149 replies to this topic

[azza33]

The "loadable" credit/debit cards in the US hit you with a fee when you load them, about 5USD. However, most of the US cards like that can't be used everywhere outside the US because of fraud and the fact that they are used to launder illicit streams of money.
I'd be sure to check for countries that are blocked, as Thailand was blocked by Greendot.

Sorry to use the expression "load". Im talking about paying additional funds into a standard credit card.

You are correct about preloaded visa and even travel cards - many fees lurking.

[Zak601]

Spyder Rocket et al

 

This is a very interesting thread - thank you all for the information shared.

 

My two pence worth of contribution:

 

Moving long term or short term

I like options...option one winter months in Thailand...option two...summer months in Europe

Provided the budget is there, and I work hard to make sure it is, that is what I would do.

As the old age saying goes...never put all your eggs in one basket.

 

Buy or Rent

I would rent not buy for a number of reasons (just personal views and no problem with those who disagree) including being able to move if issues arise with neighbours and/or the state of the building.

 

Visa

Given that you are considering learning Thai (a good way of keeping the brain ticking in my view) an Education Visa may be a better option.

 

Money in general

A 74,000 thb per month will afford you a good standard of living. Drinking and Pay for Pleasure will initially create variables to your spending. I suppose there will be a honeymoon period with some excess trends followed by a more stable period.

 

Banking

I would open a deposit account and withdraw at the counter with my ID.

If transferring from your home country I would also consider opening an account with a bank in a more stable neighbouring country like Singapore which will have branches in Thailand.

 

Relationships

Never say never BUT as much as I love Thailand there are several different cultural issues which crop up from time to time. I am not saying that Western culture is any better...just different. I do appreciate the ease of "contracting" affection and there are advantages in paying for someone not just for pleasure but for them "to leave" after you have satisfied that urge. To the contrary if romance is important to you then you will be unlikely to take heed of my view. One way or another we always end up paying.

 

Where to live

I prefer the north for longer spells, Bangkok in small doses and occasional journeys to the seaside.

Phuket and Pattaya are not in my radar for multiple days/nights. Nothing wrong if you happen to live there of course.

They can be fun on the odd occasion (and from the posts I read here they seem to be) but I find them a little too much in your face kind of locations.

 

In any event, good luck, thank you again for the thread and I hope you fulfil your dream.

 

Cheers

[Spyder Rocket]

Thanks for all the effort guys. Great thread!!! I enjoy reading about this topic immensely.
Im probably 9-10 yrs away from making the move, all things going to plan.
Often wonder if purchasing a condo is worth the effort. Nothing fancy, just something in the 2mil baht range in Pattaya.
I know rents are cheap but the comfort of having a place to keep everything and having a few of my own creature comforts without having to find storage is rather appealing.
Anyone gone down that path?

I was just reading a discussion on an Expat forum about Thai government regulations concerning condo buildings and a poster was claiming that ownership of the condo units has to be at least 51percent Thai. It might be a rarity that something like that could effect the resale of a condo, but it makes me wonder what other quirky government regulations on farang property ownership are out there.

I think my biggest fear in owning a condo unit would be the reliability of the management company that does maintenance of the common areas.

I have seen the following scenario play out in the USA and I'm sure it happens in Thailand:

You buy a condo in an immaculate high rise and everything is fine for a couple of years, and then the occupancy level of the building reaches a profitable level, so the management company starts skimping on upkeep of the building, because, hey, they don't need to attract anymore tenants. At that point, you really don't have many options but to sell your unit at a loss or live in a crappy building.

Plus, in that part of the world the humid climate can cause serious mold problems on an improperly engineered structure. Before I bought anything, I would be sure to make myself smart on that aspect of things. I do know that mold can be hidden for a couple of months with primer and paint, then it comes back with a vengeance. I think you'd have to learn about hiring a third-party building inspector.

I am wary of buying condos in the USA, I'd be too afraid to buy one in Thailand.

If you are in a lease, you can just move when the lease is up.

I would love to hear more on this from someone who has actually bought property in Thailand, because I'm speculating on this; however, I think my concerns are reasonable.

[dixon cox]

I would love to hear more on this from someone who has actually bought property in Thailand, because I'm speculating on this; however, I think my concerns are reasonable.

