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Preparing to retire in Thailand


autanic

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Bought several houses over the years but never thought I'm ready to die !!!!

Here have took great delight and a lot of pride in building a house which we now live in no rent to pay as my old man once told me rent money is wasted money.

Rent is only wasted money if you are a young man. Over 50, rent is not wasted money compared to building or buying in Thailand.
Ok so let's do the maths then 50 yr old average life conservative 85 so 35 yrs rent our condo in pattaya 7500pm so that's 90,000 per year x 35 yrs 3,150,000.

2 bed two bath house including fixtures and fittings just a few bht short of 500,000bht so at 85 I'm 2,650,000 in pocket so how is renting better?? Stable home no moving around rented to rented. Now before you say but I can't own it or land I have a 50 year lease on land from wife (hers as wedding gift from family. I have yellow book which means nothing as such but if things happen and we divorce ect although I wouldn't I can demand half or sell house to recover. But house is for my family here and now when I'm gone they have stability.

.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

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My advice is NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT.

I just can't say that enough times. There are dozens of unhappy threads on TV about men that bought property and regretted it, but few or none from men that rent.

Thaibeachlovers unfortunately, you don't understand the concept of the "buying vs renting" lifestyle. Renting, you are throwing money away each month and you cannot alter the property you rent to suit you......its a temporary existence. And that may suit you and others ....Fine.

You say "Never, Never Never buy Property" .....but buying property, you have something! Something tangible, something you can alter, change or rearrange to your liking. Something to leave your wife and children. Not saying buying property is for everyone .......but an emphatic NO is downright BAD advice.blink.png

Every situation is different, and as such all such variables should be taken into consideration in whether to buy or not. whistling.gif

While I generally agree with what you say, the idea that paying rent is throwing money away is ridiculous.

Sometimes it makes sense to buy, sometimes it makes sense to rent.

Well .....when paying rent for 10 years and after that having nothing to show for it .....It is just like throwing it away.

Example....Paid 3.5 million baht for a house in Bangkok 10 years ago . If paid rent at 30,000 baht (fair rental value)/month, would have nothing at the end of 10 Years.

I guess the all night karaoke hasn't set up next door yet. Good luck with that.

I moved 3 times in 5 years after I moved to LOS and I wouldn't be the only one. Probably be moving again sometime.

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.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

Well .....if one has live "from hand to mouth" existence by living in a 2-3 thousand baht/month room.....I guess your right ....RENT, RENT, RENT..

Couldn't afford to buy anywayblink.png

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My advice is NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT.

I just can't say that enough times. There are dozens of unhappy threads on TV about men that bought property and regretted it, but few or none from men that rent.

Thaibeachlovers unfortunately, you don't understand the concept of the "buying vs renting" lifestyle. Renting, you are throwing money away each month and you cannot alter the property you rent to suit you......its a temporary existence. And that may suit you and others ....Fine.

You say "Never, Never Never buy Property" .....but buying property, you have something! Something tangible, something you can alter, change or rearrange to your liking. Something to leave your wife and children. Not saying buying property is for everyone .......but an emphatic NO is downright BAD advice.blink.png

Every situation is different, and as such all such variables should be taken into consideration in whether to buy or not. whistling.gif

That's not the reason I say don't buy. I say don't buy because it's Thailand and there is no such thing as guarantee in relation to property in LOS.

Did you not read the big thread a while back by the Brit that was ripped off very badly in Phuket- lost millions and millions? Could happen to anyone.

I say don't buy because it's safer- like an insurance policy- costs you but you hope it's not used. Also because an all night karaoke or a rock grinding factory might move in next door and there is NOTHING you can do about it.

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Bought several houses over the years but never thought I'm ready to die !!!!

Here have took great delight and a lot of pride in building a house which we now live in no rent to pay as my old man once told me rent money is wasted money.

Rent is only wasted money if you are a young man. Over 50, rent is not wasted money compared to building or buying in Thailand.

Agreed that buying is not for everyone. Especially if you are new to Thailand renting makes much more sense until you are sure you want to stay.

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My advice is NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT.

I just can't say that enough times. There are dozens of unhappy threads on TV about men that bought property and regretted it, but few or none from men that rent.

