Thread: Pattaya Condos
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Old 09-10-2013, 04:19 AM   #18
KeeNeow

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Always said I would never buy here as easy to write off two months security deposit as your total loss should you have to leave.
Renting is so cheap here compared with buying that to me it is not worthwhile risking the capital.
Standard in the US is paying approx 1% of value of a house in rent per month. Another rule of thumb is buying a house for about 10 years rent so the 10000 month condo is worth about 1 to 1.2million baht maximum not the two million that they are advertising.
I can invest the 1.2 million in The USA and make 5 % a year easily so the effective cost of renting is really only 5000/month.
Another good reason for renting is no maintenance worries or having to deal with thai work men. Not paying common fees can save you another 1000 baht a month for a 35sq.m. Thailand will eventually enter the 20th century and start charging people property taxes which will increase the cost of owning as well.
No.1 Reason is what can you do if Russians or even worse Mirky moves in next door to you, Move.
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