Cost of Living Chiang Mai

[soi6 0]

cost of living in CM

 

THAILAND

 

 

 

 

Budgeting for Life in Chiang Mai

 

Consider settling down in Chiang Mai, where a retired couple can live for as little as $1,055 per month for basic expenses.

 

We know a single man, an American, who lives on only $200 a month, with half of that for rent. He gets around on a bicycle and eats at noodle stalls--or for free when a temple offers lunch. He makes a sport out of spending as little as possible. We know a Thai American woman who bought an apartment in a small town 15 k.m. from Chiang Mai. She manages on $600 a month Social Security and, as she is Thai and over 60, she has free government health care. But those are special cases, exceptions. You should start with a bigger budget, below.

 

House and apartment rentals can vary a great deal. We know a couple who rent a place in the countryside 12 kilometers from old town Chiang Mai and pay only $135 for a small home and garden. You will certainly pay more for larger, newer places in town.

 

Foreigners can own apartments/ condos in Thailand but, unless they go through hoops, not real property. So we show living costs assuming the purchase of an apartment/ condo.

 

 

 

 

House or Apartment Rental

 

 

 

 

Rent

$400

Can vary greatly

 

HOA Fees

$0

 

 

Property Taxes

$0

 

 

Transportation

$100

Local buses $.60 per person, taxis average $2,50 per ride

 

Gas

$0

 

 

Electricity

$50

Average value, depends on air-con

 

Telephone

$15

Cell phone, depending on use

 

Internet

$40

 

 

Cable TV

$50

Includes English language movies

 

Household Help, part time

$50

Once or twice a week

 

Food

$100

 

 

Entertainment

$250

Includes meals away from home

 

Homeowner's Insurance

$0

 

 

 

 

Exchange Rate: $1=35 baht (Jan 09)

 

TOTAL

$1,055

 

 

 

 

 

Apartment Ownership

 

 

 

 

Rent

$0

 

 

HOA Fees

$75

 

 

Property Taxes

$0

 

 

Transportation

$100

Local buses $.60 per person, taxis average $2.50 per ride

 

Gas

$0

 

 

Electricity

$50

Average value, depends on air-con

 

Telephone

$15

Cell phone, depends on use

 

Internet

$40

 

 

Cable TV

$50

Includes English language movies

 

Household Help, part time

$50

Once or twice a week

 

Food

$100

 

 

Entertainment

$250

Includes meals away from home

 

Homeowner's Insurance

$35

 

 

 

 

Exchange Rate: $1=35 baht (Jan 09))

 

TOTAL

$765

 

 

 

 

 

Car Registration

$20

 

 

Insurance

$20

 

 

Maintenance

$40

 

 

Fuel

$100

 

 

Car Total

$180

Exchange Rate: $1=35 baht (Jan 09)

 

 

 

 

 

 

If you have a car you’ll largely eliminate the $100 a month budgeted for local transportation.

 

Costs skyrocket if you want to live in Bangkok , figure you’ll pay double for rent, transportation, eating out and entertainment.

 

 

 

Paul Terhorst

For Live and Invest Overseas

[midlifecrisis 4,012]

no mention of health insurance?

[Dr Mick 111]

$1,055 per month for basic expenses.

 

Im sure thats ok as my basic living costsin Khon Kaen is about £500 /750 USD ,

 

but to enjoy life and still have many holidays ect,ect my avg month spend is

 

about £1200 month / 70000 bhts month ,sure with more control could still have good life

for £1000 month /1500 USD .

 

So I would say you would need 1500 USD month to live a good life in Thailand

Dont forget hidden costs do appear now and again.

 

A single man to obtain a retirement visa must have 65000 bhts month income or

800000 bhts in a bank ,strange it less for a married couple

[shamasdog 1]

I'm squating in CM right now and the costs are very resonable.

 

Studio in nice building, water and elect are $250 mo.

 

Internet is free in my building, or you can use the little internet cafe out front which runs 10Bt an hour.

 

Food, at the local stalls it's about $3 a day

 

7-11 for bottled water, $10 mo.

 

Whoopie money, $60 a month Not much for P4P but it has some action.

 

Booze - Zilch, I no longer feel a need to get drunk.

 

Transportation $10 a week tops

 

Health care, ???? , I'll check on that shortly.

 

Shamas

[Chivas 0]

Shamasdog,

 

Mad as a hatter-Sorry

Edited June 13, 2009 by Chivas

[packhike 13]

Also much cooler in CM. Nothing better then being there

in the winter time and feeling a bit of a chill late at nite.

[Owen` 2]

Keeping an eye on this thread for the always elusive present price of healthcare insurance.

[js007 795]

Keeping an eye on this thread for the always elusive present price of healthcare insurance.

 

Are you implying that people need to consider that in their calculations? Maybe they already have it. Maybe they think they don't need it.

 

J

[Owen` 2]

If they already have it, then its cost is X per year and gets added to the rest of the cost of living per year.

 

If they think they don't need it, then its cost is 0 + the amortized yearly average of all medical expenses they will ever have.

 

Theoretically the first number will be greater than the second averaged among all the people, since the company makes a profit.

 

Anyway, it would be nice to know the going rate for health care insurance for CM expats.

