Was buying a CONDO IN THAILAND a stupid idea? My opinion 1 year later!
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- čas přidán 18. 05. 2022
- #Thailand #Pattaya #Jomtien
I bought my condo in Thailand a year ago. Im I regretting my decision? Was it a dumb idea? What has it cost me? Has there been issues? What do the experts on Facebook think? I will get into it!
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M O R E A B O U T U S
My name is Brian but everyone calls me Greeny. I retired in January of 2020 after working 30 years in Law Enforcement. I wanted to retire young enough to be able to do some of the things I always dreamed about! I knew I wanted to travel extensively and retire somewhere warm and exotic I sampled a ton of places in the Caribbean, Panama, Colombia, Turkey but set my sights on Thailand. In 2020 I met Fai on a Tinder date and we hit it off immediately. We have been inseparable ever since!
I started making videos as a hobby but now it is more like a passion.
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I've lived in Thailand since 1984, mostly in a house through marriage. If a foreigner wants to retire in Thailand and they are short of money but can meet Immigration's requirements, then renting would be better because they can rent cheaply if they want to.
If you have the money to buy a condominium and you don't mind not being able to sell or rent out the condominium, then buy one and enjoy life living in it.
The downside of owning one is that you might want to move to another part of the country and you might not be able to sell it because of the surplus of condominiums. If you think you're going to move one day, then rent a condominium.
Great comment. All very true.
There’s no such thing as “not being able to sell it” - unless you meant “at the price you want.”
That’s always true as you never control market price.
But there’s no problem with any home that a lower price won’t fix.
If you buy realestate in the right areas you will always be able to sell it.
@tabbycat8511 not being able to sell another right price indeed. A right price would never be at a loss, in my opinion.
I have live here for nearly 20 years now. My first house I was able to sell at a profit, with an ROI of about 10% annually. Not bad, but it was walking distance to the beach. So: LICATION!
My current house I have owned for 12 years, beautiful home, is unsellable unless I sell at a loss.
Meanwhile in EU property prices have more than doubled. So it was a horrible "Investment". I should have bought in EU. Not forgetting the quality of building here. A house is considered old after 10 yrs or less. They are not build to last. They are an expense, not investment.
If you are aware of this, and accept these facts, sure buy.
The real downside is buying anything when married to a Thai means you lose 51 percent with the possibility of losing more if divorce becomes the next step in your life. If you buy a farm, you get whatever storms comes and leaves you with a monsoon of debts. Expect no support unless its self supporting via hidden foreign reserves or assets out of reach and none know about.
My main reason for not buying a condo in my 20+years of travelling to Thailand is the ever changing visa rules, and the real possibility of not being allowed back into the country.
True. I love here full time so it’s nice to not pay rent
Neo, have you ever had any of the issues you are worried about? have any of them come to fruition?
The visa rules have not changed much, very easy place to live
Do not listen to all to all the crap .Nice to have a place you of your own.Never have to move.Good luck
love the outdoor corridors, Quiet,no echoes.
@@alannavarro65 I was on the verge of getting denied entry a couple of occasions, even though i was only spending 3 months per year.
Go forward then
As a former condo owner, I think the dangers are exaggerated. If you buy freehold, having done all the due diligence, there's no risk to your ownership. I ended up not keeping my unit because I unexpectedly needed to get the money back out, which I did and then some. People say condos don't hold their value, but I made 30% after 3 years on a unit that was in a 20-year-old building. Like anywhere, it's a matter of picking a good building in a good location.
Exactly. I couldn’t agree more. Not every condo is going to appreciate the same.
Did you follow the FET guidance to allow your Money out of Thailand?
No, @@russellblake659. The money from the sale was to be used in Thailand.
When did you buy and when did you sell? I'm considering buying a condo in BKK, possibly as an investment (although not ruling out keeping it as a part time place to stay in), and I hear so many people saying it's a bad idea, they depreciate in value due to so many being built, along with "the building won't be maintained" etc
@@justrobin1234 2005 and 2008.
The best point you made was the condo management. I just got here April 28, rented a condo on May 10th. I looked at a lot of condos in Pattaya, one thing I noticed was how poorly some were maintained. The place I'm in now is on the ball on maintenance, clean halls, grounds, elevators, etc. Something to watch for when you are in the market.
That’s the most important thing.
@@GreenyTravels that, and making sure covenants and conditions are adhered to. I was in The Base, being shown a condo, and one of the residents was out in the hall partially making food. 🙄 The elevator also showed a lot of damage, needless to say, I didn't rent there! 🤣
Going through the same process. I'm just going to rent for a year in Pattaya and take my time, study the market, the developers of new projects and location before buying. Good luck to you!
@@Mr.M_I_T watch out for the Chinese developments. I've seen two in Pattaya, one brand new, and the other older one nearby. The older one shows signs of poor management, dirty and worn elevators, dirty hallways, etc., things most people would not notice right off. You don't want to own a condo in a poorly managed development.
