Job Discussion Forums

Volodiya · Posted: Tue Oct 18, 2005 9:32 am Post subject:

I'm currently down on Ko Phuket, hunting for property to buy, with retirement in mind. (I'll be seeing you soon, Kent, at the usual place.)

I came to Thailand the first time in 1998. I'm in and out of Thailand just about whenever possible, now- as often as I can think of a good reason to need to come here- see docs, buy teaching materials, take care of banking business (I live in China, less than two hours from Bangkok, and prefer not to bank in China).

Retirement here, is not just about low cost of living, good health care, etc. It's about the way people live and think. I've never been anywhere as easy to be as this place is.... I feel truly happy, and healthy, when I'm here. I expect that to continue when I'm here, full time.

kenkannif · Joined: 07 Apr 2004 Posts: 550

See I'd avoid any tourist area as the prices IMO are over inflated BIG TIME. And look to get something cheap in an up and coming place. Or are certain parts of Phuket cheap?

Also as I left the UK to stay away from English people, Phuket, Samui et al are the last places I'd live in.

Volodiya · Posted: Wed Oct 19, 2005 10:42 am Post subject:

Ken, I'd say you're as right as rain about the cost of housing around the country. I don't know as much about it as you would, but even in Phuket it seemed if you stick to the stuff that is built for middle class Thai people, you're talking about a whole 'nother world, as far as prices go.

The stuff built by foreigners, for foreigners, in Phuket (and Bangkok) is priced just as high as stuff in the west (nice house, or condo, by US standards, with no view of the water, $250,000 USD).

If I had to guess, I bet you could get a small house in most parts of Thailand for under $50,000 USD. What's your impression?

As for where to buy, I've got to be near the water. People in Phuket said the market for land on the seaside was much more favorable to the buyer in Krabi, and Ko Lak, than in Phuket, but possessing the same natural beauty.

tedkarma · Posted: Thu Oct 20, 2005 9:52 am Post subject:

But. . . but . . . Ken - I don't think even a single English person lives in my little town.

If you get out of the tourist trap towns on Phuket - life is much nicer and cheaper. But, yes, much more expensive than some other places.

Nice, but still relatively modest (by Western standards anyway) housing can be found in some quite decent Thai middle-class neighborhoods. And, if you get out in front of the path of development (most of the far north of the island) - the big inflation has not hit there yet.

Me too Vol, I need water nearby (I grew up in a desert).

But, with retirement in mind I also chose a place where I could get good quality medical care if I need it. I've been wandering around a bit as a teacher (since 1989 really) and need/want to set down some roots. I don't want to have to uproot myself and my wife if/when one of us get seriously ill.

I know BKK is only 75 minutes away - but if one of us had a long term illness - flying about all the time may not be realistic.

We've thought a bit about eventually heading up the road to Thai Muang or Klok Kloy - just north of the island - maybe about an hour to Bankok Phuket International Hospital. In that area there are some really SUPER nice beaches with literally no one on them.

I just think it is practical to put medical care in the formula. It's one reason we didn't pick Samui. Vol, say you do get married sometime and your wife is having a serious medical emergency - it would nice to know it is not a three hour drive (Krabi to BP Hosp) to get serious medical care.

But then - I am a conservative careful over-planner too . . .

I am not sure that I will ever buy - at least on Phuket as the same amount of money invested elsewhere will net double what your rent would be for the same house on the island. And your money would be invested somewhere where you have greater legal protection. Not to mention of course, the sometimes problems of the karaoke joint opening up next door, or a powerful politician deciding he wants your place . . .

Suziefr · Joined: 21 Sep 2005 Posts: 9 Location: London

Hi All,

I am not too concerned about my old days at the moment but it is always good to have some knowledge about it.
I heard that you need to have either married to a local or to have a local business partner in order to buy your own property in Thailand? is it true?, if so, are there any other ways to buy a property?

Thank you for letting me know.

Regards, S

kenkannif · Joined: 07 Apr 2004 Posts: 550

tedkarma · Posted: Fri Oct 21, 2005 6:14 am Post subject:

Kennie,

There are a few farangs in my area - more coming though - just no English! Might need to move just a little farther north on the island - but don't want to live too far away from work possibilities when the time comes. Wink

You guys (and gals) keep talking - this is a great thread!

