(A) Pattaya v's (B) Pratamnak Hill v's (C) Jomtien

[BahtBusFun]

So if you were advising a good friend where to buy a condo where would you choose out of the 3 above.

Good information would be :-

1. A, B or C.

2. Why.    .... Understanding varying requirements. 

3. Your perceived best value and views. The #1 rule ... location,  location,  location. 

4 Have you lived there or have friends that do?

5. Other recommendation. 

Thanks. Couldn't find this covered via a search but I'm new to this.

[Greg_B]

IMHO: Unless you plan to live there for a long time (C)

But as an investment it's not worth the effort

I had a friend dump his 2.2 Million Baht (2016) investment for 1.4 million Baht (2021). He wanted out and rented it for 7,000 Baht instead. Now he can leave at a moments notice and no ties to Thailand

Edited May 24, 2021 by Greg_B

[BahtBusFun]

3 minutes ago, Greg_B said:

IMHO: Unless you plan to live there for a long time (C)

But as an investment it's not worth the effort

Hi Greg,

Definitely the plan. Tidying up things now to move soon.

[Greg_B]

4 minutes ago, BahtBusFun said:

Hi Greg,

Definitely the plan. Tidying up things now to move soon.

IMHO: Take a year to think about it and see the area. The prices will continue to go down and you may find a real gem.

Or you will reconsider and rent...

[LASportsNut]

I would never buy.

However, if I were to buy a condo I would consider (order of preference) the following:

Central Pattaya - Northshore Condo

North Pattaya -  Northpoint Condo

Pratamnak Hill - Amari Residence

I do not care for the Jomtien area.  Just a personal thing.

Edited May 24, 2021 by LASportsNut

[BahtBusFun]

4 minutes ago, Greg_B said:

IMHO: Take a year to think about it and see the area. The prices will continue to go down and you may find a real gem.

Or you will reconsider and rent...

Have been coming a long time and have stayed from Soi 6 area out to Cetus, in Jomtien. 

I actually am in the process of buying one now but figured I'd see what people think about the different locations and maybe pick up some tips and ideas. 

Prices are reasonable now and may even go down but I think when all this shiiite is over people sick of the crap their own country, ie like me, has put them through will exit to at least somewhere warm. Cheap living, lots of options make Thailand look good. If the Govt grew a brain it would be even better. 

Thanks for the ideas tho. 

[BahtBusFun]

32 minutes ago, LASportsNut said:

I would never buy.

However, if I were to buy a condo I would consider (order of preference) the following:

Central Pattaya - Northshore Condo

North Pattaya -  Northpoint Condo

Pratamnak Hill - Amari Residence

I do not care for the Jomtien area.  Just a personal thing.

Hi,

Why so adamant you would never buy?  

I just don't like North Pattaya.  I don't really know why but suspect traffic is terrible in the many long weekend and all of BKK heads to Patts.

Yes Amari is nice.

[LASportsNut]

I prefer to invest the funds and have the option to move around within Pattaya or Thailand or anywhere else.

$200,000 x 8.4% (average SP500 returns since I was born) x 20 years=1,004,000 (approximately)

Or I can use the annual income ($16,800) to pay the rent.  

This still leaves me with my $200,000.

The 8.4% is not counting the dividends these funds will also earn as that is around the same % as inflation so I do not use it.

[wolfgang68]

Naklua area. Some fantastic buildings there and by my feelings it might be a little bit closer to Soi 6 than from Jomtien.

If you live here permanentely, the distance is no big issue as you will have your own transportation anyway in form of car or bike plus you will not go out every single day like a tourist.

Only invest the money in a condo that you can afford to loose.

Like many others advised, rent first a couple of months and check it out before purchase.

[BahtBusFun]

5 minutes ago, wolfgang68 said:

Naklua area. Some fantastic buildings there and by my feelings it might be a little bit closer to Soi 6 than from Jomtien.

If you live here permanentely, the distance is no big issue as you will have your own transportation anyway in form of car or bike plus you will not go out every single day like a tourist.

Only invest the money in a condo that you can afford to loose.

Like many others advised, rent first a couple of months and check it out before purchase.

"Only invest what you can afford to lose."  I am Puzzled by this.  Are you saying you can never sell or can never get your money out?.  I have been watching the market for over a year now and have seen many sales. Even some I thought were over priced or had little to offer. Have even seen buildings where jusridiction has no money or negative.  Basically the building is bankrupt with no money for repairs.

[BahtBusFun]

25 minutes ago, LASportsNut said:

I prefer to invest the funds and have the option to move around within Pattaya or Thailand or anywhere else.

$200,000 x 8.4% (average SP500 returns since I was born) x 20 years=1,004,000 (approximately)

Or I can use the annual income ($16,800) to pay the rent.  

This still leaves me with my $200,000.

The 8.4% is not counting the dividends these funds will also earn as that is around the same % as inflation so I do not use it.

Yep I get you and you me it's like anything.  Research and buy well. Nice condo in a location you like and no rent to pay monthly so easier to keep retirement bank balance in the black and know where you're living.  Buying well means some capital gains verses loses. My fund manager, as of recently,  holds my money in a low risk fund. The correction is coming soon. When shares halve I'll move it to high growth. What goes up goes down. The world economy is living on borrowed money. Inflation out of control in the states. Watch the market hemorage when rates increase. Who knows. The world is insane on many fronts.  

