Anyone having second thoughts?.

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Anyone having second thoughts?.

Postby Galee » Fri May 14, 2010 9:20 pm

Due to the ongoing political situation and the value of my hard earned pounds dropping, I'm delaying the start of my build. The wife's idea. Not mine.
Just wondering what the opinions of the members on here are?
Is there anyone who is in the middle of a build who's regretting it, or having second thoughts?
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Re: Anyone having second thoughts?.

Postby fredlk » Fri May 14, 2010 9:30 pm

Galee wrote:Is there anyone who is in the middle of a build who's regretting it, or having second thoughts?

No regrets and no second thoughts. Only a little more compromise needed and maybe sacrifice in order to get the house ready to move in plus a little more effort required in order to remain optimistic.
My problems are as they say luxurious ones. There are hundreds, thousands, millions of people in very bad situations so who am I to complain.
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Re: Anyone having second thoughts?.

Postby Nawty » Fri May 14, 2010 9:44 pm

I applied for a job overseas....thats how bad it is getting.
conwood is not real wood.....break it down 'con' to deceive...'wood'
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Re: Anyone having second thoughts?.

Postby ningnong » Sat May 15, 2010 1:46 am

Yes, it upsets us a lot, we were just talking about postponing our move. It is not just the capital cost of building, it is also the income/pension from the UK that may not be enough to support us in future. The rate dipped below 47B = 1GBP today, but has recovered a little now.

What we don't understand is how the currency of a country on the verge of civil war can be so strong - what is going on? However, our problems are nothing compared to the Thai citizens (and farangs) directly affected by the troubles.
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Re: Anyone having second thoughts?.

Postby Roger Ramjet » Sat May 15, 2010 2:31 pm

Yesterday we placed 10% down on our land after all the documents had been drawn up for signature. The rest will be paid at the land office by cheque. My wife insisted they add a clause that if we pulled out because of the political climate, all our money would be refunded. I have no second thoughts, just dreams. My wife, always the good accountant that she is (and works at Silom), is sceptical.

We both believe the reason the Thai baht is so strong against all the other currencies is that the Thai government is using reserves and money allocated for projects to prop up the currency. I hope I'm wrong.

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Re: Anyone having second thoughts?.

Postby rucus7 » Sun May 16, 2010 6:32 am

We are in too far into the build to stop. I am feeling anxious about what will happen when the current unrest is over. As a foreigner, I have very few rights. This was known to me prior to starting. So I guess no real second thoughts, just concerns about Thailand's political situation.
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Re: Anyone having second thoughts?.

Postby grant » Sun May 16, 2010 7:28 am

No second thoughts but looking into Malaysia.
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Re: Anyone having second thoughts?.

Postby harry+ratchanee » Sun May 16, 2010 6:21 pm

Think a foreigner can own land in Malaysia?

Hopefully the pound will pick a bit now the elections over?


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Re: Anyone having second thoughts?.

Postby grant » Sun May 16, 2010 6:29 pm

harry+ratchanee wrote:Think a foreigner can own land in Malaysia?


Harry and Ratchanee


Yes, a foreigner can own land freehold in Malaysia. In fact the entire process is welcoming and transparent. Land ownership, duty free privileges, mortgages, 10 year multiple entry visa, are just a few of the benefits of the Malaysia My Second Home Program. Google it and you will come up with loads of info. I love Thailand but one begins to wonder when/if they will ever get their act together. I sometimes feel like the guy in Nawty's profile pic :)
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Re: Anyone having second thoughts?.

Postby harry+ratchanee » Sun May 16, 2010 7:10 pm

Hi
thanks for reply.
dont take this the wrong way, not racist!! other half is obviously Thai but I think Malaysia is mainly Muslim ??
Would that cause any problems??
Beautiful country though.
Cheers

Harry and Ratchanee
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Re: Anyone having second thoughts?.

Postby thomas.fontaine » Sun May 16, 2010 8:03 pm

grant wrote:No second thoughts but looking into Malaysia.


Funny that you mentioned Malaysia. I just bought a house in Malaysia 2 weeks ago, actualy gave the 2% booking fee to the agent before cancelling the purchase the week after. Luckily, I had asked for a 5 days grace period when signing the letter of offer and therefore managed to get back my 2% from the agent without trouble. Reasons being:

- Loans offered by Malaysian banks are really not good deal: fully flexible rate from day 1 with loan interest indexed on the BLR (Base Landing rate) which fluctuated from 5% to more than 12% few years ago + what they call this lock-in period of 3 to 5 years during which you pay 3% to 5% penalty on the initial total loan amount if you sell the property. You can therefore end up with totally uncontrolled payment and having to pay a 5% penalty in case you decide to get rid of your property!!!

- In less than one week, the euro dropped by another 10%, after having dropped by 20% during the last 6 months

- Property market in Malaysia didn't look very sain to me. It is purely based on speculation with empty houses changing hands every 6 months to make quick profit. It is a pure bubble at the moment, with prices not reflecting the true value of properties.


To go back on the subject of this post, if I had now a build project in Thailand, no doubt I will postpone it untill exchange rate is more favourable. I am glad mine did materialise when euro was still fluctuating between 45 and 50 bahts.
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Re: Anyone having second thoughts?.

Postby harry+ratchanee » Sun May 16, 2010 8:18 pm

Hi guys
I love Thailand -so will stick with what I know.
Just hope the pound picks up before we start our build next year in Chaing Mai area.

Harry and Ratchanee
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Re: Anyone having second thoughts?.

Postby setaputra » Wed May 19, 2010 1:09 pm

Roger Ramjet wrote:Yesterday we placed 10% down on our land after all the documents had been drawn up for signature. The rest will be paid at the land office by cheque. My wife insisted they add a clause that if we pulled out because of the political climate, all our money would be refunded. I have no second thoughts, just dreams. My wife, always the good accountant that she is (and works at Silom), is sceptical.

We both believe the reason the Thai baht is so strong against all the other currencies is that the Thai government is using reserves and money allocated for projects to prop up the currency. I hope I'm wrong.

Roger Ramjet


You are absolutely right. Both the Bank of Thailand and the top families. Precisely what happened in the last financial crisis. The big boys make millions.
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Re: Anyone having second thoughts?.

Postby setaputra » Wed May 19, 2010 1:13 pm

Roger Ramjet wrote:Yesterday we placed 10% down on our land after all the documents had been drawn up for signature. The rest will be paid at the land office by cheque. My wife insisted they add a clause that if we pulled out because of the political climate, all our money would be refunded. I have no second thoughts, just dreams. My wife, always the good accountant that she is (and works at Silom), is sceptical.

We both believe the reason the Thai baht is so strong against all the other currencies is that the Thai government is using reserves and money allocated for projects to prop up the currency. I hope I'm wrong.

Roger Ramjet


You are absolutely right. Both the Bank of Thailand and the top families. Precisely what happened in the last financial crisis. The big boys make millions. When they're done, the baht will weaken and together with a slightly improving ( or not worsening ) pound the rate should be better for us. Well, I hope anyway. Remember the power of prayer, guys
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Re: Anyone having second thoughts?.

Postby runker » Thu May 20, 2010 2:36 am

Wife bought our land when the rate was 45bt to 1usd. Still a few years out before we build so who knows what the rate will be then.
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