I have been traveling and living in different countries for the past 7 years , think it is better to rent. I bought 1 in Spain and thank God I did not lose any money , always buy at your home country.
I would never buy anything in Thailand or elsewhere. It would ground me. No thanks. I would only rent. I need my freedom to go whenever I feel like it.
@@andyfin990 In the middle of Chiangmai and it's probably one of the nicest condos here, but yes quite expensive by Thai standards. To be honest I don't like Chiangmai, it's full of retired or just rich Western men that pay women to be their girlfriend (an allowance). The women here have become entitled and just expect money now, Chiangmai is no longer a normal Thai city, it's more like Pattaya but instead of open prostitution it's 'rent a girlfriend' style prostitution. Can't wait to leave, I'm thinking any of the Thai cities that haven't been infested with farangs will still have some untainted women left.
@@andyfin990 Thanks Andy sounds awesome. I think you and I have an understanding of the topic I mentioned, and seems you've had the same insights as me albeit much earlier. I was on a date with this 38yo Thai woman today, reasonably attractive, she was telling me how farang were approaching her offering 35,000 baht per week for 'rent a girlfriend'. But she's over her dating for money phase it seems, not sure if I should be happy or sad about that. Any way we can get in touch? I bet you have some great stories to tell.
Thailand changed into the bad It’s good for long term holiday specially in winter Rent rent rent property Never buy My advise to foreigners A motorcycle is ok for purchases Easy to sell But property is a different thing
What a thoroughly genuine and nice bloke your pal James is Jonny!👍 I found his comments and thoughts most interesting. As a fellow Englishman considering retirement myself and falling in love with Thailand, it’s my ‘number one’ on my very short list of retirement destinations. Thanks so much to James for taking the time to share his knowledge and experiences with us, I personally would be very pleased to see and hear more from him in the future on your channel. Thanks guys..👍 Regards, Dazza. 🇬🇧
I'm a 48yr ol' man wanting to try winter living in Thailand,can you give me any advice,I'm not super picky just like a basic pad wot kinda money for rent?
Never purchase property anywhere you do not have permanent residency rights. Laws regarding foreigners can and do change all over the world. Thailand has been good about renewing retirement visas so far but that can change at any time leaving you unable to access .
Whether you rent or buy all depends on your situation, if you are happily married and intend on staying long term then buying is a good option as long as you don't rely on the properties appreciation to earn an income. I have owned three houses in Thailand and yes I had trouble selling two of them but I made a small return. As 99% of foreigners are with younger Thais I think its nice to leave some security for your partner when you go. I enjoying renovating and being able to create a luxurious home to live in, if you're going to be here for a long time renting can be a bit restrictive, I am constantly making upgrades that I could not do renting.
Dental and medical care in Thailand are top notch. I hope the country opens up again since it's a great source for health care as well as super nice people, great food and wonderful scenery!
@@JazzFunkNobby1964 How was the price compared to your home country ? I had stents fitted in Australia ! Some people commenting on here live on a different planet and I am thinking Uranus !!!!!!
@@JazzFunkNobby1964 Good to hear! My neighbor had a total hip replacement in Thailand for $18k total and that included the two surgeon's fees and rehab there. he has done really well. In USA the lowest hospital quote was $48,000 and surgeon's fees $12,000. Same comparative savings for dental care. the Chief of my local dental school was trained in Thailand and she suggests going there and pay 1/5th or less for equal if not better dental care for everything from root canals to implants to dentures. I hope they open soon.
Thanks Jonny and James for being so open about home ownership tbh it’s not for everyone particularly if you are looking for a return on your investment, for most of us it represents an opportunity to buy or rent a place in a sunny, beautiful country, take care gentlemen and be safe!✌🏼🏴⚽️
Great interview fellas, I appreciate the information. I love Hua Hin, what a marvelous town! You gentlemen are the best! Johnny, you did just fine! Hindsight is always 20/20. Don't have any regrets, you're in paradise!
I really enjoyed this video. I was surprised to learn that water & electricity bills are somewhat similar here in Kuala Lumpur! He was brave to risk buying in a foreign country like that though. I felt like his home was beautiful! And super comfy! That pool & guest bungalow is a dream! The shock to my system is that 5Million baht is a ridiculously cheap RM620,000 in Malaysian currency for what amounts to a semi-detached house WITH a pool! He's got quite a lot of comfy bang for his buck for that amount! Oh and by the way, there's a WEALTH of information, hard won knowledge & experience down here in the comments! Thanks all you guys!
this house is located in Hua Hin province, so yes it will be cheaper than in Bangkok, Pattaya, Chiangmai or Phuket. the price could go high as 15+++million thb for a house with a pool in more populated province
Hi Johnny Good video mate. I first arrived in Thailand 46 years ago at the age of 25. Over the years I've lived permanently for 36 years so I've gained what I believe is a good insite into the country and the wonderful Thai people. I speak fluent Thai which of course has enabled me to gain an in-depth knowledge of the people and Thai culture. A few questions about how he managed to own the house and land? You didn't ask who's name the house is in or if he had a long term lease or has it in a company name. The latter is fraught with danger these days as a few years ago the Thai government started to crack down on foriegners forming companies to buy houses. He is married so is it in his partners name? That can also be fraught with danger as I'm sure you're aware. I've been married twice to Thai ladies and have 3 great children all grown up of course. In the old days ( mid 70s ) Thai women were so lovely ( and still are today ) although the subject of buying land and building a house for them was never brought up. There's been an over supply of houses, condos etc for many years already, long before Covid came along. One only has to look around whereever you are in Thailand to see empty houses in housing estates and condos empty and for sale everywhere. Renting is the only smart way to go as you both agreed in the vlog. I'm at present stuck in Adelaide due to COVID-19. When I return to Khon Kaen ( after quarantine only ) I'll move back into my old apartment which sets me back 3000 thousand baht a month inclusive of rent, electric and water. An older block so it's a big room with a balcony and a great view as it's an end room overlooking some empty land and the city downtown skyline. Prior to the apartment I rented a stand alone 3 bedroom 2 bathroom furnished house for 6K a month. I'll be interested to hear how he set up the ownership of his house? I've seen so many Farangs arrive in Thailand who are extremely naive and gullible and enter into relationships buying property in their partners names. It does work sometimes and I have friends who've been happily married for 30 years or more but they are few and far between. When I meet foriegners and tell them I've been living in Thailand so long they usually ask. What would you suggest we do to make life easier living here? My answers always the same. Learn to speak the language. Very few ever make the effort. I'll be interested to hear the answers to my questions Johnny. Keep up the good work. I have an Aussie mate living in Hua Hin and I'll be visiting him and his family when I return. Maybe we could catch up for a drink Gray
21 years here. Married to a Thai and a daughter special needs. 4 bedroom 3 bathroom house …rented this for 10 years. 10,000 baht a month 2 year rolling. Nobody has ever talked me out of renting. We’ve made it our home. My wife recently said maybe we should get discount rent for repairs . I said go outside and look what we have. It’s wonderful in Chiang Mai…….don’t buy here always rent
@Alexander perhaps Alex, you obviously know as well as I do, never predict Thailand. I’m thinking of starting a school in Chiang Mai …….all I teach will be common sense. What do you think? because as far as I’m aware, it’s escaped the world momentarily.
Admire his honesty. Most people that buy and regret will never admit they made a mistake. Kudos for being honest. Don't know why anyone would buy in Thailand. Rent until you determine if you can really take this type of environment.
Great vid Jonny, good honest advice that I agree with. I built in Nongkhai 2011. Wife and I stuck in Sydney atm and hopefully back to Issan soon. We are lucky enough to be able to go back and forth. ( when no covid) My advice is never cash in property in you home land. No regrets on what I spent in thailand which I thinking is about 6 mil bt.maybe more. That’s big house, furniture and a new D max plus motor bikes and a Tuk Tuk to play with. I say only invest in thailand what you are prepared to lose. Also the old saying is “you can’t take it with you” If you love Thai life style then just do it but it’s not a place where your investment grows.Cheers
I have no desire to buy property in BKK (foreign land), I put my money in Index Funds, collecting earning from my investment and use it to paying rent in Thailand-rent is cheap. I don’t see myself in one property for 5-10 years especially in Thailand. Retirement is about being flexibility, if your circumstance change you can pick up and leave, then being stuck with a property you can’t sell. I have met a lot of expats just like him, regretting putting 3-10 millions baht and stuck with a property and can’t sell.
Great video Johnny, I was born and raised in the UK and I live with my wife who's from Thailand and we have decided to retire in the next 7 years to Thailand and as James said the biggest reasons are the weather and the cost of living, my pension will go a long way and I won't have to worry about the extortionate council tax and utilities that I currently pay. Living in the UK is an absolute rip off especially for the elderly, the only good thing is the healthcare but who knows whats gonna happen with that as the government wants to privatise the NHS.
Healthcare in Thailand is better than UK, I am from Norway, I have never received healthcare better than Thailand no were else in the world, no need for appointment and all that if something not good happens.
This is the best video I've seen on buy vs. rent. So if I am understanding correctly (1) Don't sell your property back home to buy in Thailand, but rent back home and then use the rent to rent in Thailand. (2) Selling is more difficult than in the west which can be a problem if your neighbours are nasty. In my own situation I don't own back home so this might not apply to me so i will continue to research. How is it you bought a house/land i didn't think foreigners could do that. Beautiful house BTW.
