Is it better to rent or buy if you can afford to buy and have spare cash ?

[longtimeexP]

Its a time of uncertainty at the moment , rent and at a later date decide if you , like where you are , then make your own decision

[mrfaroukh]

That is stupid idea. You get your rental from USA and rent whatever and wherever you want in Thailand. People keep getting tired of one place and keep on moving from one city to another city in Thailand , so if you buy one you will be stuck and it is not that easy to sell it and move on. On top of that most people here have girl friend problem so if you fall in that trap then is not that easy to get rid of your gf and it is you who should move. If you buy you can not move.

[Jeffkp]

After coming to Thailand for a number of years on holiday, I decided to move here when I retired in January of the year.

I knew two things; I wanted to live in Chiang Mai and I wanted a condo in the city. I am not a country boy.

I came in October of last year to look. I had planned on renting to begin with, but the first unit I looked at was in a new 13 story building on Changklan Rd. I looked at others, but kept coming back to this one. After a week of looking, I decided to buy.

I moved here in February and have not regretted my decision.

I'm 60 and have no connections back to the US. I have made a small circle of good Thai friends. Indeed one of my oldest Thai friends moved here and lives with me.

I know know I will never move back to the US. I'm here for the rest of my life.

I've made a Thai will and left the condo to my friend.

My unit has a back door that opens to a beautiful, saltwater pool on the 6th floor.

I guess my point is, decide on the life you want and live it. I don't know any Farangs here and wouldn't ask there opinion if I did.

[WorkingTourist]

Why would you want to buy a property in a country under Military Rule and where they change the Visa rules at the drop of a hat. With rental you are in control of your capital, keep the places at home room to cover your expenditure in Thailand.

What does the military rule have to do with renting versus buying? Are you implying that the military will cease foreign owned private property?

And can you give some examples of visa rules that have been changed “at the drop of a hat”? In all the time I have been coming to Thailand, the only change I noticed was that G7 countries are now given 30 day visa on arrival when crossing a land border, where it used to be only 14 days, and there have been talks about introducing a new multi-entry tourist visa (i.e. one that is not voided if you leave the country).

I think you might be thinking of enforcement rather than changes, as yes, they did start to enforce the rules around August last year, after widespread misuse of education visas and back-to-back visa exemption stamps.

[chilli42]

II have been here 25 years. My wife and I have made a shameful amount of money on capital appreciation of various properties we have bought and sold in Bangkok. This is capital appreciation you will not see in the U.S. and it is fully tax free. Moreover, the U.S. Dollar is particularly strong vs the Baht right now. The tricky bit is to buy well/low. Much of the condo market is overbuilt and over priced at the moment. If you are patient and keep looking for a deal, you will find one ... lots of desperate locals are in a bad way during the current economic conditions. One last thing, get some U.S. tax advice on selling you property as there may be capital gains tax to consider.

[WorkingTourist]

It is of course a personal choice, but I would never buy a condo/house in Thailand.

My main reason is that I love my freedom. If I want to leave my current place I can do tomorrow and rent elsewhere. No ties to the place.

Right, that is a very valid argument and one I fully understand, though I would be hesitant to call it freedom because as have already been said, your freedom does not extend to doing what you want with the unit (without owner’s permission).

Furthermore, the ability to “just move” is not limited to renters. Condos in Thailand are cheap relatively to the West and it’s not uncommon to buy them in cash, so with a fully paid condo and no property taxes, it’s hardly a big deal if it can’t be sold quickly.

Just be sure to get a good deal when renting longterm.

My place in Pattaya 70sqm costs me 4500baht with a 3 year contract. If I decide to go tomorrow all I loose is a small deposit of 8000baht.

Wow! That is both amazingly cheap (assuming you don’t live in a dump) and rather trusting of your landlord to require such a small deposit when you are doing a 3 year contract.

[WorkingTourist]

My wife and I have made a shameful amount of money on capital appreciation of various properties we have bought and sold in Bangkok. This is capital appreciation you will not see in the U.S. and it is fully tax free.

You mean you don’t have to pay U.S. tax on the gains, right? Because there is Thai withholding tax when you sell property.

[ldnguy]

Just 1 advice if you decide to buy : Pay Thai-Price, not farang-Price ... Usually they almost dobble the Price for farang

NOt true in most condo buildings. Farangs pay more in buildings that are popular with farangs. To get Thai price for those you need to be Thai. There will be plenty of other farangs to pay extra if you don't want to. But I've never seen the price doubled or anywhere near that. If you think that has happened then let us know where.Or are you just making it up?

[bazza40]

Perhaps the OP should ask himself the questions:

1/ How easy will it be to sell my rental property in the USA ?

