Renting versus buying

[jackcorbett 2]

In 29 days I will be once again visiting Pattaya, this time for two months, but after that there is better than a 50-50 chance I will be making yet another trip, this time permanently around August.

 

In general apartments provide the maximum flexibility at the lowest risk. This is what I have now in the U.S. A great place with around 1100 square feet and I can move whenever I like. Meanwhile there are no headaches brought on by the stove, furnace, hot water heater, etc going out. Management takes care of it and I have no unexpected expenses.

 

However, I am concerned about the American dollar going down which would increase my cost whether I rent in Pattya or buy later. Inflation is also a concern. Also, isn't it true that the population of Pattaya has about doubled in the past six or seven years? If it doubles again, I would think there is a very good chance that both rents and condo purchase prices will skyrocker, particularly along the beach.

 

But I have also been advised that buying a condo in Thailand is an extremely risky proposition. It can be risky in the U.S. but in Thailand the foreigner is not accorded equal rights under Thai law as Thai citizens. As just one example of this, my understanding is that if a farang's car is rear ended by a vehicle driven by a Thai, even though the Thai is clearly at fault, it is the farang who will end up paying. Those offering the advice urge renting and never buying in Thailand while keeping all of one's investments in one's home country or at least the Western World and never put at risk in Thailand whether for a home or business.

 

Nevertheless, my own personal feelings are that the cost of housing will continue to climb in Pattaya which is a very sound argument for buying over renting. What are everyone's ideas on the subject, and if you feel it is best to rent, what would you suggest for relatively long term--for at least a year in nice surroundings?

[rb 20]

obviously your age and health conditions have a large part in the equation. getting old and sick all alone in any foriegn country is not a good propasition.

that said, the other part of owning is your inablity to move, you may tier of pty or wherever after a few years of continual bliss or worst yet find a tg that you fall in love with and they aren't going to want to stay in paty, as on bg told me "if we live together it has to be atleast 6hrs from pat, no going to the store and ending up st!!!"

anyway, if you can find a place resonably cheap to buy what the hell you may have to right it off latter, so long as you don't have to sell the farm to do it.

really should try living a year or two(rent and a few diffrent areas to see what you like) to see what you really want, buying really locks you in.

me 4months "vacation" would be enough.

living 24/7 would take away for me.

best of luck

rb

[Rex7777 0]

I've also been thinking of buying. Obviously, if you're from the USA you must know the prices of beach property. However you look at it, Thailand propeties are cheap. I can show you a one bedroom condo in San Diego that costs almost $1 million.

 

The dollar is falling and will prbably continue to do so. Still, what if the dollar tanks? What will that do the world economy? I'm not smart enough to have all the answers. I just hope those people running the world can keep it all together.

 

So, I'm looking for something cheap. Under 3 million baht. I'll buy a shell if I have to.

 

I also wonder about the maintenance, etc. What will the place be like in five or ten years?

 

Om the other hand, with 3 million baht I can realize about 13,000 baht, after taxes, on my principle. Couldn't I rent a place for that? I think so.

 

So, what's the answer?

 

Rex

[BigDUSA 71]

I would live in Pattaya for at least a year before I bought anything.IMHO living in a town is a lot different then being on vacation.

 

Major water shortage in Pattaya/Jomtiem is here NOW and the Thai's have only just begun thinking about how to deal with this.

 

Traffic is getting worse and will soon be a nightmare.

 

Last but not least Thailand is looking to get rid of their image of being the "whorehouse of the world" and will redirect there tourism goals toward the Asian family market.

 

Damn after reading this, I think I'm gonna stick my head in the oven.

 

13 days till wheels UP.

[Eneukman 1]

Jack, as some people will be fed up hearing I'm retiring to Pattaya in the next few months. My intention is to rent, at least to begin with. You, yourself, have given a number of reasons for renting. On top of that there are the various obstacles that are placed in your way if you, as a foreigner, want to buy your own place. OK, they're not insurmountable but still a pain to deal with.

 

I've still to decide where I'm going to live and won't make up my mind one way or another until I've viewed a few properties but I am very interested in View Talay. They're close to the beach at Jomtien, on the main baht bus route into Pattaya and have a large pool (an essential for me).

 

Another reason I'm going to rent is that after 2 or 3 years or so, I may decide to move up country to live - particularly if I find someone I want to live with on a permanent basis.

 

It is also my intention to try and learn to speak the language once I arrive, which should make moving away from a city like Pattaya easier.

 

Good luck with whatever you do.

 

Alan

[jackcorbett 2]

That is an interesting thought. First, that a Thai girl now living in Pattaya would want to move far away, and now you mention that you would yourself provided you met the right TG.