I have a fundamental issue of sinking a large amount of money into property anywhere where I don't have iron clad ownership or I don't have iron clad residency. In retirement since I'm not too keen on being a landlord I would invest in a Real Estate Investment Trust if I wanted exposure to real estate in my portfolio and then rent wherever I my travels take me.
@@ariefraiser140 Residency is IMPOSSIBLE for Westerners in Thailand and OWNERSHIP of real property is ILLEGAL. Stick to your REITs but don't buy into a REIT that invests in American strip malls, okay? lol
This is the video to watch contemplating purchasing housing in Thailand. Jonny and James provided remarkable transparency and excellent FAQ. All fairness to James not capturing higher quality capital gains was hindsight. Safe Travels!
I can't really see what the problem is. He's living in a great house with a grannie annex, swimming pool in a great area according to him. In London you would be iooking at half a million quid for a one bedroom flat + service charges + council tax + parking charges + ULEZ charges for a 99 or 125 year lease. Why he feels hard done by I have no idea for £100k he has what most people would give their eye teeth for other than if he bought to make money out of it. He needs to consider the fact he's lived rent free for 6 years and he has something to sell if he wants, seems to be worried about recovering the money he outlayed and the fact it hasn't kept up with UK, OZ or other markets. Look at it this way 100k divided by 30 year lease = 3.3k per year divided by 52 = 63 pounds per week when converted works out to less than 12,000b per month excluding running costs. I only see a problem if you don't want to retire and live permanently in the country. 🇨🇮☘️🙂 but then I'm only a thick Irishman.
I'm sure you are not a "thick Irishman". Although I've met one or two in Pattaya. LOL. It's more that if he wanted to move he may NEVER be able to sell it. Most properties can't even be given away in Thailand. There's a 100 selling to every 1 buyer. So recovering a fraction of what he paid for it, may not even be an option. Even more so in Covid times and in the future now. Like they said, if you have noisy neighbours, or dogs, or run into other problems, you can't move, and no one is gong to help you with your problems, especially if your neighbours are Thai. Many Thais wont buy an old property incase someone has died there and it's haunted. YEP ! For people who have money to burn (throw away), buying your own property is awesome, as who doesn't want to live in a place that you can do what you want with and call your own. But for people that are using their retirement money, NO WAY. Keep your money in your own country and bring over what you need each month ! I've live here a long time, and this is JUST MY OPINION. ;-)
@@jessemrk It's still a very inexpensive, lovely living space in Hua Hin ; also remember , it's CV19 time ; wait till all things CV19 settle down ; he also notes as an afterthought that he could rent it annually for a considerable sum Altogether, its a delightful place to live for a modest outlay
@@jessemrk Thanks Mark, If he can not recover his money through a sale perhaps renting it out long term might do so or he could rent out either the main house or annex for additional income. Myself I agree with his coming to the conclusion of should have rented. regards
@@jessemrk exactly. Ever notice how Chinese, Brazilians, Russians, Mexicans, Taiwanese and so many others send their kids abroad for education. invest their excess cash in the U.S.. U.K real estate and try to get residency cards, Etc ? They know their own economies, currencies and governments are weak. Don’t shoot at juicy targets from far; keep your powder dry in your home arsenal if you are from Eurozone, U.S., Canada, N.Z. or Australia.
@Duncan Donut Donut hi scott from New Zealand do you recommend to rent a condo or buy like to live in udon thani or hue hin and would 18 million baht with pension be enough to survive thank you for your advice from Scott new Zealand
What would possess anyone to buy a condo in Thailand when you can just rent from AirBnB and have the flexibility of uprooting without all the headaches that go with trying to resell?
I hate people being rude to me for no good reason. it makes me feel so bad especially these days having lost my son and my job in one year. That and my husband being a right ****. Cheers mate.
Jonny and James, great video. James is 100% correct. If you buy here, it's a lifestyle decision. In all likelihood, your property will depreciate in value. I live in a in a prime Bangkok location. Recently, I looked at a unit for sale. After only 4 years, it looks very 'second hand', and the outside of the building already looks tired. Interestingly, the Thai owners are asking significantly less than they paid 4 years ago.They overpaid on purchase and now face the problem of selling a second hand apartment. As James said, Thais have a cultural aversion to buying a used condo/house. Also, Thai banks offer lower LTVs for second hand units. Another issue for retirees is settling their will when their date with destiny arrives.
I like the idea of owning 3 or 4 homes in different inexpensive countries. That way I can furnish each place exactly how I want including 70"-80" tv sets 😊. And just move around to each one every few months and therefore never be a tax resident anywhere.
Very interesting and couldn’t help thinking James sounded a bit like Cliff Richard’s speaking voice. Haha. I think the points raised were valid and one would be optimistic to think they would make a big profit on selling. However the lifestyle in a good location is maybe more important than trying to become a mini tycoon with property. Thanks for the honesty and production. Cheers and khop khun krap. Merv Aussie
Great video Johnny. I am arriving in Phuket 5 Oct and will then be settling down in Hua Hin which is the best place to locate but will be renting long term. Renting is the only realistic option for the simple reason if the capital is invested wisely, over the long term the annual growth/income will more than pay the rent, plus you don't have your capital tied up on a hard to sell asset if your circumstances change. I hope one day soon to buy you a beer or two to thank you for all the amazing work you and Som have done for the local people.
Land ownership laws in Thailand prevent foreigners owning land,foreingers will often buy property in girlfriend/wife's name more often then not resulting in disaster.It should be part of the conversation.
I live in a gated community here in chon buri the houses for sale have been sitting here for years. My Thai wife owns the house here not far from Pattaya. Love the location.
I built a 3 bed 3 bath in Isaan when I retired 13 years ago, still love as much as when I first came over. Friends who bought in Pattaya but don't live here, can't sell. Told them to wait but they are typical 2 week millionaires and think they know it all.
I now agree that renting there is the way to go. Don't buy. Why buy. It's just a lot more practical. I did buy buy but looking back, I think it was the wrong choice. Just rent and save your money because your return on investment will be either extremely low or you will lose
Hi Jonny & James, Thanks for the great interview and honest opinion on buying property in Thailand been married to a beautiful Thai lady for over 26 years who I met on the Gold Coast in Queensland she was studying English we bought property in Thailand yes I would agree the capital gains are not there but if it’s your home and you intend to live in it especially growing old it not really a investment deal. The properties we have we have will look after my wife’s future when I am gone. Thais do not like buying second hand property or for that matter anything second hand. It’s a nice house James I would enjoy it. Getting closer to November can’t wait to get back to Hua Hin Keep up the great work Cheers Irish Paul
Hi Paul, I also bought land, in Hua Hin, as an investment not really more for when I’m gone, she’ll have somewhere to build. We’re sure are looking forward to a holiday there but it will be awhile with the restrictions, maybe next year if the airfares are reasonable, wishful thinking!
Lived in Thailand for parts of the '70's, '80's and '90's, totalling 14 years. Rented all the time. Most of the folk I know had real problems trying to sell when they moved back home. I would never buy in Thailand. However, I settled in another SE Asian country, where I have lived for 25 years and there I did buy property. Very much relates to personal circumstances and "different strokes for different folk".
@@marcopn1174 High asking prices will frighten potential buyers away. I never looked at buying property because I never intended to stay long term and was not interested in investing in property there.
Hi Jonny good video, but as a retired property value from Sydney, I would just like to reply to a comment you made at about 9 minutes 50 regarding capital gains tax, in particular for Aussies who have a property back in Australia. I would also assume that you wouldn't be aware of the recent change (1 July 2020) on the capital gains tax legislation for non-residents, i.e. expats who move here and have a property back in Australia. I will agree that the residential market in Australia is worth holding onto property if you can, but that is only if you can live there. You might ask what has this got to do with moving to Thailand, well, previous to this change in the capital gains tax legislation any capital gains tax on your property was taken from the date you left Australia to move to Thailand, so you would get a property value to provide with a property valuation stating what the property was worth as at that date, but now with the change, it goes all the way back to when you purchased it, yes, sounds crazy but it's true, so if you moved to Thailand in 2015 as I did, they don't want to know what the value was back then anymore to work out the capital gains tax, they go straight back to when you purchased it, so if you purchased it in the year 2000 for example, for $500,000, and you sold it in 2021 for $1.5 million when living in Thailand as a non resident, your capital gains tax will be assed on the million dollars of capital gains since the very first day your purchased it, and at the highest rate, which I believe to be 42%, so you would be up for $420,000 in capital gains tax. That said, if you look at how it was done the old way, i.e. you provided them with a valuation as at a the date you left the country, for example in 2015, and lets say that the property was worth $1 million, then you sold it for $1.5 million in 2021 from Thailand, your gain would be $500,000 and you would be taxed on the gain from when you left to when you sold it, not all the way back to when you purchased it as it had been since (1 July 2020). I know this is a bit long in the tooth, but am writing this to reach out to any Aussie's who might have missed the change in the legislation. It's not the end of the world, because I am sure if they moved back to Australia and lived in the property again, they could get a valuation from when they moved to Thailand and when they moved back into the property and they would then assess the capital gains tax for those periods, as opposed to going all the way back to when it was purchased which is just plan un-Australian. I would advise any of your viewers to talk to an accountant before selling their property if they live overseas and those who own a property and are thinking of moving to Thailand, because once their residency status changes to a non-resident, usually after 6 months the ball game changes, they can't even negatively gear their property, i.e. make any claim on repairs, council fees, agents fees etc and they will pay 32c for every $ earned from the property, not to mention land tax payable, so in my opinion as a retired property valuer and someone who used to hold investment properties in Australia, it is not worth it. With regard to the Hua Hin property, yes the market is down in Thailand, however what the owner has to understand is that he had I believe 7 years free rent at say 25,000 baht per month good and bad markets would come to about 1,700,000 baht or half of what he paid for it without the guest house and pool, so he would have to take that into consideration in a depressed market, that said, if he is not prepared to take a loss, not suggesting he does, then he should sit it out and or maybe rent it out. Having money in the bank today provides you with zero interest and if he owned property in the UK, I am sure he would also have capital gains tax to pay, maybe not as bad as the crooked politicians in Australia have made it, but there is the old saying of don't put all of your eggs in one basket, and you can't have your cake and eat it too, i.e. unless you do your due diligence. I built my place, out laid 10% of my worth and invested the rest in the stock market getting dividend and capital gains returns on my investments (tax free) so I have been living here for free since 2015. I also see the property that I built as rent money, i.e. not looking at getting the 10% outlay back, only investing as much as I am prepared to lose. I wish the owner all the best in selling his property for a price he is happy with when the market picks up post Covid, however he should seriously look at what the UK laws are if he intends on purchasing a property in the UK, and I say that because Australia is from my understanding the only country that punishes it's ex-pats like this, but am sure it is a money spinner for them and other countries might follow. Apologies for the long post, but if it reaches one person and saves them from paying unnecessary and unjust taxes then it's worth it.
