Hi guys whittler here. I need some advice, I am in the process of selling my house here in the US, and the market is down the tubes. My son
said maybe I should rent the house, and make my move to LOS.
The problem would be after my bill's are paid, I will only have about,
$1,500 USD net. I know I couldn't live like a king, but could I live
comfortable ? I don't drink or smoke, but I would have a room w/air
internet, and a lady a couple nites a week.
Can I make it, or am I stuck in Indiana until the market breaks ?
Thanks,
whittler/ aka Mike
HELP
Can you ride a motorbike and eat local Thai food? If you stay away from the golf courses and do not drive a car you will be fine with your budget. No need for a car in Hua Hin. No parking spots and in the weekend they can hardly move. Plenty of motorbike taxi's and tuktuks around to bring you to the market, the shopping mall, the beaches, nightlife area etc. and also public transportation to Bangkok is good.
Only this could be a serious threat to your budget
Only this could be a serious threat to your budget
a lady a couple nites a week
We are all living in 'the good old days' of the future.
Whittler -
As mentioned just now in another post, we've had our home in California on the market for over two years and it looks like it could be another two or three before it sells.
Property taxes, insurance, lawn care etc. is going to eat up some of your income or savings which should be considered.....I don't know about the rental market for your area but we haven't been able to rent our house, and if we did, that has pitfalls of it's own.
Also don't forget if you want to go home once in a while that won't be getting any cheaper.
I know you want to get over here, and certainly you can get by on $1,500 a month, but if that's a marginal figure and you don't have a few hundred K in the bank for back up..........kind of risky IMHO.
As mentioned just now in another post, we've had our home in California on the market for over two years and it looks like it could be another two or three before it sells.
Property taxes, insurance, lawn care etc. is going to eat up some of your income or savings which should be considered.....I don't know about the rental market for your area but we haven't been able to rent our house, and if we did, that has pitfalls of it's own.
Also don't forget if you want to go home once in a while that won't be getting any cheaper.
I know you want to get over here, and certainly you can get by on $1,500 a month, but if that's a marginal figure and you don't have a few hundred K in the bank for back up..........kind of risky IMHO.
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Wanderlust
- Legend
- Posts: 2862
- Joined: Wed Aug 04, 2004 12:27 pm
- Location: Hua Hin
Broadly agree with Roel - at current exchange rates you will have 50,000 baht (I assume per month). I assume you will be renting a place to stay which will be the largest single expense but need not be that big depending what you want, but a cheap house would be about 10,000 a month, and then utility bills would be no more than 1500 a month. I just noticed you said 'a room with air and internet' so it is possible then to live cheaper. You will probably be eating out/from the street a lot, so your food budget could vary wildly depending on whether you can eat Thai street food or need your Western food fix; I would estimate the absolute minimum per day for food and drink is about 100 baht, so 3000 per month, but I can't see many farangs being able to stick to that, so a more realistic estimate would be at least double that. I can't advise on the girl front really but would guess your wishes (including bar fines and lady drinks) would cost about 3 - 4000 a week, so quite a big chunk of your budget every month.
You should also have some provision for illness, injury or accident built in - although health care is relatively cheap here in some hospitals you need to have the cash available before they will deal with you.
The other thing to bear in mind is exchange rates, if you are going to be accessing your money every month via bank transfers or the ATM - it is possible that you will have a lot more or a lot less in baht depending on the relative movements of the baht and the dollar - you should try and work out a worst case scenario - I don't think the dollar is likely to get much stronger than it is now, while the baht has been quite unstable in recent months; political and economic situations in both countries are uncertain so think about it very carefully. However by renting your house out you will always have a place to go back to if anything goes wrong, while you ride out the property slump. Just make sure you always have enough to get a plane ticket!
You should also have some provision for illness, injury or accident built in - although health care is relatively cheap here in some hospitals you need to have the cash available before they will deal with you.
The other thing to bear in mind is exchange rates, if you are going to be accessing your money every month via bank transfers or the ATM - it is possible that you will have a lot more or a lot less in baht depending on the relative movements of the baht and the dollar - you should try and work out a worst case scenario - I don't think the dollar is likely to get much stronger than it is now, while the baht has been quite unstable in recent months; political and economic situations in both countries are uncertain so think about it very carefully. However by renting your house out you will always have a place to go back to if anything goes wrong, while you ride out the property slump. Just make sure you always have enough to get a plane ticket!
For anyone planning budgets, another thing to keep in mind is inflation:
BANGKOK (AFP) — Thailand's inflation rate surged to a 10-year high of 8.9 percent in June, driven by sharply rising oil prices, the commerce ministry said Tuesday.
Fuel prices in Thailand rose 44.5 percent year-on year in June, while food costs were up 11.4 percent, the ministry said in a statement.
But the overall increase in food prices masked a steeper rise in prices for the staple grain rice, which jumped 35.8 percent, while pork costs jumped 31.6 percent.
For the first half of the year, inflation was at 6.3 percent, due mainly to rising fuel costs, the ministry said.