Edited June 18, 2009 by Owen`

[Emil 0]

cost of living in CM

 

THAILAND

 

 

 

 

Budgeting for Life in Chiang Mai

 

Consider settling down in Chiang Mai, where a retired couple can live for as little as $1,055 per month for basic expenses.

 

We know a single man, an American, who lives on only $200 a month, with half of that for rent. He gets around on a bicycle and eats at noodle stalls--or for free when a temple offers lunch. He makes a sport out of spending as little as possible. We know a Thai American woman who bought an apartment in a small town 15 k.m. from Chiang Mai. She manages on $600 a month Social Security and, as she is Thai and over 60, she has free government health care. But those are special cases, exceptions. You should start with a bigger budget, below.

 

House and apartment rentals can vary a great deal. We know a couple who rent a place in the countryside 12 kilometers from old town Chiang Mai and pay only $135 for a small home and garden. You will certainly pay more for larger, newer places in town.

 

Foreigners can own apartments/ condos in Thailand but, unless they go through hoops, not real property. So we show living costs assuming the purchase of an apartment/ condo.

 

 

 

 

House or Apartment Rental

 

 

 

 

Rent

$400

Can vary greatly

 

HOA Fees

$0

 

 

Property Taxes

$0

 

 

Transportation

$100

Local buses $.60 per person, taxis average $2,50 per ride

 

Gas

$0

 

 

Electricity

$50

Average value, depends on air-con

 

Telephone

$15

Cell phone, depending on use

 

Internet

$40

 

 

Cable TV

$50

Includes English language movies

 

Household Help, part time

$50

Once or twice a week

 

Food

$100

 

 

Entertainment

$250

Includes meals away from home

 

Homeowner's Insurance

$0

 

 

 

 

Exchange Rate: $1=35 baht (Jan 09)

 

TOTAL

$1,055

 

 

 

 

 

Apartment Ownership

 

 

 

 

Rent

$0

 

 

HOA Fees

$75

 

 

Property Taxes

$0

 

 

Transportation

$100

Local buses $.60 per person, taxis average $2.50 per ride

 

Gas

$0

 

 

Electricity

$50

Average value, depends on air-con

 

Telephone

$15

Cell phone, depends on use

 

Internet

$40

 

 

Cable TV

$50

Includes English language movies

 

Household Help, part time

$50

Once or twice a week

 

Food

$100

 

 

Entertainment

$250

Includes meals away from home

 

Homeowner's Insurance

$35

 

 

 

 

Exchange Rate: $1=35 baht (Jan 09))

 

TOTAL

$765

 

 

 

 

 

Car Registration

$20

 

 

Insurance

$20

 

 

Maintenance

$40

 

 

Fuel

$100

 

 

Car Total

$180

Exchange Rate: $1=35 baht (Jan 09)

 

 

 

 

 

 

If you have a car you’ll largely eliminate the $100 a month budgeted for local transportation.

 

Costs skyrocket if you want to live in Bangkok , figure you’ll pay double for rent, transportation, eating out and entertainment.

 

 

 

Paul Terhorst

For Live and Invest Overseas

 

I think you've understated your 2nd example. Owning a place will eventually have some maintenance costs, also it requires one to use some of their funds to make the purchase thus reducing what one could be earning on those funds (probabley not much at this time). Same thing with owning a car, however most cars will reduce in value over time and if not taken care of will need to be replaced. You need to add in a depreciation cost for the vehicle unless your planning to keep it for the rest of your life.

[js007 795]

If they already have it, then its cost is X per year and gets added to the rest of the cost of living per year.

 

If they think they don't need it, then its cost is 0 + the amortized yearly average of all medical expenses they will ever have.

 

Theoretically the first number will be greater than the second averaged among all the people, since the company makes a profit.

 

Anyway, it would be nice to know the going rate for health care insurance for CM expats.

 

Health insurance. I have it, but they take the money out of my pension check before I get it ($137 a month), so I don't really figure that into my calculations. Ditto for income taxes.

 

Actually, even though my insurance is supposedly good anywhere in the world, I think it's probably the case that if I have a claim, I pay out of pocket and then file a claim. So, it might be in my best interest to also have a BUPA or other Thai policy, just in case of an emergency. I'm not sure what the hospitals will accept before they begin treatment. Or, maybe just a good accident insurance policy? I'd rather not die in an emergency room somewhere while they're trying to figure out how I'm going to pay them.

 

J

[Emil 0]

Health insurance. I have it, but they take the money out of my pension check before I get it ($137 a month), so I don't really figure that into my calculations. Ditto for income taxes.

 

Actually, even though my insurance is supposedly good anywhere in the world, I think it's probably the case that if I have a claim, I pay out of pocket and then file a claim. So, it might be in my best interest to also have a BUPA or other Thai policy, just in case of an emergency. I'm not sure what the hospitals will accept before they begin treatment. Or, maybe just a good accident insurance policy? I'd rather not die in an emergency room somewhere while they're trying to figure out how I'm going to pay them.

 

J

 

Your health insurance is similar to mine as its taken directly out of my pension check. I would recommend that you also carry a credit card along with your health insurace card to let the hospital know that you can cover the initial costs to save your life. The accident insurance policy is a good idea and shouldn't cost much.