Thailand Property Buying At Age 61 Buying A House Thailand Check It Out!

[@johnny02161985]

Best channel on KZbin !!!

[@RetiredandLivingthedream]

Mine of Course. Every taste is covered on KZbin just have a look and you will find the ones that tick your boxes.

[@davidlees2287]

I don't normally leave a comment but I found your videos very well presented so I have subscribed to your channel keep up the good work david

[@RetiredandLivingthedream]

Thank you so much David for taking time to watch and comment and subscribe, it is very much appreciated.

[@keithd1219]

Les, You're a very methodical thinker and whole heartily agree with your decision to buy a house. I wish you only the best out of life....you've earned it 👏

[@RetiredandLivingthedream]

Thanks Keith much appreciated comment.

[@charleswhite9205]

That is great news , looking forward to seeing your new home . All good wishes

[@RetiredandLivingthedream]

Thanks so much! Charles

[@jlf2221]

Loved it! Great info! THANKS!!!

[@RetiredandLivingthedream]

Glad you enjoyed it! Thanks for watching.

[@Robert-yl8rq]

Not planning to even visit Thailand and I still enjoyed this video haha. Keep up the good work.

[@RetiredandLivingthedream]

Thanks for your comment Robert and for watching.

[@micktheleg1049]

Good Video Best of luck to you Les

[@RetiredandLivingthedream]

Thanks so much.

[@dennismarsden9177]

Loving your videos Les, so informative!

[@RetiredandLivingthedream]

Thanks so much! for watching, showed a couple these houses yesterday, there making plans to buy one as they are great value.

[@dennismarsden9177]

l am very impressed with the way you take the time and trouble to reply to every single comment !

[@brashbrash8407]

Sensible advice Les - quite a low risk and very affordable approach to getting your own place in Thailand, many thanks!

[@RetiredandLivingthedream]

Very welcome and thanks for taking time to watch

[@bental772]

It's great video les, well done my friend. There is a lot of economic logic in the method or idea you describe on the way to financing a residence in Thailand.

[@RetiredandLivingthedream]

Thanks for taking time to comment.

[@bental772]

You are welcome dear friend 👍

[@CraigWinstanley1]

Cheers Les 👍🏻 it’s a win / win ! Look forward to you revealing the home that you and your wife will move into in January 2022!

[@RetiredandLivingthedream]

There is a Twist to this Story I think people will like it I know I did.

[@sabaisabai8626]

great video and info. thank you

[@RetiredandLivingthedream]

Your welcome

[@craigross341]

The classic calculation is i) rent of property, ii) yield on an alternative investment of the value of the house. So if £30,000 yields 5% in some fairly cack investment trust in the UK, which is 64,838 baht. That's 'clean'. Owning a property involves repairs and transaction costs. If they're 20,000 a year that's just under 85,000. So if you're paying more than 7,000 month buying looks cheaper. From what I saw before Covid renting seemed cheaper, but purchase prices might have fallen further than rents.

[@valhallaholsopple]

Thank you so much for the information. I've often thought about should I buy or just rent. You made me realize that it doesn't make sense for me to buy until I know I have a Thai partner for life. If I find someone that I want to marry. I will probably buy something then. Thanks for showing me the way to do it.

[@RetiredandLivingthedream]

Thanks John for your comment good luck with your future.

[@kevinrobb86]

watching this and listening to the birds chirping away in the background and imagining how chilling it would be just sitting in a hammock with a beer with the sun on you and a big smile. I worked out what it would cost to rent for example over 10 years and it worked out I could buy the same type of house for the same money so as long as the area suits then its a no brainer as far as I am concerned I also saw a condo for just under 20k

[@RetiredandLivingthedream]

Hi Kevin, yes I love the bird song also spoilt sometimes by the soi dogs but on the whole a great sound. My wife has control over the Hammock she lays in this watching youtube or her Thai soaps in the afternoon We have a sofa on the veranda and coffee in the Afternoon is a regular event. Watching the sunrise from the veranda is a wonderful feeling. I hope I paint a beautiful picture because this is real life here for me. A dream many years ago but real now. Yes I agree if you can buy then do so but take precautions to protect your investment. Consult a Lawyer. Best of luck with your future plans. Make your first purchase the Hammock and 2nd but a Beer send me a picture when you get there. Thanks for watching.