Thanks for the post. I had no idea about the risks of owning a property in Australia . Government finds a way to make you as poor as possible as quickly as they can lol 😜
Wow, very long but valuable info and thanks for the detailed explanation. I'm in California so not applicable but worthwhile knowledge for our simular scenario. Buying doesn't seem too smart except as you presented, but did you get a loan for the 90% in Thailand? Or was that your Australian property? Here you have to consider the 5-6% RE commissions
@@Samthemancharles Your right, super long post...lol. No loans, sold up in Oz, 10% of worth in Thailand to build house, car, furniture etc, remaining 90% split in 2, half in stock market, other half in bank as a fall back position. The latter isn't really earning anything, but also good to have if stock market dives as that is a great time to buy and make money, as the pandemic has shown.
We've got a house in central Bangkok and we own 2 condos (a large old one we used to live in near Thong lor) and a small new build near Ekkamai. We've probably had tenants about 80% of the time in the large one but about 30% of the time in the small one so we decided to sell the small one, we listed it 500,000 under market value according to the municipal land tax value and despite that we haven't had any interest, the home will go up as it's in a good area and we're happy to keep the old one but the sheer amount of new builds means you won't be able to sell easily and you're going to have to take low rent if you want a tenant.
@@ralphynetau depends on the area, central Bangkok is obviously far more expensive, the old condos in that area are reasonable while the new condos which are smaller and made to a lower standard are way too expensive which is probably the reason many remain unsold.
If he had kept his money in the UK, especially Bournemouth, where I'm living myself! In the last 18 months he would have made a killing, as the price of property has gone completely silly! I'm afraid if he came back and he only had what he paid for his home in Thailand, to spend back in Bournemouth, he'd only be able to buy a small studio flat, and he need more money to update that!
After a year in Thailand, mentally you are not ready to return. Even if you are pissed, there’s no exception. Take a trip to Singapore, you wanna come back here. (Unfortunately now you can’t go.)
Thank you Jonny yet again a good vlog your train of thought is spot on leave your property back in your home land. It’s so easy to get a romantic notion but cold hard facts is profit profit profit enjoy the journey of life. Keep the vlogs coming my friend….. sky .
If your property is in Australia, you wouldn't want to own it as the legislation changed on 1 July 2019 which means if you live in Thailand as a non resident, the capital gains tax will be assessed from the day you purchased it, not the day you left the country, suffice to say taxed at the highest rate of 42%, so your profit would be halved by the time you take other costs into consideration, also noting you cannot ride off anything anymore (negative gearing) for foreigners, then you have land tax bills on top of your council rates, never ending and very un-Australian, let's not forget 32c in every $ also goes to tax from the rent. So it depends on what country you have a property in, what the legislation is and what if it also changes, no doubt other countries will follow Australia's lead as it's a money spinner and would have caught a few expats off gaurd.
When I first arrived in Thailand I was given sound advice two things not to do ! Don't buy a house or a bar ! If you want to make a small fortune in Thailand come with a BIG one ! I know of many who ignored that advice and are now broke .
I know a clown moved there about 12 years ago paid for a new salon to be built with a home above it no garden as it’s right in the town , got bored shitless pissed what he had left up the wall and now looks like a hobo without a pot to piss in ,, reckons he’s living the dream 😂😂
@@retiredpainter259 Unfortunately mate that is a commonn story ! I am surprised he still has a property ,she would normally take that as he is not allowed to own land ! Don;t get me wrong I think not allowing foreigners to own land is a good idea as it keeps the price of land within reach of the Thais .But idiots come here and end up broke because of the buying a house trap..70% or foreigners homeless and living on the streets here have been thrown out of their own homes !!
It’s very big for one one person . I have always rented abroad . Best to keep the money in your own country. Having said that he has saved 1m on renting do it’s not to bad .
Great interview, very nice place. If you are set for 20+ years probably nice to get your own place and spend the money and effort to make it yours. If you are undecided or want to be mobile then renting makes much more sense. It's got to be brutally hot in TH in the summer. That fact alone would make residing there not be an option for me.
I'm older than most of you guys and at 73 decided to leave Oz as it was clear even back then it wasn't the great place it once was. I researched and moved to the Philippines, mainly for the security of a lifetime visa. I bought into the Cebu condo market just before covid. Difficult to sell even if I had the title. The developer is very slow handing it over despite paying cash over 2 years ago. But they did say it can take a while. I still have around half my assets in Oz but slowly moving them here to Cebu. The big danger for someone my age is a sudden depreciation in exchange rate. We live in uncharted times. My main mistake was not renting for long enough after I moved here. I would have still bought but elsewhere. However I would probably be in an Aussie care home by now, but instead I have a filipina partner who invigorates me.
Thanks for the advice about renting for awhile. I'm an American and plan on moving to the Philippines myself in nine years when I'm about 62. I had a filipina girlfriend when I was a younger man, and I think they are one of the best type of women in the world. I know I probably won't run into my ex when I'm down there because I'm sure she'll still be in the USA, but maybe I'll get lucky and find a good women. Anyway, thanks for the advice.
@@JG-ke7gj The visa is known as the SRRV. It's better to google it as too complex to explain here. It's a special retirement visa that gives unlimited entry/exit to the Philippines and many other benefits. Once granted It's valid for life.
@@rodpettet2819 Thanks! I looked it up and it seems like a pretty sweet deal compared to what for example Thailand offers. I will definitely have to give this consideration as an option for retirement.
I keep it simple. The reciprocity approach. If I cannot have the same rights in their country as they enjoy residing inmine. I do not invest or expect any benefits.
In Thailand or somewhere in Asia, you will never have the same rights with their people there, when you buy stuff over there, they always charge you expensive than their own people.
Im a retiree...I love Thailand..the weather, culture and of cos food. Living here for the past 5 years ..in my opinion its better to rent then to buy mainly because of 1 reason..i dont want to be tie down by the property..I can practically move anywhere anytime...
Housing should never be viewed as an investment. If you buy a home and then sell it years later one should expect to just get your money back. The reason why in many countries housing is now out of reach for so many people because housing has become a speculative investment. Everybody who owns a home wants it to keep going up in value as an investment not a home. At some point in time that has to run out of steam.
Another good vlog....informative as always Johnny. Good to see James input on buying property , he is honest enough to say he is impulsive and maybe he should have took more time before purchasing . Still has a nice Villa there especially with that lovely pool. Nice outside area too. He is right about the shitty weather in the UK, give me Thailand any day of the Year . Many thanks to you and James .
Depends where and what you buy. Our beach front individual property has tripled in value since we bought in 2014, and built in 2016-18. Also you wouldn't buy a 4-bed pool villa in Bournmouth for £100k! As a property investor, I can assure you that letting a UK property is not plain sailing either.... Who would the money from a UK property benefit when you kick the bucket? At least you can rest easy knowing your wife is well provided for.
Where in Thailand did you buy any property , even beachfront anywhere in Thailand , that tripled in value ? I think you play with your appendage constantly !!!! Real estate has been descending for years long before Covid ! Ever since farangs started leaving Thailand
@@johnianson4249 Of course you know better??? I can tell from the tone of your comments, that you probably acquire your wisdom / knowledge on the edge of a bar stool, so I'll treat it with the contempt it deserves....
@@christurner3857 Aha no answer on where your fantasy triple-valueing property is either , funny that . Most probably bought the property with your beer goggles on !
@@Richard-et3cl Sexpat or not that's sound advice. Don't be a tool. Don't buy any property where you don't have permanent residency or you are unless you have citizenship. Coronavirus, tougher visa laws....anything can happen that can force you out the country.
