House hunting in Udon

[darrenm]

My wife and I are looking to buy a house in Udon to spend our winters.

We have noticed that houses are reducing their asking prices and wondered why?

We also are looking for pointers on where would be the best location to by a house when we reurn in December?

Darren

[FrazeeDK]

in my opinion, you'll see reduced prices because the original asking price was ridiculous and it won't sells. My observation is many folks come over here and build their "dream" house. Their idea of a "dream" house may not match yours or many others so its resale value is impacted. Generally, the reduced prices will be for individually owned houses, not those new houses sold on tract housing by realty companies.

[Sakhonnick]

i cant comment on where to buy in Udon but here is my take on houses in Thailand

Ive had 2 of them in Pattaya both sold now and both at a loss of 30% each

Both had pools, massive mistake they end up being a garden feature and cost a fortune to maintain, not just on water just cracks and tiling grout issues etc

The loss is calculated on what I put into these houses, from what was sold by the developers, i.e a/c furniture, kitchens, curtains, gardens etc

so when you see a house for sale im sure the owner is calculating all the extras they have put in themselves, so for second hand houses shop around and offer 20% - 30% less or buy new off plan and add the 30% yourself

My new house in Sakon I bought cheaper and offplan but have put 35% extra into it to make it my style, but this time no friggen pool and I have no intension of selling it at a loss as im very happy living in Esarn and for what I seen during building was far superior to the nonsense that was built in Pattaya

[Sakhonnick]

Just to add I lost 30% but one of them I made that back on renting out and the other I lived in for 8 years so I look at that experiences as broke even, but with a lot of pain to go with it with maintenance

Talking about maintenance: if your only here for a few months a year id rather buy a small condo, easy to maintain, easy to lock up, yes less space but hassle free

[parrot]

Udon has been undergoing rapid development (some might say, "out of control") the past 2 years, and all eyes are on the AEC in 2015.......3000 condo units in the works, industrial area, plans for a high-speed railway, new city university, many new subdivisions and home improvement centers......while little in the way of improvements in city streets. So what might be a nice area to live today could turn out to be a bad area in the near future.
If you're only here for the winter months, I'd be more inclined to renting a fully furnished home....many available at reasonable costs. If after a season or two you better understand the area/development, then maybe buy.
Leaving a home unoccupied for the hot season (March-May) and the rainy season (May-Sept/Oct) would not be high on my list of things to do. If you buy a home, you're pretty much stuck where you buy.......if you rent, you can pick up and move in a flash. Some will argue that the value of their home/land has shot up over the past few years......true true true.....but value is one thing....what you can actually sell if for is another. Thais aren't really keen on second hand homes and even less keen on homes designed by falangs. That's not to say they can't be sold.......just that you might have more problems selling than you'd expect.
Bottom line, my advice: come over for a winter, rent, get a good feel for life here, and then decide whether you want to buy. Coming here as a tourist is one thing.....coming here for long stays is quite another.
Good luck!

[semperfiguy]

Udon has been undergoing rapid development (some might say, "out of control") the past 2 years, and all eyes are on the AEC in 2015.......3000 condo units in the works, industrial area, plans for a high-speed railway, new city university, many new subdivisions and home improvement centers......while little in the way of improvements in city streets. So what might be a nice area to live today could turn out to be a bad area in the near future.
If you're only here for the winter months, I'd be more inclined to renting a fully furnished home....many available at reasonable costs. If after a season or two you better understand the area/development, then maybe buy.
Leaving a home unoccupied for the hot season (March-May) and the rainy season (May-Sept/Oct) would not be high on my list of things to do. If you buy a home, you're pretty much stuck where you buy.......if you rent, you can pick up and move in a flash. Some will argue that the value of their home/land has shot up over the past few years......true true true.....but value is one thing....what you can actually sell if for is another. Thais aren't really keen on second hand homes and even less keen on homes designed by falangs. That's not to say they can't be sold.......just that you might have more problems selling than you'd expect.
Bottom line, my advice: come over for a winter, rent, get a good feel for life here, and then decide whether you want to buy. Coming here as a tourist is one thing.....coming here for long stays is quite another.
Good luck!

Great post Parrot...and even better advice for the guy who has just moved here full time and is ready to settle down with his new "honey".

[747man]

My wife and I are looking to buy a house in Udon to spend our winters.

We have noticed that houses are reducing their asking prices and wondered why?

We also are looking for pointers on where would be the best location to by a house when we reurn in December?

Darren

Darren, Forget Udon too crowded,too busy,Nong-Khai 50 kms away is nice & My house is for sale,See it in The Classifieds Section or come & see for yourself,I Reckon you & The Wife would love it here, Very Quiet & Peaceful......Alan.

