Selling a house back home to buy one in Thailand etc

[how241]

Why not rent out your house and enjoy the rental income ? The banks don't pay much these days...

[buick]

i might have missed it but i think the key thing to know here is how much rent can you collect from your home outside thailand.  and how does that amount relate to your total expenses in thailand (rent, food, school, etc..).  i think it is preferable to keep your capital base abroad.  as others have noted, selling a home in thailand can take years.  i think many retirement/financial planners suggest renting your primary residence to support your lifestyle in a place where the cost of living is significantly cheaper than your home country.

[sjl]

Have to manage the downside risk and treat any money invested in Thailand as lost. If that proves not to be the case the that's great !

 

Rent the house back home and use the income in Thailand ......

 

 

[bbabythai]

5 hours ago, jeab1980 said:

Firstly im not a guest but i wont argue that point its been done to death. How can the millitary sieze something i dont own indeed cant own or are you saying there going to sieze legaly owned land from a Thai national?. Cant remember any news articles about that subject. As ive stated why if everything is in order would immigration void a visa. Why have you made such a big mistake?. 

Its exactly what I was thinking. The house and business would be in the thai wifes name. Its B.S for anyone to harp on about the military taking assets blah blah

[55Jay]

A modest, 3 bed 2 bath in a decent moo baan shouldn't break the bank.

 

Have you guys considered buying a town house/shop house, living upstairs and have the clinic at ground level?

 

Sounds like you got a "good" wife, that's great, but don't fall into the instant gratification trap.

 

Trust your gut on this one, and don't get rid of the biggest asset in your portfolio.  Try to make it work for you, save up for a while then help the wife get the business going.  And don't go quitting your job when you are adding liabilities and obligations to your life.  Hustle more and try to work yourself into a better paying position if you can. 

 

If the business doesn't do well, you still have that income producing asset.

 

If the business goes well, you'll still have that income producing asset + a blossoming business.  Then look at parlaying those 2 streams of income into the next goal of buying a house here. 

[bbabythai]

3 hours ago, DLang said:

Rent out the house at home.

 

Rent a property here.

 

Make a will leaving all your property at home to your child. I presume they have a passport.

 

 

Keep the house at home. Come up with another way to raise capital to help your wife set up her house and business here. 

I'm already renting it out and have done this for 15 yrs. Im already renting in Thailand and have done that for over 5 yrs.

 

The capital growth has been slow and I can make far more money via shares on Nasdaq.

 

The house is old in oz and pest / termites are a risk. Its a very strong sellers market at the moment. This could change in the future.

 

Im convinced that selling the house in oz is the best decision. Im not going to be sending all the cash over here. As I said I will probably only send a small 25% deposit (in thai). 25% of nothing is nothing.

[khunPer]

On 5/14/2017 at 6:45 AM, bbabythai said:

Has anyone else been in this situation where they have sold up back home to make a life over here...

Yes, but there are many factors to be concerned about, and take into consideration – you already mention some of them yourself – and what may be right for one, may not work for another.

 

Only you can judge your own situation – but said that, I will add that looked from my horizon, it seem good you saved up some funds and invested in Nasdaq, and at a point you can convert your stocks, or some of them, from gaining to dividend paying.

 

If it can hep you, in your considerations, I can tell about my thoughts and decisions for selling my property in my homeland, and instead "investing" in a house in Thailand. My situation may be slightly different from yours, as we seem to originate from different countries, I'm European Scandinavian, so also some factors as homeland taxation can be part of it.

 

 

I have no close family at home; instead I have a Thai girlfriend, and together we have a daughter, our only child (none of us has children from previous relationships).

 

I had reached an age, where early retirement was a consideration, based upon "enough is enough", and I rather wished to enjoy what I so far had managed to save up, than working hard for 10 more years, with the potential risk that I would not be healthy enough to enjoy my otium – and all that nice money...