@@samoday2992 i have been to a temple probably once, I am not the guy going to temple, but I am not the bitch walking around being like a 2 weeks millionaire, if I was that, I would probably shag bitches in UK Instead. Thaivisa forum members are trash, they believe bars are the highlight I Asia. I prefer to be single.
Great vlog. Yeh, I will definitely rent. One thing to ask is health insurance? Do you have to have it? What's the cheapest option if you have to have it.
I think some people of a certain age and with pre existing medical conditions won't be able to get any health insurance. Make sure you have a huge cash reserve for when things go wrong with your health.
I bought a condo in Chiang Mai to rent 7 years ago. I had made my money back in 5 years of renting. As an investment that gives monthly income, it's been a winner for me.
I bought one in Phuket and made no money off the rental, but sold it for a profit. Now a change of plans brings me back to Thailand and am looking to buy to live, so fingers crossed.
Very Good Jonny! James has a nice home there & I agree with everything you folks said.Really all property we buy we look at as an investment & in that case yes it is better buying in your home country as it appreciates rapidly, Thanks for a nice Vlog!
Very hard to own a house in your own name in Thailand. Many a Mr Muggins has put the house in his wife's name with predictable results. Not talking about this fine gentleman, I don't know his situation.
Just set up a company & put the property in that or lease it off you're wife for 30 years.But you have to pay tax when you have a company and property if its in you're wife's name you don't.
@@milvan6829 not me,I lived in Thailand for 20 years on and off.Married for 14 of them.I had an amazing time and was had over by the builders but still came out of it with my trousers on🤣
There is no such thing as rent free, we all pay for a roof over our heads whether one pays rent or buys property with money that could have been invested yielding a handsome return from which rent would be paid. My average annual ROI over the past 10 years is approx 25% which is conservative compared to friends who are far more aggressive investors than myself and have 10x over a 2 year period on their portfolio. Take the USD 200,000 James has invested in his property @25% ROI would yield USD 50,000 per annum from which he could rent a very nice property, have a nice profit after paying rent that would continue to earn more with compounding thru reinvestment, remain liquid at all timed and most importantly maintain his freedom of movement. Now we have a win win scenario versus money tied up in an asset that he cannot sell easily, possibly lose money due to a drop in the market price and deal with currency exchange risk. As one who has retired in Thailand my advice to long term expat residents... rent do not buy! Renting in Thailand is inexpensive and is someone else's headache.
@@milvan6829 No intention of ever selling, so looking forward to 20 years of not paying rent. Next door sold recently for more than I paid, so no loss if I do sell
Don't think it changed. Either this pad is considered a townhome/condo, or its under his Thai mistress name or held under some third party holding company.
@@rassyconkerhead5548 No. He said in the video he was married to a Thai. So as a married couple they can purchase property but it will be registered in her name and he may have got lawyers to do an arrangement to protect him in some way. He’s lived in the house for the past 6 years, so he’s genuinely living there. Old white guys need some protection too ya know, it’s probably his life savings (he said he was a trolley dolly).
@@akisgre-1716 - yes. From what I understand no single foreigner can have majority control of property. Example a 4 unit condo complex a foreigner can own one unit but not two as that would make him 50% owner
So nice to see you here James..that laid back vdo doesn t reflect what a nice English Gentleman you are …always in a good mood and friendly .. johnny forgot to mention about your high level of tennis 🎾 i wish i could be as fit as you are. DJS
@@Linz.Edward a return to 2008 , 2009 is something you dont want...when the US economy literally died for a couple of years...Nobody saw subprime , least of all the people in charge...I dont think that will happen this time , but the era of a private landlord is coming to an end
I built a house with my Thai wife 14 years ago at Payoon Beach....gated development...close to Ban Chang...thought I might retire there....but my soon to be EX Thai wife got catfished and walked away from our family in January...leaving me with our 17 year old daughter...she got scammed for about 50k on some military romance scam but won't admit it....and now I'm Fkkked on the house in Payoon Beach....probably have 11 million baht into it...
@@robkey69 since a thai descent can only own property. Why don't you put it in your daughter name or a very close child you trust. There are loop holes in this.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
Really helpful and honest interviewee. Really kind of him to be so open. It really helps people thinking of moving overseas.
Once I retired at 50 I travelled the World for 2 years then decided not to stay in one place for a long time. Rental is the way to go Nice house
I have been traveling and living in different countries for the past 7 years , think it is better to rent. I bought 1 in Spain and thank God I did not lose any money , always buy at your home country.
Good advice
Interesting, but I assume you have a home-base.
Travelled the world…probably just Thailand and SEA, lol.
That's a bad plan, own a few properties and by all mean travel the world while those properties are funded.
Thank you both, it’s good to have honest information about your experiences for others to learn from 🙏🏽
I would never buy anything in Thailand or elsewhere. It would ground me. No thanks. I would only rent. I need my freedom to go whenever I feel like it.
Shame on you , you must be enjoin yourself as homeless
Which city? I'm paying 13,000 baht but I have a very nice place.
@@andyfin990 In the middle of Chiangmai and it's probably one of the nicest condos here, but yes quite expensive by Thai standards.
To be honest I don't like Chiangmai, it's full of retired or just rich Western men that pay women to be their girlfriend (an allowance).
The women here have become entitled and just expect money now, Chiangmai is no longer a normal Thai city, it's more like Pattaya but instead of open prostitution it's 'rent a girlfriend' style prostitution. Can't wait to leave, I'm thinking any of the Thai cities that haven't been infested with farangs will still have some untainted women left.
@@andyfin990 Thanks Andy sounds awesome. I think you and I have an understanding of the topic I mentioned, and seems you've had the same insights as me albeit much earlier.
I was on a date with this 38yo Thai woman today, reasonably attractive, she was telling me how farang were approaching her offering 35,000 baht per week for 'rent a girlfriend'. But she's over her dating for money phase it seems, not sure if I should be happy or sad about that.
Any way we can get in touch? I bet you have some great stories to tell.
@@oliver-church 35,000 Baht per week and you believed her? One born every minute.
Thailand changed into the bad
It’s good for long term holiday specially in winter
Rent rent rent property
Never buy
My advise to foreigners
A motorcycle is ok for purchases
Easy to sell
But property is a different thing
@@AmericanInThailand even you guys are married to a thai chick forget it
But up to you guys
Its just my opinion and my advice.
So long
How for the bad? In what way?
What a nice, honest fella James is, thanks Jonny
What a thoroughly genuine and nice bloke your pal James is Jonny!👍 I found his comments and thoughts most interesting. As a fellow Englishman considering retirement myself and falling in love with Thailand, it’s my ‘number one’ on my very short list of retirement destinations. Thanks so much to James for taking the time to share his knowledge and experiences with us, I personally would be very pleased to see and hear more from him in the future on your channel.
Thanks guys..👍
Regards,
Dazza. 🇬🇧
I have always said rent rent rent if you are living overseas 🇬🇧
Yes bro specially in Asian countries where you cannot buy property on your name which is a biggest problem
I'm a 48yr ol' man wanting to try winter living in Thailand,can you give me any advice,I'm not super picky just like a basic pad wot kinda money for rent?
Never purchase property anywhere you do not have permanent residency rights. Laws regarding foreigners can and do change all over the world.
Thailand has been good about renewing retirement visas so far but that can change at any time leaving you unable to access .
Whether you rent or buy all depends on your situation, if you are happily married and intend on staying long term then buying is a good option as long as you don't rely on the properties appreciation to earn an income. I have owned three houses in Thailand and yes I had trouble selling two of them but I made a small return. As 99% of foreigners are with younger Thais I think its nice to leave some security for your partner when you go. I enjoying renovating and being able to create a luxurious home to live in, if you're going to be here for a long time renting can be a bit restrictive, I am constantly making upgrades that I could not do renting.
An extremely accurate and informative vlog. Lots of great points based on experience. Keep them coming.
Truly appreciate James's honesty and transparency into the reality of his choice.Thank you very much for these educational vlogs
Thanks ☺️😊
Dental and medical care in Thailand are top notch. I hope the country opens up again since it's a great source for health care as well as super nice people, great food and wonderful scenery!
How are they excellent? Thai has never been known to be medically advanced
Not true. Very poor medical. Dentists are only glorified tooth pullers!
I had heart stents fitted in Thailand and also in the UK. No comparison, Thailand was far superior.
@@JazzFunkNobby1964 How was the price compared to your home country ? I had stents fitted in Australia ! Some people commenting on here live on a different planet and I am thinking Uranus !!!!!!
@@JazzFunkNobby1964 Good to hear! My neighbor had a total hip replacement in Thailand for $18k total and that included the two surgeon's fees and rehab there. he has done really well. In USA the lowest hospital quote was $48,000 and surgeon's fees $12,000. Same comparative savings for dental care. the Chief of my local dental school was trained in Thailand and she suggests going there and pay 1/5th or less for equal if not better dental care for everything from root canals to implants to dentures. I hope they open soon.
He seems like a really enjoyable guy to be around. Nice interview
Thailand is a renting country not a buying one in my opinion. Once you get bored with your home/Condo you can find plenty of better alternatives.
