 Rai about 20 Kms outside of Udon Thani

I will be building House,Pool,1.5 Rai for some fresh produce and Fish for Personal Consumption

Solar Powered Pumps for Watering the Land and For The Main Well

1 Jeep and 2 Motorcycles

all of the above will be already Paid for

I will be 45 next Year and I have a Fully Paid For Property in the UK worth about 110000 GBP and about 40000 GBP in the Bank

Do any of You think that I would have enough to Live on for the rest of My Days if I

1 Rented My House in the UK out for 250000 THB Per Year and used interest/Played the Currency Exchange/Minimal Risk Investments (Headaches to come with renting ?)

2 Sold My House in The UK and used interest/Currency Exchange/Minimal Risk Investments

I eat Issan Food and pretty much Live the Thai way Except for some Western Comforts in the House and I don`t drink that much at all these Days

I Woiuld Hope to Live There in about 12 Months Time

Your thoughts Please I hope that I am not being that Naïve

Kop Khun Kap

Barrie

[SunsetT]

........Probably depends on if your partner/wife is high or low maintenance, working etc.

Personally I would not 'burn my bridges' by selling my UK property.

[BarrieSawadee]

No GF not Working Possibilities with earning some Extra Income though.Extremely Low Maintenance She always has been and that`s Living in the UK as Well.Just worried about Problems with Renting out accommodation and having it Vacant at all.

I think that We could Probably get by on Interest alone it`s just obviously a long Term thing without really knowing the Future Economy Etc.

I know I am just Wanting Christmas to come early and all and I really don`t expect to return back to the UK to live again

Thanks for Your reply though

Cheers

Barrie

[balo]

Be careful about burning bridges to your home country . I did it , sold my house but regret it now even if I have interests and enough money in the bank ,

Just rent out your property and live on the income and interests,

[sandmike]

Rather than sell your property, is renting it and using the income an option ?? That way you've got both an income stream, and the property in the UK should you ever need to return (medical treatment ??). Good luck, SM

[Ghostnigel]

Oh dear oh dear....so you are not married? and you have bought the land in your gf's name? Don't sell your Uk house, If things go 'belly up' with you and your gf, you will need your house in the Uk, you will own nothing in Thailand....just be careful what you buy out of the marriage, it will be very difficult, if not impossible to get any of it back....chok dee

[BarrieSawadee]

Oh dear oh dear....so you are not married? and you have bought the land in your gf's name? Don't sell your Uk house, If things go 'belly up' with you and your gf, you will need your house in the Uk, you will own nothing in Thailand....just be careful what you buy out of the marriage, it will be very difficult, if not impossible to get any of it back....chok dee

Hiya Ghostnigel

Yeah fair point I ain`t quite that Mad Yet though

Put small deposit on Land which We are Paying up in Full on Our next Visit also intending to Marry then

We have been together for quite a Few Years now and We do know each other pretty well

I am unsure Whether to Marry just before Land Purchase or after though Your Thoughts ?

I read somewhere that it was better for Me if things went wrong that She had Possessions before We Wed ? doesn`t sound right to Me either

30 Year Lease Will also be put in place at time of Land Payment/Signing as Well

Cheers Again

Barrie

[BarrieSawadee]

Be careful about burning bridges to your home country . I did it , sold my house but regret it now even if I have interests and enough money in the bank ,

Just rent out your property and live on the income and interests,

Hiya balo

Thanks for the reply

We would intend to fly back once a Year as I have got a lot of Family over here(Accomodation to stay in )

Are You saying that I would not necessarily be Crazy to make the move in My current circumstances

Cheers Barrie

[gerry1953]

I have to assume you have a Thai lady first.

Before jumping in financially make sure the relationship is rock solid (the rose colored glasses come off).

Once the relationship is time tested then commit yourself a bit more financially but only as much as you can afford to lose should things "go south".

This is Thailand and many farangs get stung badly the first time around. (some many times)

New car, motorbikes, house and land all at once sounds like a giant leap of faith for a newcomer to Thailand. If you proceed get as much as possible in your name or under your control.

Don't burn your bridges in the UK until you are very comfortable with your relationship and Thailand - conditions can change.

At 45 - visa options?

The 30 year lease wouldn't be fun if you were surrounded by a bitter family - it may even be hazardous to your health???