Maintenance is very important. Also, ask and compare the cost of maintenance for the year. Building I'm in is well maintained. The Maintenance fee was only 55% of other similar buildings in Pattaya. Just for comparison my West Palm Beach condo is valued at $125,000 or 4,350,000 baht and property taxes were $2691.00 or 93,700 baht. Maintenance for year $5652 or $196,800 baht or about $8343 or 290,421 baht a year.
i'm thai and i used to own a condo. i rent it out but it wasn't worth it. those tenants just ruined my condo and i had to pay for renovations every time each of them moved out. i later sold it and i decide if i own a condo again i will not rent it out.
I’m not gonna rent. If I get tired of it will sell
How much were you renting your condo for?
@@GreenyTravelsno buyers
Good for you Greeny, best advice from this video is don't listen to other people, do what's right for you. Like the man David Goggins says, other peoples opinions are just projections of themselves.
Right and they never give their full story.
you're perception of me, is simply a reflection of you.
Exactly! You will always get a bunch of naysayers telling you no no no.
@Jerry Springer you're wrong.
Hi Greeny, I think you made the right decision 100%. The money you would spent on rent over 10 + years would probably cost you about the same amount as buying. Your condo looks amazing and I think you have invested in a beautiful home for you and Fai. The view from your balcony looks stunning. I dream about waking up to such views every morning. Thanks to you I think I'm sold on Jomtien. I've got a few years to go yet though. Thank you for all of your great content and for sharing such useful information. Have a great weekend. Cheers! Ozzy
Thanks Ozzy. Will be here faster than you know
I had condo for 10 years in Jomtien, Year 1...Carpark needed resurfacing, Year 2....Water tank on roof needed replacing , Year 3 .....Sump pump needed as well found under building, Year 4......Pool sinking and needed replaced , Year 5 .....CCTV installed , Year 6 ......interior and exterior painting. Year 7 ......Roof needs replaced and sealed, Year 8.......Ceiling comes down due to flooding in empty unit above , Year 9 ......Woodworm infestation in furniture , Year 10......Sold it for same price i paid for it. Each year every unit had to pay towards repairs , on top of service charges, insurance, accountancy fees. I have rented ever since Make up your own mind guys.
After that experience I would not buy again either.
fantastic beach life
Were you locked into a contract for 10 years or just gullible.
To be fair, I have a friend who’s had the same experience with her flat in Wimbledon, south west London. That’s just a feature of home owning anywhere that has communal areas I guess.
@@revelationmd oh it happens in west too cancel try. 😂😂
Love your honesty on the subject. When I get there I want a place I can Say "My place". Happy travels and stay safe. God bless You guys👍🏿.
Nice to have YOUR place
Thanks Greeny for the info! Safe travels!
Thank you!!
Loved your review. Covered all the points I wanted to know about. Off to watch more of your vids
Thank you. I appreciate it!!
Great video! I'm going through the same thing at the moment. My uncle and I have decided to rent something first before buying. He's retired and I work six months out of the year. Pattaya will probably be where we end up buying. It's not about the return on investment financially but what the country gives back to you! Again, great video
As long as you are enjoying yourself it’s a good investment
Thanks Greeny for a down to earth real video about Thailand You are living a normal life and thats what I want! Golf, hiking, biking, a nice GF. I am moving to Pattaya in 5-6 months from Los Angeles. I do have a UK friend there in Jomtein, he started in Chang Mai but hated it(burn season, mosquitoes), and loves the coast. He rents for 160 a month 2 blocks from the beach! I subscribed because you seem real and not trying to sell something or being emotional.
Sounds like you got the right plan
Nice analysis. All your hard work finding the right place for you is paying off. Most people really won’t take that time. Btw - you’re looking great.
Thanks Rick. I’ve stalled. Hopefully I can lose about 5 more and hit my goal
Great episode Greeny! Congratulations upon the tremendous numbers of viewers this video received!!! Hello from Chicago.
Thank you. So weird what does well on here and what doesn’t.
Thanks for sharing your perspective on ownership today!!!
Thank you for watching!!
I think the number 1 reason for not buying is being stuck in one place many nice places to live for a few months at a time in Thailand
That’s very true. It’s a tough call when you consider that
Winter in Thailand, Summer in Croatia and Poland. Rent works better for me.
Not a bad plan
Hi John what type of planning or prepping did you have in place to line yourself up with that? I'm from the US and will be looking to retire soon. I hear good things about Croatia and Poland ..thailand needs no introduction, I spent some time in the Philippines loved it there. The US is on a Collision Course to crash and burn, Peace Brotha Jeff
Don’t know why it’s taken this video so long to show up on my feed but glad to have finally seen it, Greeny. You hit the nail on the head with “might not be right for everybody…make your own best decision”. If money can buy you a bit of health/happiness then it’s a good use of your money! Hope you’re still loving the place (and if you’re not the please ignore everything I just said. 😂😂😂) hope you’re doing great.
That’s weird. CZcams. Who can figure it out?
Well done Greeny this vid has further made up my mind to do likewise in a couple years Great Blog
Cmon!!! Join us here
Greeny great knowledgeable video , if your happy then good for you mate . People who leave negative comments are people who are jealous of your lifestyle. There’s no point in being the richest man in the graveyard!!! And let’s face it renting is always throwing money away
Lol. Definitely can’t take it with you.