[darrenm]

My wife and I are looking to buy a house in Udon to spend our winters.

We have noticed that houses are reducing their asking prices and wondered why?

We also are looking for pointers on where would be the best location to by a house when we reurn in December?

Darren

Darren, Forget Udon too crowded,too busy,Nong-Khai 50 kms away is nice & My house is for sale,See it in The Classifieds Section or come & see for yourself,I Reckon you & The Wife would love it here, Very Quiet & Peaceful......Alan.

Good one Alan I like it!!

[darrenm]

Udon has been undergoing rapid development (some might say, "out of control") the past 2 years, and all eyes are on the AEC in 2015.......3000 condo units in the works, industrial area, plans for a high-speed railway, new city university, many new subdivisions and home improvement centers......while little in the way of improvements in city streets. So what might be a nice area to live today could turn out to be a bad area in the near future.
If you're only here for the winter months, I'd be more inclined to renting a fully furnished home....many available at reasonable costs. If after a season or two you better understand the area/development, then maybe buy.
Leaving a home unoccupied for the hot season (March-May) and the rainy season (May-Sept/Oct) would not be high on my list of things to do. If you buy a home, you're pretty much stuck where you buy.......if you rent, you can pick up and move in a flash. Some will argue that the value of their home/land has shot up over the past few years......true true true.....but value is one thing....what you can actually sell if for is another. Thais aren't really keen on second hand homes and even less keen on homes designed by falangs. That's not to say they can't be sold.......just that you might have more problems selling than you'd expect.
Bottom line, my advice: come over for a winter, rent, get a good feel for life here, and then decide whether you want to buy. Coming here as a tourist is one thing.....coming here for long stays is quite another.
Good luck!

Thnak for your comments. Can I ask " do you thing there will there be house prrice inflation over they 2 years if we do rent?"
Darren

[darrenm]

Just to add I lost 30% but one of them I made that back on renting out and the other I lived in for 8 years so I look at that experiences as broke even, but with a lot of pain to go with it with maintenance

Talking about maintenance: if your only here for a few months a year id rather buy a small condo, easy to maintain, easy to lock up, yes less space but hassle free

Thanks for your comments. Do you think a condo is a wise investment?

Darren

[747man]

My wife and I are looking to buy a house in Udon to spend our winters.

We have noticed that houses are reducing their asking prices and wondered why?

We also are looking for pointers on where would be the best location to by a house when we reurn in December?

Darren

Darren, Forget Udon too crowded,too busy,Nong-Khai 50 kms away is nice & My house is for sale,See it in The Classifieds Section or come & see for yourself,I Reckon you & The Wife would love it here, Very Quiet & Peaceful......Alan.

Good one Alan I like it!!

Darren, Give me a Ring if you're interested......0879371181.......

[parrot]

Can I ask " do you thing there will there be house prrice inflation over they 2 years if we do rent?"
Darren

I'd say 'sure!'. But that doesn't mean the inflated price reflects the real value.

Renting for a year or two will give you insight into day-to-day living conditions.....impact of weather, traffic, zoning (or lack thereof), noise levels, pollution, etc. What's it like in a neighborhood when it rains 5" or more in an hour or two? What happens in neighborhoods at night......karaoke, motorcycles, dogs, etc? What's the quality of construction of different neighborhoods? How far to the nearest hospital (if that's a concern of yours)? etc. Questions that you won't be able to answer on a short visit here....but after a year or two of checking things out, you'll have much more insight into living conditions. If you choose to buy then, the knowledge you gain will far outweigh any inflation in house prices.......IMO.

As far as condos go.....Udon is new to the condo scene. Some might do well, but I'll wager that more will become eyesores due to poor management. I think it's too early to tell which ones will thrive. And, at around 1.5 million for 30ish sq meters of living space, you're talking less space than a studio apartment back in the US. But, renting a condo for a year might not be all that bad....come here with a few suitcases and you're not worried about having a lot of space.

[darrenm]

Can I ask " do you thing there will there be house prrice inflation over they 2 years if we do rent?"
Darren

I'd say 'sure!'. But that doesn't mean the inflated price reflects the real value.

Renting for a year or two will give you insight into day-to-day living conditions.....impact of weather, traffic, zoning (or lack thereof), noise levels, pollution, etc. What's it like in a neighborhood when it rains 5" or more in an hour or two? What happens in neighborhoods at night......karaoke, motorcycles, dogs, etc? What's the quality of construction of different neighborhoods? How far to the nearest hospital (if that's a concern of yours)? etc. Questions that you won't be able to answer on a short visit here....but after a year or two of checking things out, you'll have much more insight into living conditions. If you choose to buy then, the knowledge you gain will far outweigh any inflation in house prices.......IMO.