[@harryshannon2028]

Well done m8 .great video again :makes sense for you and your wife to buy .

[@RetiredandLivingthedream]

Thanks Harry. I never thought of buying at my age but following a conversation with a guy I met in Pattaya ( a subscriber ) we discussed many things and he opened my eyes to this, it’s something I never thought of. Since our chat a couple of friends have also gone this route. You never stop learning.

[@dennismallinson2375]

Hi Les absolutely the right decision its a no brainer myself and my thai wife did the same we was in the same situation hope everything goes well with the move

[@RetiredandLivingthedream]

Thanks Denis, did you see the end result? I did not have to move. Thanks for your comment have a Happy New Year.

[@conancol7556]

Cheers , good ideas ... Especially if separated , divorced etc my pension like yours ... Few quid left after divorce. Might be able to buy better idea...

[@RetiredandLivingthedream]

Thanks for your comment it is not for everyone but it can be advantages to those who wish to own a house.

[@markinthailand1201]

"The Art Of The Deal" the author to remain nameless 😁 congratulations Ploy and Les cant wait the the next instalment 👍👍

[@RetiredandLivingthedream]

Thanks so much for your comment we learn new things every day.

[@tman5634]

Brilliant Les & makes alot if sense in a trusted relationship. The only thing that might put some off is the deposit required. Not because of not having it, but that's the real money that's lost if things go pear shaped.

[@RetiredandLivingthedream]

I agree with what you say but I would not recommend doing this if you do not trust your partner, I’d think a couple of years you can get the feel of the direction your heading inn, but any relationship can fail no matter where you are in the World, I never got married thinking about divorce but that happened 3 times to me. Life is a risk.

[@RetiredandLivingthedream]

I agree with what you say but I would not recommend doing this if you do not trust your partner, I’d think a couple of years you can get the feel of the direction your heading inn, but any relationship can fail no matter where you are in the World, I never got married thinking about divorce but that happened 3 times to me. Life is a risk.

[@tman5634]

@@RetiredandLivingthedream Bang on Les

[@dustinquinton]

I would have plenty of money to pay for the house in full upfront. My question is. Would it be better to finance through the builder just in case there are further repairs that need to be made? If the builder has all of his money, it might be a little harder for him repair things under warranty.

[@RetiredandLivingthedream]

Hi thanks for watching, the builder now has withdrawn the funding option. You can only now pay cash for the build. As standard you only get a one year warranty here on a new building. Hope this helps. Thanks for watching.

[@ronrockit3084]

Great video you got me thinking 🤔🤔🤔

[@RetiredandLivingthedream]

Good! for this video making you think, I was the same when my friend explained his way of thinking is why i took the step to buy. There twist to the story and I will show the house we bought in the next video. Thanks for watching.

[@KnotChinese]

Excellent video, great detail. I moved to Thailand last week, with the hope that Vietnam will follow suit and open soon. It beats spending winter in England. Obviously my circumstances are different, as Vietnam is my long term goal, but you certainly make it sound tempting!

[@RetiredandLivingthedream]

Hi Matt, I love Vietnam this was my 2nd choice i spent 6 weeks traveling around Vietnam from the South to the North there is nothing to dislike about Vietnam wonderful place and nice people. I took the wife to Vietnam a place called Sapa in the North I have travelled the World and I would put Sapa as my number 1 place in the World for sheer beauty. We will return to Sapa again soon. Thanks for watching and best wishes for your plans in the future. As I write this looking out onto my sun drenched Patio thinking of the UK yep your correct it beats the hell out of the UK.

[@Tony-mq2br]

New to the channel..Great channel mate keep it up..I live in Newcastle Upon Tyne so also the north east where you’re from…it gives me something to think about in the future as I have little ties…no kids etc no marriage

[@RetiredandLivingthedream]

Thanks for the sub! Had many a good night in Newcastle, thanks for watching it is great to live over here, best wishes for your future plans.

[@jeffedwards5028]

I would like to see inside the house.....thank you have a great day....