Applys to women as well
@@ianstewart119 OH. MY. GOD. 🤣👍🏻
@@ianstewart119 yes so true
It's a beautiful house, I love the pool in the back yard.
That was a honest opinion with little regrets. Thank you for your frank opinion.
Thanks Jonny and James for being so open about home ownership tbh it’s not for everyone particularly if you are looking for a return on your investment, for most of us it represents an opportunity to buy or rent a place in a sunny, beautiful country, take care gentlemen and be safe!✌🏼🏴⚽️
Good for you!
Great interview fellas, I appreciate the information. I love Hua Hin, what a marvelous town! You gentlemen are the best! Johnny, you did just fine! Hindsight is always 20/20. Don't have any regrets, you're in paradise!
Great interview, Jonny. Very honest and informative!
Panama relocation tours!!
I was surprised when I heard them complaining about UK weather, compared to Jonny soaking through his clothes here.
I really enjoyed this video. I was surprised to learn that water & electricity bills are somewhat similar here in Kuala Lumpur!
He was brave to risk buying in a foreign country like that though.
I felt like his home was beautiful! And super comfy! That pool & guest bungalow is a dream! The shock to my system is that 5Million baht is a ridiculously cheap RM620,000 in Malaysian currency for what amounts to a semi-detached house WITH a pool!
He's got quite a lot of comfy bang for his buck for that amount!
Oh and by the way, there's a WEALTH of information, hard won knowledge & experience down here in the comments! Thanks all you guys!
this house is located in Hua Hin province, so yes it will be cheaper than in Bangkok, Pattaya, Chiangmai or Phuket. the price could go high as 15+++million thb for a house with a pool in more populated province
The kitchen is way to small for that house. A total bummer.
Great commentary lads!.. unbiased opinions and personal thoughts.. very much appreciated.. top stuff.!brilliant.
Hi Johnny
Good video mate.
I first arrived in Thailand 46 years ago at the age of 25. Over the years I've lived permanently for 36 years so I've gained what I believe is a good insite into the country and the wonderful Thai people. I speak fluent Thai which of course has enabled me to gain an in-depth knowledge of the people and Thai culture.
A few questions about how he managed to own the house and land?
You didn't ask who's name the house is in or if he had a long term lease or has it in a company name. The latter is fraught with danger these days as a few years ago the Thai government started to crack down on foriegners forming companies to buy houses.
He is married so is it in his partners name? That can also be fraught with danger as I'm sure you're aware.
I've been married twice to Thai ladies and have 3 great children all grown up of course.
In the old days ( mid 70s ) Thai women were so lovely ( and still are today ) although the subject of buying land and building a house for them was never brought up.
There's been an over supply of houses, condos etc for many years already, long before Covid came along. One only has to look around whereever you are in Thailand to see empty houses in housing estates and condos empty and for sale everywhere.
Renting is the only smart way to go as you both agreed in the vlog.
I'm at present stuck in Adelaide due to COVID-19. When I return to Khon Kaen ( after quarantine only ) I'll move back into my old apartment which sets me back 3000 thousand baht a month inclusive of rent, electric and water. An older block so it's a big room with a balcony and a great view as it's an end room overlooking some empty land and the city downtown skyline. Prior to the apartment I rented a stand alone 3 bedroom 2 bathroom furnished house for 6K a month.
I'll be interested to hear how he set up the ownership of his house?
I've seen so many Farangs arrive in Thailand who are extremely naive and gullible and enter into relationships buying property in their partners names.
It does work sometimes and I have friends who've been happily married for 30 years or more but they are few and far between.
When I meet foriegners and tell them I've been living in Thailand so long they usually ask. What would you suggest we do to make life easier living here? My answers always the same. Learn to speak the language. Very few ever make the effort.
I'll be interested to hear the answers to my questions Johnny.
Keep up the good work.
I have an Aussie mate living in Hua Hin and I'll be visiting him and his family when I return. Maybe we could catch up for a drink
Gray
great sharing
21 years here. Married to a Thai and a daughter special needs. 4 bedroom 3 bathroom house …rented this for 10 years. 10,000 baht a month 2 year rolling.
Nobody has ever talked me out of renting. We’ve made it our home. My wife recently said maybe we should get discount rent for repairs . I said go outside and look what we have. It’s wonderful in Chiang Mai…….don’t buy here always rent
@@JJI685 it takes a wise man a long time to contemplate options in life. Impetuosity is a curse.
@Alexander well I appreciate it Alex
@Alexander perhaps Alex, you obviously know as well as I do, never predict Thailand. I’m thinking of starting a school in Chiang Mai …….all I teach will be common sense. What do you think? because as far as I’m aware, it’s escaped the world momentarily.
extremely helpful info.. always better to rent 3-6 months before buying in unchartered territory. weigh out the trade offs.
James knows the colours shirt to wear when its really hot and humid
I think I met James 2 years ago with Steve, at The Precious, where I was living. I did bump into you to Jonny! Great to see you are both well in HH
Admire his honesty. Most people that buy and regret will never admit they made a mistake. Kudos for being honest. Don't know why anyone would buy in Thailand. Rent until you determine if you can really take this type of environment.
Great vid Jonny, good honest advice that I agree with. I built in Nongkhai 2011. Wife and I stuck in Sydney atm and hopefully back to Issan soon. We are lucky enough to be able to go back and forth. ( when no covid) My advice is never cash in property in you home land. No regrets on what I spent in thailand which I thinking is about 6 mil bt.maybe more. That’s big house, furniture and a new D max plus motor bikes and a Tuk Tuk to play with. I say only invest in thailand what you are prepared to lose. Also the old saying is “you can’t take it with you” If you love Thai life style then just do it but it’s not a place where your investment grows.Cheers
I have no desire to buy property in BKK (foreign land), I put my money in Index Funds, collecting earning from my investment and use it to paying rent in Thailand-rent is cheap. I don’t see myself in one property for 5-10 years especially in Thailand. Retirement is about being flexibility, if your circumstance change you can pick up and leave, then being stuck with a property you can’t sell. I have met a lot of expats just like him, regretting putting 3-10 millions baht and stuck with a property and can’t sell.
Ya you def need to be flexible in a foreign country
Great video Johnny, I was born and raised in the UK and I live with my wife who's from Thailand and we have decided to retire in the next 7 years to Thailand and as James said the biggest reasons are the weather and the cost of living, my pension will go a long way and I won't have to worry about the extortionate council tax and utilities that I currently pay. Living in the UK is an absolute rip off especially for the elderly, the only good thing is the healthcare but who knows whats gonna happen with that as the government wants to privatise the NHS.
Healthcare in Thailand is better than UK, I am from Norway, I have never received healthcare better than Thailand no were else in the world, no need for appointment and all that if something not good happens.
No but you will have to worry about large medical bills instead, eg 500 quid for an MRI
@@Richard-et3cl No it's no better and surgery and cancer care can cost millions of Baht, seeing a Dr is cheap, that's all that is.
@@clivebaxter6354 I agree with you mate but as long as you have a decent health insurance cover it should be fine.
@@AzShahid-allthingsThai Health cover at my age would be about 100k baht a year and after 75 (when you need it) totally unaffordable
This is the best video I've seen on buy vs. rent. So if I am understanding correctly (1) Don't sell your property back home to buy in Thailand, but rent back home and then use the rent to rent in Thailand. (2) Selling is more difficult than in the west which can be a problem if your neighbours are nasty. In my own situation I don't own back home so this might not apply to me so i will continue to research. How is it you bought a house/land i didn't think foreigners could do that. Beautiful house BTW.
If a foreigner is married to a Thai, she by law is 100% owner...
Farang cannot buy land, but farang can buy condo as long as condo NOT on ground floor.
I have a fundamental issue of sinking a large amount of money into property anywhere where I don't have iron clad ownership or I don't have iron clad residency. In retirement since I'm not too keen on being a landlord I would invest in a Real Estate Investment Trust if I wanted exposure to real estate in my portfolio and then rent wherever I my travels take me.
@@ariefraiser140 Residency is IMPOSSIBLE for Westerners in Thailand and OWNERSHIP of real property is ILLEGAL. Stick to your REITs but don't buy into a REIT that invests in American strip malls, okay? lol
@@guymandudely324 LOL
This is the video to watch contemplating purchasing housing in Thailand. Jonny and James provided remarkable transparency and excellent FAQ. All fairness to James not capturing higher quality capital gains was hindsight. Safe Travels!
I can't really see what the problem is.
He's living in a great house with a grannie annex, swimming pool in a great area according to him.
In London you would be iooking at half a million quid for a one bedroom flat + service charges + council tax + parking charges + ULEZ charges for a 99 or 125 year lease.
Why he feels hard done by I have no idea for £100k he has what most people would give their eye teeth for other than if he bought to make money out of it.
He needs to consider the fact he's lived rent free for 6 years and he has something to sell if he wants, seems to be worried about recovering the money he outlayed and the fact it hasn't kept up with UK, OZ or other markets.
Look at it this way 100k divided by 30 year lease = 3.3k per year divided by 52 = 63 pounds per week when converted works out to less than 12,000b per month excluding running costs.
I only see a problem if you don't want to retire and live permanently in the country.
🇨🇮☘️🙂 but then I'm only a thick Irishman.
