House market in Hua Hin

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didmar
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House market in Hua Hin

Post by didmar » Sun Nov 19, 2017 3:38 am

Hello,
I'm new to the forum, I am considering buying a house in Hua Hin and find quite an amount houses on the market, I am interested in knowing if the market is going well or if there is a pressure on the prices due to overstock. It is not for a short term investment but would be interesetd to have comments on the market, is it performing well, prices are going up or being pressured ? what is the negotiation margin on new or second hand houses ? I see a lot of developpers projects are these sound ? I wonder if they are overprices compared to the market or if there is there as well a margin for discussion. I would appreciate any experience sharing or feedback . Many thanks.

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Re: House market in Hua Hin

Post by oakdale160 » Sun Nov 19, 2017 5:30 am

If it flies, floats or Fu*** --Rent, don't buy.

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Pagey
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Re: House market in Hua Hin

Post by Pagey » Sun Nov 19, 2017 9:23 am

oakdale160 wrote:
Sun Nov 19, 2017 5:30 am
If it flies, floats or Fu*** --Rent, don't buy.
As he's talking about a house it does none of those so you are recommending a buy. :cheers: :laugh:
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Dannie Boy
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Re: House market in Hua Hin

Post by Dannie Boy » Sun Nov 19, 2017 9:44 am

didmar wrote:
Sun Nov 19, 2017 3:38 am
Hello,
I'm new to the forum, I am considering buying a house in Hua Hin and find quite an amount houses on the market, I am interested in knowing if the market is going well or if there is a pressure on the prices due to overstock. It is not for a short term investment but would be interesetd to have comments on the market, is it performing well, prices are going up or being pressured ? what is the negotiation margin on new or second hand houses ? I see a lot of developpers projects are these sound ? I wonder if they are overprices compared to the market or if there is there as well a margin for discussion. I would appreciate any experience sharing or feedback . Many thanks.
To answer the points you have asked, is the market going well? Not really, there is over supply which puts downward pressure on prices. Don’t consider buying as an investment as you will probably lose money. It’s a buyers market, so you should be able to negotiate a reasonable discount from the offered price (15-20% should be possible on second hand housing, less on new developments). Check every development carefully, be cautious of new developments - will they get finished?

Many people recommend not buying but it depends on your circumstances - if you have a Thai wife and a life expectancy of say 20 years, you would save a huge amount on the yearly rental, plus you have an asset to leave your wife. Not everybody will be in this situation so it really depends on your personal circumstances.

Probably the best piece of advice that most people advocate is rent for a minimum of 6 months to look for the house of your dreams - in most cases there is no rush and if you get it wrong, it could turn out to be an expensive mistake.

Good luck!!

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Re: House market in Hua Hin

Post by Pagey » Sun Nov 19, 2017 9:48 am

Good advice from Dannie Boy.
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Re: House market in Hua Hin

Post by Big Boy » Sun Nov 19, 2017 9:59 am

I think it's the same the world over. The answer is yes and no. There are good and bad - as DB says though, rent, take your time and buy something you really want, if you are sure.

I've bought, I'm happy and will live here until I die, so the onsale market does not bother me. However, there are 4 houses for sale literally within a stone's throw of my house (all grossly overpriced), that have been on sale for 2 years, and I'll be surprised if they ever sell (must be something to do with the neighbours :D ).

Buying as an investment? Be careful.
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StevePIraq
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Re: House market in Hua Hin

Post by StevePIraq » Sun Nov 19, 2017 11:05 am

There is massive oversupply of houses and condo's in Hua Hin. Thailand does not seem to understand there needs to be a link between buyers and sellers so they just keep on building. Whether this is because of tax breaks or whatever who can tell.
Trying to sell a used home is extremely difficult unless you have something spectacular and will also accept a give away price.
Don't buy quickly, rent for 6-12 months, get to understand the market, find a nice area that suits you and maybe rent again on that area before committing to buy.
If you do buy be very cautious as to who's name the property is registered in, if not married buy before you marry.
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Re: House market in Hua Hin

Post by Midsman » Sun Nov 19, 2017 1:38 pm

I have bought in Hua Hin. But I have bought a home not an investment.

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Re: House market in Hua Hin

Post by StevePIraq » Sun Nov 19, 2017 2:03 pm

Midsman wrote:
Sun Nov 19, 2017 1:38 pm
I have bought in Hua Hin. But I have bought a home not an investment.
It's a home until circumstances dictate you have to sell.
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Re: House market in Hua Hin

Post by Midsman » Sun Nov 19, 2017 5:49 pm

Circumstances will not come up where I will need to sell. You know nothing about my circumstances so why comment ?

As I said I have bought a home.

Dont spend money in a country like Thailand what you cannot afford to lose.

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johnjar
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Re: House market in Hua Hin

Post by johnjar » Sun Nov 19, 2017 7:47 pm

Circumstances are unique to each individual, you buy a home because you want a home, the same as myself, and then when we fall off the the perch, we pass our home on to our loved one's, never mind the investment b####cks :)

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Re: House market in Hua Hin

Post by didmar » Mon Nov 20, 2017 1:24 am

Thanks for your comments,
it's a house to live in so the resale market is secondary at this stage, it's more about the current prices and if they're not overpriced.

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Re: House market in Hua Hin

Post by Big Boy » Mon Nov 20, 2017 6:55 am

Again, some are grossly overpriced, some are selling at a reasonable price. The houses near me are on sale at double their sensible market value. You have to look around and decide what is a fair price before parting with any cash.
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Re: House market in Hua Hin

Post by johnjar » Mon Nov 20, 2017 8:25 am

Big Boy wrote:
Mon Nov 20, 2017 6:55 am
Again, some are grossly overpriced, some are selling at a reasonable price. The houses near me are on sale at double their sensible market value. You have to look around and decide what is a fair price before parting with any cash.
The house market is the same the world over, its all about location location, and the area you live Soi Bonkai is one of the the more sought after locations in Hua Hin, and should sell easily at a fair price.

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Re: House market in Hua Hin

Post by dundrillin » Mon Nov 20, 2017 12:22 pm

There are some very good comments above. I doubt there is a massive oversupply in HuaHin,some developers have very impressive sales. That maybe due to them allegedly paying estate agents 7% commission. This in turn, in my experience at any rate leads agents to steer you away from re-sales when you are house hunting.For someone who is looking for a HOME and not to fussed about the short term investment value there are some good offers out there.

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