 

The Thai 51% / farang 49% ownership is definitely correct, as things currently stand. A foreigner cannot own the land itself but can own a property built upon that land outright, either house or condo. 

 

I am not talking from personal experience here, only from several reliable friends/acquaintances/sources. But an option farang may use if they wish is to buy the land with a Thai's name on it and then lease it back, for say 30 years for B100, for example. This can all be arranged at the time of purchase with the help of a decent lawyer. 

 

This may suit someone who supposedly has a Thai partner as it gives the Thai something for the future and also provides the farang with a reasonable amount of security in not having the ground swept away from under his feet.

 

Obviously the downsides are that if you live beyond your lease agreement you have to rely on the Thai being willing to extend under reasonable terms. Plus you are essentially tied to that location too and you never truly own it.

 

This method is something I would never do, but it is an option which is why I mentioned it. 

[Spyder Rocket]

Banking
I would open a deposit account and withdraw at the counter with my ID.
If transferring from your home country I would also consider opening an account with a bank in a more stable neighbouring country like Singapore which will have branches in Thailand.



Cheers

That is an interesting idea, but at first glance, I think it might be more costly because it would add an extra set of transfer and conversion fees going from USD to SGD to THB.

It might be a negligible loss with a one-time bulk cash transfer, but if your income string is coming in monthly installments, I am thinking that those fees would add up over the course of a year.

Plus, you would be tracking the currency fluctuation between three currencies as opposed to two.

[Spyder Rocket]

Earlier in the thread, I was asking about Koh Chang and it seems there isn't much information out there about it.

I went there in 2006 for about a week and liked it, but that was a while back and I have heard that a lot has changed since then.

I plan on scouting Koh Chang this summer, but would appreciate any insight that might be out there.

For reference here is a tourism website that has some information:

http://iamkohchang.c...long-prao-beach

PS

I realize Koh Chang isn't a mongering destination, that isn't a prime concern of mine; however, according to that website, South White Sand Beach is the place to go for mongering on Koh Chang.

[deelight]

I think the guys that can make it out of the red light districts have it figured out, cheaper and much more of a normal pace of life, perhaps thinking about anything else is kinda a oddity, no judgement, I could be wrong.

[azza33]

I was just reading a discussion on an Expat forum about Thai government regulations concerning condo buildings and a poster was claiming that ownership of the condo units has to be at least 51percent Thai. It might be a rarity that something like that could effect the resale of a condo, but it makes me wonder what other quirky government regulations on farang property ownership are out there.
I think my biggest fear in owning a condo unit would be the reliability of the management company that does maintenance of the common areas.

You most definitely can own a condo in your own name without any thai ownership.

The condo complex overall must be majority thai owned.

DC is correct about the land. 51% with a thai. (In general)

Id like more info on the annual running costs of a condo.

[thailover57]

Two cents on banking. My bank in the NE USA has a service where they'll do a monthly transfer to my BKKBank account for a flat rate of $3.00. My pension is automatically deposited in my USA bank. Using the USA bank's debit card here gets a service charge of 150 baht plus the USA bank charges me a percentage as well as an exchange rate fee and just to get 10k baht costs me $12.00+. And BKKBank doesn't charge an ATM fee.

[jimbo34]

You most definitely can own a condo in your own name without any thai ownership.

The condo complex overall must be majority thai owned.

DC is correct about the land. 51% with a thai. (In general)

Id like more info on the annual running costs of a condo.

 

 My thai friend has just had her annual maintenance bill - 10,200Bt (up from 9,000 last year) and she's not happy about the way things are going. They're skimping on the maintenance - cleaning the corridors less often, lack of security at night, not fixing the faulty entry door etc etc.

 And i believe it'll get worse as time goes on.

 I advised her against buying but no, she wanted to be "madame" and own her own property. She's finding its not so easy. And she's thai in a mainly thai building. I've advised her to sell (if she can) but there may be "face" issues in doing that.

[azza33]

Thanks Jim. Lot cheaper than i actually expected.

 

Just in case anyone is thinking i've lost my marbles... I'm merely thinking,

 

I don't see property as an investment (expecially in Thailand) - there is a convenience factor which appeals for a modest outlay (in western terms at least).

[jimbo34]

Its just a small studio apartment, Azza. Larger apartments (and you would want larger!) will obviously cost more. She pays a couple of thou per month electric and water, but only uses the aircon when i'm there, lol.