So, what does it really cost to live in Thailand? Of course this is a loaded question with many answers, depending on your location, lifestyle, drinking and smoking patterns, age and married situation.
As discussed under "Housing", the range is huge, from 25,000 dollar units to multi million dollars ocean front mega castles.
Rentals go from 3,000 baht (about 94 dollars) for a one bedroom apartment to 120,000 baht (about 3,750 dollars) for a beautiful fully furnished 3 bedroom, 3 bathroom condo in Downtown Bangkok. In Phuket and Samui you can rent a very reasonable and beautiful home for 30,000 to 50,000 baht. In the NE, you can get the same home for 10,000 to 20,000 baht! Smaller units are even less.
(Retire-Asia.com offers advice about retirement in Asia with extra income.)
Example: A "real" cost for the month of March 2008.
Area: Nong Khai, Thailand, near town, 2 large bedroom townhouse, 3 bath, small front and rear yard. Newer building, western style large kitchen.
- Rent: 7,000 baht per month (unfurnished)
- Electric: 1,670 baht
- Water: 240 baht
- Food: 13,000 (we eat alot) Including household items such as soap, floor cleaner, paper towels, etc..etc..
- Entertainment: 4,000 baht
- Gas for Truck: 3,500 baht
- Insurance (truck): 1,000
- Live in Maid: 7,000
- UBC Statellite Cable TV: 2,000
- Misc: 3,000
Total monthly expenses: 42,410 baht (current baht to dollar is 32 to 1)
Total US dollars: 1,326 US dollars
These costs will remain fairly constant, except for the increase in electric during the really hot months, when we run the air conditioner many hours per day. Figure another 2,000 baht during these 3 or 4 months.
This is also assuming that you own your vehicle (paid for) and your funiture.
Note* Most rentals go fully furnished. Many houses are also sold fully furnished, unless you are purchasing a brand new home or building yourself.
To estimate your expenses in a more tourist area such as Phuket, Samui or Bangkok, just add in the extra rent mentioned above and increase your electric by 50% as you'll need more airconditioning. Food will be 15% higher and of course there are many more ways to spend your money for entertainment.
Of course the best possible solution to a stress free and hassle free lifestyle is to purchase your home outright (no monthly payment) and also buy a new car, fully paid up. This leaves your monthly expenses at a fairly constant rate and easy to budget.
We deal with many real estate, developers, condo's and property managers through-out Thailand. Let us know if we can help: info@whyretireinthailand.com