Hi Greeny, I've owned my own condo in Bangkok from new for the last 13 years. So glad I bought as it gives me security, a comfy home in my style, no hassle from greedy landlords and a sense of community. For me no downsides at all. The owners association are good and I attend the AGM each year. The neighbours, management, maintenance, security and cleaning staff are friendly and helpful.
I've never had to pay the new property tax. If you get yourself a yellow house register book the condo Juristic Person management should help you log it with the amphur as the condo being your main residence and therefore no tax to pay.
I beleive you did the right thing and most who say "RENT" just don't have commitment, vision or cash to secure a nice place for their future life.
I have the yellow book. Maybe that why the cost was so low for the tax
@@GreenyTravels Just having the yellow book isn't enough. Apparently it has to be registered with the local land tax department to avoid the property tax.
what s the name of the condominium and street? are they any available?
@@patriciavandevelde5469 The Silk Phaholyothin 3 Condo. Check HipFlat or DDproperty to see what's for rent/sale. DM me by email if you have any more questions.
Why buy in Thailand as the capital appreciation is very poor? Its no where near the appreciation you get in the west so to me it's a poor investment it's probably more of an ego thing where you can say I own a property in thailand. I plan to rent my property out in the uk which is debt free and rent for half the value in thailand per mth.
Thanks a lot. Really appreciate the honesty and transparency.
Appreciate it.
Looking good Greeny. Thanks for the video. 😎👍
Thank you Mitch. See you later today!!
It's nice to see that you are representing MSU! I'm an alumni. Turning 62 this year, single, house in Michigan is paid off, and now I'm thinking of retirement. Went to Rio last month and loved it, but the prices are high, and I felt I always had to be looking over my shoulder to avoid being mugged. Thailand looks interesting. I need to plan a visit but not sure where to go.
Start in Bangkok and Pattaya. Then his a few islands
Hometown Eaton Rapids. In DC burbs 61 years. We almost went back before my Aunt died.
When you say 'prices are high' in Rio, I have to ask, prices of what?, and where in Rio? A very big place you know. I am guessing you scoped zona sul (Copa, Ipanama......), correct? Prices are high there. I live further west in Recreio. Prices are going up there, but they are half of what they are in zona sul, and usually for much newer properties. In general though, middle class areas in urban Brazil are less than half the cost of living of comparable cities in the USA. The only major disconnects in that scenario are the prices of automobiles (2X what they cost in the USA, and lower quality to boot!) and electronics (1.5X-3X more, depending on the specific item). Rent, food, utilities, health care, public transit, these are 1/2 or less than what they cost in the USA. As far as always almost being mugged, that is probably more perception than reality, with the BIG caveat it depends on exactly where you are. In Rio, zona sul, Barra, zona oeste, the risk of being mugged is WAY lowe than in almost any major city in the USA. I have lived in Brazil for 20+ years, travelled all over it, been to hundreds of different places, and I never have been mugged. I don`t know anybody who has been mugged. Most of the foreign visitors who had any problems like that anywhere in Brazil either (1) Went to places (probably drunk) that a person with common street smarts would never have gone to, or, (2) They were trying to hook up with a prostitute or buy drugs, both only cash scenarios, and is it surprising that they got held up and robbed in a situation where the criminal element knows the person has a large amount of cash on them AND they are unlikely to report the incident to the police?
Brazil is much better investment than Thailand. Unless it's purely to live there
Hey Greeny, I'm sure Fai is happy you bought a place rather than rent. I like renting because I like being able to move easily if I get bored or get to dislike the area.
I might like that too. I will just go travel around. I have too much crap
Great information ... Same age, Same thinking about Thailand, Same Financial thinking .. Lol... Same Tigers team! So I subscribed. Bought a Condo in Cape Coral Florida after I retired. Have now doubled my money+ there since 2019 BUT... Everything in the US has also doubled in price... Inflation is out of control. I still live 6 months in MI and 6 in Florida... but considering Thailand. Went there on business when working and LOVED it. I'm following your channel. Thanks
Thank you. Appreciate it. I definitely would have made more money had I bought in Florida. Probably not as much fun though
Loving the vlog.
Great balanced imfo. Cheers ,subbed. Nice to see the wildlife too.
Thank you. I appreciate it!!
Exactly right Greeny, it’s a personal decision. No right answer as everyone’s circumstances are different.
I brought a condo in Central pattaya where you use to rent, with a view of 10 to 15 years use in retirement. It didn’t cost me an arm and a leg.
I don’t care if I don’t make money on it. If it gives me years of enjoyment, thats all I want.
At the end of the day, you can’t take it with you once you die!
That’s right. Enjoy it while you can!!
Exactly!
To everyone their own
@@GreenyTravels thats up too you dude...okay
I was looking grand a myself
Did they fix the car park flooding
I’m still thinking of buying even knowing that’s a problem or was
@@markwick7898 Yes they have addressed the issue.
Built a levy wall on the front block and upgraded the car park pumps. Plus the Soi is getting a massive drainage pipe upgrade.
The entrance also has provision for a slew gate now.
Been in Thailand 10 years, and been renting worry free. I have a condo 100 yards from the beach, for about half the price of living in a basement suite in Canada. Something breaks, I phone the lovely property manager, and she gets it fixed quickly. I have had two friends that bought condos and later tried to sell, and both had to take a loss to move their properties, and these both occurred before covid. It is apparently even worse now. Personally, I think renting is the only way to go, but it's a personal choice.
