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Should I Building a new house in Thailand


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I have been visiting Thailand since 2009 and I have seen many changes. At age 66, I have decided to move early next year. 

My Thai gf (49yo) wants new house. 

 

I would appreciate pros and cons from anyone that finished construction within last 3 years.

 

Thanks for all Serious Replies 

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My advice would be RENT.

 

If you buy/build whatever, it will never be yours. RENT you can move and try different areas, and if the relationship doesnt work you can walk away.

 

If you build a modest home in rural Thailand at 1.5-2 mil baht its dead money, money you will never see again. That same 1.5-2mil dependent on location could pay 20 yrs rent.

 

Visa situations and Thai Govt are far too unstable right now,  in my opinion to be making any long term commitment.

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At 66 years I would just be renting,you may need liquidation

of your money incase of any health issues in the future,the

Thai G/f,won't like it,but be firm it's your life,if she leaves

you,at least you will know it was only money she was after.

 

If you are a multi Millionaire $ ,do it ,you can afford to loose

a few million THB, how long have you known this lady ?

regards Worgeordie

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You asked for the pros and cons:

 

Pros:   she will be nice to you at least until the house is finished

Cons:   there are many......one is being conned  

 

( sorry if i am cynical.  you must research the heartbreak stories for yourself.  then, as

the thais say :  its up to you)

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Visiting Thailand (even if over several years and same gf) is vastly different than living in Thailand with a "wife".  Just for that reason, you are being really naive to even think about building a house before you have lived here for 2-3 years and know what makes you happy and where for the long term.  But, to build a house because the gf wants one, is just crazy man.

 

Pros:  1)  It's your house (sort of).  2)  No rent payment.  BUT - if you have owned a house where ever in the world, you know they nickle and dime you to death.

 

Cons:  There are too many to list.  

 

Conclusion:  RENT!

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I built over 7 years ago on my wife's land cost 1 mill large European bungalow , open plan lounge kitchen about 20x10 metres.   Made my money back on if rented already I guess.  I am not worried what happens to it in the future.  I have a usufruct till death - only security I need - though I have houses in Australia and Scotland if illness hits

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Way too many variables... if you are spending your last dime or will find yourself hurt financially if you have to leave, then no.. 

 

If easily affordable it is nice to have your own home and cost of living will be quite minimal after it is finished. 

 

I look at any such 'investments' here as gifts - and so far, so good... 

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Depends on a number of things - how long have you been with gf? Do you already live together abroad and, if so, for how long? If you spend 2-3m Baht could you walk away from it without detriment to yourself? Have you done the math of buying vs renting? Have you got medical insurance? Can you easily support all the initial and ongoing costs of a house in Thailand (whether buying or renting), retirement/married visa, medical, social, leisure. So many questions to consider before you can make a decision, consider everything before you make any kind of commitment.

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Where I come from, if single, we don't typically buy property for one's girlfriend.

 

Where I come from, if married, we typically buy a property with one's wife.

 

Having said that, if the OP has the fiscal fortitude to effectively hand over 1.2 to 1.5 million baht (equivalent) and be able to walk away frm it if/when it all goes 'pear-shaped', then why not? Note that going pear-shaped may not necessarily mean a relationship break down either. The ease with which a foreigner can retire here is being increasingly challenged by entities that we aren't even married to!

 

Valid comments have already been made about the OP prioritizing the finance of his own healthcare during his twilight years in Thailand.

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So Serl, you  have been coming to Thailand since 2009. Just joined TV 21 hours ago and posted about what is probably one of the most argumentative subjects on this forum.

I would put my money on Serl being an internet troll.  

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22 hours ago, Serl said:

 

I have been visiting Thailand since 2009 and I have seen many changes. At age 66, I have decided to move early next year. 

My Thai gf (49yo) wants new house. 

 

I would appreciate pros and cons from anyone that finished construction within last 3 years.

 

Thanks for all Serious Replies 

 

What reason is she giving for wanting a new house?  Why can't you rent a house or buy an existing house?   

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This reminds me of a friend in America with a filipino wife. He "bought" a house and bank gave him a 30 year mortgage at the age of 68....he hopes to pay off before hes gone with savings and SS. 

 

So just remember you are building the house for your wife - so if you are OK with that - build away.  Also expect her family to come by and some may possibly decide/be allowed to live there.

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If you decide to build that house ask yourself a serious question. "Do I care if I lose every penny of this money I am spending to buy this house?" More than likely at your age, that is what they are counting on. 

 

For the love of God, why not just rent a fully furnished place for at least 5 years with your GF and see how things work out first. As you will never own the home anyways I would still say don't give them a dime of your money.

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well the vast majority of posters are saying it is probably a mistake and I would agree. I owned a couple houses in Thailand and people don't understand how difficult it is to sell a house. the pool of buyers is very small as few foreigners will risk buying a house due to legal restrictions, few buyers are able to finance buying a property due to bank policy, and thais generally don't like buying second hand. it took years to sell my properties and I was very very lucky to get my money back. best to rent. rent is cheap and you can move if you are not happy where you are. trust me if things go bad with your girl you may want to leave in a hurry. I have seen some of them go absolutely crazy. my mate woke up at 4am to hear his thai girl slicing her arms with a razor in his bathroom. she seemed quite normal till she caught wind he wanted to leave her. you never know what will happen with visas either. being mobile is paramount to a happy life in Thailand.

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38 minutes ago, natway09 said:

Listen to Kenk 24,,,,, he is on the right track.

Not all Thai girls are bad as most of the posters think.

I have been in a stable relationship for 19 years & our properties make our lives very livable.

Yes, but.....EDIT:   OK, i will put aside my cynicism for a minute and say that i believe (and have posted before) that there are many nice girls out there.  The problem lies more in the person choosing one that will make for a stable relationship.  Add to that what another poster says about the many variables involved and the success rate is probably lower than the approx. 50% rate between western couples.   So, if you choose well and are lucky anything is possible  ????  If not we look forward to some tales of woe to liven up our day.

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Wait !   I think i found the perfect place for you and your gf.  for sale directly from owner !

 

www.facebook.com/groups/447129602079349/permalink/1770152116443751/?sale_post_id=1770152116443751

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2 hours ago, transam said:

Building a house here costs peanuts. If you have the peanuts go for it...

 

Not all farangs have bit the dust...????

 

If you have known your bird for a long time you should be able by now to suss any dodgy stuff...???? (perhaps)

"Not all farangs have bit the dust.." If you have good genuine common sense and are not a drunk, then go for it.????

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Does she get everything she wants? Big red flag buy me house. Buy me gold . Buy me motobike. Buy only what you need, in your name.  Never let your money be about her. As time goes on you can alway find a way to take care of her if you are not around . Like include her in your will. 

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37 minutes ago, natway09 said:

Listen to Kenk 24,,,,, he is on the right track.

Not all Thai girls are bad as most of the posters think.

I have been in a stable relationship for 19 years & our properties make our lives very livable.

Me, together for 13 years, lived together 5 years, then married for eight, then same same.

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It depends on your finances. If you can afford to walk away from it if things go sour, do it. If not, rent. Thai women are like any other - they crave the security of their own nest.

There are many builders around who can do a quite comfortable home for 1 million baht, if your GF owns some land. Be aware life in a Thai village can get monotonous.

The attachment is a 36 sqm stand-alone 1 bedroom apartment for guests, with aircon, ensuite bathroom/toilet, roof insulation and insect screening. Cost 300,000 baht.

IMG20170527151336.jpg

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