Author Topic: How much for 1/2 rai of farming land in Kaokok (Read 7050 times)

ironryon · « **on:** November 18, 2012, 01:27:08 PM »

Hi Buriram people

I wonder if anyone can shine a light on this "how much is land in Isaan" topic that I've read much about.....

We have a house in Kaokok (half way to Ban Kruat from Prakhonchai). We have been offered some land directly behind our house =- roughly a half rai. At the moment its growing some root vegetable (no sure of the name of the plant sorry), it has no electric and no water source and is away from the main road. It's basically a small piece of land in a sh*tty but quiet village that my wife says we should put 50 rubber trees on.

Last week we heard that the owner wanted to sell it for 120,000 and the locals spoke bad about the price being so high.
Today the owner came and spoke with my wife and negotiated (without a word from myself I should add lol) it down to 65,000.
I think that's still too much as not long ago someone sold a 5 rai piece of land for 400,000. That would equate to 80,000 per rai.

Could anyone advise?

Thanks

Jamie

isanbirder · « **Reply #1 on:** November 18, 2012, 03:57:02 PM »

Assuming that the land is of no apparent use to anyone else, and that the 'original' price is upped because it's being offered to a farang, I would suggest offering 30-40,000, take it or leave it. Your wife will, of course, do this in a nice Thai way.

ironryon · « **Reply #2 on:** November 18, 2012, 04:12:00 PM »

Thanks Isanbirder

I can see that its only really of use to the person that owns the adjoining 1/2 rai - another person in the village grows the same root crop on that. Apparently they have offered 60,000 to buy this 1/2 rai.

The seller knows it would be of interest to us as the land is directly behind our house....but it seems expensive and there's not much I/we can do with a 1/2 rai.

As you say Isanbirder - i would have thought about 40,000 would be the right price.

Any thoughts are appreciated...

Thanks

TBWG · « **Reply #3 on:** November 18, 2012, 07:45:16 PM »

Ironryon

At the end of the day 65,000 is not a lot of money, you only ever get one chance to buy land attached to your own property, Think about it who knows who could buy it and what they might do with it. Do you want a recycle yard or a thai garage next to you?

When you or you wife own it you control its destiny. Also take a long view is land ever going to go down?

Just my opinion for what its worth.

TBWG

urleft · « **Reply #4 on:** November 18, 2012, 09:53:59 PM »

Land depends on the worth to you.

If the land is attached to your land, it is worth more to you. 65K sounds like a good price to me, but as said, make a lowball offer, it may be accepted.

We are buying some land for more than it is worth, but Thai seller noted that land significantly adds to our existing land with a lot of road frontage, and really improves my back land access. With Buriram growing in leaps and bounds decided to bite the bullet and buy.

ironryon · « **Reply #5 on:** November 19, 2012, 07:39:42 PM »

Hi

Thanks very much for the advice.

The land owner came back today to see if I would buy for 70,000. I offered 50,000 but she wouldnt budge so after much bartering she accepted my maximum offer of 60,000.

If it wasnt land directly behind our house I wouldnt have been so keen but as you mentioned TBWG this could be the only chance to buy it. Now we have to decide what to do with it....

dundeemk6 · « **Reply #6 on:** November 19, 2012, 08:54:28 PM »

good for you , you did well and don't let other people break your good fortune

TBWG · « **Reply #7 on:** November 19, 2012, 09:15:51 PM »

Quote from: ironryon on November 19, 2012, 07:39:42 PM

Hi

Thanks very much for the advice.

The land owner came back today to see if I would buy for 70,000. I offered 50,000 but she wouldnt budge so after much bartering she accepted my maximum offer of 60,000.

If it wasnt land directly behind our house I wouldnt have been so keen but as you mentioned TBWG this could be the only chance to buy it. Now we have to decide what to do with it....

What about a recycle yard or a Thai garage?

TBWG

ironryon · « **Reply #8 on:** November 20, 2012, 06:52:29 PM »

what about a statue making/finishing workshop? my wifes sister runs one...from the back of her house and its 12 hours a day 7 days a week of 8 people working with angle grinders....who would want to be their neighbour?

nookiebear · « **Reply #9 on:** November 21, 2012, 05:43:49 AM »

Looks like the wifes sister will be moving premises very shortly

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