Thaibeachlovers unfortunately, you don't understand the concept of the "buying vs renting" lifestyle. Renting, you are throwing money away each month and you cannot alter the property you rent to suit you......its a temporary existence. And that may suit you and others ....Fine.

You say "Never, Never Never buy Property" .....but buying property, you have something! Something tangible, something you can alter, change or rearrange to your liking. Something to leave your wife and children. Not saying buying property is for everyone .......but an emphatic NO is downright BAD advice.blink.png

Every situation is different, and as such all such variables should be taken into consideration in whether to buy or not. whistling.gif

That's not the reason I say don't buy. I say don't buy because it's Thailand and there is no such thing as guarantee in relation to property in LOS.

Did you not read the big thread a while back by the Brit that was ripped off very badly in Phuket- lost millions and millions? Could happen to anyone.

I say don't buy because it's safer- like an insurance policy- costs you but you hope it's not used. Also because an all night karaoke or a rock grinding factory might move in next door and there is NOTHING you can do about it.

Not everyone lives in Pattaya!bah.gif

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.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

Well .....if one has live "from hand to mouth" existence by living in a 2-3 thousand baht/month room.....I guess your right ....RENT, RENT, RENT..

Couldn't afford to buy anywayblink.png

Good try, but fail.

I rented a cheap place in Pattaya because I liked the area we lived in, and it was a nice room, nice landlady. My wife and she became friends.

I had no desire to live in a condo with a load of other farangs in a little farang bubble. Could have afforded it no problem.

I don't live in a rented room now. Haven't for 3 years.

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My advice is NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT, NEVER BUY PROPERTY-RENT.

I just can't say that enough times. There are dozens of unhappy threads on TV about men that bought property and regretted it, but few or none from men that rent.

Thaibeachlovers unfortunately, you don't understand the concept of the "buying vs renting" lifestyle. Renting, you are throwing money away each month and you cannot alter the property you rent to suit you......its a temporary existence. And that may suit you and others ....Fine.

You say "Never, Never Never buy Property" .....but buying property, you have something! Something tangible, something you can alter, change or rearrange to your liking. Something to leave your wife and children. Not saying buying property is for everyone .......but an emphatic NO is downright BAD advice.blink.png

Every situation is different, and as such all such variables should be taken into consideration in whether to buy or not. whistling.gif

That's not the reason I say don't buy. I say don't buy because it's Thailand and there is no such thing as guarantee in relation to property in LOS.

Did you not read the big thread a while back by the Brit that was ripped off very badly in Phuket- lost millions and millions? Could happen to anyone.

I say don't buy because it's safer- like an insurance policy- costs you but you hope it's not used. Also because an all night karaoke or a rock grinding factory might move in next door and there is NOTHING you can do about it.

Not everyone lives in Pattaya!bah.gif

?????? The only place mentioned is Phuket, and they don't have rockgrinding factories in Pattaya residential areas.

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One option for those fresh off the banana boat and who dont really know what they want to do here might be to buy a small condo in an established and popular building in a tourist area (these are widely available from around 1.5MB or less) to use as a base. From there it would be possible to travel around for long or short periods without having to move all your stuff, and without having to worry about updating postal addresses and car registrations etc etc. The total cost of owning such a unit would probably be under 10,000B year and it should be fairly easy to sell on once you have a better idea of what you want to do permanently.

A bit like owning a large hotel room really.

As has been mentioned many times already: dont buy anything at all expensive until you have lived in the area for a long time, and dont trust anyone.

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Many posters seem concerned about planning what to do once retired.

I lived a vacuous and intrinsically pointless existence for 30 years when I was earning a living back in Europe. Now that I have retired to Thailand I still live exactly the same way, except that I no longer have to waste so much of my time working.

Suits me.

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One option for those fresh off the banana boat and who dont really know what they want to do here might be to buy a small condo in an established and popular building in a tourist area (these are widely available from around 1.5MB or less) to use as a base. From there it would be possible to travel around for long or short periods without having to move all your stuff, and without having to worry about updating postal addresses and car registrations etc etc. The total cost of owning such a unit would probably be under 10,000B year and it should be fairly easy to sell on once you have a better idea of what you want to do permanently.

A bit like owning a large hotel room really.