As far as condos go.....Udon is new to the condo scene. Some might do well, but I'll wager that more will become eyesores due to poor management. I think it's too early to tell which ones will thrive. And, at around 1.5 million for 30ish sq meters of living space, you're talking less space than a studio apartment back in the US. But, renting a condo for a year might not be all that bad....come here with a few suitcases and you're not worried about having a lot of space.

Thanks for your input. I agree that once you commit to buying a house, you may be there some time and you may not get your money back what you paid. Renting is the way forward. The Mrs will disagree. Somewhere in the middle will be the answer!

[darrenm]

i cant comment on where to buy in Udon but here is my take on houses in Thailand

Ive had 2 of them in Pattaya both sold now and both at a loss of 30% each

Both had pools, massive mistake they end up being a garden feature and cost a fortune to maintain, not just on water just cracks and tiling grout issues etc

The loss is calculated on what I put into these houses, from what was sold by the developers, i.e a/c furniture, kitchens, curtains, gardens etc

so when you see a house for sale im sure the owner is calculating all the extras they have put in themselves, so for second hand houses shop around and offer 20% - 30% less or buy new off plan and add the 30% yourself

My new house in Sakon I bought cheaper and offplan but have put 35% extra into it to make it my style, but this time no friggen pool and I have no intension of selling it at a loss as im very happy living in Esarn and for what I seen during building was far superior to the nonsense that was built in Pattaya

Thanks for your reply.

Swimming pools do not do it for me too. Putting your own touch to a house can be an expensive hobby. I saw a nice house : http://www.udonrealestate.com/10435.asp

Well spaced out in it's own grounds with privacy. But it looks like it needs work done to it. And the location may not be ideal.
If i could get a house with this size and space in a development near the town centre and close to all amenities. With a good road structure, electric,water,wifi and good neighbours with 24/7 security i would be happy....

[trubrit]

Thanks for your input. I agree that once you commit to buying a house, you may be there some time and you may not get your money back what you paid. Renting is the way forward. The Mrs will disagree. Somewhere in the middle will be the answer!

Having just received an offer on my house out on NWS which is triple the sum I paid just ten years ago this is my advise.
I agree with some of the above comments about house inflation within Udon has flattened but this is not because of lack of demand but simply it appears the ceiling has been reached. This has had the effect of pushing prices in neighbouring areas, not too far out , up .In my village for example in just ten years, based not only in my experience but on figures available at the local land office, an average one rai building plot in a good location has gone from 250k to over 1 mill. This in turn has increased accessible farm land from 80k to 250k per rai, which when you take into account the cost of infill , which has also doubled, is almost a similar increase .By comparison, although I don't have available statistics, the actual building costs, have in my estimation, only doubled. This leads me to suggest that the middle way for you would be to do as some suggest, rent for a couple of years, getting to know the location before putting roots down, but buy a suitable piece of land nearby right now .You will find this to be easier to sell should you want to move on, but it will also enable you to counteract the most visible inflation factor . Who knows the profit might even cover your rent outlay.

[Sakhonnick]

My opinion again> If you do want to buy (because you like the idea of something being yours other than renting) and your only here for a few months id buy a small condo, If your here full time id buy a house but shop around.

However renting can be cheap, easy to move out, but it never feels like home, there is not much pride, you might want to do changes and cant, If I were to rent id get a long term lease and an empty house and kit it myself if it was allowed.

But the number one advice I can give anybody here, do not invest more than you are willing to walk away from, ok not much would will walk away from a house but if you buy something that's cheap enough it wont hurt as much if something happens.

But everyone different, you could buy a small house for 1 million and not worry if you lost it, the next guy could buy one for 10 million and again not worry if he lost it. id maybe say don't spend more than what you can earn NET per year, then its only 1 year of work you "might" loose

[darrenm]

My opinion again> If you do want to buy (because you like the idea of something being yours other than renting) and your only here for a few months id buy a small condo, If your here full time id buy a house but shop around.

However renting can be cheap, easy to move out, but it never feels like home, there is not much pride, you might want to do changes and cant, If I were to rent id get a long term lease and an empty house and kit it myself if it was allowed.

But the number one advice I can give anybody here, do not invest more than you are willing to walk away from, ok not much would will walk away from a house but if you buy something that's cheap enough it wont hurt as much if something happens.

