Money

My home for a month in Chiang Mai

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Chiang Mai condo

Hey everyone! I’m still in Chiang Mai, Thailand. I’m here for 3 months to visit my parents and help find a good nursing home for my mom. That’s done so I’m just relaxing and enjoying the rest of my stay. For the first 2 months, I stayed at my parents’ condo with several breaks at the hotels nearby. I was waiting for a unit to become vacant in my parents’ building. There were some delays, but I finally got into a pretty nice unit. Check it out.

Hillside Condo 4

*The exchange rate is about $1 to 33 baht.

I got a studio unit in my parents’ building for 8,000 baht per month! I pay for the electricity and water separately, but those should be less than 1,000 baht. All in all, I got a pretty good deal for under $300/month. This unit is pretty well equipped too. It has a bed, several chairs, a fridge, a washing machine, a small kitchen area, a balcony, and a working area. Also, the building has a pool. That’s awesome because Chiang Mai is getting hot! It’s 100 degrees almost every day this week. Anyway, I’ve seen some units in the area for 8-10,000 baht with just a bed. I’m pretty happy with my unit. Oh, this building is right across the street from the Nimman area. There are plenty of restaurants, shops, and cafes nearby. I love the Thai food here, so affordable.

Here is a quick video review I put on YouTube.

Furama

For comparison, I stayed at Furama for a week. This is a sister hotel, I think. I paid $15 per night. It’s pretty comfortable there. If you want to book a room at this hotel, keep checking the price every day. It seems to fluctuate between $22 and $14. It was pretty quiet when I stayed there. If I stayed at Furama for 31 days, it would cost $465. This is still cheap, but a hotel room just isn’t as homey. It was nice to have a freshly cleaned room every day, though. At Hillside 4, I have to clean the room myself. 🙁

Anyway, that’s it for today. I just wanted to share how much it cost to rent a room in Chiang Mai and give you a quick tour. You can get a pretty comfortable studio for about 10,000 baht per month, $300/m. Of course, you could splurge and spend more. Most places on Airbnb charges at least $500/m. You could also spend less if you have a vehicle. My friend said 8,000 baht per month is expensive! Locals spend way less on rent. It really depends on the area. I think the area around the university is a lot more affordable. However, most places want you to sign a year lease. One month is too short.

If you enjoy the video, you can subscribe to my YouTube channel here.

Bye for now!

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Joe started Retire by 40 in 2010 to figure out how to retire early. After 16 years of investing and saving, he achieved financial independence and retired at 38.

Passive income is the key to early retirement. This year, Joe is investing in commercial real estate with CrowdStreet. They have many projects across the USA so check them out!

Joe also highly recommends Personal Capital for DIY investors. They have many useful tools that will help you reach financial independence.

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