[wolfgang68]

11 minutes ago, BahtBusFun said:

"Only invest what you can afford to lose."  I am Puzzled by this.  Are you saying you can never sell or can never get your money out?.  I have been watching the market for over a year now and have seen many sales. Even some I thought were over priced or had little to offer. Have even seen buildings where jusridiction has no money or negative.  Basically the building is bankrupt with no money for repairs.

Certainly you can sell and get your money out if an investment condo if you have the proper paperwork and documents.

What i mean is, that somebody should not use his last and only money just to buy a condo.

In my 15 years of living in LOS and Phil, i have seen more people loosing than winning regarding their condo purchase, including myself.

[LASportsNut]

2 minutes ago, BahtBusFun said:

Yep I get you and you me it's like anything.  Research and buy well. Nice condo in a location you like and no rent to pay monthly so easier to keep retirement bank balance in the black and know where you're living.  Buying well means some capital gains verses loses. My fund manager, as of recently,  holds my money in a low risk fund. The correction is coming soon. When shares halve I'll move it to high growth. What goes up goes down. The world economy is living on borrowed money. Inflation out of control in the states. Watch the market hemorage when rates increase. Who knows. The world is insane on many fronts.  

Agree with you to a certain extent.

Hard to predict the market, so I budget to live on the averages.

I had a client who pulled out of the market right after Covid hit but lost 30% before doing so.

Then when he was all cash, he lost the rebound as the SP500 ended up around 18% including dividends (Year End 2020).

[BahtBusFun]

13 minutes ago, wolfgang68 said:

Certainly you can sell and get your money out if an investment condo if you have the proper paperwork and documents.

What i mean is, that somebody should not use his last and only money just to buy a condo.

In my 15 years of living in LOS and Phil, i have seen more people loosing than winning regarding their condo purchase, including myself.

I hear you. And appreciate the input. Trust me. I will never bring big money to Thailand or marry a Thai,  or buy a bar or build a house for a GF or date a bar girl/ freelancer..    I've seen most of and read about the rest. I'll own my home and rent my roots for the rest of my life.  There's a few nice gentleman's clubs that will keep me happy including for a Sunday lunch. 

[wolfgang68]

1 minute ago, BahtBusFun said:

I hear you. And appreciate the input. Trust me. I will never bring big money to Thailand or marry a Thai,  or buy a bar or build a house for a GF or date a bar girl/ freelancer..    I've seen most of and read about the rest. I'll own my home and rent my roots for the rest of my life.  There's a few nice gentleman's clubs that will keep me happy including for a Sunday lunch. 

That is the right approach when moving here.

All the best and good luck with the purchase or rent, and like you said there is a GC or agogo in any area to keep us happy and thats the most important and the main reason to live here, besides the warm wheather and food.

 

 

[wadman]

3 hours ago, BahtBusFun said:

So if you were advising a good friend where to buy a condo where would you choose out of the 3 above.

Good information would be :-

1. A, B or C.

2. Why.    .... Understanding varying requirements. 

3. Your perceived best value and views. The #1 rule ... location,  location,  location. 

4 Have you lived there or have friends that do?

5. Other recommendation. 

Thanks. Couldn't find this covered via a search but I'm new to this.

If your friend needs advice as where to buy because he doesn't know that himself... then he shouldn't buy. Rent for a while instead, see what he likes best. 

Overall, I agree with a lot of the sentiment here: never buy, just rent. 

[jocky king]

Buy condo only if you have money to burn ... 

Better rent the condo for a year first then decide . 

[maxtroy]

I ended up buying a cheap condo in Jomtien because  I  like the idea of the condo ready and waiting and fitted out to my specs with all my personal likes for comfortable living . A big plus is cheap as chips to leave it empty for 6 months of the year because of ridiculously low annual condo fee . $16000 baht annual fee for location with underground parking , huge lagoon pools , fitness centre , 24/7 security . 

I operate on only spend what you can afford to lose because we are always one coup away from having the script flipped and heading for the exits . Financially it was a terrible investment . I bought the condo 4 years ago and paid what the previous owner had paid 5 years before .  I would be hard pressed to sell for what the offplan buyer paid 9 years ago. 

I made the mistake of not living in Jomtien before buying and found out I have little to no reason to stay within the local area. My favourite bars and restaurants are in Pattaya and I was happiest when renting on Soi 15 because if it's ideal location for me . If I do sell I will go back to renting on Soi 15 , 

I have a vehicle and unless you live on Beach road Jomtien I would say a vehicle is a must but I don't like the bahtbus and refuse to go with mototaxi . Having a car, truck or motorbike means you can pretty much live anywhere .

My vote is for renting in Pattaya unless you can afford the luxury of buying a place that is always availabe when you want it . One critical factor for me is the pool . If you use the pool on a regular basis then make sure wherever you stay the pool gets sun all day . I enjoyed staying at City Garden Soi 15 but November/December the ground level pool is freezing due to the suns orientation . Just something to be aware of .