How Much Did I Pay to Buy and Renovate a Chiang Mai Condo - Thailand 2023 🇹🇭

A breakdown of the costs of buying and renovating a Chiang Mai Thailand condo.

[@annecy49]

Quite an amazing job done so quickly and for a reasonable price! Well done to all the workers who delivered on time and congrats to you for your buy! Let's do a final visit when all is furnished. Thank you!

[@jondcanton]

Thanks! Yeah the workers I had were great, everything done on time and to or above expectations :)

[@biglance]

Hey it looks great M8!!! Good job!!! Keep up the vids, you are a breath of fresh air for vloggers in Thailand. peace from Hua Hin.

[@jondcanton]

Thanks! Really appreciate that :)

[@PATThaiA]

Great video Jon & even Greater Content,Another fine asset accrued..

[@jondcanton]

Thanks! Appreciate your comment :)

[@DanielAdisi-ps6wq]

Great transformation. Well done

[@jondcanton]

Thanks!

[@TheWickJohn]

Very good deal

[@jondcanton]

Yep, was happy with this :)

[@davidlomas9195]

Great stuff mate .

[@jondcanton]

Thanks 👍

[@Peter_Farang]

Looks nice! Great job! I assume you will be renting this out? Have any idea about the price range on yearly contract?

[@jondcanton]

Thanks! Yeah it will be rented, should get about 12k on a one year contract :)

[@akeman21]

Condo looks great, a little small but clean. 👍

[@jondcanton]

Thanks, 38sqm, that's the sweet spot it seems for renting out, a lot more potential tenants :)

[@jessjackson5715]

hello , how many sqm2 is the condo ..cheers for the video .. very helpfull

[@jondcanton]

38 sqm

[@wdaniel2221]

Can you do a video about how you made your money? Or what you do for income now? I'm considering moving to Chiang Mai in a few years so I can live on dividends and rental income. Also considering buying a condo, but not sure. Just wondering if you're doing something similar or if you have a full-time job too and how hard jobs are to get/if its worth it. Loving your videos so far. I appreciate the realistic look at life there.

[@jondcanton]

Thanks! I have a full time job and have worked in Thailand for nearly 15 years. To be perfectly honest out of all the jobs I've had, only one came from actually applying to a job posting, the rest came through knowing someone who had a company that needed someone who does what I do :) I hope to get to full time rental income at some point but that's going to be a long long time :)

[@wdaniel2221]

@@jondcanton Thanks for the response, man. That's interesting. Goodluck with your rental income. And Congrats on the condo. Looks great to me. I can't believe the deal you got on the renovations, amazing.

[@mrlovegrove3327]

Looks very decent! Nice job Jon. What kind of rental price would that place fetch? And can you remind us where it is roughly? Cheers.

[@jondcanton]

Thanks! 12k approximately long term, but could be as much as 17k for a single month. In the Nimman area of Chiang Mai :)

[@iShootWild]

Thats really good for US$ 51K. How much is the monthly condo fee? Do you have a common swimming pool and gym in the building?

[@jondcanton]

There is a gym but no pool, the common fee is 853 baht per month, that can be paid monthly or yearly.

[@UF250]

No pool? That along would be a deal breaker for me especially in CM where there is no beach. But anyway nice place and nice renovation job. @@jondcanton

[@anthonydowling3356]

It looks amazing ,and you got the work done very cheaply .Your initial payment though for the Condo seems to me to have been too much .Anyway as long as you are happy with it that's all that counts ....Just a side note ,a thing i found out is the if you own a Condo for 7 years or more the taxes to be paid on transfer are less .

[@jondcanton]

Thanks! Yeah I'm happy with it, currently it's not possible to find a condo cheaper than this in this area, other units for sale in the building are upwards of 1.8 and they need a lot of work as well (of course doesn't mean they will sell at this price) but I was speaking to a lady who bought a unit and renovated it about 3 months ago, she paid 1.68 before renovation. Nice, I didn't know that about the less tax after 7 years :)

[@simonho999]

Excellent! As a foreigner can you borrow money from the bank or you have to pay all cash?

[@jondcanton]

Thanks! If you are not a permanent resident you can't get a mortgage as a foreigner so would need to pay cash. You could however borrow money against a condo you already own, check out MBKG dot co dot th, but the interest rates are quite high and they won't lend on condos in Chiang Mai.

[@simonho999]

@@jondcanton Thanks a lot for your reply Jon. I love watching your videos about investment properties in Chaing Mai. One day I will live in this great city and get out of USA. lol

[@ArrBee6]

Good call, to do.

[@user-ug8wx5er1w]

Depends on the net rental return

[@jondcanton]

Should be around 7%

[@tsuboimachi]

I own a place in your building! Maybe I'll see you in the elevator sometime. I'm wondering if you are insuring your unit? The recent earthquake got me thinking....

[@jondcanton]

Nice! Yeah I have insurance.

[@Freedom-33]

I bought and flipped properties in my spare time in Canada (freehold houses) and retired in Thailand now. I wouldn’t mind the idea of doing it here as well but condos represent too much unknown risk to get involved/invested. Not to mention the sewer gas in nearly every condo over 5 years age =\

[@adammatani2587]

How did you find the team for renovation?

[@jondcanton]

Used people we’ve used before, originally just a local guy to us but he did great work so kept using him.

[@JapanParadise2023]

what type of visa do you have for Thailand?

[@jondcanton]

Family extension of stay and work permit

[@evansmusic2009]

As a comparison, Jomtien rather than Chiang Mai but I bought my place for 1.45million plus 50/50 transfer.. I bought it based on a few photos/videos while overseas towards the end of covid! I spent approximately 120k on a replacement kitchen, painting throughout, new bedroom door and bathroom cupboard doors, new TV, ceiling fan, balcony tile repairs, and refurb/gas/clean of aircons... The building is 400m from the beach but quiet, north facing so not too hot, and has 2 big pools, 2 gyms, table tennis, and maintenance is only 14000baht/year.... I think it was a good price - not sure what others think? kzbin.info/www/bejne/rnvJao2MmNuKrsUsi=al41VbaMIVx2T3X_

[@anthonydowling3356]

That looks like JBC .A double unit.You got that for a great price with sea view.I once lived in JBC Building A3

[@evansmusic2009]

@@anthonydowling3356 Well spotted... Yeah I think it's a good spot.. very quiet on this side of the building... Unfortunately the trees have gone now with the road being dug up and storm drains replaced.. there's a temporary road but much further away. I heard from a few people that it's crown land there so won't be developed but never worked out how to confirm that.. Not much of a sea view being a lower floor but I can see Koh Larn in the distance...

[@jondcanton]

Nice place! I like your little balcony as well :) Yeah something that size in the area I bought would be a minimum of 2.5. I have seen condos in Chiang Mai with a similar size and price however they would be further out and not 50m from the most popular road (for some haha) in Chiang Mai. Not bad condo fee as well, mine is 853 a month so probably works out more on a per sqm basis. Great price on the renovation as well!

[@evansmusic2009]

@@jondcanton I figured that as the balcony is included as part of the floor space small but functional is better.. While searching most of the places of this size in the same building were listed for above 2 million.. The land title office valuation was over 1.9 million so I think I got it for a good price courtesy of covid (which was the plan). I see 28m2 units listed for the same as I paid... That said it is an older building so there are many unrenovated places... I need to replace the carpet at some point but not there enough!