Me, $200,000 ANd a Pattaya condo

[BuriramDevelopers]

Like said before. Own your investment. Don't rely on others. Or get to learn the law before you get in. And the real estate is not particularly stable or promising big growth right now. Only if you buy wise, and specific properties. Just buying land or condo's or whatever , or building more of the same, is no guarantee whatsoever for a r.o.i. (return on investment).

I prefer land over bricks any day as invesment that is, but owning land in Thailand is,as you might know, not as easy to protect yourself legally . You can really only own your house, but not the land it is build on. There are constructions for this, but like said, get to know the law first ,

It is highly recomendable to get to know the local landscape too before buying anything,

The plot on this end of the street, might be valued completely different, than the one on the other end of teh same street, for various reasons.

You need a thrustworthy guide, to get you to know the Thai prices, so you know the worth of things. That is the firt step i would take in a new enviroment. Get to know the prices the locals pay. Property can be bought pretty cheap , if you network and find out who is looking for quick sales. Preferably look within the Thai community if it is land you search. Condo's i can not advice you on. Enough of those, and easy to explain, to find your own way i guess

A house i would always build myself , or at least let it be build. It is cheaper and you get exactly what you prefer.

GL

Edited February 6, 2016 by BuriramDevelopers

[mcfish]

Buy only if you plan to live in it forever and have no interest in ever selling it. As an investment- do not buy. Remember, cash is king.

Silliest post so far. If all you ever did was pay rent, car payments, utilities, food, entertainment and then stuck the meagre few dollars left over into a bank account, how long would it take to save a million?... 1000 years? Bar stool posting at its best [emoji1]

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[Bruzzzz]

Buy only if you plan to live in it forever and have no interest in ever selling it. As an investment- do not buy. Remember, cash is king.

Silliest post so far. If all you ever did was pay rent, car payments, utilities, food, entertainment and then stuck the meagre few dollars left over into a bank account, how long would it take to save a million?... 1000 years? Bar stool posting at its best [emoji1]

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mcfish. I don't understand the relevance of your posts.

For a start the OP only asks for advice about investment in a condo in Pattaya. You are only speculating if he will live in it or rent it out or even if he lives in Thailand or just visits but for the purpose of discussion let's assume he lives in Thailand full time.

Secondly. For whatever reason he said Pattaya not Sukhumvit. Would you propose he buys in Sukhumvit if he lives in Pattaya? Now that would be silly.

Also. Utilities are payable whether you own or rent and what has saving a million, car repayments, food and entertainment got to do with the OP's question about investing in a Pattaya condo?

So from your post the sole relevant point is the rent and you previously posted rent money = dead money which is such a cliche and based on the presumption that property values always go up substantially. An unlikely future in Thailand.

Rent is a known expense that you have discretion over and the rents are dropping due to high vacancy rates.

In the dodgy, volatile and risky Thai real estate market I am more inclined to expect capital investment = capital loss.

Also to consider are the management and maintenance costs which are a dead loss and quite considerable particularly due to the pathetic construction quality of most Thai buildings.

But one very important reason to rent rather than buy is the ease and flexibility to upgrade, downgrade or change location.

IMHO the OP should either invest his cash in a safe Western Bank and collect interest at little risk or buy suitable property in the West and collect rent.

I don't advocate playing the markets. Leave that to the gamblers.

[Bruzzzz]

PS. It seems you believe a poster's location is important.

I am poolside posting. Is ok with you?

[JSixpack]

I feel sure the OP is a troll post and shouldn't be taken seriously. We must have a hundred FOOLS BUY REAL ESTATE threads around. Heard it all before, for years, same thing.

Why not just stay on topic and give names of condos in the price range, if you know any, and be done with it w/o all the same ol' shoulds and shouldn'ts and schoolmarm warnings.

[mcfish]

Buy only if you plan to live in it forever and have no interest in ever selling it. As an investment- do not buy. Remember, cash is king.