As has been mentioned many times already: dont buy anything at all expensive until you have lived in the area for a long time, and dont trust anyone.

dont trust anyone.

Should have been my first words of advice.

Newbies should print that on a card and whenever they get told something that sounds great take it out and read it several times before responding.

Especially don't trust a farang. Enough ex SAS or special forces guys in Pattaya to fill several regiments.

I once met a farang that told me he was the next Dali Lama, and then he asked me for money for the "cause". Pretty convincing too, LOL.

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Don't marry. Learn to be independent of anyone, before finding the one that is " different". The language thing is not as important as some on here think. At 65 who has the time inclination or need. Basic Thai will do.

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Not everyone lives in Pattaya!bah.gif

?????? The only place mentioned is Phuket, and they don't have rockgrinding factories in Pattaya residential areas.

.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

You say "A room in a nice Thai apartment block in Pattaya cost me 5,000 a month...." Thats why I mention Pattaya!whistling.gif

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Many posters seem concerned about planning what to do once retired.

I lived a vacuous and intrinsically pointless existence for 30 years when I was earning a living back in Europe. Now that I have retired to Thailand I still live exactly the same way, except that I no longer have to waste so much of my time working.

Suits me.

Love it. You speak truth. Same for me except I wasted 36 years working. I did manage to spend one year doing a job I loved, and had 2 years living somewhere I loved while doing a job that I didn't, so 5 years out of 41 that were great.

If I met the Dr I'd go back to 1967 and do a job I enjoyed for my working life, and if that wasn't possible I'd do one that paid a lot better.

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Good try, but fail.

I rented a cheap place in Pattaya because I liked the area we lived in, and it was a nice room, nice landlady. My wife and she became friends.

I had no desire to live in a condo with a load of other farangs in a little farang bubble. Could have afforded it no problem.

I don't live in a rented room now. Haven't for 3 years.

Ahhhh.....so you have bought a place. Going against your Adviceblink.png

Gotta get your story straight!whistling.gif

Edited by beachproperty
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Not everyone lives in Pattaya!bah.gif

?????? The only place mentioned is Phuket, and they don't have rockgrinding factories in Pattaya residential areas.

.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

You say "A room in a nice Thai apartment block in Pattaya cost me 5,000 a month...." Thats why I mention Pattaya!whistling.gif

Fair enough, but the advice was universal, not just for Pattaya. Doubt you'd get anything good for 2-3 thousand in Pattaya.

Lived elsewhere in LOS longer than I lived in Pattaya.

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Bought several houses over the years but never thought I'm ready to die !!!!

Here have took great delight and a lot of pride in building a house which we now live in no rent to pay as my old man once told me rent money is wasted money.

Rent is only wasted money if you are a young man. Over 50, rent is not wasted money compared to building or buying in Thailand.
Ok so let's do the maths then 50 yr old average life conservative 85 so 35 yrs rent our condo in pattaya 7500pm so that's 90,000 per year x 35 yrs 3,150,000.

2 bed two bath house including fixtures and fittings just a few bht short of 500,000bht so at 85 I'm 2,650,000 in pocket so how is renting better?? Stable home no moving around rented to rented. Now before you say but I can't own it or land I have a 50 year lease on land from wife (hers as wedding gift from family. I have yellow book which means nothing as such but if things happen and we divorce ect although I wouldn't I can demand half or sell house to recover. But house is for my family here and now when I'm gone they have stability.

You make a valid point IF you stay in the house for 35 years. I cant imagine doing that myself. I'd go bonkers even in a mc mansion.

My guess is that after 10 years or so your family would need to move whether for a chance of scenery or circumstance. The usual route is renting your old home out or selling, or getting a loan off the old place to by a new one. Blah, blah, blah we all know the risks and difficulties with this even with a great agent. Not for me, one of the reasons i moved here was to get away from property nonsense, renting is great plain and simple.

But then again some people with the time and patience could work it.

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How many years have you spent in Thailand total? Why Thailand? Visiting and living in a place are two different things.... You cannot own a home, you cannot own land.

Do you speak Thai? May I suggest that you go to a Thai School, regardless of your age, could save you thousands of dollars.

Your questions are directed at whom???

The poster, preparing to move to Thailand. Who else would it be directed to.?
Just asking darling that's alk
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Bought several houses over the years but never thought I'm ready to die !!!!