 

For taxation reasons it would not be good to keep my homeland property; furthermore the real-estate market was peaking, so time to sell seemed favorable (and it was, as I managed to sell late 2006). Keeping it and renting it out could tax-wise end up as a loss, if property-market stopped gaining (which it did, it fell, and is yet hardly back up in the 2006-level, in my homeland area). Furthermore, having no property in my home country I could "sign out" from the tax-man; i.e. interest and capital gain would no longer be taxed, even I keep the money in my usual homeland bank; and property and funds I have abroad, would no longer be taxed in my homeland.

 

My free real estate value, i.e. cash in may hand after paying final mortgage and capital gain tax, could be swapped to building a new "dream-house" in Thailand (can own a house, not land).

 

I'm not married, so I could minimize some of the various risks by "investing" in property in Thailand.

 

As having no desire of returning to my homeland – however a back door is possible to open in worst case situations – I was happy to move a major part of my funds into Thailand. Furthermore my family (girlfriend and daughter) is here, and looking at heritage, they'll save some taxation (quite high heritage-tax in my homeland).

 

I would have a (very) small monthly government retirement payout coming ten years after I moved – the first 10-years was early retirement entirely at my own cost, based on my private savings, which I could afford – and I would also have little private retirement pension that would give me some, but not much, monthly payouts for 10 years. So looking 20-years ahead at that time, it seemed Okay. My alternative to stay home would be a property that in 10 years time would need some major expensive renovation; and an ever increasing property tax and heating expenses during winter, which my little retirement pension would not be enough to cover.

 

I have on top some savings in stock market (Nasdaq also, both US and in my homeland), with 2/3 placed in dividend paying stocks, which I live from together with my retirement pension payouts, and 1/3 in a bit more risky gaining stocks (which however so far has done well). It's always a concern about future, like rising costs and inflation, and using the savings instead of dividends will limit the funds lifetime – in my cold native country we would say: "It's like peeing in the pants at winter, to keep warm" – but then, looked 20-years ahead, I must adjust my life-style, and my daughter should be just about old enough to earn for her own living expenses.

Otherwise I shall instead count on that my lovely girlfriend is rich enough to take care of both of us...

 

Having foreign currency exchange rate risk, it's nice not to rent a house – even one still have some expenses on owing a house, and future maintenance to be aware of – furthermore I'm slowly moving little of my stock-savings into SET (Stock Exchange of Thailand), as I'm going to spend the dividends in baht; that move has so far been Okay, based on long-term investments (i.e. expect average 6-7% annually in combined dividend and value gain). The exchange rate for Thai baht vs. my Scandinavian currency has dropped more than 15% in few years, so my steady monthly overseas income has fallen noticeably.

 

 

As I said, each case is individual – I'm for example not married to a Thai, and my homeland tax-situation may be different from yours – on the other hand, sometime one need to take a chance, with the risk of it can go wrong. In my view, I'll rather sit as old in my rocking chair and say, "I tried it", instead of feeling sorry for myself for all that I didn't dare to do, speculating about what life would have been like, if I instead had done it – but I'll not advise others to the same, think wisely first...

[bbabythai]

8 minutes ago, 55Jay said:

A modest, 3 bed 2 bath in a decent moo baan shouldn't break the bank.

 

Have you guys considered buying a town house/shop house, living upstairs and have the clinic at ground level?

 

Sounds like you got a "good" wife, that's great, but don't fall into the instant gratification trap.

 

Trust your gut on this one, and don't get rid of the biggest asset in your portfolio.  Try to make it work for you, save up for a while then help the wife get the business going.  And don't go quitting your job when you are adding liabilities and obligations to your life.  Hustle more and try to work yourself into a better paying position if you can. 

 

If the business doesn't do well, you still have that income producing asset.

 

If the business goes well, you'll still have that income producing asset + a blossoming business.  Then look at parlaying those 2 streams of income into the next goal of buying a house here. 

This is one of the more sensible replies above.

 

The issue is that the way my stocks are going on nasdaq it might overtake the asset back home within 5 yrs.