Silliest post so far. If all you ever did was pay rent, car payments, utilities, food, entertainment and then stuck the meagre few dollars left over into a bank account, how long would it take to save a million?... 1000 years? Bar stool posting at its best [emoji1]

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mcfish. I don't understand the relevance of your posts.

For a start the OP only asks for advice about investment in a condo in Pattaya. You are only speculating if he will live in it or rent it out or even if he lives in Thailand or just visits but for the purpose of discussion let's assume he lives in Thailand full time.

Secondly. For whatever reason he said Pattaya not Sukhumvit. Would you propose he buys in Sukhumvit if he lives in Pattaya? Now that would be silly.

Also. Utilities are payable whether you own or rent and what has saving a million, car repayments, food and entertainment got to do with the OP's question about investing in a Pattaya condo?

So from your post the sole relevant point is the rent and you previously posted rent money = dead money which is such a cliche and based on the presumption that property values always go up substantially. An unlikely future in Thailand.

Rent is a known expense that you have discretion over and the rents are dropping due to high vacancy rates.

In the dodgy, volatile and risky Thai real estate market I am more inclined to expect capital investment = capital loss.

Also to consider are the management and maintenance costs which are a dead loss and quite considerable particularly due to the pathetic construction quality of most Thai buildings.

But one very important reason to rent rather than buy is the ease and flexibility to upgrade, downgrade or change location.

IMHO the OP should either invest his cash in a safe Western Bank and collect interest at little risk or buy suitable property in the West and collect rent.

I don't advocate playing the markets. Leave that to the gamblers.

So let me get this straight. I tell him to buy in bangkok because it's usually better growth and I'm off topic Because it's not Pattaya. yet you tell him to put it in a bank and that's on topic? Waaaaad?

Now which western bank are you talking about. please let's see an example of what 200k can do and don't forget to ad in capital growth [emoji1] [emoji1] [emoji1]

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Edited February 6, 2016 by mcfish

[tropo]

Buy in a stable country where you can actually get actual residential status, like maybe Syria or something.

You may think this is a frivolous comment but it is NOT. It is very sound advice. As the following post says, look elsewhere. You just cannot sell anything

here and it has been the same for at least the past 4 years. With the current state of affairs here and the mind think herein, there is no light at the end of the

rainbow.

If you are looking for a retirement location, look elsewhere.

This is very sound advice. If I could travel back to a point of time 10 years ago, before I came to Thailand, I wouldn't come.

Find somewhere else to retire... AND, most importantly, DON'T marry one.

[Bruzzzz]

Buy only if you plan to live in it forever and have no interest in ever selling it. As an investment- do not buy. Remember, cash is king.

Silliest post so far. If all you ever did was pay rent, car payments, utilities, food, entertainment and then stuck the meagre few dollars left over into a bank account, how long would it take to save a million?... 1000 years? Bar stool posting at its best [emoji1]

Sent from my SC-01D using Tapatalk

mcfish. I don't understand the relevance of your posts.

For a start the OP only asks for advice about investment in a condo in Pattaya. You are only speculating if he will live in it or rent it out or even if he lives in Thailand or just visits but for the purpose of discussion let's assume he lives in Thailand full time.

Secondly. For whatever reason he said Pattaya not Sukhumvit. Would you propose he buys in Sukhumvit if he lives in Pattaya? Now that would be silly.

Also. Utilities are payable whether you own or rent and what has saving a million, car repayments, food and entertainment got to do with the OP's question about investing in a Pattaya condo?

So from your post the sole relevant point is the rent and you previously posted rent money = dead money which is such a cliche and based on the presumption that property values always go up substantially. An unlikely future in Thailand.

Rent is a known expense that you have discretion over and the rents are dropping due to high vacancy rates.

In the dodgy, volatile and risky Thai real estate market I am more inclined to expect capital investment = capital loss.