2/ How easy will it be to sell my rental property in Thailand when I have lousy neighbours or the condo management screw up the (a) sewerage

( water supply © electricity supply (d) falang:Thai ownership ratio? Don't laugh, there are several condos in CM with exactly those problems.

Think that the answer to the original question should be obvious.

[ldnguy]

Why would you want to buy a property in a country under Military Rule and where they change the Visa rules at the drop of a hat. With rental you are in control of your capital, keep the places at home room to cover your expenditure in Thailand.

As already explained by some, they want a place to live that they can renovate and make changes to. They want a home and not a rental property that a landlord can decide to stop renting to you.

You sound like you have too much fear or maybe you don't have enough money to buy. I would advise you nt to buy in Thailand as it obviously wouldn't suit you. But for others buying in Thailand is a great idea.

Thailand has been under military rule many times, but foreigners are still here and still making money. You obviously don't understand the situation.

[bazza40]

The same can be asked regardless of where you live. If you have paternal children in Thailand then you would buy for the sake of the children.

I looked at a townhouse on the beach in Ban Chang 5 br. 2 1/2 ba. 4.5 Mil asked the rent 15,000 baht a month. You do the math.

Let your children make their own way in life, it's good for them.

Dunno why all these old guys want to give their money to their children/wife/gf/MiL, nobody gave me anything, I had to go out and work for what I wanted.

If memory serves, you have posted on Thai Visa that your wife/gf will get nothing when you die. You want her to remember the golden years with you.

More likely she'll be cursing your memory.

I've gone out and worked for what I wanted too. Nobody gave me anything. What's in Thailand will go to my gf when I die.

Help me understand. What has made you such a miserable human being?

[ldnguy]

Depends on whether you've got anyone to inherit any purchase in the future. We've just rented a new house and the rental would take 25 years to pay for the market value. There's very little difference financially.

But that's at today's rental rates. Rent is bound to rise over 25 years. People used to say he same thing when I first bought in London 20 years ago. Now both rent and property prices are up around 10-fold.

Not just that, even if rent stays the same for 25 years and property values do not appreciate, after 25 years you would have paid off the house, so from then on, you live rent free and have an asset worth several millions that you can sell or use as collateral when taking a loan.

Assuming you live another 25 years.

Assuming you don't get too old/infirm/senile, and have to return to your home country for long term health care.

Assuming you don't get deported and black listed.

Assuming you have 800kbht in the bank to get a VISA.

I dunno, but some people might think buying in a country where you have no right to live might be somehow foolish.

If anyone who buys doesn't live for 25 years it will be completely irrelevant to them because they'll be dead. They will most likely have a will, so that side of things would be taken care of. No reason for them to get deported or blacklisted. I assume they have the 800K sorted as well otherwise they wouldn't buy in the first place. But if they don't have the 800K they'd have the same problem if they rented.

It's not for you though, so I'd advise you stay away. Far too dangerous for someone like you to be in Thailand. Best that you sit at home and keep worrying while the rest of us enjoy our lives.

Edited September 22, 2015 by ldnguy

[Sutty]

Why would you want to buy a property in a country under Military Rule and where they change the Visa rules at the drop of a hat. With rental you are in control of your capital, keep the places at home room to cover your expenditure in Thailand.

So to go off topic sorry OP jasmine with a negative attitude like that why are you in Thailand???? Or if your not you must have visited or are you cherry picking the forums!!!!

[MaeJoMTB]

Not just that, even if rent stays the same for 25 years and property values do not appreciate, after 25 years you would have paid off the house, so from then on, you live rent free and have an asset worth several millions that you can sell or use as collateral when taking a loan.

Assuming you live another 25 years.

Assuming you don't get too old/infirm/senile, and have to return to your home country for long term health care.

Assuming you don't get deported and black listed.

Assuming you have 800kbht in the bank to get a VISA.

I dunno, but some people might think buying in a country where you have no right to live might be somehow foolish.

If anyone who buys doesn't live for 25 years it will be completely irrelevant to them because they'll be dead. They will most likely have a will, so that side of things would be taken care of. No reason for them to get deported or blacklisted. I assume they have the 800K sorted as well otherwise they wouldn't buy in the first place. But if they don't have the 800K they'd have the same problem if they rented.

It's not for you though, so I'd advise you stay away. Far too dangerous for someone like you to be in Thailand. Best that you sit at home and keep worrying while the rest of us enjoy our lives.

You seem to be a very shallow thinker,

If you aren't going to last 25 years, leaving your money for someone else to spend is a bit of a waste.

There is a civil war coming,I can see them chucking all foreigners out, not to mention VISA rules change, police plant drugs, you can break minor laws, annoy the wrong person, etc.