I'm sure you are not a "thick Irishman". Although I've met one or two in Pattaya. LOL. It's more that if he wanted to move he may NEVER be able to sell it. Most properties can't even be given away in Thailand. There's a 100 selling to every 1 buyer. So recovering a fraction of what he paid for it, may not even be an option. Even more so in Covid times and in the future now. Like they said, if you have noisy neighbours, or dogs, or run into other problems, you can't move, and no one is gong to help you with your problems, especially if your neighbours are Thai. Many Thais wont buy an old property incase someone has died there and it's haunted. YEP ! For people who have money to burn (throw away), buying your own property is awesome, as who doesn't want to live in a place that you can do what you want with and call your own. But for people that are using their retirement money, NO WAY. Keep your money in your own country and bring over what you need each month ! I've live here a long time, and this is JUST MY OPINION. ;-)
@@jessemrk It's still a very inexpensive, lovely living space in Hua Hin ; also remember , it's CV19 time ; wait till all things CV19 settle down ; he also notes as an afterthought that he could rent it annually for a considerable sum
Altogether, its a delightful place to live for a modest outlay
@@jessemrk Thanks Mark,
If he can not recover his money through a sale perhaps renting it out long term might do so or he could rent out either the main house or annex for additional income.
Myself I agree with his coming to the conclusion of should have rented.
regards
@@jessemrk exactly. Ever notice how Chinese, Brazilians, Russians, Mexicans, Taiwanese and so many others send their kids abroad for education. invest their excess cash in the U.S.. U.K real estate and try to get residency cards, Etc ? They know their own economies, currencies and governments are weak. Don’t shoot at juicy targets from far; keep your powder dry in your home arsenal if you are from Eurozone, U.S., Canada, N.Z. or Australia.
100% agree
James...from a fellow flight attendant for United Airlines, thanks for all the great info! I think I'll take your advice and just rent for now.
Informed choice is the key
@Duncan Donut Donut hi scott from New Zealand do you recommend to rent a condo or buy like to live in udon thani or hue hin and would 18 million baht with pension be enough to survive thank you for your advice from Scott new Zealand
@Duncan Donut Donut pension about 1500 month single man but like the girls there Thailand with 18 million baht from Scott new Zealand
@Duncan Donut Donut no Duncan want 10. 000baht condo with pension and 18 million baht savings single man from Scott new Zealand
@Duncan Donut Donut sorry Duncan don't understand you your answer from Scott new Zealand
What would possess anyone to buy a condo in Thailand when you can just rent from AirBnB and have the flexibility of uprooting without all the headaches that go with trying to resell?
@travel with tony What would posses someone to have a RUclips account named "travel with tony" with absolutely no content?
Maybe he planned to live there forever.
@@satsumamoon
He’s trying to offload it..at a loss, so obviously he never intended on living there permanently.
Pay attention sleepy head. 😆
I hate people being rude to me for no good reason. it makes me feel so bad especially these days having lost my son and my job in one year. That and my husband being a right ****. Cheers mate.
Bought my condo 10years ago in bkk. Same size condo my building is going for double the price that’s thonglor
It looks like a beautiful home. The same property would cost an arm and a leg in the UK. You did the right thing.
Likewise in the US.
I was surprised to see a Hollister California shirt , I used to ride dirt bikes there back in the day.
It's a very popular brand in the UK amongst the 'chavs'
Jonny and James, great video. James is 100% correct. If you buy here, it's a lifestyle decision. In all likelihood, your property will depreciate in value. I live in a in a prime Bangkok location. Recently, I looked at a unit for sale. After only 4 years, it looks very 'second hand', and the outside of the building already looks tired. Interestingly, the Thai owners are asking significantly less than they paid 4 years ago.They overpaid on purchase and now face the problem of selling a second hand apartment. As James said, Thais have a cultural aversion to buying a used condo/house. Also, Thai banks offer lower LTVs for second hand units. Another issue for retirees is settling their will when their date with destiny arrives.
we live in a crap hole and the houses 10 years old sell for about 25% more than when new.
Thais will buy second hand and have no problems doing so . The problem is the banks are much stricter lending for a second hand house .
@@samoday2992 True, but the Chinese don't have that problem they bought a few houses up near us and 100 mil on some land, they get round all the laws!
frequent flooding damages the foundation of houses and cause the condition of the house to look worn out in short period.
@@clivebaxter6354 The Chinese have done what this here chap James has done. There's no difference.
I like the idea of owning 3 or 4 homes in different inexpensive countries. That way I can furnish each place exactly how I want including 70"-80" tv sets 😊. And just move around to each one every few months and therefore never be a tax resident anywhere.
Very interesting and couldn’t help thinking James sounded a bit like Cliff Richard’s speaking voice. Haha. I think the points raised were valid and one would be optimistic to think they would make a big profit on selling. However the lifestyle in a good location is maybe more important than trying to become a mini tycoon with property. Thanks for the honesty and production. Cheers and khop khun krap. Merv Aussie
I thought the same thing about him sounding like Cliff Richard!!
5 million divided by exchange rate .at what today 32.5 usd. =160,000 for that wonderful place. come on you are blessed 10 fold.
Great video Johnny. I am arriving in Phuket 5 Oct and will then be settling down in Hua Hin which is the best place to locate but will be renting long term. Renting is the only realistic option for the simple reason if the capital is invested wisely, over the long term the annual growth/income will more than pay the rent, plus you don't have your capital tied up on a hard to sell asset if your circumstances change. I hope one day soon to buy you a beer or two to thank you for all the amazing work you and Som have done for the local people.
This is a very good interview great information 👍🦘🇦🇺
Land ownership laws in Thailand prevent foreigners owning land,foreingers will often buy property in girlfriend/wife's name more often then not resulting in disaster.It should be part of the conversation.
And yet other countries will allow foreigners to buy property in that country as in New Zealand, if I could not buy the land forget it
@@merledoughty5787 mostou european allowed foriegner
@@randomworld4662 yes but not China and Asian countries okay yet Chinese can buy huge trcts of country in mine okay
Most asian countries don't allow foreigners to purchase land . Correct me if I'm wrong
What would be the disaster?
I live in a gated community here in chon buri the houses for sale have been sitting here for years. My Thai wife owns the house here not far from Pattaya.
Love the location.
I built a 3 bed 3 bath in Isaan when I retired 13 years ago, still love as much as when I first came over.
Friends who bought in Pattaya but don't live here, can't sell.
Told them to wait but they are typical 2 week millionaires and think they know it all.
James looks like a great guy very polite and well spoken 😀
Well . It's his job. that's it ...darling🤭
Now is a great time to buy in my opinion. I paid 2.5million for my 3 bed pool villa just outside Hua-Hin. And bad neighbours can be anywhere.
Very good!!very good!! video Jhonny. I rarely comment your videos because I watched them on TV but I always hit the like 👍.
I now agree that renting there is the way to go. Don't buy. Why buy. It's just a lot more practical. I did buy buy but looking back, I think it was the wrong choice. Just rent and save your money because your return on investment will be either extremely low or you will lose
I have spent the same buying over 10 years as I would have wasted renting
You guys are confusing inflation for appreciation when you're talking about USA or UK home prices. But I respect your contributions otherwise
Everything inflates over time. Milk was 12 cents in 1978. It’s not going back.
Hi Jonny & James, Thanks for the great interview and honest opinion on buying property in Thailand been married to a beautiful Thai lady for over 26 years who I met on the Gold Coast in Queensland she was studying English we bought property in Thailand yes I would agree the capital gains are not there but if it’s your home and you intend to live in it especially growing old it not really a investment deal. The properties we have we have will look after my wife’s future when I am gone. Thais do not like buying second hand property or for that matter anything second hand. It’s a nice house James I would enjoy it.
Getting closer to November can’t wait to get back to Hua Hin Keep up the great work Cheers Irish Paul
Hi Paul, I also bought land, in Hua Hin, as an investment not really more for when I’m gone, she’ll have somewhere to build. We’re sure are looking forward to a holiday there but it will be awhile with the restrictions, maybe next year if the airfares are reasonable, wishful thinking!
Great video! Love your stuff
Leave your money and property in your home country and rent when you travel and live in other country. I have done both myself for past 7 years.
Lived in Thailand for parts of the '70's, '80's and '90's, totalling 14 years. Rented all the time. Most of the folk I know had real problems trying to sell when they moved back home. I would never buy in Thailand. However, I settled in another SE Asian country, where I have lived for 25 years and there I did buy property. Very much relates to personal circumstances and "different strokes for different folk".
It is so miserable to have a wrong neighbor.
@@lilacnpink3864 True. That's applies anywhere.
Which country?
The problem is that people here don't bargain. And as the asking prices are 30-40% above the market value, it's of course hard to sell it again.
@@marcopn1174 High asking prices will frighten potential buyers away. I never looked at buying property because I never intended to stay long term and was not interested in investing in property there.
Hi Jonny good video, but as a retired property value from Sydney, I would just like to reply to a comment you made at about 9 minutes 50 regarding capital gains tax, in particular for Aussies who have a property back in Australia. I would also assume that you wouldn't be aware of the recent change (1 July 2020) on the capital gains tax legislation for non-residents, i.e. expats who move here and have a property back in Australia.
I will agree that the residential market in Australia is worth holding onto property if you can, but that is only if you can live there.