Thai inflation had already jumped to a 10-year high of 7.6 percent in May, and a central bank official warned Monday that the figure could reach double digits in July and August.
The inflation figures exceed Thailand's projected range of 5.0-5.5 percent for the year, and the commerce ministry warned that the forecast may have to be revised higher if global oil prices remain high.
"We still maintain our projection for Thailand's inflation rate at 5.0-5.5 percent this year," the ministry's deputy permanent secretary Pairoa Sudsawarng told reporters.
"But we may adjust the rate up to 7.0 percent if the oil prices remain over 120 dollars," he said.
The Bank of Thailand's monetary policymakers meet on July 16 to consider whether to raise interest rates to rein in inflation, amid growing expectations that rates will rise.
The bank's benchmark rate has been unchanged at 3.25 percent since August.
The bad inflation news comes as confidence is already weakening in Thailand due to five weeks of protests against the government of Prime Minister Samak Sundaravej, whose election in December ended more than a year of military rule.
BANGKOK (AFP) — Thailand's inflation rate surged to a 10-year high of 8.9 percent in June, driven by sharply rising oil prices, the commerce ministry said Tuesday.
Fuel prices in Thailand rose 44.5 percent year-on year in June, while food costs were up 11.4 percent, the ministry said in a statement.
But the overall increase in food prices masked a steeper rise in prices for the staple grain rice, which jumped 35.8 percent, while pork costs jumped 31.6 percent.
For the first half of the year, inflation was at 6.3 percent, due mainly to rising fuel costs, the ministry said.
Thai inflation had already jumped to a 10-year high of 7.6 percent in May, and a central bank official warned Monday that the figure could reach double digits in July and August.
The inflation figures exceed Thailand's projected range of 5.0-5.5 percent for the year, and the commerce ministry warned that the forecast may have to be revised higher if global oil prices remain high.
"We still maintain our projection for Thailand's inflation rate at 5.0-5.5 percent this year," the ministry's deputy permanent secretary Pairoa Sudsawarng told reporters.
"But we may adjust the rate up to 7.0 percent if the oil prices remain over 120 dollars," he said.
The Bank of Thailand's monetary policymakers meet on July 16 to consider whether to raise interest rates to rein in inflation, amid growing expectations that rates will rise.
The bank's benchmark rate has been unchanged at 3.25 percent since August.
The bad inflation news comes as confidence is already weakening in Thailand due to five weeks of protests against the government of Prime Minister Samak Sundaravej, whose election in December ended more than a year of military rule.
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Guess
- Deceased
- Posts: 3470
- Joined: Fri Jul 22, 2005 3:01 pm
- Location: BangSaphan. Laurasia. Sub thumb
Don't sell your house. The market will pick up again one day. If you can get 1,500 USD for renting then you can live here. Things can only improve (famous last words).
My wife and I live on less than that but it is a struggle and we smoke. The house is more than we need.
You should be able to pay all you housing costs, rent, electricity, water, laundry and gas for 10,000 Baht per month. (Maybe 12,000 if you want air-con).
Lets say you go out twice per week and spend 2000 Baht each nigh that is another 18,000 Baht per month. That leaves, at today's exchange rate at least 17.000 Baht for your food, local travel, cell phone, clothing and other entertainment. You don't have to eat Thai food all the time. There are many restaurants in Hua Hin where you can get western food cheaply. (Under 100 Baht).
You should be able to make it OK and still retain some for journey's home. You will have to be quite disciplined though especially with the ladies.
Good luck.
PS. The cost of running a 125cc motorcycle is negligible but the hospital fees when a drunken Thai knocks you off it are not.
My wife and I live on less than that but it is a struggle and we smoke. The house is more than we need.
You should be able to pay all you housing costs, rent, electricity, water, laundry and gas for 10,000 Baht per month. (Maybe 12,000 if you want air-con).
Lets say you go out twice per week and spend 2000 Baht each nigh that is another 18,000 Baht per month. That leaves, at today's exchange rate at least 17.000 Baht for your food, local travel, cell phone, clothing and other entertainment. You don't have to eat Thai food all the time. There are many restaurants in Hua Hin where you can get western food cheaply. (Under 100 Baht).
You should be able to make it OK and still retain some for journey's home. You will have to be quite disciplined though especially with the ladies.
Good luck.
PS. The cost of running a 125cc motorcycle is negligible but the hospital fees when a drunken Thai knocks you off it are not.
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I've been renting my home in London for the past 10 years and it's that income that keeps me here.
I'd agree with the other posters about your spending levels in HH, but one thing not to forget, if you're relying solely on rental income, are void periods in between tenancies and the general maintenance of your property. I don't know the costs in The States, but a month without income and essential maintenance in the UK can be expensive.
You'll need to be saving for emergencies not only here in Thailand, but back home as well.
Good luck.
I'd agree with the other posters about your spending levels in HH, but one thing not to forget, if you're relying solely on rental income, are void periods in between tenancies and the general maintenance of your property. I don't know the costs in The States, but a month without income and essential maintenance in the UK can be expensive.
You'll need to be saving for emergencies not only here in Thailand, but back home as well.
Good luck.