Some of Phuket's property market is ridiculous - they are building $500,000++ houses just down the street from my place - even back home they wouldn't draw that price. And numerous places are in the US$1,000,000+ bracket - I don't know what people are thinking! But the buyers are the mega-wealthy. Yachts, giant vacation homes - Phuket will become a playground for the super wealthy. That's okay with me though as it also means a big improvement in services and infrastructure - and a rising middle class that takes care of the super rich.

kenkannif · Joined: 07 Apr 2004 Posts: 550

^ Yeah I must admit even though I'm a Brit myself....I'd rather bump into a drunken crowd of ANY nationality over Brits (well actually the Scots and Welsh aren't too bad...so mainly the English) we're horrible on holiday.

Yeah my mate's old man just built a lovely house in Samui, but it ain't much cheaper than a house in the UK. And I worry that day will come where it's....bye bye farang, do not pass Go, do not collect $200 etc.

tedkarma · Posted: Fri Oct 21, 2005 8:42 am Post subject:

Exactly.

They always say (whoever they are?) don't invest more than you can afford to lose.

I don't have so much that I can afford to have it go bad. Also, 30 years from now (the 30 year leases - maybe renewable - maybe not?) - I'll be 80+ years old. That ain't the time to be kicked out of your house or to be fighting a bitter legal battle.

Kent F. Kruhoeffer · Joined: 22 Jan 2003 Posts: 2129 Location: 中国

With $2,000 under my pillow and a piggybank full of 1 Baht coins,

I must admit feeling somewhat inadequate entering this thread. Laughing

Volodiya wrote:

Volodiya · Posted: Sun Oct 23, 2005 4:25 am Post subject:

Just to add a little more to the "price" perspective, I've been shopping things that are somewhat high dollar by some people's standards. But, there's lots cheaper stuff available, for those who would be interested, in Thailand.

As an example, in Bangkok, the most popular new condo projects are the ones offering small apartments (32 sq meters) that sell for just about $10,000 USD, according to a recent article in the Bangkok Post. I think the range of properties available, and prices, is just about limitless.

There's something for everyone, in Thailand.
_________________________

Ted's thoughts about owning elsewhere- living on the rentals, in Thailand- is an interesting one. I'm an American, and it's true that my owning in America would eliminate the legal issues, such as they may be, of ownership in Thailand.
_________________________

I'm back in China, at the moment. I seem to need breaks to Thailand to keep up my health, both mental and physical. Maybe any supposed cut in pay, entailed by my working in Thailand, would be offset by the savings in airfares!

Volodiya · Posted: Sun Oct 23, 2005 4:40 am Post subject:

Joking, Kent said that he could just about afford the toilet, now. But, if you're building from the ground up, the toilet is a perfectly reasonable place to start!

And, Kent, thanks for the suggestion of Phuket- rather than Bangkok- for me. I can say without reservation now that you were right to suggest that. Bangkok, for all its pluses in terms of work and variety of leisure activities available does not make me feel good being there, like the island does.

Kent F. Kruhoeffer · Joined: 22 Jan 2003 Posts: 2129 Location: 中国

^ Oooops.

I deleted the comment about having enough

$$$ to put a down payment on the toilet.

Glad you had a chance to explore Phuket !

After you buy, build or steal that big dreamhouse on the beach,

I'll be expecting a personal invitation, limo service & personal playmate ...

all on your tab, of course. Laughing

Volodiya · Posted: Tue Oct 25, 2005 4:14 am Post subject:

If everything works out as well as you've imagined it might, it'll be my pleasure! Very Happy

sojourner · Posted: Sat Nov 26, 2005 7:58 am Post subject:

Volodiya,

In your posting of 23/10, you mentioned, inter alia, that one could purchase a small flat, in Bangkok, for around 10 K USD. I'm really intrigued ! Had you, by any chance, inadvertently left out a nought - or, was the amount quoted merely a deposit or down-payment ? But even if the amount in question is the correct price, would the developers or agents really contemplate selling such a cheap place to a foreigner ?

In any case, the prices for houses and flats in many areas are much cheaper than what one would pay for similar places back in the West. When I retire in about 10 years time, I'm hoping to spend no more than, say, 120 K USD for a flat. When I was in Hua Hin a few months ago, I noticed some flats there for around the equivalent of 40 K USD.

Peter