[BarrieSawadee]

Rather than sell your property, is renting it and using the income an option ?? That way you've got both an income stream, and the property in the UK should you ever need to return (medical treatment ??). Good luck, SM

Hiya SM

Thanks for the reply

That was one of the scenarios in the original post

I am just a little bit worried about any problems with the House/being Vacant at times etc.

As far as Medical things go I was hoping to use Medivcal insurance and I have heard that the Medical Treatment Standards are quite high over there ?

Do You think that I would not be Crazy either way if I made the move in My current situation ?

[BarrieSawadee]

I have to assume you have a Thai lady first.

Before jumping in financially make sure the relationship is rock solid (the rose colored glasses come off).

Once the relationship is time tested then commit yourself a bit more financially but only as much as you can afford to lose should things "go south".

This is Thailand and many farangs get stung badly the first time around. (some many times)

New car, motorbikes, house and land all at once sounds like a giant leap of faith for a newcomer to Thailand. If you proceed get as much as possible in your name or under your control.

Don't burn your bridges in the UK until you are very comfortable with your relationship and Thailand - conditions can change.

At 45 - visa options?

The 30 year lease wouldn't be fun if you were surrounded by a bitter family - it may even be hazardous to your health???

Hiya Gerry

Thanks for all Your Info

Yep She is a She even checked for the Ex Kathoey and everything

Fortunately I have been reading these Forums and other sources of information for Years now and every time We are over there

I am testing the situations over and over

I know things can change I do currently though have an awesome relationship with all of Her Family

Yeah I accept that with the Vehicles I just feel I will need Transport and generally in Life if I am going to do something I do it Full Commitment (I even know where I am doing My Monk Hood already )

And My Thai is Nit Noi and getting better

She to be Fair has always wanted Me to wear the trousers unbelievably and insists on things being in My name etc. and I fell in love with Thailand Years ago and nothing has changed through time except for I love it even more

We bought the Land about 20 Kms away from the Family just to have some space (would that ever be far enough ?) And Visa options Yeah not many at the Moment just Marriage Visa and Visa runs I guess

Do You feel that I would be able to make the move in My current situation though ? and I really do take on board everything You have said

Cheers Barrie

[howerde]

I would not be selling a house in the UK if i was in your shoes(not this early on). staying in Thailand for a few months is fine but at the tender age of 45, can you see yourself living the lifestyle you describe for the next 30+ years, i have stayed with friends in that area, most were around 60 and frankly they were bored, most had been there 5+ years. It also depends on your skills, can you get a job if you return to the uk, at 45?, Also if things did go wrong a few years down the line, the 30 lease on the building will be a millstone round your neck,unable to move on or sell, you will be leaving with nothing. take your time,

[MAJIC]

You say you are aged 45, so you have 5 years before you can get a o/a visa and retire to Thailand,and take out a 30 year lease on the house build completed,which does not include the land !

[DILLIGAD]

All good advice given IMO and I'd like to ask one question of the OP.

Living FULL TIME in LOS is vastly different from holidays or even from people leaving to work shifts in other countries. I retired here at 48 and did nothing for a fair few years (except get into trouble! 555). I now work full time (again) and it's actually much better.

My question then.......

What are you going to do with yourself @ 45yo ?

[Martyjustice]

Barrie. Things will never be in your name. You are not thai. Marry sooner than later. In UK if possible, then appy for marriage visa. Would not sell you stuff in UK till after 10 years of marriage.

Read lots of build houses on land and bye bye from gf or divorce from new wife. The Thai keeps everything, its the law here.

There are good stories too. I've been married to the tw for 45 years. House in ubon and house in Dallas.

Don't invest what you can't leave. After living here a couple of years the wife can't put up with her own country.

[Happy Grumpy]

Don't build the house yet. Rent one for 3-5 years first and see how you get on. Don't invest anymore money in Thailand until after that period. Then reassess things.

[gerry1953]

I have to assume you have a Thai lady first.

Before jumping in financially make sure the relationship is rock solid (the rose colored glasses come off).

Once the relationship is time tested then commit yourself a bit more financially but only as much as you can afford to lose should things "go south".

