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My friend got 40 acers on a small island in the south for less then $20,000 and had the house built himself for like $50,000. If you contract all the work yourself you save a ton but it is a lot of work and most people dont want to deal with all of that.
my parents are building a masssssssive house in hua hin (abt 2.5 hours south of bkk....i think, kinda sleepy atm)..like if it was built in aus it would be in the 10s of millions, but its costing them ~1 (estimate). of course, things take alot longer to do, so expect to wait a while if you want to start from scratch.
parents own alot of property in hua hin/cha am and these are developing areas where in the last year property value has gone up 3 fold (not really, but something big). but value drops almost as fast, and you usually sell to farangs who are looking for bargains if you're tryin to get rid of it, so it can be quite a risky proposition.
-pug