Property costs in Isaan

Amnat Charoen, Buriram, Chaiyaphum, Kalasin, Khon Kaen, Loei, Maha Sarakham, Mukdahan, Nakhon Phanom, Nakhon Ratchasima (Korat), Nongbua Lamphu, Nong Khai, Roi Et, Sakon Nakhon, Sisaket, Surin, Ubon Ratchathani, Udon Thani, Yasothon

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Property costs in Isaan

Postby skinnymat » Mon Jan 30, 2017 11:06 am

Hi folks. 1st post so go easy on me. We are back in the wife's village on holiday again. There is a house that's come up for sale and I'm interested in it. It was built for a falang and is called falang house to all the locals. Looks a real bargain and just need a few other opinions on it. I can post up some pics to look at. I won't put a price up but would be great to hear what everyone else thinks it would cost. This kind it would be an investment for when I look to retire here in a good few years but we can also use it when we holiday here.

It's located about 5 mins drive outside Huai Mek and seems really reasonably priced even though the price has gone up a little since I showed interest. It's a three bedroom house with Thai kitchen and dining get space and a toilet and shower room at the back.

Would love to know anyone's opinions on it and also if any other baits or other falanguys live up around here. Spoke to an American at the market the other day.
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Re: Property costs in Isaan

Postby Sometimewoodworker » Tue Jan 31, 2017 11:31 am

skinnymat wrote:Hi folks. 1st post so go easy on me. We are back in the wife's village on holiday again. There is a house that's come up for sale and I'm interested in it. It was built for a falang and is called falang house to all the locals. Looks a real bargain and just need a few other opinions on it. I can post up some pics to look at. I won't put a price up but would be great to hear what everyone else thinks it would cost. This kind it would be an investment for when I look to retire here in a good few years but we can also use it when we holiday here.

It's located about 5 mins drive outside Huai Mek and seems really reasonably priced even though the price has gone up a little since I showed interest. It's a three bedroom house with Thai kitchen and dining get space and a toilet and shower room at the back.

Would love to know anyone's opinions on it and also if any other baits or other falanguys live up around here. Spoke to an American at the market the other day.

Impossible to give a price. After the construction, the location is everything.
It has been quite cheaply built, ceilings are frame and panel (this makes it easy to lift to check if there is any heat protection but allows for dust ingress), windows are probably locally made and single glazed, the tiles are from different batches so have colour variations, it has posts in the centre of the living area. You won't be able to use AC in the living area without significant modification. If there's no heat protection in the roof it is likely to get rather warm :?

If it is where you want and at a price you want to pay then it is good.

If any of the points I've made are a problem then the price would need to be very good. None of them are are bad, there are a lot more things to check. To give one example, how old is it (new on new land fill and you may subsidence issues)
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Re: Property costs in Isaan

Postby skinnymat » Tue Jan 31, 2017 9:02 pm

Thanks for the reply. Some good points there for me to take on board. The 3 bedrooms all have air-conditioning and my 1st thought was why is there no air-conditioning in the main room? I agree with you in that location is a massive factor in any purchase of a house. This is central of the village and on the main road through it. There is enough space in the rear garden to make a rear parking area with a little bit of work and a car will fit out front as well.

The owner has told us how much she paid for the house and how much she wants for it. Its probably come available at the wrong time for me but at the price she is asking i dont think i can let it pass. We have seen the paperwork for the house and everything looks in order so it's just a case of trying to sort a price. I think I will wait a little bit until we are back in the UK and sort some cash before I make an offer on it. All the wife's relatives have said it's a good house but they think she will struggle to sell it to anyone else so it may be a bit of a waiting game for us until we get it for a knock down price. If exchange rates go up a little this would help and bring the price she is asking to an even more reasonable price. Let's just say it comes in at well under 1 million bhat and to be honest I would have thought I would struggle to buy anything for less than that.

What would be any other ongoing costs if I was to buy it? Just gas electric and water? Are there any other things I need to know? I understand the whole principals of it being in the wife's name and me not actually owning it. Any other tips I need to know?
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Re: Property costs in Isaan

Postby Sometimewoodworker » Wed Feb 01, 2017 4:26 am

skinnymat wrote:Thanks for the reply. Some good points there for me to take on board. The 3 bedrooms all have air-conditioning and my 1st thought was why is there no air-conditioning in the main room? I agree with you in that location is a massive factor in any purchase of a house. This is central of the village and on the main road through it. There is enough space in the rear garden to make a rear parking area with a little bit of work and a car will fit out front as well.

The owner has told us how much she paid for the house and how much she wants for it. Its probably come available at the wrong time for me but at the price she is asking i dont think i can let it pass. We have seen the paperwork for the house and everything looks in order so it's just a case of trying to sort a price. I think I will wait a little bit until we are back in the UK and sort some cash before I make an offer on it. All the wife's relatives have said it's a good house but they think she will struggle to sell it to anyone else so it may be a bit of a waiting game for us until we get it for a knock down price. If exchange rates go up a little this would help and bring the price she is asking to an even more reasonable price. Let's just say it comes in at well under 1 million bhat and to be honest I would have thought I would struggle to buy anything for less than that.

What would be any other ongoing costs if I was to buy it? Just gas electric and water? Are there any other things I need to know? I understand the whole principals of it being in the wife's name and me not actually owning it. Any other tips I need to know?


At well under 1 million it is probably a very good deal as you could have a reasonable structure to modify at a price that makes modification a reasonable idea if you want to.

You will be paying any thing from 100 to 5,000 per month on electricity depending on usage, at the moment the bill for our house is between 300 & 1,000. Village Water less than 50, cooking water 10 for 20 litres, drinking water 72 for 9 litres and I don't know the gas cost as we haven't refilled a bottle recently. You will probably have to contribute to the village death insurance.

As far as owning things in Thailand the ONLY thing you can't own is land that has to be owned (not just in name) by a Thai. You can own the house if you want to, but ownership is probably academic as in principle all assets acquired after marriage are split 50 50 if you divorce. Also if you divorce then you probably could not continue to live in, or visit, the village anyway.

You should make sure which land deed you will get Chanote is best with nor sor sam gor also OK less than that and you will need legal advice. You should be sure that if it needed the plans to be registered that they were. You may want to investigate an Usufruct to protect you in the event of your wife predeceasing you.

You also need to be able to walk away from the investment (house and land) if you have to, however all that said at under £20,000 that shouldn't be a problem.

Plan for the worst, hope for the best.

Be aware that the owner may have an urgent need for the money and may not have the option to wait. She may sell to somebody who has cash for a much lower price than you are willing to pay because they have the cash.
The phrase "a bird in the hand is worth two (or even22) in the bush" is one that many Thai people live by.

Personally if I thought that I could easily raise the cash I would negotiate a price and put a deposit (with a contract) on the house and land. We did that for the land we bought that we are building on, it is possible that if we didn't do that we wouldn't have got the second 2 rai of land.

The relatives could be correct or not. When we bought our land everyone said we payed way too much for it. Now 12 years later everyone is jealous of the "low" price we paid for what we have.

Ignore "what everyone is saying" is it selling at a price you can easily pay in a place that is good or is it a "bargain" (something you don't want at a price you can't refuse)
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Re: Property costs in Isaan

Postby Sometimewoodworker » Wed Feb 01, 2017 4:38 am

skinnymat wrote:Thanks for the reply. Some good points there for me to take on board. The 3 bedrooms all have air-conditioning and my 1st thought was why is there no air-conditioning in the main room?


Having just bought an air conditioner for our living room/kitchen and payed over 80,000 for it, that is probably why :? :lol:
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