[@RetiredandLivingthedream]

kzbin.info/www/bejne/fnSkl5yIaaibibM If you look at this video you can see the living room area as I did a home theatre system.

[@shauncooke9837]

I’ve noticed this was a year ago still got more for sale over there you down from Pattaya

[@RetiredandLivingthedream]

Yep still a few plots for sale its a good looking development, my friend moves into his home in 2 months here.

[@mjtheexplorer9721]

Pretty cool sending full support host stay safe always and stay connected godbless

[@RetiredandLivingthedream]

Thanks so much.

[@cobhome]

Interesting, thank you....

[@RetiredandLivingthedream]

Thanks Clay hope you found it interesting and helpful

[@RetiredandLivingthedream]

Thanks Clay hope you found it interesting and helpful

[@johnny02161985]

Where did you finance through….. any specific banks in Thailand…

[@RetiredandLivingthedream]

A Private finance deal with our Landlady.

[@billsimpson2392]

Good stuff Les 👍

[@RetiredandLivingthedream]

Thanks Bill.

[@stanleyolszewski7701]

Great video. I’m from USA and wondered if you have to live in Thailand for a period of time before you can buy? Thanks

[@perolagrande]

The decision to rent or buy is better taken from an economic standpoint rather than comparing over a short 7-year period. For example, you said the rent was BHT 12,000/ month, that's BHT 144,000 a year, or over 11% of the purchase cost of BHT 1.3 million. As long as you can borrow more cheaply than 11%, then it makes sense to buy. The figures you provide raise the question as to why renting is so expensive in relation to buying, as an 11% gross rental yield is enormous! What you should do is buy several properties with loans and rent them out, given such a massive gap between the rental income and the cost of finance.

[@RetiredandLivingthedream]

I agree buying these houses are a good risk.

[@joline2730]

@@RetiredandLivingthedream I thought your reply was going to be : 'been there, done that' 🤔 I have purposefully NOT looked at the next video, as I wanted to read the comments from everybody first ..

[@Doug-zl8nb]

Great video Les😊

[@RetiredandLivingthedream]

Thank you 😁Thanks for watching.😎

[@craigross341]

In Isan girls with flyers for houses seem to specifically target farangs. I suspect they think you're less likely to know the real prices. There were a load of new houses out near HomePro in Udon that I thought were way too expensive. Different maybe if you have a Thai partner.

[@RetiredandLivingthedream]

It is worth what someone is willing to pay. but we are quoted a higher price anyway.

[@thaitime5244]

Paid for at 68, rent and mortgage free. You need to take into account how much you would probably spend on renting after the 7 year period too, nobody knows how long we will live of course, but if you live another 10 and half years, it hasn't cost you any more money over renting, and don't forget, rents can go up over the longer term too. In normal times, 15,000 baht a month to rent a 2 bed/2 bath detached house wouldn't be unreasonable anyway. What are you gambling, 200,000 baht or 16 months rent, that's it. If you live to be over 71, which i would hope that you will, you will be quids in later, saving 12,000 - 15,000 baht a month on rent, so you can enjoy an even better life when you will most need too. Good move Les, it's a no-brainer as far as i am concerned, don't listen to the doubters, most of it is jealousy anyway. Go for it.

[@RetiredandLivingthedream]

Thanks so much for your comment it makes prefect sense to me also., I read all comments and take note of every one's comment and I can get a balanced decision about what I do. But as you mention the longer I live the greater the saving. Take action to mitigate the risk then you can live happy days.

[@craigross341]

Any accountant will tell you that everyone rents. If you own a property outright from an accountant's point of view you're renting from yourself. You're giving up the rent you could receive from somebody else. Brits find that very counterintuitive. Brits say "rent is dead money". But loads of people have £400,000 in shares and they rent a flat that they could buy, because they think the shares are a better investment than the house.

[@RetiredandLivingthedream]

I love what you can do with numbers.

[@joline2730]

... but shares can go down as well as up - my British shares HALVED when Ukraine was invaded and have not recovered by a long chalk 🙄🙄

[@peterconnolly2841]

Smart move look after you lady mate buy a few on the loans

[@RetiredandLivingthedream]

Thanks Peter,

[@billybob7522]

Hi Les, you don't mention running costs of your new property. Will they be similar to the rental property or are there additional costs to add? For example yearly taxes of any kind to various authorities, fees, insurances etc etc?