This is Thailand and many farangs get stung badly the first time around. (some many times)

New car, motorbikes, house and land all at once sounds like a giant leap of faith for a newcomer to Thailand. If you proceed get as much as possible in your name or under your control.

Don't burn your bridges in the UK until you are very comfortable with your relationship and Thailand - conditions can change.

At 45 - visa options?

The 30 year lease wouldn't be fun if you were surrounded by a bitter family - it may even be hazardous to your health???

Hiya Gerry

Thanks for all Your Info

Yep She is a She even checked for the Ex Kathoey and everything

Fortunately I have been reading these Forums and other sources of information for Years now and every time We are over there

I am testing the situations over and over

I know things can change I do currently though have an awesome relationship with all of Her Family

Yeah I accept that with the Vehicles I just feel I will need Transport and generally in Life if I am going to do something I do it Full Commitment (I even know where I am doing My Monk Hood already )

And My Thai is Nit Noi and getting better

She to be Fair has always wanted Me to wear the trousers unbelievably and insists on things being in My name etc. and I fell in love with Thailand Years ago and nothing has changed through time except for I love it even more

We bought the Land about 20 Kms away from the Family just to have some space (would that ever be far enough ?) And Visa options Yeah not many at the Moment just Marriage Visa and Visa runs I guess

Do You feel that I would be able to make the move in My current situation though ? and I really do take on board everything You have said

Cheers Barrie

Hi Barrie,

I wasn't too concerned is she was a Kathoey, a gay or whatever just that spending lots of close time being that close together doesn't drive you crazy. It is great to read the forums but living the life sometimes is very different. Getting along with her family and having their respect is a very good sign, I have a similar situation. I am 62 not 45 and even then I get bored sometimes and go on 10 day bike trips up the Mekong by myself. Other times it's a week outing to Jomtien to visit friends or travel with my wife. To be honest I spend 6 months a year in Canada with my Thai wife to "balance" myself or I get frustrated with the Thai way of doing things. At your age (45) I would have to keep busy farming or doing some type of mental and or physical work to keep me young.

Only you know if you can make it work and you seem upbeat about the prospect. There are lots of good recommendations being made - go slow, you have time on your side.

Cheers

Gerry

[slipperylobster]

I would make your renter pay six month's in advance.

The problem I had, was that my renter would deposit the monthly rent in my account, and my mortagage was paid from that account. Renter was always late...and sometimes billed excessively over the 100 dollar limit I put on maintenance. If you have no mortgage..then fine. I also made the mistake of paying for water...and he watered excessively (one acre)...which was billed at 300 a month. This was a semi-arid zone..inland from the coast. Of course...I was a dummy to agree for that. Bottom line...I could not manage it from overseas. Flew back and sold a beautiful ranch house with forty fruit trees and two fireplaces (pool table in the kitchen with beehive fireplace) just to meet asian girls and drink beer. I have now reformed.....but a bit too late.

My guess is that you will run out of cash before you reach your real retirement age (ours is 62). I have two years to go.

[Slugs11]

Hi Barrie one thing you need to remember, even if you are a non resident of the UK, you are still liable for UK taxes on any earnings from the UK (rent returns, though you still have your personal tax allowance). Renting of your house is great IF you get a good tenant. Get one who pay for the first 2 months then stop paying is a costly business, especially if you have to go to court to evict him. Then you have to pay letting agent (if you use one) house insurance, landlords certificate for electrical and heating systems.Then you have the possibility of repairs to your UK house. All these have an impact on your rent returns from your UK house. Good luck whatever you decide to do.

[Ghostnigel]

Oh dear oh dear....so you are not married? and you have bought the land in your gf's name? Don't sell your Uk house, If things go 'belly up' with you and your gf, you will need your house in the Uk, you will own nothing in Thailand....just be careful what you buy out of the marriage, it will be very difficult, if not impossible to get any of it back....chok dee

Hiya Ghostnigel

Yeah fair point I ain`t quite that Mad Yet though

Put small deposit on Land which We are Paying up in Full on Our next Visit also intending to Marry then

We have been together for quite a Few Years now and We do know each other pretty well

I am unsure Whether to Marry just before Land Purchase or after though Your Thoughts ?