You'd be surprised how many Thai wives convince their husbands to spend that 800k they have in the bank, can't have it in the bank and buy a house with it..

My wife has a very nice house,I'm happy to repay the home loan for her (while I'm living in it), it's a little bit like rent.

But I guess too many foreigners marry girls who have no credit.

Edited September 22, 2015 by MaeJoMTB

[Toscano]

As a foreigner you can only buy/own a Condo . If you might be thinking of marrying a Thai woman , choose one who has her own house and land . You might need to do some improvement .

Buying a house in the country can only be done with a Thai owning it , if you rent you can leave it if there are any problems with a wife or neighbours .

[jamie2009]

Why would you want to buy a property in a country under Military Rule and where they change the Visa rules at the drop of a hat. With rental you are in control of your capital, keep the places at home room to cover your expenditure in Thailand.

So to go off topic sorry OP jasmine with a negative attitude like that why are you in Thailand???? Or if your not you must have visited or are you cherry picking the forums!!!!

I live in Thailand because it's cheap and cheerful, I have an apartment at home which I rent out so more less covers my expenditure here. The OP was asking for an opinion about renting or buying, I gave mine, not negative, realistic is what it's called. I am not looking for an investment at 63 years of age or 'lumbering' my family in the UK with trying to sell a property thousands of miles away as and when I die.

I don't understand.why you called me Jasmine and I don't 'cherry pick', forums. I am a regular to any forum which can be a benefit to me or one which I have a general interest in.

[csabo]

I heard once that your possessions own you and I found it to be true. Before I left the states to come here I had a car to sell. Beautiful luxury German brand on warranty all the bells and whistles. I got very little interest due to the crappy economy. I finally got a serious offer 2 months before I was scheduled to leave the states, luckily. I sold it much cheaper than it was worth, but if I had not It would have been a real disaster. I was worried I would have to dump it at a car cash place just to free myself of it for an extreme loss. I learned that possessions, especially large ones, do intact control your freedom and life to a large extent. A home is the best example of this. Personally I will never buy again. I like that freedom tucked in my pocket. If I was to buy, I HIGHLY doubt it would be in a foreign country where the government was in transit and I was likely to be treated as a second class citizen in the event of anything going wrong. My advice is pause, think, research. Go extremely slowly before making the choice to buy. Are you prepared to lose money in an unstable market? Are you prepared to sit and wait for a buyer, or become a landlord in the event you want to move but cannot sell? Are you prepared to give some of your freedom away to an anchor, be it a residence, a wife or in my case a car? I sold or gave away almost everything I owned before I came here and I can tell you it is the most liberating stress relieving feeling one can have. Live light, and stay thirsty my friend.

[mcfish]

Just 1 advice if you decide to buy : Pay Thai-Price, not farang-Price ... Usually they almost dobble the Price for farang

Thats odd the Gf has been looking at buying a new condo for several months now and nobody has grabbed her by the arm and offered her 50% off because shes Thai.

Maybe you can give me some tips on what shes doing wrong?

[trogers]

Reading through the posts here, I surmised the following - age and intention to retire here are paramount factors on deciding renting vs buying.

Those past mid-50s on a retirement visa would be more likely to buy if they have the cash.

Those with a regular pension or income but no large cash fund would most likely rent.

Those in their 30s and 40s would most likely rent due to their desire for mobility and a higher risk appetite for higher risk-returns form of investments.

Edited September 22, 2015 by trogers

[ozyjon]

with the economic volatility world wide, with so much property on the

market i would rent, owning property is losing its shine as there are

few profits to be made also owning an asset outside your own

country might incur higher taxes in 2 countries.

[overherebc]

Mortgage 10,000 a month. Usual rent for similar 13/15000 a month.

House is 1 year from being paid off, wife works and pays mortgage.

After many years of renting move out and maybe, just maybe get your deposit back, 40/50000 baht.

Sell for half value and get 2/3000000 back.

Do the arithmetic and also pick the right wife.

[fred Kubasa]

Much better to rent because :

1). If you have or get bad neighbors you can move at little cost

2). Neighborhoods can, and often do , change overnight, and maybe

bikers decide to open a shop nearby !

3). Right now, as I type, 3 friends are trying, one for 11 months

to sell their "INVESTMENT" condos at less then their pre launch

purchase price.

4). With a good lease the landlord of a rental will take care of problems

and, there are always problems.

[klikster]

Depends on so many factors.

- Can you find a dwelling you like in the area you like?

- Do you have a "real" family situation?

- Are you content to stay in one location for an extended time?

I rented for most of my 19 years here in Thailand. I have lived in 9 different locations; bought 2 times and sold both to make a profit.

Last year we built exactly what we wanted. When I pass from this life I will do so knowing my dear wife/best friend will be left with a comfortable home.

