Why only new developments?

[DawnHRD]

This is a genuine question to those who have just bought, or are considering buying in the near future.

I was having lunch with a friend, yesterday, who is trying to sell her house. I haven't visited her house, but it sounds very nice, with a huge garden. She has been trying to sell it for a number of months now, with no success & has actually remodelled the garden 3 times, in an effort to make her property more marketable. She's not being greedy on the price, either.

I have friends in Cha-am who have been trying to sell their fair sized house (also on a fair bit of land) for at least 18 months, if memory serves me correctly.

A 3rd couple have just moved after successsfully selling their lovely wooden house in a gorgeous garden. Their place had been on the market for years, and she used to regale me with tales of the people who would come & look at it & be downright rude. Let me tell you, I loved her house & would have taken it in a minute (had I had any money! )

So, from my friends' experiences, I would say that the housing market is in decline, but, on here, I read of all the people coming out here to buy - and we all have to admit, that developments are springing up all over the place. Which leads me to the conclusion that people buying only want new houses on new developments. My question is - why?

Is that all people are being shown by the agents? Do they only want to live with other farang in nice little estates like home? Is it because developers promise to help with the purchase (formation of company etc). The last friend I mentioned, used to say that it was the Thai wives/gf's that were the sticking point with her property - they didn't want to live anywhere "Thai" and they would be very snooty & dismissive. But that doesn't apply to the other friends.

So, if anyone has bought or is buying on a new development, can you tell me why you chose there, rather than an individual "previously owned" house, elsewhere? I'd be interested to hear if it's a reason I hadn't even thought of.

And, of course, the spin-off is, if you decide to sell up & move, will you be able to find a buyer?

[migrant]

I think many feel a new house is better. New fixtures, etc.

Of the 7 houses I've bought, and sold, throughtout my life I always like the lived in ones and avoided the new houses.

I've also felt the deals were better!

[redzonerocker]

if i do buy/rent in thailand which is a distinct possibility, it wouldnt be on any new complex. i would prefer an older 'lived in' style of house.
some of the new estates & communities i have seen on my travels around thailand remind me to much of the western housing complexes.all to similar in design & not a lot of character.
i don't see the point of moving to the other side of the world to live as i did in the uk.i would prefer to live in the local community & be amongst the locals.
when i want to mix with my fellow westerners & can always go to the local bars

[gooze]

Dawn,

Some interesating points you have made.

95% of the preoperties we have sold are as you say "new developments" it is not that we are pushing these projects it is simply that this is what the customers have requested.

I think there is a little western thinking behind this and to simplify it I beleive it is the "why should we buy something second hand when we can have a new one?'

As many of these properties are second homes I do understand the need to be on secure estates.

The most interesting point you made was on the Thai wifes/gf this is indead the case however it is not that they wouldnt want a big new house on a Thai development, they basically just want a big new house. (not allways but generally in my experience its a face thing)

I took out a customer a while back to see a stunning four bedroomed place on Palm Hills over 20 million. The Thai gf whom im sure never worked in a bar!, walked arround sour faced and misserable when asked by Mrs G what the problem was she was upset that the house was neither big enough or exspensive enough.

We went out that evenning only to find out this couple had only been together 6 weeks and the real reason she was pissed of was that her partner was overheard discussing with me the Ltd Co, lease options open tp him. To every story there can be a silver linning he was so upset he binned her.

Back to the pre used houses it is my general view that the re-sellers not allways but generally are greedy. The maygority overprice there properties considerable. Hence making new build houses more attractivly priced as well.

Please everyone note these are my personal views and are a general overview in my oppinion I do not wish to get in to a slagging match with anyone.

[gaijin]

Interesting observation. If I had the money then it wouldn’t trouble me if it was new or old. I don’t have the money, so that is the end of it. As a matter of interest Dawn, what price range houses were you talking about?

[redzonerocker]

valid points gooze, so there should be no need for disagreements to evolve.
everyone has their own opinions of their preferred dwelling.as you say, developers design & build to the current customer demand, which is of distinct western design. thats fine by me but just not for me.
i do have to say though, hua hin does have better quality designs than a lot of places i saw around thailand.

[JW]

Interesting thread,

Gooze is correct when he says that most resales are over priced, the new developments give better value for money.
The quality of houses being built is also better now, the market is getting more mature and some good builders are here offering good homes, maybe a million baht more but the customer is happy to pay.
Another big factor is personal choice - most new builds will give some degree of customisation - the buyer can make the house suit their needs - it makes it feel much more personal.
Housing moves with the times, what was in vogue 2 years ago no longer is - people seem to like more simple colours and tile options now - the resale house is now dated.
The house which was sold by Dawns friend was a miracle sale in my opinion - and that is exactly the point, i couldnt believe that the client bought it, but he loved it.

