Buying a condo in Hua Hin Area

[ge3]

Hello,

I am considering buying a condo in the Hua Hin area preferably in Khao Takiap. I am thinking of investing 1.5 to 2.5 million baht, 2 bedroom with communal pool etc.

Just a few questions:

Are there any pitfalls I should look for? eg Thai Laws for foreigners owning a condo. I have heard foreigners can own 100% their condo (leasehold) but I have been informed there are many types of leaseholds in Thailand and timescales and are they renewable?

What happens if you pop your clogs? Can your siblings inherit your leasehold?

Maintenance, electricity, water costs.
Hidden costs ect etc.. eg Agent, lawyer fees.

Another question: Are condos easy to let off while I am not there? I am hoping to use it for 3 months of the year and letting it off for 9 months. What commision do agents charge and are they any pitfalls I should be careful of?

Thanks

[hhfarang]

As far as I know you can own a condo 100% if the building is 51% owned by Thais. If you pop you clogs it is yours to will away.

[hollister]

You may want to rethink your purchase plan if you intend to rent it. Which will bwe quite a hassle and it will mostly rent during high season only. Why don't you rent one for 3 months yourself ? There are many on offer.

[richard]

I am considering buying a condo in the Hua Hin area preferably in Khao Takiap. I am thinking of investing 1.5 to 2.5 million baht, 2 bedroom with communal pool etc.

Dream on

4.5 to 6.5 more realistic

[Pagey]

Agree with Richard. You will only buy a studio for that price. 3 - 4 mill will buy a 1 bed room. 4 mill up for a 2 bedroom in my opinion.

[Whaler]

Another question: Are condos easy to let off while I am not there? I am hoping to use it for 3 months of the year and letting it off for 9 months.

Personally I would not account for any rental income when costing for an apartment. So if you make a little to cover your yearly costs plus a bit then it's a bonus, as others have said maybe your out by a factor of 2 or 3 and with an average 10K per month rent per bedroom it's not really an investment IMO

[ge3]

I am considering buying a condo in the Hua Hin area preferably in Khao Takiap. I am thinking of investing 1.5 to 2.5 million baht, 2 bedroom with communal pool etc.

Dream on

4.5 to 6.5 more realistic

I guess I will have to dream on. I am not ruling out a 1 bedroom. Thanks for all the positive feedback. I would never pay 6.5 million. Ive seen houses for sale at that price. Im not looking for a long term investment but want to own something to stay in. Im just sick of renting everytime I come to HH and basically want to know the ins and outs of Thai Laws and pitfalls.

Personally I would not account for any rental income when costing for an apartment. So if you make a little to cover your yearly costs plus a bit then it's a bonus, as others have said maybe your out by a factor of 2 or 3 and with an average 10K per month rent per bedroom it's not really an investment IMO

So basically 10k per room per month sounds ok whilst Im not there.

[pitsch]

A house is usually cheaper than a condo of the same size. But condos are mostly nearer to the beach.

[hhfarang]

... and less maintenance (no gardening, etc.) plus better security. I would think a condo would be better for a part timer as you can just lock it up and leave for months at a time with few worries, whereas you have to hire a near full time caretaker to watch after your house and garden while you are away on extended trips or living abroad in another home.

[Takiap]

Yes, well said HHF. Unless you're living here for most of the year, or you actually enjoy throwing your money down the drain, a condo is a better option. Even when you actually live here full time as I do, owning a house requires a lot of work or money, or both. There always seems to be something that needs fixing or taken care of, whereas with a condo you only have the interior to worry about.


Also, I agree with the comments regarding prices, and unless the OP manages to find an old run down condo far out of town, I can't see 2 million baht being enough, especially if you want to be close to the sea or the center of town. By comparison, a mate of mine just bought a new 2 room condo in Bangkok for 2.5 million, but I can assure you, the same condo would cost more than 5 million in Hua-Hin. Him and his wife spent ages searching for a good deal here, but in the end they gave up. He could find houses in that price range here in Hua-Hin, but since their current house is in his wife's name, he wanted to have a place in his own name as well, in case things ever go wrong.


So, to the OP, if you're willing to settle for a reasonably sized studio, then you should manage to find something here in Hua-Hin.

[littlebird]

It always sounds like a good idea - a place of your own. But also think how many months you are going to live in it -costing out the rental against lost interest on money on the bank, and the freedom to go whenever you choose need to be taken into account.
I recently sold my house and am now renting a much better place for 10k a month, fully furnished.
Absolutely no regrets. The interest on the money in the bank from the sale accounts for a good proportion of my rental cost.

[Siani]

I am considering buying a condo in the Hua Hin area preferably in Khao Takiap. I am thinking of investing 1.5 to 2.5 million baht, 2 bedroom with communal pool etc.

Dream on

4.5 to 6.5 more realistic

Sorry to disagree Richard but they are there from about 1.5 million. I was offered an investment property in the Tweenporn apartments for 1 million baht last year! It is still on the market at 1.3 million. On the websites of some agents in HH, there are condos for 2.5 million. I just had a quick look. Yes, not the best of properties but I daresay they are open to offers. There was a project in Khao Takiab ..think it was called Seabreeze due to be finished next year, they were being offered at about 2 million. So Ge3 might just squeeze his dream in! If it is just a holiday bolthole only to be used about twice a year, a studio is fine. Ge3, dream on and you may find it!

[tonymaroni]

[/quote] "From ge3'

So basically 10k per room per month sounds ok whilst Im not there.[/quote]

But you would be very lucky to get that.
Empty condos abound throughout the year in Hua Hin.
Even now almost holiday season.
I can pick out whole buildings in my neighborhood
with nary a light turned on at night.
Why? Because there is not one person there.

High season is when you get the rental.
Not for the whole 9 months you are gone.

[crazy88]

Siani is quite correct on Taweeporn for a 28 sqm studio. Great complex BTW Better communal facilities than most of the high end beachfront stuff IMO. The OP however wanted a 2 bedroom place. If anyone has a condo in Takiap with 2 bedrooms for 1.5m at a halfway decent complex I would be amazed and seriously interested.

Crazy 88

[johnnyk]

"From ge3'

So basically 10k per room per month sounds ok whilst Im not there.[/quote]

But you would be very lucky to get that.
Empty condos abound throughout the year in Hua Hin.
Even now almost holiday season.
I can pick out whole buildings in my neighborhood
with nary a light turned on at night.
Why? Because there is not one person there.

High season is when you get the rental.
Not for the whole 9 months you are gone.[/quote]
Not all condo owners are falangs who are away most of the time.