Sound opinion
Any ideas where you can shop around to find a nice place near the beach to rent?
@@repent6238 First you have to decide where in Thailand you want to live. Then, my suggestion, is to look up a rental management company, and get them to show you around. Give them the price range you are looking for, and tell them you want as close to the beach as possible. You may not find a place you like with the first person to show you around, but keep trying.
@@murrayallinger2830
So what’s the best way to do this, stay at a hotel and then find a rental management company while I’m there, or do you know a rental management company that I can get in touch with before I get there?
@@repent6238 I'm not sure that there is a "best" way, but this has worked for me. Yes, the first time I did it, I stayed in a hotel in Jomtien, which is the general area where I decided I wanted to live, and then spent a few days looking at condos. I used two methods. One was to find a condo in an area that I liked, and go ask at the office if there were any rentals available. This was really hit and miss, but it did land me a super condo on one occasion. The other way is the way I mentioned, which was to find a rental agency, and work through a rental agent. This has turned out to be great for me, as over the years, that agent has become a good friend, and she kept an eye out for a great condo at a great price. Which is how I got the current unit that I am living in now.
Very nice. Thank you I kinda miss the birds they made the lecture more interesting and sweeter. Nice common sense and I see you’re touching base with what you want. I love that. Love it. Enjoy.
Thank you!!
Brian, it is always up to you. Your situation is your situation.
We own a home, condo, buildings, and farms. We do not regret it.
Do what is best for you.
Stay Safe, and Stay Blessed !
Cheers,
Thanks. My most enjoyable “investment” ever
Hey Greeny,
Definitely everyone has there reasons on whether to purchase or rent…….
I ended up buying a condo in Phuket, Surin Beach 🏖 back in 2018 and I don’t even live in Thailand, I do travel to Phuket though about 3-4 times a year and stay for 1-3 months every time.
Nice. That’s a great spot.
I bought a condo in Pattaya, it was a mistake coz each year I have to pay for a service charge is £500. I left it empty there and birds droppings are in my balcony! I bought it for 1.7 million Baht , I want to sell it coz I hardly go there as I live and work in London. I want to sell it cheap just to get rid of it. It’s called Laguna 2. It’s a lovely place and near food market.
Email me at gulfsunproperties@gmail.com. Maybe I can do a video there.
did you sell it .I am am interesting to buy some small flat in Pattaya .I like Jomtien.Will back to looking for .Now just watch on internet .But internet as you know is not a real. Every thing is shine , nice excellent ...........
Very insightful. Looking at new condos in south Pattaya currently. This was nice to here.
Thank you.
Good for you Greeny, your logic is spot on for you and your living on your terms 👍🏽
Thank you. Only live once. Do it your way.
You done the right thing. Its your money after all. imagine what the rent would be for a condo like that. when things pick up the rent will be high same as anywhere else. Good luck to you id love to have a condo in Thailand!
Thank you!!!
The difference between rent and the annual cost of moving and owning is the return on your investment, probably about 3% +-. Then there are the non monetary values of home and peace of mind. Some fail to realize that not everyone is desperately clinging to every last penny in their lives. As the Dalai Lama said “…the purpose of life is to be happy.”
Love the Lama!!
It's interesting to see that others have the same thoughts. I bought 3 condos in Bangkok with the idea of renting 2 of them. I don't think that's a good idea after Covid. But we'll see what the future brings. But otherwise I love my condo. Your condo is also very nice.
Thank you!!
This was a really good video going to subscribe 🙌🏻
Thank you. I appreciate it!!
Good video and topic. To each their own. I am still about 9 years away from retirement. Plan on retiring at 55. But I believe I will rent because I want to travel. My goal is to travel between Bangkok, Chang Mai, Phuket and Pattaya. Spend a week in each one and move onto the next continuously. My budget will be about 55,000 baht a week, but I might be able to increase it by then. Visited Thailand 4 times while in the military, totally plan retiring there.
That was my plan too. Never thought I would buy. The covid prices were too good though and I wanted to buy my own super soft bed
Hi Greeny. Thanks great advice.
My wife and I are keen on buying a condo but the only problem we can never agree on where. So that’s the only reason to rent, so you can move about and have different experiences. But when it’s your own place, you can customise the condo to your own personal liking. Enjoy
It’s great. Best purchase I have made
@@GreenyTravels
I certainly won’t be worried about dropping a bit of coin on resale value. Some times you get your money worth in different ways
Your info is the most useful I have found yet.
Thank you. I appreciate it. New one on condos coming in a few hours
Looks like a good place good for you. That balcony looks pretty large and comfortable . Nice bro . Grats
Love it. Very comfortable here
Greeny I think you made the right choice, you could always be in my position , I’m also retired and about the same age, I’ve lived in this house for 25 years, the first mistake I made was to shovel my neighbors driveway 25 years ago because I felt that they were old ( they were 60 at the time ) now I’m almost that age now and since I’ve been doing it all these years I can’t get out of it ( and of course I do it for free ), but it’s not the money I’m talking about , I just don’t have the ambition to do two driveways every time it snows, then my other neighbor goes away every summer to visit their children, … so guess who gets to mow two lawns all summer , not to mention I get called once a week to go fix something in their house, anyway I’m getting to the point where I don’t want to do the maintenance on my own house never mind my neighbors,… so moving into a beautiful place where everything is taken care of and no neighbors relying on you to fix the stuff they’re to cheap to pay to have fixed, I’d say was a GREAT decision .