But everyone different, you could buy a small house for 1 million and not worry if you lost it, the next guy could buy one for 10 million and again not worry if he lost it. id maybe say don't spend more than what you can earn NET per year, then its only 1 year of work you "might" loose

GOOD STUFF NIK. Cheers

We return this December for a few weeks. Promised the Mrs. we would put some of our hard earned money into Udon by way of a house/land/condo. We will be starting out next winter by staying for 3 months dec/jan/feb. Then returning to the UK. Back to Udon in Dec or Nov 2014 for another 3 months and so on.
Maybe a house left unoccupied for 9 months a year is not a good idea! Buying 1 Rai of land and even a condo in central Udon may be a good idea. Are there any condos that will be ready for the winter of next year? and 1 rai of land in the right place after thoughtful consideration for the correct amenities.. Leave the land until we are ready to build our dream home or sell when the times right and enjoy the appreciation on the land.
The wife is coming over a bit earlier than me this year. When I arrive she will have a house already picked out. This is the problem. Keeping the Mrs Happy and doing the right thing. My wife is useless with money and always thinks with her heart. A happy wife is a happy life as they say. Convincing her that renting is the way forward will be hard for a simple country girl to grasp. Any advice other than what you have already said would be appreciated.
Buy her some Thai gold!!

[farlong68]

correct and the gold you can take with you and has been known to get you past a closed border or any other tight places just saying john

[Prenders88]

Avoid buying on the Bansansaran estate (Lake Garden City).

The management company fizzled out, because the majority of residents did not want to pay the 300 baht a month charge.

The first casualty was the 24 hour security, now gone, the pill box is empty with the barriers left up.
Heard last night the the street lights will be turned off soon.

[semperfiguy]

GOOD STUFF NIK. Cheers

We return this December for a few weeks. Promised the Mrs. we would put some of our hard earned money into Udon by way of a house/land/condo. We will be starting out next winter by staying for 3 months dec/jan/feb. Then returning to the UK. Back to Udon in Dec or Nov 2014 for another 3 months and so on.
Maybe a house left unoccupied for 9 months a year is not a good idea! Buying 1 Rai of land and even a condo in central Udon may be a good idea. Are there any condos that will be ready for the winter of next year? and 1 rai of land in the right place after thoughtful consideration for the correct amenities.. Leave the land until we are ready to build our dream home or sell when the times right and enjoy the appreciation on the land.
The wife is coming over a bit earlier than me this year. When I arrive she will have a house already picked out. This is the problem. Keeping the Mrs Happy and doing the right thing. My wife is useless with money and always thinks with her heart. A happy wife is a happy life as they say. Convincing her that renting is the way forward will be hard for a simple country girl to grasp. Any advice other than what you have already said would be appreciated.
Buy her some Thai gold!!

Darrenm, I had somewhat of a reverse situation years ago when I moved to Manila to spend the majority of the year. I owned a single family detached home and a condo in a mid-rise building...both in Houston, Texas, USA. After being away for several months I returned to find the condo locked up snug as a bug and everything just as I had left it. The small amount of money I had paid monthly to the Homeowner's Association for maintenance was well worth the peace of mind in knowing that the common areas in the building would be maintained with impeccable care and there was no concern with security issues. On the other hand, the larger home had been burglarized and trashed. The insects had taken over the home and the weather had done horrible damage both inside and out. Finding reliable help to maintain the yard was a nightmare and very expensive...looked like a jungle when I returned.

That same scenario will play out here in Udon...except worse. A house left vacant over here will weather in no time and the insect infestation will be horrid. If you think you can resolve that problem by moving relatives into the home in your absence, then they will wind up trashing out the place worse than any insects can do and you will be one mad fellow when you return and see what they have done to your dream home.

You haven't said whether or not your wife is from a particular village around Udon or whether you want to live somewhere within Udon city. If she's partial to the village then you may have a hard time convincing her not to buy a house or land near her home place. If not then I think your best bet would be to come here this year and rent a furnished house or condo and spend the next few weeks or months looking around for a suitable purchase opportunity. If you send you wife ahead of you with the idea in mind that she's only looking for a temporary rental location and the two of you will search for purchase opportunities "together" once you arrive then you will save yourself a lot of grief. If she thinks she's coming here in advance on a mission to search for a home to purchase, then you have just shot yourself in the foot and you're screwed...especially if she thinks with her heart and is poor with money. Once she sets her heart on something and you're not there to guide her, she will be inconsolable if you later disagree with her once you arrive and start looking at her selections.

Believe me...you don't want to make any hasty decisions. Rent for a short time until you get your bearings around town, then make a purchase before you head back to the UK. The well-maintained condo is definitely the way to go in my mind if you're only going to be staying here three months out of the year.