[@RetiredandLivingthedream]

The running costs will be the same as rental eg electric water and internet. Extra’s the 1st house an annual maintenance fee of 1,000 baht per month House insurance apart from that just the same. Fees for buying the property and legal work not got that yet we are awaiting the bill been told about 40,000 baht.

[@jamie1944]

@@RetiredandLivingthedream Doesn’t the seller contribute to the legal fees ?

[@richarddavidson8632]

Hi good video sounds like a good way to buy a house. Was thinking about doing something the same but what happens if your partner dies what happens to the house will you be able to stay in it or will you have to leave

[@RetiredandLivingthedream]

Under the agreement the house would be in a company name if my wife died but I like your thinking I tried to think of every option and yes this is covered.

[@scottgeen3062]

Hi les Scott from New Zealand where is the best place to exchange new Zealand money into thai baht thank you

[@RetiredandLivingthedream]

Not the Airport depends where you are but the exchange booths dotted everywhere are better than the banks.

[@joewatkinson3225]

Thanks les

[@johnwilliams2305]

Les personally l would be very very cautious when entering in to financial dealings in thailand its a mine field of horror stories for me l would just pay cash its a small amount as you say and your wife has the chanote title deed in her name the same day But it's your decision your money best of luck

[@RetiredandLivingthedream]

Hi John, this idea is for both with the cash and for all those who do not have the cash ( including me ) yes I agree there are many horror stories but there are more good stories than bad but the bad stories make better videos for some reason. Terms are safeguards here to protect everything here so you can safeguard everything. Thanks for taking time to comment.

[@johnwilliams2305]

I've become very suspicious and skeptical when doing any business here trust is a major issue for me personally only bring what you can walk away from

[@jamesdobbs6942]

Foreigners allowed to buy condo, buying a house involves maybe doing so in a Thai woman's name. Many farang have lost property and valuables that way.

[@RetiredandLivingthedream]

You are correct in what you say but there are ways to protect your house purchase so you do not lose out. The guys that do not do this are open to lose everything.

[@yolliefoliente3344]

I would like to ask sir, where in Thailand you are buying that house? I think it's a good idea buying a house in Thailand instead of buying in UAE.

[@RetiredandLivingthedream]

Rayong district is the area I am buying.

[@rudolfdesadeleer7995]

Foreigners normally loan money abroad in a non Thai Baht currency to finance their Thai house....hence 5 percent interest rate is next to nothing because you do not have to hedge currency risk......and to a Thai a house or condo is worthless...what matters is the land the house is build on....so you did the right thing buying the house instead of a condo as insurance for your wife

[@RetiredandLivingthedream]

Thanks for taking time to comment. Every ones situation is different like I said this is not for everyone. If it works for you then great. But it’s another option.

[@rudolfdesadeleer7995]

@@RetiredandLivingthedream

[@bridgebright8868]

What city in Thailand is this? I'm wondering why houses are so cheap there.

[@RetiredandLivingthedream]

Rayong, houses are much cheaper outside of Tourist hotspots but here we have great beaches and everything you could need. We are 30 min away from Koh Samet a beautiful tropical island have a look at my videos of Ban Phe and Rayong and Koh Samet you will see its a great location to live.

[@shauncooke9837]

If someone is in doubt by through the thai person and do a lease for 30 years for them people

[@nakluamark]

Hi Les, just curious did any of these come with a communal pool on site or the bigger property have enough land to put one in

[@RetiredandLivingthedream]

Yes property number 1 had a pool and a clubhouse on site. The 3rd property had a onsite resteraunt with a small pool.

[@nakluamark]

@@RetiredandLivingthedream is there monthly cost on these ? Looking forward to what you decided on

[@RetiredandLivingthedream]

@@nakluamark yes property number 1 there was a maintenance cost of 1,000 baht per month, property number 3 monthly cost. House number 1 the land area was not big enough to build a pool.

[@TheOfficialWickedOne]

I wannna buy one but I hear foreigners can’t buy.

