Interested in Thai real estate

[ginseng 0]

I'm in my early 30s and quite a few years away from retirement. I live in the bay area and there's no way I'll be able to afford a place here anytime. Everyone has their own opinions but I wouldn't buy a place here even if I could. I think everything is way overvalued and you might as well rent around San Francisco. My goal is to spend enough time in Thailand to become fluent in Thai, after that i'll probably go back and forth between the USA and Thailand. I don't think I'll have to wait until I retire but I estimate it's probably at least 5 years away until I figure out how to stay over there for a few years.

 

Would it make any sense for me to try to get a mortgage and buy a place in Thailand? I'm leaning towards a condo in Bangkok, Chiang Mai is another consideration. I'm also open to suggestions. I have excellent credit and a very good job but not much savings. If I can get a mortgage for a place in Thailand does it make any sense to buy one if I can't live there for many years? I'm only able to get over to Thailand about twice a year a little over a month a year total. I don't think the Thai real estate market is about to skyrocket or anything but I do think prices may be signficantly higher by the time I'm ready to try to start a life over there and I may have lost out on a good investment and the ability to have my own place.

 

I'm not really interested in renting the place, and I wouldn't care if it just sat unoccupied while I'm not there, but vandalism or other damage while I'm away is an obvious concern.

 

Should I just wait til I'm ready to move there or is there any logic in trying to buy now? The idea of owning a place in Thailand is strangely appealing to me, like having a secret getaway.

Edited April 2, 2006 by ginseng

[cybers1b 8]

If you do not have a non immigrant visa, work permit, and job in Thailand - I don't think that there is a way to get a martage for a condo from a Bank in Thailand, at least that was the situation in recent years. And a condo is the only thing that you can legally own in Thailand as a foreigner anyway. Also, condo prices in Bangok are rather insane at the moment anyway, at least for new developments. IMO, if you do not plan to live in the place you buy and if you do not intend to rent it out - and also, if you do not have enough money to easly afford it without a mortage - it does not make sense. Just my opinion.

 

cheers

cyber

[Gabor 296]

Real estate agencies around Thailand:

 

http://thaifold-ingatlan.lap.hu/

[kdc1899 1]

A nice apt in pattaya rents for $150.00 per month.

10 years from now the same apt may cost $225

You done missed the boom. No need to buy anytime soon.

[ginseng 0]

Alright I'll just go the rental route. Thanks for the tips.