Advice needed for landed detached house

[timberpond]

1 million!!! It's a steal...

[rocketboybkk]

My MIL was eyeing on a small terrace behind Tesco 6 years ago in the north. It was asking for 1.2 million, not a huge double story house. Last month we causally inquired the price and it is already 2.6 million. Location, location, location...

The question is will it sell at 2.6 million?

As I always say it's easy to buy but not so easy to sell.

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[blackcab]

Samut Prakarn can be a good option.

Thai people (I know, big generalization here) tend to hang on to property even if it's empty, falling apart, flooded etc., - as there's a strong belief that land (and gold) are good long term investments. And by long term I mean generations.

So you find that the only houses for sale are ones where debt or other issue are forcing a sale.

(There's also the new-build houses for sale in the Mooban Estates - but they tend to be in unpopular flood zones miles from public transport ... and they are, in effect, horizontal condos.

So look carefully to find a house with potential and a credible reason for sale and ensure any debt is cleared - and as others have said location is key .....

The BTS is still growing in and around Samut Prakarn - so even though the initial rise in value when the BTS plans were revealed will be factored in to any sale - there's another rise when the stations open. So look along the growth path of the BTS and try to find something within 'motorsai' range of the stations.

Then look for something where you can increase the value by improving the property. Older Thai houses tend to grow poor quality lean-to extensions, and some also have enough land to build a proper extension after pulling down the tatty lean-to.

Some of my Thai friends have bought older houses near the BTS route, improved them with sensible upgrades such as adding covered parking or proper bathrooms and kitchens, and seen good growth in values.

And although Samut Prakarn looks like a seamless extension of Bangkok to me ....... to Thai eyes it's a different village with significantly lower land prices. So there's bargains to be had if you search .... and your Wife is not too HiSo to have a Samut Prakarn address.

Anything with a Bang Na or On Nut address will be more expensive .... so look at Bearing and beyond for best value.

Try to avoid anything where the road is the only transport option - traffic jams will kill the value.

And of course don't invest more than you can walk away from.

The company I work for recently bought some land in the Bang Na area.

65,000/Sq Wah = 16,250/Sq Meter.

[coulson]

My MIL was eyeing on a small terrace behind Tesco 6 years ago in the north. It was asking for 1.2 million, not a huge double story house. Last month we causally inquired the price and it is already 2.6 million. Location, location, location...

yes... location, location, location... but the problem is which location... ... may i know which area in the north was your MIL eyeing earlier ?

Just want to understand more about the property market there..

Location can be tricky. One side of the road can be valued multiple times a similar plot directly across the road...

that is so true... actually i am not greedy dreaming to have a big appreciation... all i hope for is just no depreciation and if possible getting some appreciation.. at least it is easy to sell in the future rather than no second hand demand at all..

For the location of a home along Bangna, proximity to a planned mass transit line is the best bet. Not the proximity to Mega Bangna or the main Bangna road.

You're spot on, that new Bangkok mall and bitec upgrade is going to turn that whole area into a traffic nightmare (as if it weren't already bad enough with all the logitics up and down from the river)

Geographically it's a great location, but the best thing anyone could do is plan to be within walking distance of the bts.

[timberpond]

The question is will it sell at 2.6 million?

As I always say it's easy to buy but not so easy to sell.

Sent from my iPhone using Tapatalk

Sometime, somehow... a falang like you and me will buy it. LOL