[Goldbear]

For those of us without an established life in Thailand that necessitates being in one place (e.g., job, children, wife and her family), I say we pay the rent and have the flexibility to move.

I have the money to buy a condo but there is no particular place (city, town, neighborhood) that I can imagine living 100% of the year for years on end. Maybe that will change at some point but until it does I have the flexibility.

Everyone's situation is different. We have different personalities, ages, incomes, marital status, time in Thailand, knowledge, etc. Those with Thai wives also have different options than those without.

There is a lot of good info in this thread. Thanks for posting.

[newnative]

I think in this world there are renters and owners. I am an owner. Like a previous poster, I like to own my condo, know it is mine, and I like to have my furniture and art in it and make changes I want to make. There are advantages and disadvantages to renting and buying no matter what country you are living in. Short-term, renting might be better. Long-term and if you are more of an owner in temperament, then buying can have advantages. My condo is paid for and I like not paying rent or having a mortgage. In Thailand, my best advice is to buy in foreign name from a reputable, large company, preferably publically traded, if you are buying new. For older condos, check the building maintenance and financials. And always, location, location, location. For the latter, you might try some short-term rentals to experience some different areas you are interested in if you don't have a specific area picked out yet.

[whaleboneman]

I heard once that your possessions own you and I found it to be true. Before I left the states to come here I had a car to sell. Beautiful luxury German brand on warranty all the bells and whistles. I got very little interest due to the crappy economy. I finally got a serious offer 2 months before I was scheduled to leave the states, luckily. I sold it much cheaper than it was worth, but if I had not It would have been a real disaster. I was worried I would have to dump it at a car cash place just to free myself of it for an extreme loss. I learned that possessions, especially large ones, do intact control your freedom and life to a large extent. A home is the best example of this. Personally I will never buy again. I like that freedom tucked in my pocket. If I was to buy, I HIGHLY doubt it would be in a foreign country where the government was in transit and I was likely to be treated as a second class citizen in the event of anything going wrong. My advice is pause, think, research. Go extremely slowly before making the choice to buy. Are you prepared to lose money in an unstable market? Are you prepared to sit and wait for a buyer, or become a landlord in the event you want to move but cannot sell? Are you prepared to give some of your freedom away to an anchor, be it a residence, a wife or in my case a car? I sold or gave away almost everything I owned before I came here and I can tell you it is the most liberating stress relieving feeling one can have. Live light, and stay thirsty my friend.

You do realize that money is a possession?

[zaZa9]

As there is virtually no accessible consumer protection here , and in the courts you would never really understand what is going on whether you are treated fairly or not , I say never own , just rent ....

[WorkingTourist]

I heard once that your possessions own you and I found it to be true […] A home is the best example of this.

I believe the quote from Fight Club is: “the things you own end up owning you” and is about minimalist living.

Buy a house at half of what you can afford and/or ensure you have enough money for a years worth of expenses, and you should not end up being a slave to your mortgage.

Personally I will never buy again. I like that freedom tucked in my pocket.

Freedom is very tightly coupled with money (financial freedom).

For me, buying my first condo (when I was 20) was instrumental in my abilities to travel the world without worries because the monthly expenses were fixed and pretty low (as I had already paid it off fully after 7-8 years). An alternative me who had rented, I am not sure how I would have tackled it. Terminated the lease while travelling, putting my things in storage, coach surfing when I got back until I found a new place, etc., doesn’t sound at all appealing, and there is no doubt it would have been more expensive.

[Sutty]

Why would you want to buy a property in a country under Military Rule and where they change the Visa rules at the drop of a hat. With rental you are in control of your capital, keep the places at home room to cover your expenditure in Thailand.

So to go off topic sorry OP jasmine with a negative attitude like that why are you in Thailand???? Or if your not you must have visited or are you cherry picking the forums!!!!

I live in Thailand because it's cheap and cheerful, I have an apartment at home which I rent out so more less covers my expenditure here. The OP was asking for an opinion about renting or buying, I gave mine, not negative, realistic is what it's called. I am not looking for an investment at 63 years of age or 'lumbering' my family in the UK with trying to sell a property thousands of miles away as and when I die.

I don't understand.why you called me Jasmine and I don't 'cherry pick', forums. I am a regular to any forum which can be a benefit to me or one which I have a general interest in.

Firstly let me appologise Jamie. I can assure you it was just a typo error on name (predictive text). Your post did come across as negative but I see after reply were your coming from. One point though Thailand cheerful I agree love the place personally but would not say cheap. Edited September 22, 2015 by Sutty

[jacko45k]

Rent, then with the simple loss of a deposit, you can move on, says the guy disturbed by construction work at 9pm and their dogs after that!