15 K Usd For Condo?

[Focus]

What might USD $ 15,000 to 20,000 get me in Isaan for a flat or condo in Udon Thani, Nong Khai, etc.? Thanks.

[Thai Chi]

What might USD $ 15,000 to 20,000 get me in Isaan for a flat or condo in Udon Thani, Nong Khai, etc.? Thanks.

20K US = 750K THB roughly.

Not sure about the places you mention, but I beleive that where I am (Buriram) would be very similar as far as costs go.

Inside of town, forget it. 15 year old townhouses start at 950K BHT. And then you need to factor in repair costs. Single houses of the same vintage start at 1.2 Million BHT. New houses on estates within say, 5 Klms of town, start at 1.4 Million BHT.

Now, once you start getting outside of town, its an entirely different proposition. You lose the amenities and convenience of being in town, but the prices start to fall.

Prices are on the rise in the great NorthEast, but there are still bargains to be had if you look hard enough

Good Luck.

[jdinasia]

in that pricerange ... a smallish 1br condo might be possible

[boppia]

I believe Thai law does not allow foreigners to legally own a condo in their name outside of certain areas, such as Bangkok, Pattaya, Phuket and a few other areas. Am I wrong about this? Experts?

[Focus]

I believe Thai law does not allow foreigners to legally own a condo in their name outside of certain areas, such as Bangkok, Pattaya, Phuket and a few other areas. Am I wrong about this? Experts?

[jdinasia]

I believe Thai law does not allow foreigners to legally own a condo in their name outside of certain areas, such as Bangkok, Pattaya, Phuket and a few other areas. Am I wrong about this? Experts?

yes .....you are wrong about that

[Focus]

Thanks for the insights. I could go up to 25 K USD, but that's about it. I don't need a fancy place, simple and small would do it. And I am not totally wedded to the idea of Isaan. Anywhere along the Mekong River area might be nice. On another related topic, would 250,000 USD stashed away in mutual funds, CDs, and money markets and a firm DO NOT TOUCH this nest egg for another, say, 12 years and quite good teaching quals (e.g. Masters, 20 years experience, etc.) for finding decent work (40-50k baht a month might do it) make you feel secure in Thailand?

Thanks.

[jdinasia]

if you are gonna work here ..... you may want to be in an area that will pay you for your quals .....

less tan 10M baht make me feel secure? not a chance!

[Focus]

Hi. Sorry, I should have added to my post above: I know this is a very, very subjective issue and question. I know an answer to my question all depends on personal attitudes, life styles, and tolerance for risk, etc... I can lead a fairly modest life style, not a lot of expensive drinking, two or three G and Ts (doubles) per night; I don't need a tennis court; long walks around town or by the river are my favorite exercise; don't need a fancy TV; don't need a car. Anyway... I'd love to hear the range of opinions and insights.

Cheers.

[Focus]

Thanks jdinasia, so you're saying 10M Baht (250K usd) ain't much? How much you think is enough, 500K usd? You know I'm just dealing with this whole how much of a safety net do I need issue? I am not money oriented but I don't want to end up in card board city either or have to worry too, too much about the essential things that money is used for: medical care, decent food, decent housing, a bit of comfort and relaxation. Know what I mean?

[jdinasia]

everyone is different .... all have different expectations.

For me ... having income in USD and a home back there is what makes me feel safe.

[Focus]

Yeah, everyone is different. I know what you mean about the USD income, but I don't have a home "back there"; I am looking for one in SE Asia. Right now I have a decnent USD income, but I would like to give it up in another few years and put some roots down in a place I'd rather live, like Thailand or Laos, which would mean a drastic reduction in income, but I think I can swing it: i.e. keep body and soul together and my sanity intact.

thanks

[boppia]

Thanks jd. Does anyone on this board actually have a condo upcountry besides in Chiangmai? I bet you could make some money selling condos along the Mekong river to foeigners. The hard part might be finding Thais to buy the rest.

I guess the thing I remember about buying condos in certain areas applies to buy more than just one condo. It's for investors who buy in quantity. Here's a link : http://www.bangkokbob.net/condominium.htm

Here's another link to buying a condo:

http://www.mlsasiapacific.com/buy-a-condo-in-thailand.php

[jdinasia]

I have friends with condos in HuaHin ... and Chumpon

[Thaicoon]

What might USD $ 15,000 to 20,000 get me in Isaan for a flat or condo in Udon Thani, Nong Khai, etc.? Thanks.

20K US = 750K THB roughly.

Not sure about the places you mention, but I beleive that where I am (Buriram) would be very similar as far as costs go.