[Chas]

We bought an older home in an older development and are very happy with it. Remodeling is still in progress, but it is just perfect in location, size and neighborhood. We looked at many older homes. .something I prefer, a couple with large gardens. ( The spouse got the feeling that the nicest one was haunted so that took care of that!) But in visiting Thai homes and in seeing the single family abominations that are springing up around Palm Hills ( don't get me started on that one again) There is something in the Thai mentality that equates bigger, gaudier and more expensive with better and more beautiful. I have toured a couple of Thai homes with the proud owners telling me what every single piece of furniture cost. I have stayed in another home with lovely friends where the living room is big enough for regulation basketball, completely tiled floor to ceiling in pink and blue tiles and bare of furniture except for a sink at one end and two cupboards at the other. I am convinced that Thai people in general ( yes I am generalizing and this is my own opinion based on what I have seen) would not consider attractive a small, tasteful, beautifully decorated home.. . or an older home that might need a facelift or a bit of renovation. If you've got the money, flaunt it! Buy new.

The other thing is neighborhood. A farang neighborhood is very different from a Thai neighborhood and I am sure everyone who lives here can fill in the positives and the negatives on this point.

[gaijin]

I have seen a place (ott) where all the price tags had been left on by the proud owners wanting to display their wealth and how much they had spent on decor and how litttle they had in taste.

[Mack111]

the reason i bought a new development was i couldn't be there that often so it was a gated community which provided some security and i was able to play about with the design a bit

plus just as you point out, its the trend which means if i want to sell it i'll have more possible customers, i guess once the cycle starts its hard to break it due to all teh knock on effects

[ozuncle]

We looked at many homes both established and new.

In my opinion Thai thinking is the major influence.

They are so superstitious that they are not prepared to run the risk of ghosts being in residence. (Possibly the reason that the place is for sale.)

We bought a new house and have not moved in yet but the spirit house was the first thing that had to be attended to.

[PeteC]

In our case Dawn we looked and looked for months for a good used home of reasonable vintage. When we finally found one, we got beat at the finish line by a day by someone else. We then opted to build as not that much of selection where we're going as compared to HH or Pattaya.

I would really love to buy turnkey and not have to worry about furniture, drapes, screens and the thousand other things needed after the actual construction is completed.

Hell, you can always re-paint and change some things slowly after you move in. With a new house you don't have that option or luxury, it's panic buying of things before you can move in.

Another option is to get a bank listing of their repossessions. Every bank has one and some places have been vacant since the 1997 crash. They look old now but really aren't as they haven't been occupied at all, or for long. The banks will deal on these properties just to get some of their money back. I would say for an 500K baht you could put them right and sparkling as new again. I found two like this but simply didn't like the neighborhood, the houses were fine. HH being more of a new location, perhaps not as many of these down there as over here. Pete

[dr dave soul monsta]

some of the new estates & communities i have seen on my travels around thailand remind me to much of the western housing complexes.all to similar in design & not a lot of character.
i don't see the point of moving to the other side of the world to live as i did in the uk.i would prefer to live in the local community & be amongst the locals.

Who wishes to live on a council estate type development where you look out your window and all you can see is some fat hairy European taking a shower, or lean out of the window into your neighbors kitchen to ask to borrow a cup of sugar

[caller]

Dawn,

By choice I would prefer not to live on an estate, or only a smaller one if that was how it turned out.

I have looked at a few 2nd hand homes - after all that is what the average Brit (me) buys back home and all I can say is you get a feel if it is right for you. One I looked at was huge, but the gardens were on the small side, location was good. For another, it was the design of the place.

I can see the attraction of new homes, nice showhouses etc. But worry I will end up on a half developed site that is never finished.

Surprised to hear there was a wooden house for sale - that would have interested me!

But the bottom line is that there appears no real difference in price between new and resale, so for Brits maybe it does come down to an appearance of overpricing - as in the UK new is usually more.

But your post does confirm my view that for the middle range houses, they are not much of an investment any more and the only thing I can see changing that is if there is a control of sorts on building new developments.

[STEVE G]

Caller wrote:

Surprised to hear there was a wooden house for sale - that would have interested me!

Over the last year someone has built a very nice wooden house on Soi 14, I imagine they must be Thais and it is beautifully finished. I should think it cost an awful lot to construct but I would do the same if I had the money to spare.