I definitely don’t miss shoveling snow. My kid is staying at my house there doing it.
Which State are you at? Michigan?
Thanks for sharing Brian 👍
Thank you for watching.
Thanks for making this video. It helps me a lot.
No problem
I bought a used fully refurbished condo 10 years ago. I lived in Thailand permanently prior & sold real estate in Bkk & ChiangMai so learnt the ropes. I have a business in Thailand for the last 26 yrs & dont even need to be in Thailand. I have no regrets even though I only go there once a year now & rest on my farm in the west. Have had offers to buy my condo over what I paid. What I like is LINE from the office on everything that happens to our complex & the fees are nothing. Do your homework , never buy off the plan & buy what you can afford & walk away from if you have to........I have no regrets.
Great advice!!!
Isn't it curious how often a slightly older building turns out to be the best buy?
Hi Greeny, I'm new to your channel and what a great video to stumble upon for my first view. I was married to a Thai woman and lived there for 2 years. I learned so much from that mistake (being married the mistake not living there) anyway during that time I rented but when I can return for good I plan to buy a condo. Doing my math and putting a $45K USD limit (more or less) and making a 20 year plan, if I rented the limit would be around 6500 baht per month. Nearly impossible to find a decent place to live for that and over 20 years rents will most likely only increase. So many people say it's a mistake because you could be next to noisy neighbors and if you rent you can just move. Not true, if you moved before your lease ends you lose your deposit which is just lost money. I'm doing my due diligence and research on good condo projects in the Jomtien and Phratamnak areas. I know my money limitations and also know I'm not going to be cooped up in my condo all the time so I really appreciate your videos about buying over renting. Take care and enjoy your condo, it's looks very nice and your view looks lovely. BTW those same type birds harassed me when I lived at The Axis condo. They think they own the place!😂
Great insight. Thank you!!
There could be noise if the condo is under renovation or you neighbors decide to put in a new floor!
@@4kasiavlogs This is true. I lived at the Pattaya Hill Resort and a few times I was subjected to construction noise for days on end.
I think you have made a good decision , when it comes making a decision remember there are no perfect decisions you have to do the research and go with your gut , you can’t sit on the fence forever, well done Mate
Exactly. 2.5 years into it and I’m still happy
Love your video thank you. I have 7 years left before retirement but I am looking forward to joining you.
Hopefully will fly by
Had to leave a like for the bird!! haha absolutely hilarious!
Lol. Yea. Crazy birds
Im with you!, I bought big condo in Central Pattaya 10 years ago, and never regret. Also thinking to buy another soon, probably in Jomtien,.
Nice. Rent one out?
@@GreenyTravels that is the goal, and pay with it my daily expenses.
i watching and looking for exactly in Jomtien .....or so close to
Congrats. Happy for you both... 🙏
Thank you!!
Hi Greeny,nice to see you back,always liked your videos. Your girlfriend was aways funny and fun towatch....Glad to go along with you. two,thanks!!!
Thank you!! Appreciate it!!
Nice, I considered myself buying a condo in Thailand. I visited Bangkok in 2019 and loved it. Stayed near terminal 21 mall. I met a lot of interesting Koreans down there
Awesome. I’ve been to that little Korean town over there a few times. Great food!
I saw your original episode last year when you bought and one reason you gave to justify resonates with me, if you sell for even the same as you bought or even less its still a far smaller cost than 12to 15k a month to rent a nice place, all markets and crypto down except gold and that doesnt factor in charges and expenses of trust or investment or charges for managment of funds. you have done the right thing even if you sell in a year or two or three you have effectivley lived rent free for that entire period of time but that can only be done if you have planned to do so before hand.
Yep. Real estate will always be worth something
@@GreenyTravels 100%. I'm currently renovating my first solo project after my divorce. Plan to have at least one or two more to add to this current one and retire at 50/55and live on the income as my pension is gone along with my first two houses.
Never rent free as there are mounting fees and charges annually
Loved the way you ended the video with the bird, that was funny.
Lol. Thanks. They got loud again.
Well done man. Looks very nice👊😎
Beautiful view
Thailand 🇹🇭 is great
Enjoy life, we never know what happens tomorrow 😉
We are building a house our self right now.
Thank you!!!
I like your real estate & financial blogs they’re the only ones I watch but with all due respect that last comment you read out from FB was bs anyway life’s to short best stay health & live your life 🤘
Thanks for watching!!
It is attractive to me to lock in current costs rather than risk year over year rent increases I can’t anticipate. We also have a dog and rental options are few. But I think in the current market situation it may be best to stay liquid.
Definitely great to own your own place with pets.
I think it’s right time for good exchange rate too , I bought since 40 baht per dollar so it’s considered profit even I only be there 4 m per yr but last time I was there 8 m on the beach front
Rent increases should be counted as a risk in one's planning. I'm glad I own the place I live in (not in Thailand) because the rent increases in my city since 2020 have been steep, double digit numbers each year.
