This article is based on my recent experience of actually going through the process of obtaining estimates of the cost of building a house in Thailand including getting quotations from builders in Thailand and also using unit build rates (how much square meter) to build a retirement house in Thailand.
It will be useful to anyone retiring in Thailand or planning to retire to Thailand and build a retirement house.
The Two Main Two Ways To Estimate the Cost of Building a House in Thailand
There are basically two ways of pricing a building project in Thailand.
1. Using Unit Build Rates To Estimate The Cost Of Building A House
The first and simplest method is by using Unit Build Rates, i.e. how much per square meter it costs to build the house in Baht/m2. There are a range of Unit Build Rates for houses in Thailand and these vary according to the standard of the building and the location in the country.
There are other factors that affect the price of building a house in Thailand and these are not normally allowed for in unit build rates.
Just one example is that the cost of building depends greatly upon the particular builder chosen as quotations for the same property from different builders varies greatly.
Unit rates for use in estimating the cost of house construction are readily available where I live in the United Kingdom (UK). There are many websites that list these unit rates and also there are pricing books that give rate per square metre for a range of building types and sizes. This method is commonly used in Great Britain, and other Western countries to work out a budget cost for building a house.
However, in Thailand the situation is different. I have not seen any ‘official’ Unit Build Rates for Thailand but several websites, notably those Forums catering for expats living in Thailand, give some rough figures from people who have built their own retirement house in Thailand.