Our dream to retire in Thailand

Hello Natalie,

Welcome to Expat.com!

In order to optimise your post's visibility, I have created a new thread on the Chiang Mai forum

You can have a read through the Living in Thailand guide to gather some information for a start

I wish you good luck in your endeavours

Cheers

Mishna

I live in Chiang Mai, so I will try to answer your questions...

1. Do you currently work in Thailand? If so what do you do - Is it worth buying a small business>

No, I do not work in Thailand...  It is not worth trying to open a small business...  You will most likely be in direct competition with Thais and you will be at a disadvantage at every turn... It can be done and I know foreigners that do run a business here, but it is fraught with issues...

2. Have you bought or do you rent properties? which would you suggest.

I rent a house here in Chiang Mai... Foreigners cannot own property (land) in Thailand... You can purchase a condo and own it outright, but if you want to own a house, it will be a problem... You can own the house, just not the dirt it is sitting on... There are ways around this, but is it really worth it?  There is an old adage about foreigners in Thailand, never invest more in Thailand than you are willing to walk away from should a situation arise... I will leave it at that...

3. Have you made friend? If so with locals or expats?

"Friends" is an objective term, acquaintances would be a better term... There are a lot of shady characters in Thailand, most of which are foreigners... As with anywhere, it takes time to find close friends that you can trust... There is a large expat community in Chiang Mai and the Chiang Mai Expat Club is a good place to meet like-minded foreigners and to gain insight into the city and living in Thailand...

4. Did you have friends in Thailand before you moved?

I had a few people I knew in Thailand before moving here, but they are scattered all over the country...

5. What do you believe is a good monthly budget to have to live a middle of the range life in Thailand. (We love Koh Samui)

This question comes up often and my answer is always the same, which is, there is a reason the Thai government places a minimum monthly income for retirees at roughly 65K baht per month, per person... This is around the income level where a westerner can live a comfortable life style at lower-middle income western standards... Nice house, car, motorbike, food, entertainment, etc... Over time this figure has been proven out through polls, conversations, etc... Most expat families that live here can do so for between 60k - 80k baht per month...  For the sake of disclosure, I spend roughly 100K baht per month, but live very comfortably...

Hope this helps... 

Chok Dee...

I live next to Bangkok

1. Do you currently work in Thailand? If so what do you do - Is it worth buying a small business>
working here is very hard
2. Have you bought or do you rent properties? which would you suggest.
to own a house you must be Thai. I have a wife of 6yrs. we moved back and got a house

3. Have you made friend? If so with locals or expats?none to speak of

4. Did you have friends in Thailand before you moved? family

5. What do you believe is a good monthly budget to have to live a middle of the range life in Thailand. (We love Koh Samui)if you can't get a retirement visa you will have to leave every 30days or go to government office to renew visa. Samui is not cheap. the main land is better. get a condo next to the beach. you can own a condo

I live near Phitsanulok in Northern Thailand. To answer your questions:

1. Do you currently work in Thailand? If so what do you do - Is it worth buying a small business>

No I don't work here, never have, nor would I have chosen Thailand as a place to be " working expat" when I was working. To much red tape and low salaries. I have not had a business here,  nor would I consider investing in a business here. There are lots of reasons for this, many of which can be found via Google.

That said, it's a great place to retire if you have the funds!

2. Have you bought or do you rent properties? which would you suggest.

Both. Rents are low outside of the tourist traps and I would recommend renting to start with. Buying your own place is possible and properties are cheaper than in the West. Land ownership is another matter however and generally speaking not available to foreigners.

3. Have you made friend? If so with locals or expats?

With the locals yes, but I speak and read a bit of Thai, which helps break the ice. Expats are few and far between where I live. I prefer it that way.

4. Did you have friends in Thailand before you moved?

No, but I visited Thailand a fair few times before I made the move. Had a good look round too away from the tourist track.

5. What do you believe is a good monthly budget to have to live a middle of the range life in Thailand. (We love Koh Samui)

I spend between 40-50,000 Baht( £1000)a month and have a comfortable life style. Depends on what you want to do really. As for Koh Samui, well I prefer to avoid tourist areas, so it would not be on my radar. But I spent a very pleasant 3 years in Prachuap Khiri Khan which is a little further north on the Gulf coast. A lot cheaper than Samui too!

Hope that helps. Good luck.

Having resided in Thailand now for 12+ years, I can say -

a) you do not come here to make $$$
b) coming here @ a young age provides added challenges eg visa
c) property purchase - except under special circumstances, a condo purchase is your only problem
d) generally, a well-balanced personality is a liability
e) being male or being homosexual provides an advantage
f) citizenship, permanent residency - forget it
g) residing @ tourist resorts has its problems - better to live in a average town/city & go to resorts for a holiday as you would in your country of origin

Having ample $$$, over 50yo, no intention to work, many interests, compatibility with the climate, social drinker, enjoy hot, spicy cuisine &

YOU WILL INTREGRATE WELL!