Chiang Mai - Cost of living

[Song_Si]

motorbike expenses - my experience

have just clicked over 30,000km on a Yamaha Fino, since November 2009.

never had a breakdown (apart from punctures entailing a short walk)
on third set of tyres - approx 1000 baht/pair
one headlight bulb - I think 100 baht
replaced drive belt and nylon bushes in there somewhere - 600 & 300 baht
at a guess, maybe 15 punctures, new tube each time 150-200 baht
had seat re-covered as old one had a tear, 300 baht
oil change every 300km, 150 baht
two 'full services as per manual' 600 baht

brake pads front and rear due to replace at next service
still has original battery, didn't expect it to last so long

and gasoline

No complaints. Base model is now 46,000 baht new, cheap running.

[Song_Si]

back to KNJ's excellent list in post #19

ideas on additions? I thought of:

• cable or satellite tv
• internet

for me they cost 350 (cable tv) and 780 (unlimited broadband) per month, but this will vary by area/service

[KNJ]

Just as an update:
medical insurance, this can vary widely, if you want full cover, medicine, out patient treatment etc. It will cost you thousands a year. Shop around and consider what you NEED not necessarily whatyou want. Pay the medicine and out patient fees yourself, ( they are relatively cheap often only a few dollars or tens of dollars ) set the minimum claim payment to something reasonable, 500, 1000 or even 2000 dollars, the premiums will fall dramatically.
And shop around, that can be a big difference as well.

Song Si, absolutely concurr, a MC is a much cheaper option for everyday transport, initially and on an ongoing basis ( think again if you are considering a H-D or something similar )

Pets can be expensive also, forget about bringing them, and get something local, huge hassle to import and unfair to them.

It is tempting ( at least for some ) to send everything to Thailand in terms of hosuehold things - Think twice, most things are available, only ship teh essentials, to minimise, cost and customs hassle. there is verylittle that cannot be bought here. ( decent set of tools is something I would advise taking, for working on property or maintaining motor of any description ) But that is my personal preference

Another thing which crossed my mind on the yearly or there abouts is replacement mobile, they are not cheap if you want high end smart phone, and most people replace every 12-18 months. Ask yourself do you need all that functionality?

If you are an avid reader, magazines and books are in Thailand like most places expensive, especially if you want the latest offerings, If you like to read find teh second hand bookshops, buy a kindle ( more costs and ongoing depending how often you download) online newspaper subscriptions are not cheap for a year, having Top Gear sent from UK 12 times a year will cost you a lot.

Like movies, I do , and copies are cheap, but buy 1-200 a year ( easy done ) more expense.

And teh list just goes on and on. Just control your spending, and be realistic.

[TomC]

Originally Posted by stednick

Tom:

I always consider the source before I decide on what to do with the information.

None the less, I'll respond; my statement stands on it's own.

"If you can qualify for a retirement visa, you can afford to retire in Thailand."


As far as "What do you expect the gov to say?"

In consideration of the competition, other countries that are actively pursuing Foreign retirees, I "expect the gov" to require lesser funds to secure a one year retirement visa. I also "expect the gov" would have less stringent check-in requirements. However, the law is the law. It is established, it is written, and it is enforced. Many foreign retirees have been put-off by the difficulty, complexity and uncertainty of the Thai legal regimen and selected more retiree friendly venues.

So be it.

Although they may, I do not "expect" the Thai government to make the retirement visa requirements any easier in the near future.

You know what, I think you have a point there. Although, I think it costs less than 65K baht a month to live in Thailand, the gov figure is a good starting point. I'm not going to argue with 60K that the OP quoted. That's good enough for me. Any short fall can be mitigated by bank account assets. I think it's fair to say that if you don't have 65K a month, then you are not meeting the requirements and perhaps should consider some place else. If you have the 65K then it's quite nice to stay in Thailand as your actual cost can be lower than that depending on your life style.

[stednick]

Originally Posted by KNJ

medical insurance, this can vary widely, if you want full cover, medicine, out patient treatment etc. It will cost you thousands a year. Shop around and consider what you NEED not necessarily whatyou want. Pay the medicine and out patient fees yourself, ( they are relatively cheap often only a few dollars or tens of dollars ) set the minimum claim payment to something reasonable, 500, 1000 or even 2000 dollars, the premiums will fall dramatically.
And shop around, that can be a big difference as well.

Regarding medical insurance quotes. I reference all to the thread medical insurance located in the "Basement Lounge" of this forum.

Mr. Cooke has provided us with a pdf file of recent medical insurance quotations (eleven in total) that he has received. Thank you, cooked.

[stednick]

Originally Posted by KNJ

Everyday living 30-45 000 is more than posible, BUT do not forget any initial set up costs:
Furniture, kitchen equipment car or motorbike etc.

KNJ:

You have identified an oft overlooked financial facet of the Expat retirement budget, the "initial setup cost". These costs can be significant.