 

The capital growth on the house has been slow as its in a country town. Im ok with the modest return but its taken 15 yrs. Now the house is getting older by the day. Renting is not without its risks. Also, I dont have a crystal ball but wonder if the property bubble will burst in oz soon. The same can happen with share market in nasdaq but I only hold stocks with companies that have strong financials. The potential for returns are huge. Better than the slow low risk country house market. I think that I will go with my gut feeling which is to sell up and be cashed up. Leave most of it over there and maybe invest it in an 'index fund'.

[jeab1980]

59 minutes ago, watcharacters said:

 

 

So sorry.

 

Did you take my post as a critique?

 

I thought it was a question...

 

No offense intended and  if you took it  as a critique  I'm sorry for that..

 

Second edit;

 

Doesn't the UK allow unhappy citizens to renounce citizenship?

 

I know the USA does.

 

I wish you well.

 

Edit:

 

If you don't qualify for a Thailand passport with citizenship or one from another country,  then without your home country passport you would be a prisoner in this country.

 

 

Just saying...

 

No criticism and please don't take it that way.   Just thinking out loud.

I belive they do allow this nut then that would be cutting my nose off to spite my face. No passport thenno visa so no staying legaly here. I live or die probably in hope that at sometimebin the future the citizenship question here in Thailand will change for the better. Untill then i will take my passport from my birth country.

[55Jay]

2 minutes ago, bbabythai said:

This is one of the more sensible replies above.

 

The issue is that the way my stocks are going on nasdaq it might overtake the asset back home within 5 yrs.

 

The capital growth on the house has been slow as its in a country town. Im ok with the modest return but its taken 15 yrs. Now the house is getting older by the day. Renting is not without its risks. Also, I dont have a crystal ball but wonder if the property bubble will burst in oz soon. The same can happen with share market in nasdaq but I only hold stocks with companies that have strong financials. The potential for returns are huge. Better than the slow low risk country house market. I think that I will go with my gut feeling which is to sell up and be cashed up. Leave most of it over there and maybe invest it in an 'index fund'.

Roger that.  Wasn't sure where you were at in life, but you sound like you have your head on straight, sure you'll do just fine.  Cheers, J.

[bazza73]

4 hours ago, jeab1980 said:

Your first sentance by the way is a little condescending insinuating you/other points of view are correct and anybody who see diffrently is wrong

 

It's only condescending if you choose to take it that way.

As I said, one size doesn't fit all. There's no wrong or right in it, just what is best for individual circumstances.

One of the low-risk ways to make good money is to buy property in your twenties and thirties, and get out of it in your sixties and seventies. That holds true for most parts of the world.

Thailand is unlike most democracies in that property rights for outsiders are severely circumscribed, and the rule of law is tenuous at best, again for outsiders. If you choose to take on that risk, your choice. Personally, I think renting is lower risk here, for a range of reasons which have been debated extensively on TV.

[Mrjlh]

2 hours ago, DLang said:

Yes, if married the condo you own in your own name is half hers in the law and courts. 

Always got someone who thinks of the worse here.  So is the house 50/50...she gets the house...he get the condo...she get the bigger slice she still wins.  But that's only if they get divorced. Not likely if you find the right lady. Not every body has a bad marriage.

[jeab1980]

22 minutes ago, bazza73 said:

It's only condescending if you choose to take it that way.

As I said, one size doesn't fit all. There's no wrong or right in it, just what is best for individual circumstances.

One of the low-risk ways to make good money is to buy property in your twenties and thirties, and get out of it in your sixties and seventies. That holds true for most parts of the world.

Thailand is unlike most democracies in that property rights for outsiders are severely circumscribed, and the rule of law is tenuous at best, again for outsiders. If you choose to take on that risk, your choice. Personally, I think renting is lower risk here, for a range of reasons which have been debated extensively on TV.

"It's been explained ad nauseam on TV. The message just doesn't get across to some".

 

Is the sentance i was talking about.