Inside of town, forget it. 15 year old townhouses start at 950K BHT. And then you need to factor in repair costs. Single houses of the same vintage start at 1.2 Million BHT. New houses on estates within say, 5 Klms of town, start at 1.4 Million BHT.

Now, once you start getting outside of town, its an entirely different proposition. You lose the amenities and convenience of being in town, but the prices start to fall.

Prices are on the rise in the great NorthEast, but there are still bargains to be had if you look hard enough

Good Luck.

If you want a cheap place in a town, best thing to do is go to the bank and ask to see there repossesions, i have bought property this way, bought a 2 story town house in Jira road,Buriram, for 480,000 baht, 3 years ago sold it last year for close to 900,000, we just gave it a lick of paint.

[raslin]

Yeah, everyone is different. I know what you mean about the USD income, but I don't have a home "back there"; I am looking for one in SE Asia. Right now I have a decnent USD income, but I would like to give it up in another few years and put some roots down in a place I'd rather live, like Thailand or Laos, which would mean a drastic reduction in income, but I think I can swing it: i.e. keep body and soul together and my sanity intact.

thanks

As a foreigner you must have a job here or a regular income from abroad. With your qualifications look at the local universities. At retirement age you will need at least 40,000 Bath/month coming into Thailand. This is plently to live on in Isaan. Importantlu, apart from living costs you need to be able to pay health costs. You might also think of buying something near the Mekhong cheap and visiting a few times before making up your mind to settle here and get something better.

Roger, Surin

[Focus]

Roger of Surin, thanks for the suggestions: Indeed, getting a teaching job at a local university, college (or middle school) in order to put some roots down in the community, stay active professionally and supplement my income is part of Master Plan A, Phase 1.

Questions for you:

Can you recommend any universities in the area?

What salary could I expect? I know it wouldn't be much; 25 to 30 K maybe?

[citizen33]

Can you recommend any universities in the area?

What salary could I expect? I know it wouldn't be much; 25 to 30 K maybe?

The main Universities in the NE are Khon Kaen, Mahasarakham, Ubon, Suranaree University of Technology and Vongchavalitkul University (Korat). There are a few outposts of other universities, such as the Khon Kaen campus of Rajamangala Institute of Techology. Some of the Isan universities also have satellite campuses, such as KKU at Nong Khai. Naresuan University, Pitsanalok, is just a bit to the west outside Isan. NIDA offers some courses in Korat. The Rajabhat University (a series of former teacher training colleages that now offer a wider range of degrees) has campuses in a number of Isan cities including Korat, Mahasarakham and Ubon. KKU probably has the best overall reputation but this may depend on subject.

The salary levels are pretty much in line with your estimate, unless you are paid from overseas on some kind of sabbatical or research basis. My perception is that English language teaching is at the bottom of the pecking order, but does offer the advantage of opportunities for extra casual sessions outside the basic contract. I would say you would be lucky to get 30,000 baht per month as basic salary. Two years ago the salary for a full professor, of which there are very few in Isan, was about 35,000 baht per month. I do not think this has risen much. Surprisingly, to me at least, The salaries in schools aren't much lower. The failure of salaries to keep up with inflation is a source of frustration to many 'arjans', who have also seen the civil servant status of new entrants replaced by 'officer' status under the public organisation reforms. This means there are recruitment problems in some subjects in Isan, and I recently heard that many retirees are being given short-term contracts to fill the gap.

[Focus]

Citizen 33, thanks for the very comprehensive list of unis in Isaan!

I am a bit disappointed to hear you say that English language is at the bottom of the pecking order given the need for QUALITY English language instruction and given the time and effort that some of us have put into becoming qualified and competent; I suppose it's the amateurs that keep the wages down. Anyhow.. maipenrai.... thanks!

Can you recommend any universities in the area?

What salary could I expect? I know it wouldn't be much; 25 to 30 K maybe?

The main Universities in the NE are Khon Kaen, Mahasarakham, Ubon, Suranaree University of Technology and Vongchavalitkul University (Korat). There are a few outposts of other universities, such as the Khon Kaen campus of Rajamangala Institute of Techology. Some of the Isan universities also have satellite campuses, such as KKU at Nong Khai. Naresuan University, Pitsanalok, is just a bit to the west outside Isan. NIDA offers some courses in Korat. The Rajabhat University (a series of former teacher training colleages that now offer a wider range of degrees) has campuses in a number of Isan cities including Korat, Mahasarakham and Ubon. KKU probably has the best overall reputation but this may depend on subject.