Here have took great delight and a lot of pride in building a house which we now live in no rent to pay as my old man once told me rent money is wasted money.

Rent is only wasted money if you are a young man. Over 50, rent is not wasted money compared to building or buying in Thailand.
Ok so let's do the maths then 50 yr old average life conservative 85 so 35 yrs rent our condo in pattaya 7500pm so that's 90,000 per year x 35 yrs 3,150,000.

2 bed two bath house including fixtures and fittings just a few bht short of 500,000bht so at 85 I'm 2,650,000 in pocket so how is renting better?? Stable home no moving around rented to rented. Now before you say but I can't own it or land I have a 50 year lease on land from wife (hers as wedding gift from family. I have yellow book which means nothing as such but if things happen and we divorce ect although I wouldn't I can demand half or sell house to recover. But house is for my family here and now when I'm gone they have stability.

.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

To answer your comments I don't presume I used my situation I rented a condo 7500pm (My choice) I am 55 yrs old and retired that's the age you can retire here (my choice) so 35 yrs in my case. I didn't buy I built not in pattaya in Khon Kaen. No chance of factories next door I bought land around house. So as you say don't presume until you have the facts thankyou

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... 2 bed two bath house including fixtures and fittings just a few bht short of 500,000bht ...

A house? Really?

Yes, quite possible. I paid 600,000 baht for a 2BR house, brick/cement render, tiled roof. Western and Thai bathrooms. Western kitchen indoors, Thai kitchen under the carport. Tiled floors.

The fixtures and fittings are not to Western standard; however, they do the job.

The builder was paying the mainly Burmese workmen 200 baht a day.

We had a strong earthquake a couple of weeks ago, no cracks.

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The one and only thing that would stop me retiring full time in Thailand is the weather. Everything else I can either change or adapt to.

Really, the lovely weather here is the main thing that prompted me to retire to Thailand.

Yes I hear that often and understand but for me the heat is too much. 3 months a year is ok for me.
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Bought several houses over the years but never thought I'm ready to die !!!!

Here have took great delight and a lot of pride in building a house which we now live in no rent to pay as my old man once told me rent money is wasted money.

Rent is only wasted money if you are a young man. Over 50, rent is not wasted money compared to building or buying in Thailand.

Totally disagree. When you're young you're more likely to move around, more mobile lifestyle, just as in the West. As you age you become 'been there done that' and want a plot of your own you can customise to your own tastes. You don't want to be forever wondering if the landlord/lady will toss you out on a whim because he/she's found a more lucrative tenant.

And it may be news to you, but people can and do die at any age. Immortality is not the preserve of the young.

Edited by dageurreotype
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Rent is only wasted money if you are a young man. Over 50, rent is not wasted money compared to building or buying in Thailand.
Ok so let's do the maths then 50 yr old average life conservative 85 so 35 yrs rent our condo in pattaya 7500pm so that's 90,000 per year x 35 yrs 3,150,000.

2 bed two bath house including fixtures and fittings just a few bht short of 500,000bht so at 85 I'm 2,650,000 in pocket so how is renting better?? Stable home no moving around rented to rented. Now before you say but I can't own it or land I have a 50 year lease on land from wife (hers as wedding gift from family. I have yellow book which means nothing as such but if things happen and we divorce ect although I wouldn't I can demand half or sell house to recover. But house is for my family here and now when I'm gone they have stability.

.

Great thundering balls of fire, why do posters on TV always assume a farang has to live in a condo? A room in a nice Thai apartment block in Pattaya cost me 5,000 a month, and where I live now can get one for 2-3 thousand.

Anyway, not everyone wants to stay in the same place rest of their life, ESPECIALLY when retired.

What are you going to do if they set up a rock grinding factory next door- you know you won't get it stopped TiT.

Let's say he buys in Pattaya, meets a nice girl and goes to live in the village- can't sell the place as no buyers now and can't rent at a decent price as hundreds of condos/ houses on the market. Where's your calculations now?