I read somewhere that it was better for Me if things went wrong that She had Possessions before We Wed ? doesn`t sound right to Me either

30 Year Lease Will also be put in place at time of Land Payment/Signing as Well

Cheers Again

Barrie

You seem to be well read up on this, each to his own, but i reckon, lawfully, It is better, safer, to buy in wedlock, with a paper trail, ( i.e., proof that the money came from abroad ). This is just from experience, not knowledge of the law, so maybe someone with knowledge on the subject, might be able to go into finer detail.

I hope everything goes well for you, and you have a long and happy future here. People can be happy here, you know...reading some of the put-downs from some of the members here, sometimes i wonder about that....hahaha

[DILLIGAD]

Upon divorce, Thai (like many western) courts start with a 50/50% split of possessions wether Farang or Thai. If land/property is deemed to be Farangs property, the court will grant 6/12 months to sell it.

[BARRIE44]

I would not be selling a house in the UK if i was in your shoes(not this early on). staying in Thailand for a few months is fine but at the tender age of 45, can you see yourself living the lifestyle you describe for the next 30+ years, i have stayed with friends in that area, most were around 60 and frankly they were bored, most had been there 5+ years. It also depends on your skills, can you get a job if you return to the uk, at 45?, Also if things did go wrong a few years down the line, the 30 lease on the building will be a millstone round your neck,unable to move on or sell, you will be leaving with nothing. take your time,

Hiya Howerde

Thanks for all of Your comments

I understand Your point in regards to Lifestyle the thing is I have never been a Materialistic person even though I could have been.I really cannot stand the ways of the West anymore and that has been happening for Years as well.

Every bit of time I have spent in Rural Thailand I have felt totally at Home (Climate/Pace of Day/Chores to do etc.The boredom thing however is real and I accept that even though I am very good at amusing Myself and finding things to do.

As far as the Land Lease goes I have always said and accepted that the Land and House will always stay with My GF no matter what as far as I am concerned that is the least that She deserves and I really mean that.

Everything that You have said were already on My list and I am still giving them all serious thought

I am just thinking that I would rather spend some Younger years in Thailand opposed to only Experiencing it at an Older age and the renting option will probably mean staying here even longer

Do you think the renting option is really an option now i.e. would I have enough in total

Cheers

Barrie

[BARRIE44]

You say you are aged 45, so you have 5 years before you can get a o/a visa and retire to Thailand,and take out a 30 year lease on the house build completed,which does not include the land !

Hiya Majic

Is an o/a Visa that important ?

Wouldn`t I be Ok with a Marriage Visa and Money in the bank when re-applying ?

30 Year Lease on Land not House and I have just Posted above that the Land and House would always be Hers anyway no problem

Cheers Barrie

[BARRIE44]

All good advice given IMO and I'd like to ask one question of the OP.

Living FULL TIME in LOS is vastly different from holidays or even from people leaving to work shifts in other countries. I retired here at 48 and did nothing for a fair few years (except get into trouble! 555). I now work full time (again) and it's actually much better.

My question then.......

What are you going to do with yourself @ 45yo ?

Hiya DILLIGAD

Yeah I totally agree all good advice and totally appreciated as well

I understand the Holiday/Actually Living there thing everytime We are out there We literally don`t do the touristy thing most of the time is spent around the House/Land and I do enjoy that.I think unlike most Expats mind I actually want and enjoy living the Thai way of Life/Learning Thai etc. and not Living in an Expat Bar

It is a lifelong Hobby Living in anyway Let alone Thai

Cheers

Barrie

[BARRIE44]

Oh dear oh dear....so you are not married? and you have bought the land in your gf's name? Don't sell your Uk house, If things go 'belly up' with you and your gf, you will need your house in the Uk, you will own nothing in Thailand....just be careful what you buy out of the marriage, it will be very difficult, if not impossible to get any of it back....chok dee

Hiya Ghostnigel

Yeah fair point I ain`t quite that Mad Yet though

Put small deposit on Land which We are Paying up in Full on Our next Visit also intending to Marry then

We have been together for quite a Few Years now and We do know each other pretty well

I am unsure Whether to Marry just before Land Purchase or after though Your Thoughts ?