You might ask what has this got to do with moving to Thailand, well, previous to this change in the capital gains tax legislation any capital gains tax on your property was taken from the date you left Australia to move to Thailand, so you would get a property value to provide with a property valuation stating what the property was worth as at that date, but now with the change, it goes all the way back to when you purchased it, yes, sounds crazy but it's true, so if you moved to Thailand in 2015 as I did, they don't want to know what the value was back then anymore to work out the capital gains tax, they go straight back to when you purchased it, so if you purchased it in the year 2000 for example, for $500,000, and you sold it in 2021 for $1.5 million when living in Thailand as a non resident, your capital gains tax will be assed on the million dollars of capital gains since the very first day your purchased it, and at the highest rate, which I believe to be 42%, so you would be up for $420,000 in capital gains tax.
That said, if you look at how it was done the old way, i.e. you provided them with a valuation as at a the date you left the country, for example in 2015, and lets say that the property was worth $1 million, then you sold it for $1.5 million in 2021 from Thailand, your gain would be $500,000 and you would be taxed on the gain from when you left to when you sold it, not all the way back to when you purchased it as it had been since (1 July 2020).
I know this is a bit long in the tooth, but am writing this to reach out to any Aussie's who might have missed the change in the legislation. It's not the end of the world, because I am sure if they moved back to Australia and lived in the property again, they could get a valuation from when they moved to Thailand and when they moved back into the property and they would then assess the capital gains tax for those periods, as opposed to going all the way back to when it was purchased which is just plan un-Australian.
I would advise any of your viewers to talk to an accountant before selling their property if they live overseas and those who own a property and are thinking of moving to Thailand, because once their residency status changes to a non-resident, usually after 6 months the ball game changes, they can't even negatively gear their property, i.e. make any claim on repairs, council fees, agents fees etc and they will pay 32c for every $ earned from the property, not to mention land tax payable, so in my opinion as a retired property valuer and someone who used to hold investment properties in Australia, it is not worth it.
With regard to the Hua Hin property, yes the market is down in Thailand, however what the owner has to understand is that he had I believe 7 years free rent at say 25,000 baht per month good and bad markets would come to about 1,700,000 baht or half of what he paid for it without the guest house and pool, so he would have to take that into consideration in a depressed market, that said, if he is not prepared to take a loss, not suggesting he does, then he should sit it out and or maybe rent it out. Having money in the bank today provides you with zero interest and if he owned property in the UK, I am sure he would also have capital gains tax to pay, maybe not as bad as the crooked politicians in Australia have made it, but there is the old saying of don't put all of your eggs in one basket, and you can't have your cake and eat it too, i.e. unless you do your due diligence.
I built my place, out laid 10% of my worth and invested the rest in the stock market getting dividend and capital gains returns on my investments (tax free) so I have been living here for free since 2015. I also see the property that I built as rent money, i.e. not looking at getting the 10% outlay back, only investing as much as I am prepared to lose.
I wish the owner all the best in selling his property for a price he is happy with when the market picks up post Covid, however he should seriously look at what the UK laws are if he intends on purchasing a property in the UK, and I say that because Australia is from my understanding the only country that punishes it's ex-pats like this, but am sure it is a money spinner for them and other countries might follow. Apologies for the long post, but if it reaches one person and saves them from paying unnecessary and unjust taxes then it's worth it.
long read but interesting.
@@LulaJake Agree, however when you want to get a message of such importance out there, best to do it without leaving anything out in my opinion.
Thanks for the post. I had no idea about the risks of owning a property in Australia . Government finds a way to make you as poor as possible as quickly as they can lol 😜
Wow, very long but valuable info and thanks for the detailed explanation.
I'm in California so not applicable but worthwhile knowledge for our simular scenario.
Buying doesn't seem too smart except as you presented, but did you get a loan for the 90% in Thailand?
Or was that your Australian property? Here you have to consider the 5-6% RE commissions
@@Samthemancharles Your right, super long post...lol. No loans, sold up in Oz, 10% of worth in Thailand to build house, car, furniture etc, remaining 90% split in 2, half in stock market, other half in bank as a fall back position. The latter isn't really earning anything, but also good to have if stock market dives as that is a great time to buy and make money, as the pandemic has shown.
Good vid Jonny. Answered some questions we all wonder about.
Bought 4 1/2 lye farm that I do permaculture fruit veggies on.
Almost 5 yrs and no regretes yet.
You bought it but who owns it?
Great video and good information. Thank you for sharing your videos
We've got a house in central Bangkok and we own 2 condos (a large old one we used to live in near Thong lor) and a small new build near Ekkamai. We've probably had tenants about 80% of the time in the large one but about 30% of the time in the small one so we decided to sell the small one, we listed it 500,000 under market value according to the municipal land tax value and despite that we haven't had any interest, the home will go up as it's in a good area and we're happy to keep the old one but the sheer amount of new builds means you won't be able to sell easily and you're going to have to take low rent if you want a tenant.
What is price for large condo and house
@@ralphynetau depends on the area, central Bangkok is obviously far more expensive, the old condos in that area are reasonable while the new condos which are smaller and made to a lower standard are way too expensive which is probably the reason many remain unsold.
Great interview keep doing what your doing producing great content about Thailand I love Koh Samui
Thanks Jonny great video. Thank you James for sharing your home with us. All the best. Mitch 🙏
Thanks Mitch ,welcome aboard now turn left
@@jamesl9649 not sure what turn left means but I can be a bit slow at times 😂
@@jonnyasia damn I'm thick 🤣🤣 Hua Hin is on my short list. I will be that down that way pretty soon. In Thai time a month +or-. 😁
Thanks for the latest video Jonny. I really enjoyed that buddy.
If he had kept his money in the UK, especially Bournemouth, where I'm living myself! In the last 18 months he would have made a killing, as the price of property has gone completely silly! I'm afraid if he came back and he only had what he paid for his home in Thailand, to spend back in Bournemouth, he'd only be able to buy a small studio flat, and he need more money to update that!
After a year in Thailand, mentally you are not ready to return.
Even if you are pissed, there’s no exception.
Take a trip to Singapore, you wanna come back here. (Unfortunately now you can’t go.)
Thank you Jonny yet again a good vlog your train of thought is spot on leave your property
back in your home land.
It’s so easy to get a romantic notion but cold hard facts is profit profit profit enjoy the journey of life.
Keep the vlogs coming my friend….. sky
.
If your property is in Australia, you wouldn't want to own it as the legislation changed on 1 July 2019 which means if you live in Thailand as a non resident, the capital gains tax will be assessed from the day you purchased it, not the day you left the country, suffice to say taxed at the highest rate of 42%, so your profit would be halved by the time you take other costs into consideration, also noting you cannot ride off anything anymore (negative gearing) for foreigners, then you have land tax bills on top of your council rates, never ending and very un-Australian, let's not forget 32c in every $ also goes to tax from the rent. So it depends on what country you have a property in, what the legislation is and what if it also changes, no doubt other countries will follow Australia's lead as it's a money spinner and would have caught a few expats off gaurd.
When I first arrived in Thailand I was given sound advice two things not to do ! Don't buy a house or a bar ! If you want to make a small fortune in Thailand come with a BIG one ! I know of many who ignored that advice and are now broke .
I know a clown moved there about 12 years ago paid for a new salon to be built with a home above it no garden as it’s right in the town , got bored shitless pissed what he had left up the wall and now looks like a hobo without a pot to piss in ,, reckons he’s living the dream 😂😂
@@retiredpainter259 Unfortunately mate that is a commonn story ! I am surprised he still has a property ,she would normally take that as he is not allowed to own land ! Don;t get me wrong I think not allowing foreigners to own land is a good idea as it keeps the price of land within reach of the Thais .But idiots come here and end up broke because of the buying a house trap..70% or foreigners homeless and living on the streets here have been thrown out of their own homes !!
Thanks for this Vlog guys great to get some first hand experiences
I think that's was great insight on how you would feel before and after, I also think it's best to always rent.
It’s very big for one one person .
I have always rented abroad . Best to keep the money in your own country. Having said that he has saved 1m on renting do it’s not to bad .
Great interview, very nice place. If you are set for 20+ years probably nice to get your own place and spend the money and effort to make it yours. If you are undecided or want to be mobile then renting makes much more sense.
It's got to be brutally hot in TH in the summer. That fact alone would make residing there not be an option for me.
Great vlog Johnny……and hanks for showing us your property with us James! It’s beautiful & love the pool:)
I'm older than most of you guys and at 73 decided to leave Oz as it was clear even back then it wasn't the great place it once was. I researched and moved to the Philippines, mainly for the security of a lifetime visa. I bought into the Cebu condo market just before covid. Difficult to sell even if I had the title. The developer is very slow handing it over despite paying cash over 2 years ago. But they did say it can take a while.
I still have around half my assets in Oz but slowly moving them here to Cebu. The big danger for someone my age is a sudden depreciation in exchange rate. We live in uncharted times. My main mistake was not renting for long enough after I moved here. I would have still bought but elsewhere. However I would probably be in an Aussie care home by now, but instead I have a filipina partner who invigorates me.
What does it take to get a lifetime visa?
Thanks for the advice about renting for awhile. I'm an American and plan on moving to the Philippines myself in nine years when I'm about 62. I had a filipina girlfriend when I was a younger man, and I think they are one of the best type of women in the world. I know I probably won't run into my ex when I'm down there because I'm sure she'll still be in the USA, but maybe I'll get lucky and find a good women. Anyway, thanks for the advice.