Renting in my opinion is dead money if you have a stable marriage/relationship. Why easte money renting.  In Ten years time  at say 8500bht pm you have thrown away  a million plus. So how is that a lower risk you could buy or build for less than that and be debt and rent free for the ten years. Most who come to live in Thialand arent looking to make a killing on the housing market just retire and live the good life.

So in ten years whilst your throwing money at your landlord/s making them a bht millionaire. I have saved that mill so am already in profit on my house. But as ive said one size does not fit all.

[natway09]

You did not say how old you are, but I did at the tender age of 44.

Only you can decide where you want to be in 20 years from now.

Do not take  too much notice of some of the soothsayers who have been burnt here,

Many of them did not do any "due diligence" except to dip their wick

[tomwct]

Remember the Golden Rule in Thailand is "Never invest more than you can afford to walk away from in Thailand."

Or better yet, Leave your money at home and bring over living expenses only! You'll be a happy retiree here, 

but 44 is a bit young to be retiring here or anywhere!

[jeab1980]

Just now, tomwct said:

Remember the Golden Rule in Thailand is "Never invest more than you can afford to walk away from in Thailand."

Or better yet, Leave your money at home and bring over living expenses only! You'll be a happy retiree here, 

but 44 is a bit young to be retiring here or anywhere!

Lol the standard TV answer. Posted millions of times

[bazza73]

2 hours ago, jeab1980 said:

"It's been explained ad nauseam on TV. The message just doesn't get across to some".

 

Is the sentance i was talking about.

Renting in my opinion is dead money if you have a stable marriage/relationship.

Sorry, I can't find the word sentance in any English dictionary. And if that's condescending, perhaps you are too sensitive to be posting on TV.

 

"if you have a stable marriage/relationship". That's the key phrase, isn't it? Just taking marriage alone, 50% end in divorce in most countries. So you are actually doing the equivalent of flipping a coin in that respect.

 

Now the "dead money" argument. The condo I rent costs me 100,000 baht a year. I can buy it for 1.5 million baht if I am so inclined. So my landlord is getting a return of 6.7% gross, less outgoings such as body corporate fees and maintenance which I do not pay. If there is a levy to pay for essential repairs, he's stuck with it - not me.

The 1.5 million baht invested with a peer-to-peer lender in Australia gets me a return of 9% net per year, with the money turning over every year. Tax free.

Added to that, our wonderful Centrelink rules in Australia would mean that as a homeowner instead of a renter I would drop 20,000 baht/month out of my part age pension. All for the privilege of sticking my chest out and saying I'm a property "owner" here. Pass.

I think we can agree everyone's circumstances are different. IMHO I would have to be batshit crazy to own property here, on top of all the usual arguments against it.

[bazza73]

1 hour ago, jeab1980 said:

Lol the standard TV answer. Posted millions of times

Oh dear. You are not being condescending, are you?

[bbabythai]

2 hours ago, jeab1980 said:

2 hours ago, tomwct said:

Remember the Golden Rule in Thailand is "Never invest more than you can afford to walk away from in Thailand."

Or better yet, Leave your money at home and bring over living expenses only! You'll be a happy retiree here, 

but 44 is a bit young to be retiring here or anywhere!

Lol the standard TV answer. Posted millions of times

jesus wept. If I read 'never invest more blah blah' again Im going to cut off my right arm.

 

 

[jeab1980]

50 minutes ago, bazza73 said:

Sorry, I can't find the word sentance in any English dictionary. And if that's condescending, perhaps you are too sensitive to be posting on TV.

 

"if you have a stable marriage/relationship". That's the key phrase, isn't it? Just taking marriage alone, 50% end in divorce in most countries. So you are actually doing the equivalent of flipping a coin in that respect.

 

Now the "dead money" argument. The condo I rent costs me 100,000 baht a year. I can buy it for 1.5 million baht if I am so inclined. So my landlord is getting a return of 6.7% gross, less outgoings such as body corporate fees and maintenance which I do not pay. If there is a levy to pay for essential repairs, he's stuck with it - not me.