[@RetiredandLivingthedream]

Foreigners can buy but never own the land, you can lease the land that the house sits on you can own the house but the Land will always belong to Thai people. You can buy a Condo and own it outright above the 1st floor of a development. A good thing in my mind I have no problem with that it means Thailand will always belong to Thailand not like the U.K. which is owned by many foreign individuals from all over the world.

[@t.q.6639]

Was the loan from a bank to you or your Thai spouse? Would you or your spouse need to have income from work to qualify for a mortgage?

[@RetiredandLivingthedream]

The loan was from the building developers no proof of income needed just a deposit of 500,000 on the 2.9 million house and 200,000 on the 1,3 million house. My wife has a house and land also but no need to use the house as guarantee. Also private finance no need for proof of earnings just a deposit between 500,000 and 800,000 baht then pay over 7 years.

[@anthonycarney7849]

Rent is dead money unless u r letting it out for ren

[@RetiredandLivingthedream]

I agree is why I have chose the direction I am going. You can and have to cover yourself here in Thailand so you do not lose the investment you make.

[@jamie1944]

Where was the house for 1.3 million baht ?

[@RetiredandLivingthedream]

Hi James these houses were i Laem Mae Phim Klaeng District just passed Rayong District. Well worth the price. Thanks for watching.

[@usmcmma]

If you don't live in Thailand can you just buy a home for the hell of it or for vacations?

[@RetiredandLivingthedream]

Yes you can the ones in this video are very much for this purpose I have helped two people buy from here one person is going to live there full time and it will be ready in November. We almost bought here also.

[@ThailandLifestyle]

All you say makes sense and goes not only for a house but condo as well. (why didn't you wash the car? - grin) Good thoughts. Thank you.

[@RetiredandLivingthedream]

The car was washed by Nissan following a service so next week lol.

[@ThailandLifestyle]

😂👍 I don't want to limit your creativity. How about making a video of your wife washing the car while you tell a story? LOL

[@RetiredandLivingthedream]

@@ThailandLifestyle sorry to disappoint she NEVER washes the car.

[@ThailandLifestyle]

Although it might be a beautiful video, I don't mind. I am sure you will find another creative solution. smile. Have a great weekend.

[@davedenham8697]

How did you get a plan that guarantees the house goes to your wife?

[@RetiredandLivingthedream]

Easy. Not difficult why do you think it would be difficult she is Thai so it goes to her anyway which ever way we go.

[@markkimmerling4251]

I wonder if it counts as investor or something i could use to continue getting visas and live in country since i would own. Would you recommend for a single guy that wants to live cheap in asia.

[@RetiredandLivingthedream]

Thailand is offering a 10 year visa for such investors, keep watching the news for information, good luck with your plans I hope they work out, as a young person to retire here I would say if you can do it then great. Thanks for taking time to comment.

[@anniereynolds1220]

Are there any for sale now. ??

[@RetiredandLivingthedream]

Yes If you want to have a look send me a email and we can introduce you to the developer who is offering the 7 year loan. [e-mail]

[@pokeaman1645]

Hi, I have a question. so you buy the house in the wife's name what happens if God forbid she was to die. What would happen then because we can't own property in Thailand? I am pleased for you and I know you will make a life together.

[@RetiredandLivingthedream]

Thanks for your comment, we have that covered also, if my wife should die then the house goes into a company name or depending how close we were to paying it off, I could sell the property , if she died then I would not stay in the same place I would travel again alone in a van around Europe and visit Thailand for about 3 months a year. I am never stuck for ideas on what I would do. I love it here I love being with my wife but this wife will be my last wife for sure. Thanks again for your comment.

[@mubashirahmad1564]

Hi can you Please guide me. I got married to thai girl in Turkey. My home is in Turkey. Now we have Turkish Marriage certificate. Can you please guide that how can we get our Thai marriage certificate? I have our Turkish marriage certificate translated and notarized into English by Turkish officials. what should we do to get our Thai marriage certificate? Thank you

[@RetiredandLivingthedream]

Hi sorry about the delay, when you return to Thailand you will have to get the Certificate translated into Thai then go to the Ministry of foreign affairs to get it notarized and stamped as a true record of marriage. Not a difficult thing to do Hope this helps thanks for your question.