That was a GOOD MOVE for you Greeny! Good Job...Enjoy Life!
Thank you!! Love the Sammy inspired name!!
Buying a Bangkok condo was the best decision I made. The trick is to choose a 90s building with a good juristic reputation. I chose in ekkamai, bought for a very good price back in 2014. Another tip, buy during a coup.
EKKAMAI great area. Good investment
Buy during a coup! This is the best comment of all time on YT!
What happens to prices during a coup? They drop?
LOL. BEST COMMENT EVER
Generally in the West, buying is better than renting, rent is seen as dead money and property values tend to increase over time making it a good investment. The thing I have never liked about condo's is you only have control over your condo, and generally just the interior space. Less to worry about in the West but in Asia where maintenance is generally not at the same standard, can be a problem. Up to you as they say.
I pay a little more but the the maintenance is great in this complex. I’ve seen many go downhill though. Something to ponder
Property taxes are high in the west. It does cost more to buy in the West than to rent.
Good video and agree on your points. Like everything people need to take their individual situation in account. More than hearing some generic advice from others.
True. People love offering generic advice though. Thank you!!!
You sound very nice and trustful guy.Thank you for your video, keep going.
I appreciate it. Thank you!!
Lived 5 years Pattaya. Had a belgian friend, trying to sell his first condo... Sold it with 10 or 20% loss... Because not finding someone to buy!! Pattaya is an illusion!! Few get lucky, most loose their lives!!! 5years , so i got my own experiences as a35year young guy... Conclusion after almost buying cheap....... Why buy if i rent so cheap?! Investment wise it's a huge risk, if you know Thai law!! And know Thai helps Thai!! Play the game right, and keep it a great moment in life!! Don't make any decisions for longtime... Longtime is in every way a huge gamble. So much as going to Las Vegas and gamble it, can better buy stocks with it!! Much more gains, and much more secure
Maybe your friend didn’t do his due diligence? Maybe he took a covid loss. I’ve been in real estate a long time. Many things to consider
@@GreenyTravels it was 2011 - 2015. You have done a good buy. That's 50% of the work.... Now wait and see when the sell sets in...... I've HEARED so many times,..my gf is different,... I will make my bar work... Etc... In the end. It's Thailand!! Russia isn't Sovjet anymore, BUT the Sovjet spirit is still alive!! You see were i want to go to? You will never make money of a Thai's back in Thailand!!!! Never ever never!! If you live several years there, and get to sell it with 10% loss, then you had a great deal!!! But i decided, and never regretted it, to simply rent!! Because, i liked Thailand outside my place, my studio was just for sleep, tv, and internet. Nothing else!!!! Thailand will never be your home!! And that's a big dissapointment,... Sad but true. Enjoy it, don't marry it!!!! Just buy a scooter, after 2 years it's a no loss or no win.
I live in Pattaya and i know hundreds of people and i can honestly say i have never known anyone to lose their life.I have been there since 2005.Everyone has a different situation.If you live in a Thai full time and earn your income there through work or business then it makes sense to own your own property.However if your a tourist travelling in and out or your not interested in staying in the same spot then renting is probably for you.
Pattaya has a lot of expats that have retired from other countries and recieve income from superanuation or other investments.They would benifit from owning their own place over time if they buy in the right area.
Bangkok realestate is a good investment if you buy in the right areas.
Thanks for the info, well done.
Thanks Michael.
@@GreenyTravels I always wanted to see the crib and got to see more. I think it was a good idea for you to buy based on your situation, everyone is different.
Another great video Greeny !
Thanks Kevin!!
You made a plan, executed it and are living the good life - kudos to you. I’m planning to check out Pattaya too for investment, also in my 50s too.
You will love it here
We bought a brand new 3 bed, 2 bath freehold condo in 2005 in Malacca, Malaysia for GBP21,000. My wife is a Malaysian citizen so the title is in her name only. We pay GBP70 monthly for insurance, maintenance, 24hr security and water. It makes financial sense to rent if one intends to stay short term in a country but the buying option should be considered if staying long term. The condo was valued at GBP62,000 in 2019 prior to the covid pandemic.
You should do well with this one!!
!5
Your comment is useless to anyone not living in Malaysia, cause GPB is meaningless.
This comment is very useful! For anyone still living in 2005!
Very good move buying your Condo, the neisayers are jealous. Good onya mate.
Thank you!! It’s been nice!
"👏🎬 Thank you so much for producing this fantastic video about retiring in Thailand! Your attention to detail and passion for the subject shine through. Great job! 🏝🌇"
Thank you!! I appreciate it!!
Good video. I am considering buying a condo also. Did you do a purchase or the 99 year lease thing and can you explain the two different purchase plans?
I bought. It’s all mine. Willed to my son
Hey Greeny 👋🏼😁. Just curious, so of that 7,000/mo is that about 50%maint/50%utilities? How many sqm in your place? Just curious about maintenance fees. Rarely do you see anyone mention them, but it is important to consider when budgeting.
120 square meters.
