If you are going to retire in Thailand, then you can retire in Nakhon Ratchasima. This is a place to retire as many expatriates do retire in Nakhon Ratchasima. The city is large and is one of the largest cities in Thailand. Many ex-pats who retired in Pattaya and who started looking for a more peaceful retirement. They have moved to retire in Nakhon. Moving to Korat can be daunting as it is a large area.
Living in Korat leaves you a few options to consider and Nakhon Ratchasima is not that far from Pattaya and is much closer to the ocean and nightlife than retiring in Nong Khai as an example. Property rental will be a bit cheaper than Nong Khai and you would be looking at about $170 per month for a small apartment in the city center and about $140 per month living outside the city. See also retirement in Pattaya and retirement in Buri Ram in Thailand.
If you are considering buying or building in the area, then you will note that foreigners generally cannot own land in Thailand. Many do this in the name of their Thai wife however during a divorce this becomes problematic as you cannot claim the property. There is however a usufruct that you can register over the property or register a superficies over the property where you own the house and your wife the land.
You will need to speak to a property lawyer about this. Also, note that if you are going to rent that the property owners tend to add a percentage to the electricity as their profit. Ask about this before you decide to stay.
Many who live in Nakhon Ratchasima tend to live there on a marriage visa as most would be married to a Thai national. This requires 400,000THB in a bank account or a retirement visa at 800,000THB in your Thai bank account or a pension letter proving an income from your Embassy in Thailand. You can view the issues with the retirement visa in Thailand as well as the marriage visa and decide what would be best for you. Consider all the options before you decide.
The cost of living in Nakhon Ratchasima is about the same as anywhere in rural Thailand. You can see below what this will cost you based on USD and you can compare this to other cities in Thailand. These would mainly be your daily living costs.
|Meal, Inexpensive Restaurant||1.83 $|
|Meal for 2 People, Mid-range Restaurant, Three-course||15.22 $|
|McMeal at McDonalds (or Equivalent Combo Meal)||6.09 $|
|Domestic Beer (0.5 liter draught)||1.98 $|
|Imported Beer (0.33 liter bottle)||2.59 $|
|Cappuccino (regular)||1.62 $|
|Coke/Pepsi (0.33 liter bottle)||0.51 $|
|Water (0.33 liter bottle)||0.26 $|
The cost of living in Thailand is low however in the larger cities you will note that the food would be more expensive. Many do decide to move to Nakhon Ratchasima or Korat when they get married. See the other cities in Thailand for retirement.