Also to consider are the management and maintenance costs which are a dead loss and quite considerable particularly due to the pathetic construction quality of most Thai buildings.

But one very important reason to rent rather than buy is the ease and flexibility to upgrade, downgrade or change location.

IMHO the OP should either invest his cash in a safe Western Bank and collect interest at little risk or buy suitable property in the West and collect rent.

I don't advocate playing the markets. Leave that to the gamblers.

So let me get this straight. I tell him to buy in bangkok because it's usually better growth and I'm off topic Because it's not Pattaya. yet you tell him to put it in a bank and that's on topic? Waaaaad?

Now which western bank are you talking about. please let's see an example of what 200k can do and don't forget to ad in capital growth [emoji1] [emoji1] [emoji1]

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Yes. You got it it straight.

He asked about investing in a Pattaya condo and I posted why he shouldn't and I gave two reasoned alternatives one of which is a safe Western Bank. He didn't say where he is from so I am unable to recommend a suitable bank but obviously it must be accessible for him.

What you failed to absorb is my philosophy that $200k safely banked albeit returning little is a better outcome than $200k squandered in the risky Thai property market.

Call me conservative but I don't believe it is prudent to base investment and financial decisions on historical growth figures while economies are in flux and even the experts don't know when things will improve. Don't you agree?

[mcfish]

Buy only if you plan to live in it forever and have no interest in ever selling it. As an investment- do not buy. Remember, cash is king.

Silliest post so far. If all you ever did was pay rent, car payments, utilities, food, entertainment and then stuck the meagre few dollars left over into a bank account, how long would it take to save a million?... 1000 years? Bar stool posting at its best [emoji1]

Sent from my SC-01D using Tapatalk

mcfish. I don't understand the relevance of your posts.

For a start the OP only asks for advice about investment in a condo in Pattaya. You are only speculating if he will live in it or rent it out or even if he lives in Thailand or just visits but for the purpose of discussion let's assume he lives in Thailand full time.

Secondly. For whatever reason he said Pattaya not Sukhumvit. Would you propose he buys in Sukhumvit if he lives in Pattaya? Now that would be silly.

Also. Utilities are payable whether you own or rent and what has saving a million, car repayments, food and entertainment got to do with the OP's question about investing in a Pattaya condo?

So from your post the sole relevant point is the rent and you previously posted rent money = dead money which is such a cliche and based on the presumption that property values always go up substantially. An unlikely future in Thailand.

Rent is a known expense that you have discretion over and the rents are dropping due to high vacancy rates.

In the dodgy, volatile and risky Thai real estate market I am more inclined to expect capital investment = capital loss.

Also to consider are the management and maintenance costs which are a dead loss and quite considerable particularly due to the pathetic construction quality of most Thai buildings.

But one very important reason to rent rather than buy is the ease and flexibility to upgrade, downgrade or change location.

IMHO the OP should either invest his cash in a safe Western Bank and collect interest at little risk or buy suitable property in the West and collect rent.
I don't advocate playing the markets. Leave that to the gamblers.

So let me get this straight. I tell him to buy in bangkok because it's usually better growth and I'm off topic Because it's not Pattaya. yet you tell him to put it in a bank and that's on topic? Waaaaad?

Now which western bank are you talking about. please let's see an example of what 200k can do and don't forget to ad in capital growth [emoji1] [emoji1] [emoji1]


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Yes. You got it it straight.
He asked about investing in a Pattaya condo and I posted why he shouldn't and I gave two reasoned alternatives one of which is a safe Western Bank. He didn't say where he is from so I am unable to recommend a suitable bank but obviously it must be accessible for him.

What you failed to absorb is my philosophy that $200k safely banked albeit returning little is a better outcome than $200k squandered in the risky Thai property market.

Call me conservative but I don't believe it is prudent to base investment and financial decisions on historical growth figures while economies are in flux and even the experts don't know when things will improve. Don't you agree?