Maintenance fees are included in that 7500. 16200 baht every 3 months
@@GreenyTravels thanks for the info. Seems very reasonable. 45thb/sqm maintenance fee. Sounds pretty good.
@@jonh.7661 it’s a little on the high side but it was planned that way to keep it above normal standards
You’re living the life I intend to live out there! I’m 45 now and mortgage free in 2 years 🙏🏻 So I plan to rent out my home and cash in my private pension to get an income.
Yes rent or buy is a personal opinion. I can see why people rent places out as they cannot afford to buy one out, or like to move around the country and rent out places, months on end.
Yes. That’s awesome. Nice passive income on top of a pension is the way to go.
How much taxes and penalties will you have to pay on cashing out your pension early?
@@NickReels I’m not too sure, but most my money will be from renting my home out, so the pension will just be a boost.
@@keithy507 Mine started upon retirement
@@GreenyTravels happy days! I can’t get mine until I’m 56 now apparently, but always something to look forward to (if I make it that far) 👀 lol
I’ll be going out to Thailand for 2 months every year, leading up to it.
I’d retire now and live out there if I could lol
Bought 2 condos and a house in bangkok 8 years back. Prices sure did appreciate, and sitting on comfortable paper gain profit now.
I love hearing that!!
Very honest feedback, ability to deal with this feedback.. excellent 😅
Thank you!!
My 2 cents , it’s a mistake if you think it’s an easily traded asset like in your home country because they are hard to resell.
However if you are planning to keep it until you die and/or plan on leaving it to a Thai loved one then Maybe buying is for you.
Buy for the right price you can sell. Hopefully I bought at the right price
Condos in Thailand fall to pieces rapidly. Once people stop paying their fees the pools etc stop getting cleaned and security etc flee.
Life is hard. If you make your condo stand out from the others, not so hard! Boom!
@@howdo1govern995 If you buy in crap development with bad co-owners and poor developer and management then maybe. Our Bangkok condo building has no delinquency over the last 13 years and there are measures in place to recover fees if there is a case of non payment. Our building is well maintained and I love our well kept rooftop pool at sunset :)
@@EddieManning loads of ex beautiful villages and condos now run down. New complexes going up all the time. You maybe struck lucky. Workmanship in Thailand is very poor.
Each to their own Greeny. Sounds like your happy mate. And that's what life is all about. 👍🏖🏝⛱✈
Exactly!!
My first time on your channel. Good choice of a shirt to wear. My wife and I bought a townhome in Bangkok. We looked at a LOT of homes and then we chose one we were willing to make into a nice place to live. That was in 2010 and we still live in the home and it is fine with no major problems. I lived in a friends new townhome in the US, Maryland, and it was a similar experience. I owned a home in Ypsilanti, Michigan and my home here in Thailand has also been a similar experience.
Ypsi!!
Very interesting. Glad it's all worked out for you.
So far so go Ed. Since I’m gonna live here for a while May as no pay rent.
Greeny. Love yer content and Thailand. So you live in Jomptian? Next door to pattaya? My wife is from Bangsaphan. I like Hua Hin. Almost bought a house last march for under 3milB. I would get condo and may but prefer more of a ponderosa. Maybe in Sam Roi Yat. Props to you for living the dream. Im working on it God willing…. Krap🙏
Thank you. I’m in Na Jomtien. One more south of Jomtien
@@GreenyTravels in California off to work soon but my heart is in Thailand 🇹🇭
I bought an older condo in a huge old 55m2 beachside development with the lowest maintenance fees in Thailand (if the real estate websites are correct) for around 1.5 million baht and spent another 10000 baht on replacing the kitchen, painting, and a few other minor things... I bought in January within a couple of weeks of it being on the market - it's on Jomtien 2nd rd but still 4-500m from the beach and has an open view over trees, and is north facing so doesn't get strong sun..... I don't live in Thailand currently and likely won't for a good few years but I do try and visit yearly... Is it a good investment? Probably not but there is a chance with the port expansion, fast rail, utapao upgrade, etc... I think I bought at a reasonable price point in the market but yeah the whole area has a huge amount of empty and unsold condos.... Time will tell... For me I wanted a place to store stuff, make comfortable and my own, and make travel easier so it's early days.... I couldn't warrant spending more, and visas for 3 months visit aren't likely to be an issue any time soon.... Longer term are getting easier if you have the cash...... I'd say if it's where you feel healthy and relatively comfortable its a good thing to have a stable home....
Lot of upside here. I’m waiting for these new malls to start going up.
@@GreenyTravels more development - I didn't hear about the new Malls? Where are they expected? Na Jomtien looks nice - plenty of good looking if not a little hiso restaurants... I chose central beach Jomtien because I'd read that late night baht buses don't always run as far as Na Jomtien (and the nearby Copacabana is particularly expensive which may help nearby prices) - the only thing missing there is a good/cheap supermarket (Tesco/Macro/bigc etc. really require personal transport or bolt, etc. - there are a few good markets around for fresh foods and some good small street food vendors to keep costs down of course..
I don't know where to begin with sad story. People should be extremely cautious when visiting or buying properties in Thailand?especially US citizens. There's a GROUP of men operating from Thailand and they place faked job ads to recruit unsuspecting victims,they pay for their visas and accommodation. Once they touch down to their destination,they immediately take them out of town to "fight Americans" and we managed to rescue one of the boy and he's coming back home🇿🇦
I wish brave journalists to investigate this matter.
