There are more than a few long term expats that have set themselves up for a financial shortfall in the future by renting long term. The money they have wasted paying rent all these years will be considerable. In the process they have helped someone else reach their own goals of a comfortable existence and keeping themselves in the rat race, smart move…NOT!! Why didn’t they buy a Condo years ago? It’s nothing to do with hindsight it’s just common sense. If you’re planning on living in most country's long term then buy a dwelling and don’t pay rent!! We can only dream of the price of a Condo 10-
Before you even consider coming to Thailand long term put in a few years of hard work and save so you can be released from the burden of paying rent. How low do you want to go? Live in a single room f..me some teachers do. I got to witness a teacher in his mid 50’s getting evicted where I stay. He was paying 16000฿ a month for the smallest 1 bedroom condo available. Although he was working full-
I was shocked when I first came to Thailand and got talking to more than a few married Thai women. Their western husbands were back overseas sending just enough money every month for them to survive!! They would come back to Thailand once a year or if she’s unlucky twice a year, staying 2 to 3 weeks at a time. Where was I talking to these women? Nana Soi 4 ……FFS.
All I thought was why would you even consider coming to another country and get in a serious relationship without having your finances in order? And lets not talk about f….king love…. FFS. I bet the women didn’t think they’d end up working in a beer bar when they first met their cashed-
Now to the Maths, made simple so that the smart people that have rented for a decade might actually get it. When it comes to property I have always had a 5 year plan and have never made a loss. Here in Thailand it’s 5-
The scenario: Two expats have 5½ M฿ each. One buys and one rents an identical 2 Bedroom Condo along Sukhumvit Rd. I wont even count for rent increases over 10 years just to keep it simple. I’d even predict the Sale Price would be considerably more than the number I used. The exchange rates are irrelevant if your are planning on staying until you drop. If not then a bit of common sense comes into play.
Lets see after 10 years where they both stand financially when it’s time to leave.
Start 5½ Million Baht Start 5½ Million Baht
Rent/week 30,000฿ Purchase price 5 Million Baht
Rent/year 3,600,000฿ Management fee yearly 24,000฿
Rent 10 years 3.6M฿ Management fee 10 years 240,000฿
Buy/Sell Fees 150,000฿
Value after 10 years 7 Million Baht
Total 1.9 Million Baht Total 6.61 Million Baht
How simple is that? There is nothing complicated. The guys that have rented for years will be. ‘No Way!!’…. HA HA FFS.
If you want to make money then Buy!! If considering buying then don’t under any circumstances take any advice from a long term renter. They will do their best to persuade you not to go done the path of buying. You’ve got to ask yourself, WHY? It’s more than likely that they’re cashless, live from pay packet to pay packet with the inability to save any sort of money that could change their circumstances.
Do yourself a favor and save, save, save for a few years. When you do decide to sell then you will be cashed up. Life is so much more simpler when not having to worry about paying rent. The Math Doesn’t Lie.
Nana Plaza again was the place to be this Thursday night and it seems every night until Soi Cowboy gets back on track. There are a few bars that I do need re-
There is a new bar on the top floor of Nana Plaza next to Billboards named Enter gogo bar. I’m not a fan of the name just yet but what I saw when I walked by looked good. The bar has been built from scratch using half of what was the old Bubbles gogo bar therefore it has a modern and clean feel.
Hooters has been quiet of late although Hillary 4 is so busy just opposite…. A few people at Hooters must be scratching their heads and asking themselves why aren’t they drawing a crowd like Hillary 4? The Freelancer numbers have swelled of late along Soi 4 notably just either side of Hooters. Another busy spot for Freelancers this Thursday night had around 8 (all women) standing on the footpath near Robinson's as you head towards Soi Cowboy.
Patpong on Thursday night was quieter than last week. Superstar gogo the busiest bar last week had a good group of dancers inside but only a few customers. The same can be said about Club Electric Blue who are located well within Patpong 2 which was overall quiet. Black Pagoda has re-
Tonight I couldn’t say one bar was really packing them in. Some were half full like Kings Castle 1 which in reality is quiet for them. Put that crowed in the Thigh Bar and they would have been busy. I actually found myself browsing through the Night Market whilst waiting for any bar to light up but sadly that never happened. With no live music it does take away from the atmosphere of Patpong but they are still much better than Soi Cowboy at this point in time.
Wow!! ‘are they open?’ That’s what I thought looking over at Soi Cowboy from Terminal 21. Talk about cringing as I turned into Soi Cowboy.. F…Meee okay just one walk through. The bars with bands are in silence f.ck, walk, cringe, walk, f.cking more cringing, f.ck…. Here is Soi Cowboy in a nutshell, dark with no atmosphere. I just cant BS anyone how I felt.
Spice Girls, Déjà Vu, Kiss, Midnight and the Rio Club who were closed last week were all open, with no Neon Lights you just keep on walking. The Suzie Wong 10 pm show is on hold for the time being but is still worth a look, they have a good group of gogo dancers inside.
I am a big fan of Soi Cowboy and the bars within, they defiantly have been hit the hardest of the three nightlife destinations with the current restrictions in place. Tourists who have never been to Soi Cowboy are best sticking to Nana Plaza or Patpong as both are lit-
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