[@mubashirahmad1564]

@@RetiredandLivingthedream thank you so much for prompt response. I really appreciate it.

[@johnny02161985]

I have so many questions, what’s the cheapest city to buy in Thailand

[@thailanguagepamsstyle8405]

Anywhere outside Bangkok and not tourist sites are cheap. If you like mountain and highland, you will consider the Northern region. If you like the beach and seaside, go for the East and the Southern regions. The North East region is mostly flat land.

[@markg3650]

Buying in Thailand is a huge risk. Better to put the £30k in a UK listed stock yielding 6-8%. the dividend income will cover your rent and the money stays in your own name in the UK. That’s how I live rent and risk free in Pattaya 👍

[@RetiredandLivingthedream]

Well done, there are many ways to protect yourself. Thanks for your advice.

[@cliveodonnell2498]

This is exactly why you should not buy. Keep your capital outside of Thailand where it will earn more than the cost of rent. 6-8% is realistic but if if the source is a pension fund then 10-15% is more realistice and you would be crazy to unlock that return to lock into Thailandand tie up capital. Unfortunately there are a lot of illiterate financial people and dubious people who'll paint a picture to suit their sales narrative. There is absolutely no good financial reason to invest in property in Thailand or indeed in most countries.

[@RetiredandLivingthedream]

@@cliveodonnell2498 Thanks for your comment and for those who wish to keep their money safe from everyone your correct but looking at it a different way for those without the cash to buy a home here in Thailand, they can do both here buy a home and save the money as they can form a company so everything is in their name how many places around the World offer a nice size house for the figures I suggest and methods to pay for the property. So there is more than one way to look at things. Investing in a property here gets your foot on the ladder buying instead of renting. Some people do not have the cash to buy ( including me ) but I think this way is a good idea, not for everyone but acceptable to me and many others.

[@hotkillaz]

Diversification is also important its not really responsible to have your whole portfolio in 1 basket. Atm i'm all in crypto because I'm young and I dont have that much but once my portfolio grows I will look to diversify into crypto stock, real estate and maybe gold

[@RetiredandLivingthedream]

@@hotkillaz best of luck with your plans, I agree do not have everything in one basket

[@kevwandless]

Hi pal, do you have any mapping link to where the development is?

[@RetiredandLivingthedream]

If your interested in having a look email me and I can show you and introduce you to the owner who is offering the 7 year deal [e-mail]

[@kevwandless]

Les , very much interested at that money. Where exactly is the development? .Will email you

[@timwalker2458]

Here's an idea, let people use a cash converter rather than giving out numbers that will never be correct.

[@lifeuncommon1116]

He gives the Baht figure first… so go fill your boots with currency conversion. In the meantime I’m happy watching this video a few days later and knowing the figures are approximate.

[@RetiredandLivingthedream]

I give approximately the cost you can check on the day, it’s just for an example if your interested then you will dig deeper into the numbers. But I say this at the beginning as it changes daily. I also give it in THB so you can convert if you wish.

[@MrRedResorts]

you are NOT buying anything someone else is BUT with your money ... that's how thailand property ownership is... all boils down to trust with who has the controlling interest because sure you don't....

[@RetiredandLivingthedream]

There are many ways to think about this, what ever your happy with is the way. Your way

[@thaitime5244]

The house is not going to cost you 1.1 million, 1.3 million or 1.5 million, it's going to cost you 500,000 baht. Why? The rest you would pay in rent anyway. A house for 500,000 baht, brand new, no brainer mate. In the longer term, it will cost you nothing, and you will actually be saving money (as long as you live longer than 10 years, lol) Take care mate.

[@RetiredandLivingthedream]

Spot on I'm glad you can see this also chose the right girl take precautions and live a happy life together. Anything over 7 years is a bonus

[@reganferguson4823]

the house cost less than my car

[@RetiredandLivingthedream]

My gf from 10 years ago her brother had a truck it was worth 1 million baht but they lived in a shack no windows no doors but they had a truck.

[@MrRedResorts]

rental is never wasted money that is a stupid comment as you still need to put a roof over your head ....so only 2 choices...you buy or rent! yes its far better to own a home more security longterm...