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Pumpuynarak

Rent or Buy ?

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We bought a townhouse off Soi Nern Plab Wan back in 2002 when we got married. The wife's brother has lived there ever since in the second bedroom and looks after the place. We stay there every holiday and would be in front in terms of paying for hotels against staying at the house. I enjoy the area and these days there is plenty to do over on this side of the highway.

That said I am probably finished with property in Thailand. We have a bit of land in Pattaya and Udon Thani and I think the missus will build her retirement house up in Udon Thani when she moves back home fulltime. I will probably spilt my time between Brisbane, Pattaya and Udon Thani. Never been a fan of renting and hope to still own houses to live in when finished work.

The little shack in Pattaya.

Home.JPG

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The wife had land upcountry, so I built a huge place there.  We had seven rai to work with.  After a few years it was too remote for me, and we decided to move to the coast.

We rented for 16 months, 20KBaht for a 3 bed 4 bath in a gated community, but I always knew we'd buy if we liked it here.  We did, so we bought a house from the previous owners last July in an already completed gated community.  My wife and kids are dual citizens, so no concern about passing on the property to heirs.  We're in a city, so the lots are obviously smaller, but I like not worrying whether the rent will change and being able to make modifications to the place when we feel like it.

HomeRayong_02.jpg

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Well, I rented for the first about 12 or 13  years I was here .....

Then about 12 - 13 -  14 years ago -- I finally bought a big condo here in BKK with relentless pushing from my best friend in life - Jacques - he always told me I was just pissing my money away renting ...  I tried to explain to him it is not like buying a place in the West .. if I wanted to sell it would be nearly impossible ... but, he was relentless ....

Anyway, I gutted the condo and had everything rebuilt .. everything ... it  has a huge outside terrace ( very hard to find in BKK ) ... I am there about a week or so every month ...  I love the place ....

Then about 10 -- 11 years ago I bought a house directly on the Adaman sea .. by this time I was committed to Beach gal ... so I bought it ... and I spend about 75% of my time there

Then about 5 years ago I bought another house with a pool in Hua Hin ... I rent this place out ..... for 35K per month .. it has never been empty ... only for about 3 months after I bought the place ... painting and miscellaneous shit

I am thinking about buying another 2 houses in the Cha Am or Ban Krut area .... as rental properties ..

If I was single I would just rent ... for sure ... the rent never increases on you here - or at least that is my experience .. every place I have rented in BKK the owners never increased the rent on me and have let me do whatever I wanted to do to the places .. easy to make a very nice place for yourself even if you are renting

But,  I have a daughter now and Beach gal so I look at these other places I have bought just as small investments for Beach gal and Ziggy .....

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Welcome back Code... Hope everything is OK with you and yours. All the best for next year. 

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4 hours ago, Aqualung said:

Welcome back Code... Hope everything is OK with you and yours. All the best for next year. 

Thanks a lot Bro .... all good .... same to you -- All the best to you and your family! 

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Good homes I was going to bey about 12 years ago but did not and rent at Jomtiem good been there 8 years  

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On 12/19/2019 at 11:07 AM, forcebwithu said:

To borrow your favorite phrase, BINGO.

I've rented the same house for almost eight years. Other than a shitty neighbor across the soi from me who keeps a kennel of dogs, I've enjoyed my stay here. That is until last month when my next door neighbor decided on a whim she needed to make some additional money, so she's building a restaurant where her garden once was.

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might be worth lookin into as this country is zoned, residential commercial, light retail, etc etc.  they can just turn it into a restaurant.  twat behind us thought he was renting a shack to turn intoa  bike repair centre.. that hasnt worked out too well for him i promise 😉

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Great thread with some really interesting stories, nice homes, and informed opinions.

I have dabbled with the idea of buying a condo in Pattaya, but not being in town frequently enough and not having a Thai partner it doesn't make sense to me at present. I rented a condo at Unixx condo in South Pattaya for a few months, and the shoddiness of some of the design was incredible.

You couldn't open the shower door or else it would hit the sink, uneven tiles, badly fitted bedroom door etc. Not only that but it was essentially a hotel, dozens upon dozens of people checking in and out of air bnbs everyday, parties in the rooms etc. However, for location and cost it was a great holiday rental, certainly wouldn't fancy living there full time.

If Pattaya is your home and you have the money then to me it makes sense to invest in a property.

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On 4/7/2020 at 5:40 AM, dcfc2007 said:

If Pattaya is your home and you have the money then to me it makes sense to invest in a property.

Could not agree more

My reason for buying and not renting any longer is different from others. I did not do the numbers renting Vs buying. My reason for buying was simple . I went to the owner of the unit i was renting and told her I wanted to buy the unit. I had been renting for 5 years and wanted to buy simply because I do not want to ever have to move hate moving with a passion. Said she would get back to me and within the next 24 hours I bought it and for 40K less than I would have been willing to pay I am happy she was happy and I will never be forced to move.

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I have owned 3 houses and a couple of condos in Thailand with no trouble but I took money over when it was B76 to the pound and moved money back when it was B43 to the pound

Same in Cambodia was lucky cause at the time of moving it back to UK I then moved to Cambodia where the US$ was 1.76 to pound and bought some apartments here.

I do sometimes think that as the Dollar is strong against the pound maybe I should sell and move money back to UK .

The moral is you pay your money you take your choice!!!

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On 4/9/2020 at 12:21 AM, Yesitisdakid said:

 

 

 

Could not agree more

My reason for buying and not renting any longer is different from others. I did not do the numbers renting Vs buying. My reason for buying was simple . I went to the owner of the unit i was renting and told her I wanted to buy the unit. I had been renting for 5 years and wanted to buy simply because I do not want to ever have to move hate moving with a passion. Said she would get back to me and within the next 24 hours I bought it and for 40K less than I would have been willing to pay I am happy she was happy and I will never be forced to move.

Fantastic. 

It belongs to you, nobody can kick you out, and generally speaking property tends to appreciate in value so it is a wise investment. Wise move.

 

On 4/9/2020 at 10:21 AM, Peter.storm said:

I have owned 3 houses and a couple of condos in Thailand with no trouble but I took money over when it was B76 to the pound and moved money back when it was B43 to the pound

Same in Cambodia was lucky cause at the time of moving it back to UK I then moved to Cambodia where the US$ was 1.76 to pound and bought some apartments here.

I do sometimes think that as the Dollar is strong against the pound maybe I should sell and move money back to UK .

The moral is you pay your money you take your choice!!!

A lot of guys made a tidy profit when they bought at 50/60/70 to the pound. They will have been laughing all the way to the bank.

I can't see the pound appreciating much against the dollar, not while brexit looms over the uk, and with the Donald in charge. I remember when 1 pound got you 2 dollars.

Christ, imagine how cheap PP would be if those days came back, I don't think I would even give Thailand a second look.

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Posted (edited)
4 hours ago, dcfc2007 said:

A lot of guys made a tidy profit when they bought at 50/60/70 to the pound. They will have been laughing all the way to the bank.

BINGO, we're both happy lol

Edited by Pumpuynarak
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I've no intention of doing so, but I wouldn't like to try selling my property anywhere this year, anything and everything could change.

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I normally stay a hotels months at a time, however now that I have my retirement visa I will be looking to get rent a condo to save some baht.

I still own property in the USA and I prefer to rent long term only as I also travel while in Thailand.

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