BTW most men retire at 65, so that's only 20 years not 35 years

To answer your comments I don't presume I used my situation I rented a condo 7500pm (My choice) I am 55 yrs old and retired that's the age you can retire here (my choice) so 35 yrs in my case. I didn't buy I built not in pattaya in Khon Kaen. No chance of factories next door I bought land around house. So as you say don't presume until you have the facts thankyou

Sorry, but my reply wasn't specifically about you, which is why I said why do posters on TV . You aren't the first and you won't be the last to apparently assume all farangs want to live in a condo or a house. If that's not what you meant, apologies.

So my reply applies to the many cases where resident do aquire an all night karaoke next door.

BTW, rock grinding factories pollute the air for miles and I assume you haven't bought that much land around the house. Just a mo. Are you a Thai citizen, because if you aint you are not buying any land, and it's illegal to buy it in your wife's name.

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The OP should consider renting for at least TWO YEARS and use that time to discover the 'best' place to finally settle down. Avail yourself of 6-month leases so that one can escape from choices that turn bad such as the new, neighborhood karaoke shop opening next door. This will also allow more than enough time for the OP to acclimatize both mentally and physically to retired life in LOS (just in case any gild starts to fall off the Thai lily). It may also embrace significant events that will define this country's future and thus strongly influence his own.

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The OP should consider renting for at least TWO YEARS and use that time to discover the 'best' place to finally settle down. Avail yourself of 6-month leases so that one can escape from choices that turn bad such as the new, neighborhood karaoke shop opening next door. This will also allow more than enough time for the OP to acclimatize both mentally and physically to retired life in LOS (just in case any gild starts to fall off the Thai lily). It may also embrace significant events that will define this country's future and thus strongly influence his own.

Agree, there's no predicting what might happen in Thailand in the next couple of years. The owners who are holding forth on the security their property affords may well have their world turned upside down. Renters won't be affected, except in the case of a marked increase in rents, which IMHO is very unlikely to happen. It's my observation in Chiang Mai rents are actually falling, due to the large number of investor condos being built.

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Advice to OP:

1/ Rent, don't buy. It's easy to buy property in Thailand, and horrendously difficult to sell. Renting is very cheap here.

2/ Learn Thai. You don't have to be fluent; however, it is much better here if you can at least communicate.

3/ Keep most of your assets in your home country, and only transfer here what you need to live onII.

4/ Research where you want to live. I live in Chiang Mai. Others don't like it. Pick what appeals to you.

5/ Consider your health. While the health system here is reasonably good, if you have health issues it can be quite expensive here.

6/ Take your time with the Thai ladies. Yes, they can be very seductive. However, if you feel the need for company you must establish trust both ways.

7/ Get used to Thainess. Thais think differently and not necessarily logically.

8/ If you acquire any vehicle here, learn to drive defensively. It's the only way to survive.

9/ Try to enjoy spicy food. It's better for you in terms of food absorption, and also killing any bacteria or parasites. If you have a weight problem, a diet of 90% Thai cuisine will reduce it.

10/ Buslnesses run by falangs to cater for the needs of other falangs don't necessarily have your best interests at heart. Be careful.

11. You really have to be a complete idiot to get yourself into trouble with the police in Thailand. However, there are some who volunteer for the position.

12. Banking here is very secure if you stick to a savings passbook. Only use ATM's outside banks. Thailand is a cash economy, so carry enough cash with you for day-to-day expenses. A lot of card fraud here.

Good luck.

biggrin.png

I

I assume you mean Western Logic. Thais have their logic.

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Just remember when you get your UK pension it is not updated every year,better to keep your UK address that if you are going back now and again,boredom is the main thing here,and drinking more than you ever have in the UK,i have lived here 7 years and no you do not have to learn thai,if you have a good girlfriend she will do every thing for you,bit of advice find one which talks English so much easier, renting is very cheap up north i live in Phayao and i pay 4000 BHT for a 2 bedroom house,now in Bangkok with all the smog you would pay 15.000 BHT a month for the same thing,and also buying things up here is 1/2 a cheap than Pattaya or Bangkok. It is very cheap to run a car or a bike here but car prices are very high to buy new.To live here is relaxing away from all the politics of London,internet around Thailand is the same every where many to choose from i have bb which is about 11 pound a month,your water will cost you about 50 pence a month,empty the dustbin once a week is about 20 pence,electric about 20 quid a month,to have your bottle filled with gas is about 7 pound but lasts a long time.

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