You dodged my question but ok good luck with your 3% taxable, zero capital growth on your money whilst you tare up 30k a month on rent.
Please show us how you will become wealthy?



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[khunpa]

I would base any "investment" in Thailand only on personal interests here and your ability to leave it all behind, without losing everything you own.

Like if you have a wife and kids here and plan to live here the rest of your life, then buying a condo is not a bad idea. However... ANY investment in this country is very risky, especially due to the political situation. You never know what is going to happen

Many people say "Do never invest anything here, that you can not afford to lose"... My advice is to listen good to the people who say that :-)

Edited February 6, 2016 by Rimmer

[mcfish]

A good example why renters got it so so wrong was the 2008 sub prime crises that plunged the USA property and European property market in a total crash. Yet thailand was untouched. thousands of posts prior to that were always saying buy in the West.. Well they did their <deleted> .. Great advice

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Edited February 6, 2016 by mcfish

[john1000]

That money would buy a studio in View Talay 6, or a house in Burriam. All relative. I would buy in my country and rent out. Peace of mind is priceless.

[fosseway]

Rent money =dead money

I'm yet to see where sticking you're bucks in a bank gives you the same growth as real estate.. Oh wait apparently upstart micro finance "banks" in true third world countries are offering great interest.. Im sure Cambodia and Myanmar are super safe... Lol

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About 30 years ago when our condo was built, the selling price was 1.5 Million Baht, for a high floor 95 s.m. unit. todays price for the same unmodernized room would be about 6 to 7 Million, so that would show a capital gain of 4.5 to 5.5 Million, lets guesstimate 1.5 Million for dues and maintenance over that period, it still leaves you with a gain of 3 to 4 Million Baht.

Now, lets say you lived there for those 30 years, I would say the "Average" rental would be 20K per Month, so, 20x12= 240 x 30 = 7.2 Million Baht, plus the 3 to 4 million capital gain = 10.2 to 11.2 Million Baht ! total gain/ advantage on buying over rental.

Interest on the original 1.5 Million would of have to be calculated and subtracted from the above, no doubt someone will do that for me. The other advantage is that you have a place you can call your own, have security of tenure and can update and decorate to your own liking.

[vukovar77]

Rent money =dead money

I'm yet to see where sticking you're bucks in a bank gives you the same growth as real estate.. Oh wait apparently upstart micro finance "banks" in true third world countries are offering great interest.. Im sure Cambodia and Myanmar are super safe... Lol

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About 30 years ago when our condo was built, the selling price was 1.5 Million Baht, for a high floor 95 s.m. unit. todays price for the same unmodernized room would be about 6 to 7 Million, so that would show a capital gain of 4.5 to 5.5 Million, lets guesstimate 1.5 Million for dues and maintenance over that period, it still leaves you with a gain of 3 to 4 Million Baht.

Now, lets say you lived there for those 30 years, I would say the "Average" rental would be 20K per Month, so, 20x12= 240 x 30 = 7.2 Million Baht, plus the 3 to 4 million capital gain = 10.2 to 11.2 Million Baht ! total gain/ advantage on buying over rental.

Interest on the original 1.5 Million would of have to be calculated and subtracted from the above, no doubt someone will do that for me. The other advantage is that you have a place you can call your own, have security of tenure and can update and decorate to your own liking.

It was 30 years ago,not now!!!Prices were much more cheaper there!

Even in your case if you put in bank with interest you can raise 1,5 mil. baht to 6 million baht in that period of 30 years!If you put in dividend stocks in SET or USA ,you could get much more than 12 million baht! You did not rent property ,so rental is not important!

Besides you had cost of living,maintenance fee,etc at least 1 million baht!

We are talking about buy condo NOW!!!!Not a same!!!

Now is crazy to do it in Thailand!!!