What condo is this?
@@Curtis-xk4dd Jomtien Beach Condominium (Rimhad)
Hey thanks for the informative video, great views, and food for thought. I kept waiting though for you to say what you paid for the condo.
4 million baht. Sorry
Great video I’m thinking of moving there, where did you buy?
Neat Bang Saray
Good Advice Brian:
takeaways
- Buy Condo. Diversify..
- Don’t sell stocks.. (am doing the same with my portfolio) . Hanging tight.
Property Taxes on my house in TX ? $16K + a year . $15 bucks not bad at all
Killer deal on the tax
Been watching the condo Market for a long time, places sit for 5-10 years and can't sell, to me unless leaving it to someone for them to sell in 20+ years when demand might have caught up to supply, its a no go.
Some sit. If the price is right everything sells
@@GreenyTravels
True Greeny, the usual autocorrect of prices is what the market doesent do. You can see this is on the fazwaz site where the completion date and the outstanding sinking fund is part of the info, tons of places sitting unsold and they not only don't drop the prices they add 5% every year like its an appreciating asset 🙃
Love the shirt!
Thank you!!
You live in sunrise condos in Na Jomtien that looks like a nice place. Prices for condos are very fair. Does it include parking?
There some parking here. The bad thing is the lot is leased. If the owner sells that will be bad
Where did u buy your ceiling fans?
Wow $15 taxes. When you said it cost almost as much as the unit, I thought you were talking about the whole condo. 555, what is your insurance cost Greeny ? A condo can be a good hedge against rents going up.
Insurance is cheap too. I don’t remember.
Enjoyed vid. Down to earth.
Thank you.
Subbed. love this expat thailand content
Thank you. I appreciate it!!
I have bought and sold condos maybe I got lucky... I bought Blue Residence when being built for 999,000 baht and sold for 1.6m baht when finished to a Thai couple. I bought the base when being built for 2.2m baht sold six months after changing the condo to my name and I just rented it and sold it for 3.2m baht to Chinese person... I still enjoy ownership there.
I like hearing these successes stories. All about buying at the right price
Built a house. I married an Isaan woman (also named Fai) we bought land and built a house in her village and bought farm land and built a little house out there. Bought some vehicles and motorbikes. Getting ready for that retirement!
I bet. Love this place!!
I enjoyed the video, the information was good.. thank you
Thank you 🙏
Real honest information. Thank you
You are welcome!!
My Thai friend at the beginning of 2019 wanted to buy a condo in Bangkok that was not built yet. She said it is only $112,000 rather than the $160,000 for a condo is already built. She was going to take out the loan with 0% down payment at 6% interest rate. I told her this is a terrible idea, because I have seen so many condo's that were never finished being built, because they ran out of investors like her.
Scary to put out money for future transfer.
Why don’t the developer borrow the money from a bank and finish the building? I suspect they want to take your money and run. Call me cynical but I don’t trust any financial company…..as far as I’m concerned they’re all crooks.
Oh yes, I forgot to add the contracts are written by hot-shot lawyers, so that the company can go bust , while hiding behind corporate law …..and you have no way to get your money back. Be warned, scammers can also wear suits and have a fountain at the front.
@@GreenyTravels
Yeah risky & a bit scary but in same times it saving amounts of moneys to compare condo/apartment already build.
Btw, always BUY A CONDO/APARTMENT FROM BIG & TRUSFUL COMPANY.
1) If you not sure how big & popular the company, ask others locals & any resourse you know.
2) Ask how many PROJECT RESIDENTS this company did in the past. Check-out if all their projects done by this company is finish? Is full of ppl live there?
Or they're small & new company, just running 1,2 projects building.
Go to their old project to see by your eyes, if all their project in the past sales well & full of people living.
Its not alway right, big company can fail & falling too but the risky is less!!
If the condo/apartment build ALREADY. You want to buy it but not sure if its good, living confortable. Find the rents managers/sales around this areas. Rent a condos for short term (3month) right in the building you want buy to experience first
Dont think its waste money, you can spend hundred thoundsand dollars to buy it & but worried pay for fews month to experience if its fit for you, good for you. It worthy to spend moneys to rent in short term to help your knowedges.
Another good thing is the variety of food and cuisines you can enjoy eating. The grocery or fresh market for food, vegetables and fruits and way cheaper than in the United States. Restaurants are more affordable, laundry and other expenses are within your range and it won't put you in the poor house. Beaches, girls, massages, shopping is great so it's better overall for you mentally and healthy wise. You can always eat healthy. Thai food is also delicious 😋 I love Pad Thai and their Green papaya salad, beef salad and other dishes that makes me drool just thinking about them. Just healthy food. 😌
The food is a main reason I picked Thailand over Latin type countries
@@GreenyTravels - cost of living and expenses is a plus and the affordable massages. I had a half hour back neck massage in Toronto and it cost me about $59 dollars. I could have had a 3 hour massage in Thailand for the same price.
Great move congratulations I need to take your advice and thanks for the video.
Appreciate it