 

This reminds me of the dissimilar thoughts of two men I became well acquainted with who live in Pattaya. One is a restaurant owner. He is British with a Thai wife. If it were not for the restaurant he would prefer moving out to quieter places such as out in the islands. (I am not sure what islands he was refering to except they were not terrifly far from Pattaya). The second man is Australian. He enjoys the night life of Pattaya with the many opportunities with the ladies. The islands would not suit him--at least not yet. He would become bored.

 

As for myself, I believe I would find learning the Thai language to be very difficult. I can see the points made that if one were to meet a great gal worth staying with and provided she felt the same way that there are other spots well worth living in besides Pattaya. One could for instance make Thailand a jumping off point for vacationing to other interesting places such as Cambodia, Vietnam, China, and so on. Airfare for one thing would be a great deal cheaper than from the U.S.

 

And of course if one bought a condo in Pattaya it might be hard to unload it quickly without financial loss if one should change his mind about what in fact constituted Paradise.

[uncle russell 0]

LOOK SOUTH TOWARD JOMTEIN BEACH. ALOT IS HAPPENING DOWN HERE AND REAL ESTATE IS A LOT CHEAPER. I LIVE AT SIAM GARDENS. IT'S NOT LIVING IN LUXORY BUT IT IS NOT BAD. MOST THINGS ARE CLOSE BY, BEACH, BARS, TG'S, CAFES AND ETC. IT'S QUEIT AWAY FROM THE HUSTLE AND BUSTLE OF WALKING STREET AND CHEAPER THAN PATTAYA. YOU MIGHT TAKE SOME TIME WHEN YOU GET HERE AND EXPLORE JOMTEIN AND RAYONG. THE MEDICAL CARE IN THAILAND IS JUST FANTASTIC AND RESONABLY PRICED. BEATS THE F-----G U. S. A. WHEN I WAS IN THE STATES MY HEALTH INSURANCE COST ME $900.00 AMONTH. HERE I DON'T NEED HEALTH INSURANCE I CAN AFFORD TO PAY OUT OF POCKET. WELL AT LEAST FOR NOW. WHAT I SAVE IN HEALTH INSURANCE PAYS MY MONTHLY EXPENSES HERE.

[kit 0]

I would have to agree. Jomtien is the place. It's clean and friendly. On motorbike, it's just a hop 3kms to pattaya. No big deal....

[jackcorbett 2]

Great points about the medical care. I was paying $248 a month for a crappy U.S. policy with a $5000 deductible. It suddenly went up--again.....to $300 a month. I found out by looking at my bank statement. Last year I incurred including premiums $4500 medical expenses. While flying out of Bangkok back to the U.S. I ran into a man 68 years old from Phoenix who suffered complications from his prostate problems while in Thailand. He spent four days in the hospital and raved about the care he got which was much lower priced than in the U.S. A good friend of mine got sick with the flu in Pattaya and walked to the hospital. He went through a whole series of tests for under $48.00. Going to the emergency room in a U.S. hospital would have cost him $1000

 

One of the main problems with the U.S. Health Care System is the lawyers have utterly ruined it as they have practically everything else here. I have recently read that a doctor in the state of Illinois where I am from must pay between $60,000 and $150,000 a year in malpractice insurance. Because of such huge costs many hospitals have gone out of business and there is getting to be fewer qualified men and women being attracted to the medical profession.

 

For this reason alone I would want to move to Pattaya. Not only will I be saving huge amounts of money over the next few years, I would also be depriving undeserving lawyers from making a big profit from indirectly extorting money from me. And I would be withdrawing my support from all these people suing health care providers for far more money than their lives are worth in terms of what they can legitimately make.

 

Please tell me more about the Jomtien area. I did head down there to look into a condo. The complex was very appealing. I do want to mention that I'm into bicycling, running, walking and other forms of exercise. I am also wondering how the sailing is in the Jomtien area. I remember being in Ambergis Key in Belize and taking lessons in a small hobie cat sailboat one man could handle. I loved it. Then my nephew caught the bug. These were small double hulled vessels perhaps only 13 feet long. but large enough for possibly three people.

[uncle russell 0]

JOMTEIN BEACH IS PARADISE. IF YOU LIKE LAYED BACK GAY PEOPLE IF YOU DON'T IT'S STILL PARADISE. WE ALL GET ALONG DOWN HERE. NO FIGHTS, NO SHOOTINGS, NO MUGGINGS. TRANQUIL MAN TRANQUIL

[Dennism 3]

Hey Unk,

 

Why ya Yelling!

 

As a hint, Caps are considered shouting.

[russell 0]

thanx, didn't know. next time i'll be quieter.