The salary levels are pretty much in line with your estimate, unless you are paid from overseas on some kind of sabbatical or research basis. My perception is that English language teaching is at the bottom of the pecking order, but does offer the advantage of opportunities for extra casual sessions outside the basic contract. I would say you would be lucky to get 30,000 baht per month as basic salary. Two years ago the salary for a full professor, of which there are very few in Isan, was about 35,000 baht per month. I do not think this has risen much. Surprisingly, to me at least, The salaries in schools aren't much lower. The failure of salaries to keep up with inflation is a source of frustration to many 'arjans', who have also seen the civil servant status of new entrants replaced by 'officer' status under the public organisation reforms. This means there are recruitment problems in some subjects in Isan, and I recently heard that many retirees are being given short-term contracts to fill the gap.

[ray23]

Can't help much with the teaching but I can tell you te first rule of thumb here is don't buy until your abosulety sure you are wher you want to be. Rents are still very low in Issan. Anywhere from 3K a month to 10 K depending on wht you can be satisfied with.

The succeful teachers that I have met here tend to tutor on the side and supplement thier income very well in that mannr. One guy says he is making 60 K a month, but he works all the time and I'm not his accountant, so who knows.

If it were me I would leave that nest egg at home and only use it to supplement when needed.

With the education you have why Thailand?

Aren't there places in the orient that pay much better. Japan for instance unless teaching is much different then I understand it to be, you have lots of time off to travel. Personally I would not try it without a retirement but that is just me. Thailand can be a very cruel place without money.

I looks like you are really thinking it through, so Im suer you will make the best decesion for yourself and wish you all the luck.

[johnnyk]

Public (taxpayer-funded) colleges and unis pay roughly the same scale across Thailand, ie. around 27K a month. Advantages are fairly light teaching load and ample opportunity for private work (ample extra-curricular opportunities too). Private unis pay more but are very difficult to get into.

It wouldn't be too hard to get up to 35-40K a month without killing yourself and upcountry you can live nicely on 35K a month particularly if you have your accomodation sorted.

English teachers have little status partly because over the years too many drunk, unwashed pre-literate white boys have turned up passing themselves off as teachers. The Thais must bear some of the responsibility for this as they have been willing to hire these impostors but unwilling to pay proper salaries as in Korea, Japan, Taiwan. English teachers are better paid in VietNam and Cambodia and they are far poorer countries than Thailand. Pay peanuts and you get monkeys.

Another problem is that outside the upper middle classes education is not highly valued. Somchai will not get his job based on education but rather that daddy or uncle knows somebody. This is one reason incompetence is rampant and many people are clueless about their job(go into HomePro and ask a question, lots of people standing around giggling and looking vacant but takes 15 minutes to find someone who knows anything).

I wouldn't hold my breath on riverfront property. First, its difficult to buy property in Thailand (other threads can give you info on this) and waterfront property is always expensive for obvious reasons. If its relatively cheap it may be because its on the flood plain and useless for development.

Check out www.khonkaen.com for info on Issan.

Chok dee kap.

[Jersey_UK]

Thailand can be a very cruel place without money.

2nd that.

Have never been North of Sukhumvit , but I would caution against buying anywhere (but especially in Thailand) until you are certain (as you ever can be) that you are living in a place you like, can afford and most importantly have built a life - including work if applicable (as appears to be on your agenda). Renting means you can move easily and for minor conveniance reasons (maybe 5 minutes closer to the 7-11 DOES make a difference after all?? or another 200 yards away from the truckstop may have been a better idea........let alone "I've got the wrong town" , plus when renting you are on the ground for hearing about deals from personal contacts and are better placed to judge the market for yourself.

Don't bet the farm on being able to sell out at what you bought in at and when you want to - look at it as rent upfront, with only the possibility of getting the money back and go into the purchase with the intention that you never sell. (in practice you probably will get a large chunk back, but if the thought of getting less than half back scares you financially, then I suggest rent and don't buy, until / if you do get comfortable). If you need to save a bit more for 6 months rent money in Thailand to make sure you are settled and sorted before buying, then so be it - but perhaps this in itself is a caution that your budget is a bit too "tight".............

Having said all the above (with my Mr Sensible hat on ), you only live once, and their is ALWAYS a reason not to do something

[Lacoste]

Some excellent thoughts, comments and advice here.

[Focus]

Thanks for all the great replies.

Yeah, renting seems to make a lot sense as opposed to buying, for all the reasons mentioned above. I'll ponder that one.

Yeah, the idea would be to leave the NEST EGG at home drawing some kind of interest and then start dipping into it when I am too old to stand.

Yeah, too bad about the disreputable English teachers in Thailand; I suppose you get disreputable people in most walks of life and professions.