To amplify on your list, I add; visa costs, legal fees, medical tests, doctors reports, vaccinations, packing, storage, airfare, shipping/cargo, customs, temporary lodging, house/apartment hunting costs, security deposits, etc. The many (etc.'s) can add up.

The point is; The Initial Setup Cost can blossom into a considerable amount of money. This cannot be overlooked in a retirement budget.

It is also noted that these funds are not recoverable should repatriation occur.

Words of Caution: Potential retirees must be absolutely certain that they will adapt to a long-term stay at their chosen retirement location. Repatriation is costly. You really do need to have spent considerable time living-on-the-economy (residing) where you intend to retire BEFORE you make the move. Vacationing and residing are two entirely different scenes. Be safe, not sorry.

[4thRight]

The links from Cooked (Retire-on-550-), godfree (The Retirement Helpers) and TomC (ajarn dc Very Cool) are/were pretty nice. Now for a how to best find a few real estate types that actually want to do the work.

It's probably not realistic to make a good contact before arriving. Getting to Chiang Mai, hoteling it for a short time to find a place seems the way it'll go. The Legion might a first stop.

[TomC]

Originally Posted by stednick

KNJ:

You have identified an oft overlooked financial facet of the Expat retirement budget, the "initial setup cost". These costs can be significant.

To amplify on your list, I add; visa costs, legal fees, medical tests, doctors reports, vaccinations, packing, storage, airfare, shipping/cargo, customs, temporary lodging, house/apartment hunting costs, security deposits, etc. The many (etc.'s) can add up.

I would advise to go light. Come with the suitcases. Pay for extra baggage if needed. Use public transportation to start with. Avoid driving especially a motorbike in the beginning as it's a good way to get hurt or killed. Get used to the Thai way of driving where the biggest vehicles rule. You don't need a vehicle when you retire. Use public transportation. Go easy on health insurance in the beginning and save it for later years when you really need it or when you have a motorbike. Come and spend time in the country and learn the culture and language (a must) before moving anything substantial. Move yourself first and see if it works. I don't see why you need to move stuff from the western side unless you have a family to raise or have some unique items that you can't live without. I just went to Homepro in BKK. You can get most appliances there. You just have to pay more.

[somchit-srimoon]

I Think that the best way to find out in the month you have is ti talk wit expats and see who has an equivalent life style to what you want and ask them to detail their expenses.

We all live differently and do wonder why a condo as they seldom offer value for money unless you want right in the center of night market or the university area.

Best of luck with you plans.

[Newforestcat]

Hi Howie

I am not sure if you are still looking at this thread.

Don't worry! Your bank balance usually sets the standard of living for you.

My hubby (English) and I (Thai) are planning to come to live in Thailand hopefully in a couple of years, too. My husband is too relaxed about the move though. He could do with being a little worried like you.

If you have at least £1000 (after tax and expenses) from rental etc in the UK each month and maybe at least £50K in savings. You should, in Thailand, maintain the level of lifestyle you have been accustomed to. The key thing, I guess, is to have some steady income coming in from the UK and, to avoid any nasty shocks from exchange rates either way, maybe have at least 8000-10,000 Bath per month extra income from within Thailand either from a hobby/little part-time job or if you are brave/foolish, depending on the future outcome, a little investment.

I had been away from Thailand since 2000 and only briefly visited Thailand approx. once a year. This time it is unusual as I have been nicely stuck here since last Christmas. The food have prices shocked me a bit. I am also starting to think that I might spend less, if I quit fruit juice for Chang beer.

Where I am living now is very cheap and utterly quiet. I am not usually very good with money, as I am now on an unpaid leave, I am a bit better. However I have not tried to and cannot skimp on food. There are three of us. I usually do food shopping and get carried away sometimes. I never spent more than £250 a month. My brother told me that I spent more on dog snacks than on my own food per day. That says a lot about food in Thailand.

I am pretty sure that once you have settled down in CM, your spending may change slightly. The longer you are there, the more you can learn to be crafty with your money, where to shop and where to go enjoy yourself, etc. In average, you should not need to spend more than £200-300 a month on top of your rent. If you can eat pretty much anywhere, you possibly won't spend as much as £300 a month. Please note that the £300 a month figure includes utilities and excludes rent and emergencies such as car or personal checkups or repairs

English books are expensive. Get an e-reader. No need for a car if you live in or near CM city centre. Imported goods are very expensive, if you need something, bring loads with you. Use Skype to save on phone bills. You possibly don't even need a landline. Cooking for one or two people is usually more expensive than eating out the Thai way. Assuming, you are healthy, you would spend more cash on flying to see friends and family back in the UK than on living in Thailand for three months.

Anyway, don't have too much money in your Baht account. No govermental gurantees, if your Thai bank goes bust, say sayonara to your money. Use HiFX, it is so easy to transfer Pounds to Bath bank accounts in Thailand. Rates are better when you transfer bigger amounts, too. Also, no fees either end, you won't get that from the banks! This is how we have topped up our Thai holiday funds. We hardly use the Exchange Bureau these days! Cheers!