I read somewhere that it was better for Me if things went wrong that She had Possessions before We Wed ? doesn`t sound right to Me either

30 Year Lease Will also be put in place at time of Land Payment/Signing as Well

Cheers Again

Barrie

You seem to be well read up on this, each to his own, but i reckon, lawfully, It is better, safer, to buy in wedlock, with a paper trail, ( i.e., proof that the money came from abroad ). This is just from experience, not knowledge of the law, so maybe someone with knowledge on the subject, might be able to go into finer detail.

I hope everything goes well for you, and you have a long and happy future here. People can be happy here, you know...reading some of the put-downs from some of the members here, sometimes i wonder about that....hahaha

Hiya again Ghostnigel

Yeah I have been researching all this for Years and Years now and as I said putting them into practice everytime We are there I will not go into this blind so that I can see and enjoy everything when We are there

Regarding Paper Trail everything goes into Thailand through My UK Account transferred to My Thai Bank Account I hope that is suffice

And Thankyou for the Positive feelings I do need some now and then

Cheers

Barrie

[BARRIE44]

Upon divorce, Thai (like many western) courts start with a 50/50% split of possessions wether Farang or Thai. If land/property is deemed to be Farangs property, the court will grant 6/12 months to sell it.

Cheers for that DILLIGAD

I thought that was the case.

Could You just verify something for Me though

If We did split and Was given 50/50 Split

what happens to the 30 Year Lease agreement ?

Cheers

Barrie

[Briggsy]

Not enough. You need another income source, an active one.

I doubt you will find any work worth getting out of bed for in Thailand, never mind 20 kms outside Udon. (e.g. teaching for 25,000 Baht a month) So you need to try and make money off the internet. It is easier than you think but you might need to put in 6 hours a day to make a few grand a year.

I have a simple spreadsheet I made in Excel to show you don't have enough.

Also I think your net annual returns of 250,000 Baht from house rental is optimistic. There may considerable expenses to factor in, such as repairs, and periods where a tenant cannot be found.

[Ghostnigel]

Oh dear oh dear....so you are not married? and you have bought the land in your gf's name? Don't sell your Uk house, If things go 'belly up' with you and your gf, you will need your house in the Uk, you will own nothing in Thailand....just be careful what you buy out of the marriage, it will be very difficult, if not impossible to get any of it back....chok dee

Hiya Ghostnigel

Yeah fair point I ain`t quite that Mad Yet though

Put small deposit on Land which We are Paying up in Full on Our next Visit also intending to Marry then

We have been together for quite a Few Years now and We do know each other pretty well

I am unsure Whether to Marry just before Land Purchase or after though Your Thoughts ?

I read somewhere that it was better for Me if things went wrong that She had Possessions before We Wed ? doesn`t sound right to Me either

30 Year Lease Will also be put in place at time of Land Payment/Signing as Well

Cheers Again

Barrie

You seem to be well read up on this, each to his own, but i reckon, lawfully, It is better, safer, to buy in wedlock, with a paper trail, ( i.e., proof that the money came from abroad ). This is just from experience, not knowledge of the law, so maybe someone with knowledge on the subject, might be able to go into finer detail.

I hope everything goes well for you, and you have a long and happy future here. People can be happy here, you know...reading some of the put-downs from some of the members here, sometimes i wonder about that....hahaha

Hiya again Ghostnigel

Yeah I have been researching all this for Years and Years now and as I said putting them into practice everytime We are there I will not go into this blind so that I can see and enjoy everything when We are there

Regarding Paper Trail everything goes into Thailand through My UK Account transferred to My Thai Bank Account I hope that is suffice

And Thankyou for the Positive feelings I do need some now and then

Cheers

Barrie

You are welcome...you seem to have plenty of common sense, thats' all you need here I feel. 'Streetwise' gets you further than having a Degree, you may have both, i don't know, but you have definitely got your head screwed on straight....you will spot the 'dangers', I know you will.

[bluebluewater]

OP

I'm curious as to how you decide which words you use capital letters on? It's very weird to be sure.

Good luck with the rest of it.

[chiang mai]

Don't do it yet, that's not nearly enough at your age. Think about worst case: what happens if/when GBP/THB goes to 45 or lower; what happens if/when the UK government remove the Personal Tax Allowance from expats (which they will); what happens if the taxation of UK rental property changes, which it will; what happens if/when your relationship doesn't work out and you lose your Thai house, the one that you can't own. If you had more money you could perhaps weather some of those storms, as things stand it all looks very shaky.