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Ready 2 Retire

buying a house (land hers, house mine)

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G'day guys,

 

we found a house in hua hin we would like to buy. I'm aware of the pits of not owning the land and all. I am ater some other information and hope someone can help.

 

1. my money is in australia, i'm in thailand for another 2 weeks. can i transfer it to my wife's account? is it best if i open a thai bank account? (does anyone know if i can wire it from here? or do i have to go to a branch in oz?, i believe i can paypal it across)

2. can i opt for a long settlement? is it done here? i'm thinking 3months.

3. is there a container storage solution in hua hin? i need to go back to australia to send personal effects and prepare my house for rental. the stuff would be in storage until i get a chance to build a bungalow/storage room in the backyard.

4. can i modify a projects house? eg. add a room/add storage room easily? i'm referring to the closed security house developments. everything looks the same that's why i'm asking.

5. are there any scams going on with these housing developments? (apart from the 3000b p/m maintenance)

 

thx guys, should i usurfruct or own the house on wife's land? (i dont understand how it would be different for me)

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thanks for the replies guys 🙂 it's true i'm kinda rushing it a bit. i've been coming to thailand for 5 years, moving here has been a dream for a while though. i'm kinda sick of the rat race in melbourne, ready to retire!!

(i sold one house from the overpriced australian market and with that money i'd buy here. i also have another positevly geared house to lease out to pay for bills).

the 3k pm is for gym, pool, security guard and bins i believe. 300 a year sounds a whole lot better!! 😄 we're off to see some other houses this arvo. thx again all.

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OP.  You have 2 choices that I can see: 1. listen to good advice. 2. Do as you please and DO NOT listen to good advice.  The choice is yours, choose wisely and good luck in all your endeavors.

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4 hours ago, Crossy said:

I can answer some of these, others will be along with better answers.

 

1. It depends upon your bank whether you can set-up an international transfer on-line. Talk to them. Always best to have your own account (but can be fun to set up), but should be no issue transferring to your wife's account.

 

2. I had to Google for this. Do you really need the time, any delay (with a deposit paid) would be entirely up to the vendor and of course gazumping is not unheard of.

 

3. No idea.

 

4. Again it depends, older developments seem to be less picky about external changes, sheds, car-ports etc. Ask the development management.

 

5. I can't comment on 3k per month maintenance as we're not on a development, does seem a bit steep but it depends what it covers (pool, gym, gardens etc.). For contrast we pay 350 Baht a YEAR to the local village office which covers bins twice a week, street lighting, village loudspeakers, nice plants outside the office etc. etc.

 

Since it's a pre-built home it may not be possible to separate the house from the land. It also depends upon the ownership mechanism, is it a separate chanote (deed) for each plot or are the plots all leased from the developer (sometimes done to allow foreign "ownership" of houses).

 

We did look at a couple of developments but in the end opted for buying some land (1.5 Rai about 2,400m2) and building our own home. Design by Wifey "I like that" (points at old teak house), engineering by me (adapted from a free government plan), construction by a recommended local contractor (who is still a friend).

 

Came out OK. Photo about 3 years ago, you can't see the house from that point now, trees grow very fast here 🙂

 

Image00001.jpg

 

 

 

That's a top shelf looking house.   Would you be comfortable to  give a few other details?    Size, rooms, Kitchen and etc.   

 

Maybe even an interior pic or two?

 

TIA

 

 

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15 minutes ago, jackdd said:

A usufruct with your wife is worthless by Thai law.

If you buy a house and put it in your wife's name you can see it as a present to her.

In case of a divorce you are entitled to 50% of it, but if you will ever get this...

 

The imho best idea for anybody with a wife who wants to buy a house: 

The wife takes a loan from a bank to buy the house. You just pay the monthly rates. This is then as if you were renting a house, if you break up you just walk away from it. If you are still together after the loan is paid off you can stay rent free 😉

 

"The wife takes a loan from a bank to buy the house."

 

Ok,  but that eliminates 90% of the ladies in Thailand since they won't have the qualifications to borrow  from the bank on their own.   In theory, however, I think you have a great idea.

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27 minutes ago, watcharacters said:

That's a top shelf looking house.   Would you be comfortable to  give a few other details?    Size, rooms, Kitchen and etc.   

Maybe even an interior pic or two?

The gory details are in this thread, rather than go off-topic on this one I'll see if I can un-archive it.

 

EDIT This particular post should help with layout etc. https://forum.thaivisa.com/topic/481794-housebuilding-thread/?do=findComment&comment=4640364

 

 

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A usufruct with your wife is worthless by Thai law.

 

hummmm. It has worked will for me. I have total control of the house. I rented the house to other people. no problem. The only problem is I cannot sell the house without her signature...and that will cost me a ton of money.

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Not trying to be funny here but the thread title should be "Land hers, house hers". I bought my place in the wife's name, but even if I hadn't, I know I'd have a hell of a job trying to sell up if it came to it. On the odd occasion I've mentioned it as a contingency plan, she just goes into ignore mode.

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1 hour ago, ebean001 said:

A usufruct with your wife is worthless by Thai law.

 

hummmm. It has worked will for me. I have total control of the house. I rented the house to other people. no problem. The only problem is I cannot sell the house without her signature...and that will cost me a ton of money.

In one paragraph  you quote you have total control yet then quote you can't sell the house....

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I had a house built on my TGf,s land 4 years ago cost was 1.3 mil baht....I went into the venture with eyes wide open knowing full well I would never get any money back if the relationship turned sour,no matter what the law here says,so my advice is simple...do not spend any money here that you are not prepared to walk away from later :thumbsup:

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Re #1, if you have online banking already you should be able to do internet transfer to Thailand, but there is usually a $10,000 limit per transaction so you may have to do several transfers. I can do it through Westpac at $5 a time but some banks charge much more per transaction. You could also just go into the branch when you get home and do one transaction for the whole amount, from memory that cost $30 many years ago. Just make sure you have the correct SWIFT code and account numbers whichever way you do it !

 Probably best to transfer it into an account here in your name, slightly less chance of questions being asked or flags raised in Aus because of anti money laundering and support of terrorism regulations. BUT that may involve jumping through hoops here depending on your visa status ?

 Whatever you do, send it in Australian dollars not baht and let the bank here convert it.

 As for #4, a friend lives on one of those gated communities in Hua Hin and he has put a “removable “ shed in his back yard, but cannot make any permanent alteration to the property.

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