Thailand Property Investment: Enjoy Low Cost of Living in Chiang Mai

May 25, 2017 Thailand

Travelling around the world has recently become a huge trend. People are always looking for places to go and cultures to experience. The top tourist destinations of 2016 included Thai cities of Bangkok, Phuket, and Pattaya. There is just something about Thailand’s unique and beautiful culture that keeps reeling people back in. It’s no wonder some expats want to retire early, buy a Thailand property investment, and stay there for good.

Still, investors are always in search of areas that can make the most of their hard-earned money. There are a lot of options in Thailand but, for some reason, expats are deciding to stay at Chiang Mai. Why? Here’s an idea of what living is like in Chiang Mai, Thailand.

Thailand Property Investment: Enjoy Low Cost of Living in Chiang Mai | Thailand Property | Yazhou PropertyChiang Mai’s humble cityscape at dusk

Rich in culture and laid back

Chiang Mai is comfortably situated in northern Thailand and is miles away from the infinitely busy life at Bangkok. It has a much more laid back feel that many travellers have come to love. Many traveller blogs are impressed by Chiang Mai’s immersive Thai culture. There is already a thriving expat community in the city, which is why most locals know Basic English and are used to seeing foreigners riding around in motorbikes or buying Thailand real estate investment.

Thailand Property Investment: Enjoy Low Cost of Living in Chiang Mai | Thailand Property | Yazhou PropertySome of Northern Thailand’s delicacies

Cost-effective living

Many bloggers have sworn by the affordable cost of living in Chiang Mai. They rave about cheap food, affordable Chiang Mai investments, and even low cost entertainment options. They’ve computed the amounts in US dollar as evidence of the cheap-but-worth-it costs. There’s an extensive list of bloggers who have compared prices of rent, food, transportation, and more. We’ll give you a brief summary of those expenses.

 

How much will living in Chiang Mai cost me?

First, to give you an idea, you can find an extensive list of estimated costs of basic necessities in the US at Expatistan. You can also compare the prices of specific commodities in specific cities in Thailand and the US at Numbeo (note that these costs are generated by user-provided information). Generally, living in the US on a budget can still easily cost you well over 3,000 USD a month given that the monthly rent would already cost 1,000-1,500 USD per person.

 

Living on the essentials

So how much will it cost you to move to Chiang Mai? Shannon, a blogger expat (A Little Adrift) who has been going back and forth Thailand since 2011, gives us an idea of what low-cost living in Thailand is like. Her estimated computations amount to a “baseline cost” of 485 USD a month individually (January 2017). That’s only for the essentials: Rent (Shannon shares a two-bedroom Thai home with a friend), internet, electricity, water, food, scooter, and gas.

The estimated amount also doesn’t include Shannon’s expat expenses yet. Adding her quality of life to the baseline cost will amount to at least 700 USD, she said in her blog. Shannon notes that prices may rise and her estimated baseline cost could go higher depending on Chiang Mai’s economy and your preferred way of living.

 

Comfortable living

On the other hand, Chris and Angela (Tieland to Thailand) said that living on 500 USD in Chiang Mai is doable but miserable. The couple points out that if you want to live in Chiang Mai comfortably, you’d have to spend more.

Thailand Property Investment: Enjoy Low Cost of Living in Chiang Mai | Thailand Property | Yazhou PropertyAnnual floating lamp ceremony at Tudongkasatarn

Chris and Angela’s estimated monthly expenses (as a couple), including essentials, rent (they rent their own two-bedroom Thailand real estate), expat expenses, travel and entertainment, and blog maintenance sum up to an honest 2, 624 USD.

You can try out their Thailand budget calculator which will give you suggestions on how much you should budget in Thailand based on your USD income.

Looking for a Chiang Mai condo or Chiang Mai home? Check out our Facebook page and blog for the latest Thailand property market news and updates!

Related posts:

  1. Overseas Property Investment: Can Foreigners Buy Land in Thailand?
  2. 7 Things You Need to Know When Investing in Bangkok Property
  3. The Best Locations for a Bangkok Property Investment
  4. 5 Mistakes to Avoid When Buying Property in Thailand
  5. Here’s Why You Should Invest In Pattaya Property
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