[fosseway]

Rent money =dead money

I'm yet to see where sticking you're bucks in a bank gives you the same growth as real estate.. Oh wait apparently upstart micro finance "banks" in true third world countries are offering great interest.. Im sure Cambodia and Myanmar are super safe... Lol

Sent from my SC-01D using Tapatalk

About 30 years ago when our condo was built, the selling price was 1.5 Million Baht, for a high floor 95 s.m. unit. todays price for the same unmodernized room would be about 6 to 7 Million, so that would show a capital gain of 4.5 to 5.5 Million, lets guesstimate 1.5 Million for dues and maintenance over that period, it still leaves you with a gain of 3 to 4 Million Baht.

Now, lets say you lived there for those 30 years, I would say the "Average" rental would be 20K per Month, so, 20x12= 240 x 30 = 7.2 Million Baht, plus the 3 to 4 million capital gain = 10.2 to 11.2 Million Baht ! total gain/ advantage on buying over rental.

Interest on the original 1.5 Million would of have to be calculated and subtracted from the above, no doubt someone will do that for me. The other advantage is that you have a place you can call your own, have security of tenure and can update and decorate to your own liking.

It was 30 years ago,not now!!!Prices were much more cheaper there!

Even in your case if you put in bank with interest you can raise 1,5 mil. baht to 6 million baht in that period of 30 years!If you put in dividend stocks in SET or USA ,you could get much more than 12 million baht! You did not rent property ,so rental is not important!

Besides you had cost of living,maintenance fee,etc at least 1 million baht!

We are talking about buy condo NOW!!!!Not a same!!!

Now is crazy to do it in Thailand!!!

Yes, of course prices were very much cheaper 30 years ago, as I quoted, I don't see your point here.

If you invested 1.5 Million in the Thai stock (SET) you would have lost all of it in the "Tom Yum" crisis. But even if you did strike it lucky with your dividends or US stocks, where are you going to live? that costs money where ever that is in the world.

No, I did not rent the condo set out as an example, but the subject in question is to rent or buy.

I don't understand what the cost of living has to do with it.

[tropo]

What's the expression.... "A fool and his money are often parted "

No, that's not it.,, it's "A food and his money are SOON parted". i.e. it's inevitable... just a matter of when.

[newnative]

Totally agree with Fosseway and the points he makes are valid for today. 30 years from now they will be saying the same thing Vukovar is saying now--condos were a lot cheaper in 2016. It doesn't really matter where you begin marking your real estate ownership. If you buy your condo today, 30 years from now you will have savings like Fosseway from not renting for 30 years. I think we can all agree that if you are just here short term, for goodness sake rent. If you get bored easily and want a different view every few months, rent. If you worry about noisy neighbors or a noisy neighborhood, rent. If you're worried about the Thai political situation, rent. If you want to sample different neighborhoods of Pattaya or different cities of Thailand, rent. If you want the landlord to deal with every problem, rent. And, so on. If you're here for the long haul, buying can have advantages, especially if you like the joys of home ownership. For me, though, it's not all about how much money I can save by doing this or not doing that. For me, quality of life is important and that is especially true for the roof over my head. I could certainly live in a 5000 Baht a month furnished rental dive and have a fatter bank account but I'd much rather have a nice place to live in that I own and can make changes to and with the things I have collected over a lifetime. It's not always about making the most hard-nosed, bottom line, choices--at least not for me.

[berybert]

Personally I would invest in a place in my home country and let it out. The money you get for letting can then be spent as and how you please. No worries about losing anything if its at home.

[Basil B]

Buy only if you plan to live in it forever and have no interest in ever selling it. As an investment- do not buy. Remember, cash is king.

There is no problem in buying if second hand at rock bottom price, problem is to know what rock bottom is as you should be able to to sell it for that or even more, pity the land registry does not publish selling prices.

Edited February 6, 2016 by Basil B

[Morakot]

pity the land registry does not publish selling prices.

Forget about buying land, mobile homes are the latest thing...