The 1.5 million baht invested with a peer-to-peer lender in Australia gets me a return of 9% net per year, with the money turning over every year. Tax free.

Added to that, our wonderful Centrelink rules in Australia would mean that as a homeowner instead of a renter I would drop 20,000 baht/month out of my part age pension. All for the privilege of sticking my chest out and saying I'm a property "owner" here. Pass.

I think we can agree everyone's circumstances are different. IMHO I would have to be batshit crazy to own property here, on top of all the usual arguments against it.

Grammer police not welcome. Where do you get the 50 % figure from would be good to read it. Where do you think the maintance costs for the landlord comes from? Your rent. Yes your right we have very diffrent opinions.

[bazza73]

6 minutes ago, bbabythai said:

jesus wept. If I read 'never invest more blah blah' again Im going to cut off my right arm.

 

 

'never invest more blah blah'

[jeab1980]

39 minutes ago, bazza73 said:

Oh dear. You are not being condescending, are you?

Ifvthere is one thing ive learned that i will pass on to yourself.. if you cant answer a question without trying to look or sound good dont answer it. 

[11223344]

2 minutes ago, jeab1980 said:

Where do you think the maintance costs for the landlord comes from?

One of the reasons why properties generate so little return is the fact that every idiot is capable buying a house/condo.

 

You lost it when bazza73 said 6.7% gross

[Peterw42]

8 minutes ago, bbabythai said:

jesus wept. If I read 'never invest more blah blah' again Im going to cut off my right arm.

 

 

Dont cut off more arms than you can afford to loose

[jeab1980]

Just now, 11223344 said:

One of the reasons why properties generate so little return is the fact that every idiot is capable buying a house/condo.

 

You lost it when bazza73 said 6.7% gross

Norice the hounds are about now. Turning this decent thread into a diffrent proposition. So im out no interest in bandying words with them.

OP good luck and do as your head tells you to do.

[Pinot]

13 hours ago, jeab1980 said:

How so. Please explain.

Ummm...

 

No, It's a bright sunny day and I can't go through the hundreds of reason to convince you. 

 

I would suggest you come here and rent for six months before you do anything foolish. 

 

I'll give you one good reason...you'll never own it. The ex-wife usually ends up with it. 

[MyFriend You]

NO!!

[swissie]

8 hours ago, bbabythai said:

This is one of the more sensible replies above.

 

The issue is that the way my stocks are going on nasdaq it might overtake the asset back home within 5 yrs.

 

The capital growth on the house has been slow as its in a country town. Im ok with the modest return but its taken 15 yrs. Now the house is getting older by the day. Renting is not without its risks. Also, I dont have a crystal ball but wonder if the property bubble will burst in oz soon. The same can happen with share market in nasdaq but I only hold stocks with companies that have strong financials. The potential for returns are huge. Better than the slow low risk country house market. I think that I will go with my gut feeling which is to sell up and be cashed up. Leave most of it over there and maybe invest it in an 'index fund'.

- Bull markets are occasionally interrupted by Bear markets.

- Stock market history is rich with examples of High Flying Nasdac shares ending up as toilet paper.

But then, it's an easy game to play. Just sell the shares before major market turns. Everybody knows, major market turns are announced by ringing bells and blaring bugles beforehand.
Cheers.

[jeab1980]

10 hours ago, Pinot said:

Ummm...

 

No, It's a bright sunny day and I can't go through the hundreds of reason to convince you. 

 

I would suggest you come here and rent for six months before you do anything foolish. 

 

I'll give you one good reason...you'll never own it. The ex-wife usually ends up with it. 

Ummm been here for 20 years married 16yrs no ex wife ummmm

[Goldbear]

2 hours ago, jeab1980 said:

Ummm been here for 20 years married 16yrs no ex wife ummmm

I guess you already "burned your bridges" (whatever that means) other than having the house.