[laffnliv 78]

Rent before buying. May save you a bundle if you make an informed purchase later rather than a hurried one. Location! Access to convenient shopping, medical support, and public transportation. I do not, and will not, own a car or a motorbike here. The drivers are insane! If you choose wisely, you will not need the hassle with insurance, driver's license, or the rest of the bureaucratic nonsense including paying the cop to let you go after stopping you only because you are a farang or he needs cigarette money.

Some guys talk about "investing" in property. I didn't do that. I bought a small condo in a great location and a low price, comparatively. If the economy goes bad, or the government does the same, I will not be hurt if I have to leave it all.

Sorry to sound pessimistic. I really love it here. I think one reason I get along so well is that I avoid contact with the government as much as possible. And if things go well and I decide to sell, the end result is that I get my money back, and maybe a little more. Which means I will have lived here for free.

Remember the Buddhist way...take the middle path. No excesses. Just sanuk!

Roy

[Bazle 1,428]

I bought a small condo in a great location and a low price, comparatively.

Roy

 

Out of interest, where is that? What's the noises situation like - both from the outside world and from neighbours? Do you live there full time? If not, do you rent out when you are not there?

 

Thanks.

 

Bazle

[laffnliv 78]

Bazle, no I don't rent the condo out when I am not here. I go back to the States three times each year for only one month each time. And my lady lives in it when I am gone.

No problem at all with neighbors. Some noise from construction nearby from the Northshore Condominium contruction on Soi 5. It will go away soon. I am on Soi 4.

This is an older building. Only 69 apartments. Quite friendly. The building needs some TLC. It's managed by Thais. Need I say more? We will have the building painted this year. Baht buses at both ends of the soi. Walk to Big C and PIC Hospital just up the soi.

Remember when you shop around that there is no Utopia. Where ever you choose you will be making compromises. The trick is to find a balance between what you want and what you don't want. To me, location is everything!

If I can confuse you further, please let me know!

Roy

[jackcorbett 2]

Laffnliv---------YOu are living right where I will be once again in 24 days. Will be staying at Skytop for a long while so I can scout the area for a more permanent spot late in the summer. I think your location is first rate. That's the reason I'm heading back to the same spot after staying there for a month in October and November. Apparently you are close to the beach and not far from the center of action in Central Pattaya with plenty of your own around Soi 2. Big C is a spot I sent to pretty often if for a paperback, a magazine, CD's, getting mobil telephone service, etc.

 

Apparently you love it there but at the same time I note some apprehension on your part that it can all be yanked from beneath you pretty fast for a variety of reasons including your being a farang but that you have wisely not overextended yourself so you cannot get hurt financially.

 

No doubt I walked past your place many times as I often walked from 2nd Road to the Sois North of Soi 6 down to Beach Road, then down to Central Pattaya and back. Sometimes I was looking for spots to consider for a long stay and looked over a couple but I must have missed your place. I am toying with looking over Jomtien but I have already found a comfort zone in your area. EVer go to Greg's restaurant on 2nd Road for breakfast or dinner? I would often sit there or in his wife's place, The Sunset Cafe and envision how this area is going to look in 5 to 10 years. I expect it will be very much one of the best places to be and priced accordingly.

 

Like to know more about your building.

[laffnliv 78]

How will the area look in 5 or 10 years? That's a pretty scary thought. As one guy I passed on the soi said one day, "It's beginning to look like Miami Beach!"

Lots of talk but little action by the local authorities on the problems of traffic and water. On the horizon also are the potential political problems caused by what seems to now be rule by a one-party system. Add to that the potential upheaval when the King passes away. That last one might be a doozy!

So, yes, I am enjoying Thailand in general, and Pattaya in particular. But I am not about to commit all my resources here. It would be wonderful if things stayed pretty much the way they are. But they won't. And only time will tell how things will work out. I am hoping I can stay here forever,.....but.....?

I will PM you my local phone number. If you would like to talk some more, and /or have a look around, just give me a call.

Roy

[Emil 0]

Roy,

 

I noticed that Susie's has undergone another change. This time Karaoke for Japanese only. By the end of this year they should be finished with those 3 project near your place, but I wonder when they will build something on that land next to Mike's Beach.

[laffnliv 78]

Good question, Emil, about the land next to Mike Beach Resort and across the soi from Mike Orchid Resort. So far no one seems to know.

Yes, the Lounge/Bar opened on the Soi 4 street level of Susie's is now a "Japanese Only" operation. The former entrance to Susie Massage (later Susie Karaoke) which is a stairway to the second floor is currently getting a major face lift. Some time back the rumor was that the former massage parlor was being converted into a hotel. But so far no signs have gone up to give a clue.

On the Beach Road side of the building the beer bar is still open and apparently going good business. They don't have much competition at that location.

Roy