Good luck and many more years of invigorating
@@JG-ke7gj The visa is known as the SRRV. It's better to google it as too complex to explain here. It's a special retirement visa that gives unlimited entry/exit to the Philippines and many other benefits. Once granted It's valid for life.
@@rodpettet2819 Thanks! I looked it up and it seems like a pretty sweet deal compared to what for example Thailand offers. I will definitely have to give this consideration as an option for retirement.
Excellent advice. Property is beautiful. Thanks again for sharing.😎
I keep it simple. The reciprocity approach. If I cannot have the same rights in their country as they enjoy residing inmine. I do not invest or expect any benefits.
In Thailand or somewhere in Asia, you will never have the same rights with their people there, when you buy stuff over there, they always charge you expensive than their own people.
@@kimyous9348 and for that same reason I grant them less respect.
@@eigobike3929 Do slimy, sex tourist filth deserve respect?
Very interesting… Thank you for your honesty
Im a retiree...I love Thailand..the weather, culture and of cos food. Living here for the past 5 years ..in my opinion its better to rent then to buy mainly because of 1 reason..i dont want to be tie down by the property..I can practically move anywhere anytime...
Housing should never be viewed as an investment. If you buy a home and then sell it years later one should expect to just get your money back. The reason why in many countries housing is now out of reach for so many people because housing has become a speculative investment. Everybody who owns a home wants it to keep going up in value as an investment not a home. At some point in time that has to run out of steam.
Another good vlog....informative as always Johnny. Good to see James input on buying property , he is honest enough to say he is impulsive and maybe he should have took more time before purchasing . Still has a nice Villa there especially with that lovely pool. Nice outside area too. He is right about the shitty weather in the UK, give me Thailand any day of the Year . Many thanks to you and James .
Depends where and what you buy. Our beach front individual property has tripled in value since we bought in 2014, and built in 2016-18.
Also you wouldn't buy a 4-bed pool villa in Bournmouth for £100k! As a property investor, I can assure you that letting a UK property is not plain sailing either....
Who would the money from a UK property benefit when you kick the bucket? At least you can rest easy knowing your wife is well provided for.
Where in Thailand did you buy any property , even beachfront anywhere in Thailand , that tripled in value ? I think you play with your appendage constantly !!!! Real estate has been descending for years long before Covid ! Ever since farangs started leaving Thailand
@@johnianson4249
Of course you know better???
I can tell from the tone of your comments, that you probably acquire your wisdom / knowledge on the edge of a bar stool, so I'll treat it with the contempt it deserves....
@@christurner3857 Aha no answer on where your fantasy triple-valueing property is either , funny that . Most probably bought the property with your beer goggles on !
Buying any item in Thailand--or elsewhere-- that you cannot walk away from is sheer lunacy. Rent, don't buy! Same deal with the girls...
P
Of course people will listen to sexpat like you.. stuck in Pattaya you fool
@@Richard-et3cl says a septic living in Thailand because he loves the temples and cuisine ….
@@Richard-et3cl Sexpat or not that's sound advice. Don't be a tool. Don't buy any property where you don't have permanent residency or you are unless you have citizenship. Coronavirus, tougher visa laws....anything can happen that can force you out the country.
@@samoday2992 i have been to a temple probably once, I am not the guy going to temple, but I am not the bitch walking around being like a 2 weeks millionaire, if I was that, I would probably shag bitches in UK Instead. Thaivisa forum members are trash, they believe bars are the highlight I Asia. I prefer to be single.
Great vlog. Yeh, I will definitely rent. One thing to ask is health insurance? Do you have to have it? What's the cheapest option if you have to have it.
I think some people of a certain age and with pre existing medical conditions won't be able to get any health insurance. Make sure you have a huge cash reserve for when things go wrong with your health.
What about safety from break-ins and robbery when living in your own house?
Great job jonny good information and interesting
I bought a condo in Chiang Mai to rent 7 years ago. I had made my money back in 5 years of renting. As an investment that gives monthly income, it's been a winner for me.
I bought one in Phuket and made no money off the rental, but sold it for a profit. Now a change of plans brings me back to Thailand and am looking to buy to live, so fingers crossed.
7 years ago vs now and 7 years forward. ..night and day...you got lucky
Very Good Jonny! James has a nice home there & I agree with everything you folks said.Really all property we buy we look at as an investment & in that case yes it is better buying in your home country as it appreciates rapidly, Thanks for a nice Vlog!
Great interview Jonny with a top notch bloke well done
Really nice house. Looks like paradise with the pool and outside hang out area.
Even if it is not the best investment it is absolutely lovely.
Very hard to own a house in your own name in Thailand. Many a Mr Muggins has put the house in his wife's name with predictable results. Not talking about this fine gentleman, I don't know his situation.
Just set up a company & put the property in that or lease it off you're wife for 30 years.But you have to pay tax when you have a company and property if its in you're wife's name you don't.
@@johnchandler6474 but run a chance of ending up on the pavement seating on your empty suitcase! I have seen it many times!
@@milvan6829 not me,I lived in Thailand for 20 years on and off.Married for 14 of them.I had an amazing time and was had over by the builders but still came out of it with my trousers on🤣
I bought a place 8 years ago, I have already saved 70% of the purchase price, because I haven't paid rent for 8 years.
There is no such thing as rent free, we all pay for a roof over our heads whether one pays rent or buys property with money that could have been invested yielding a handsome return from which rent would be paid. My average annual ROI over the past 10 years is approx 25% which is conservative compared to friends who are far more aggressive investors than myself and have 10x over a 2 year period on their portfolio. Take the USD 200,000 James has invested in his property @25% ROI would yield USD 50,000 per annum from which he could rent a very nice property, have a nice profit after paying rent that would continue to earn more with compounding thru reinvestment, remain liquid at all timed and most importantly maintain his freedom of movement. Now we have a win win scenario versus money tied up in an asset that he cannot sell easily, possibly lose money due to a drop in the market price and deal with currency exchange risk. As one who has retired in Thailand my advice to long term expat residents... rent do not buy! Renting in Thailand is inexpensive and is someone else's headache.
@@milvan6829 No intention of ever selling, so looking forward to 20 years of not paying rent. Next door sold recently for more than I paid, so no loss if I do sell
I’m from Bournemouth too and Hua Hin is my favorite Thai destination. Lot of similarities between the two towns.
Agree mate but I like cha am also:-)
I kept my small flat in Bournemouth. (Boscombe). Small but gets me £995.00 month in rent.
I have visit both Town's, As similarities go I not notice. to mind or opinion...☹️🤔
Moving back to UK, no hesitation immediately “no”..
Food shortages, gas price rises, little petrol, sky high council tax, can't see the doctor, good luck!
He couldn't afford UK anymore
At one time, Thailand did not allow foreigners to buy property.
When did that change?
Don't think it changed. Either this pad is considered a townhome/condo, or its under his Thai mistress name or held under some third party holding company.
@@buzuxi So basically he's committed fraud.
@@rassyconkerhead5548
No. He said in the video he was married to a Thai. So as a married couple they can purchase property but it will be registered in her name and he may have got lawyers to do an arrangement to protect him in some way. He’s lived in the house for the past 6 years, so he’s genuinely living there. Old white guys need some protection too ya know, it’s probably his life savings (he said he was a trolley dolly).
Nothing,property with land can’t be sold to foreigners.
Condos I think it’s 30% sold to foreigners.
As a company you can buy property.
@@akisgre-1716 - yes. From what I understand no single foreigner can have majority control of property. Example a 4 unit condo complex a foreigner can own one unit but not two as that would make him 50% owner
Thanks for your insight, James.
Sad to see Thailand is FINISHED FOREVER....
Is it that bad?
lovely genuine bloke thumbs up
So nice to see you here James..that laid back vdo doesn t reflect what a nice English Gentleman you are …always in a good mood and friendly .. johnny forgot to mention about your high level of tennis 🎾 i wish i could be as fit as you are. DJS
Agree completely we're renters and it makes life a lot easier. Thanks Jonny and James
The poor have to rent!
buying a house for capital gains is an obsession in the west...And one fine day when that bubble bursts
As long as rent in the city you’ve bought is more than your mortgage, you’re fine.
@@Linz.Edward a return to 2008 , 2009 is something you dont want...when the US economy literally died for a couple of years...Nobody saw subprime , least of all the people in charge...I dont think that will happen this time , but the era of a private landlord is coming to an end
Great interview, thanks to the both of you,
The mistake he made was thinking that buying in Thailand was going to be an increasing investment.
I built a house with my Thai wife 14 years ago at Payoon Beach....gated development...close to Ban Chang...thought I might retire there....but my soon to be EX Thai wife got catfished and walked away from our family in January...leaving me with our 17 year old daughter...she got scammed for about 50k on some military romance scam but won't admit it....and now I'm Fkkked on the house in Payoon Beach....probably have 11 million baht into it...
Very little appreciation in property in Thailand!
@@robkey69 since a thai descent can only own property. Why don't you put it in your daughter name or a very close child you trust. There are loop holes in this.
@@robkey69 is Thai scam marriage common?
@@robkey69 Appreciate your honesty. Hope you can rebuild your life.