Having a real estate house in Bali is a fantastic choice for a second home in the tropical country, Indonesia! Especially if you are those people who frequently visit Bali and have your heart captured by the beauty of this island. Not only does it offer tropical weather all year long but the Balinese culture is very pleasing to the senses and the investment and lifestyle appeal is the same. It’s no wonder that every day, there is always people—both foreign settlers and Indonesian locals—looking for cheap and good Bali real estate for sale.
What’s not to love? It’s affordable, wonderful and can be turned into a profitable vacation rental business.
In this article, we’ll take a look at the ins and outs of purchasing a vacation home in Bali. When you’re finished reading you’ll have a much better idea of where to look in Bali and how to make your vacation home purchase as hassle-free as possible.
Is Now an Appropriate Time to Buy a Vacation Home in Bali?
Yes, absolutely. Especially at this time after the global pandemic hits, which has resulted in a drop in real estate prices. They’re as low as 25% to 30% lower than they’ve been in almost a decade in certain circumstances! However, keep in mind that with a shaky economy, there’s a danger that property prices will fall even further. If you’re thinking about buying a vacation house in Bali as an investment, be aware that the risk is now moderate to high.
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Researching Cheap & Good Real Estate in Bali for Sale
Unless you’ve visited Bali several times before, there’s a slim chance you’ll know where to look. Fortunately, you can use internet real estate search tools such as Kibarer to find an affordable real estate in Bali from anywhere in the world. You can save time by using these internet portals to search for condominiums and residences before traveling to Bali. Your best strategy is to prepare a list of all of the places that might work for you so that you can begin your search as soon as you arrive. Additionally, you can always look for Bali real estate for sale by owner which probably will give you cheaper price. However, note that you will need to deal with the laws and compliances alone and there will be no agents ready to help you in that matter.
Is Buying a Vacation Home in Bali Easy for Foreigners?
Yes, it certainly is! With the new Indonesia’s relaxed law of foreign-owned properties and the help of property agency specializing in foreign investments, any foreigners can buy land or a home on the island with ease. There is no need to go through customs while traveling back and forth, which can save you a lot of time and energy.
Apart from the fact that Indonesian is the primary language spoken in Bali, there isn’t much that prevents you from buying a vacation house there. To be honest, the language barrier isn’t that difficult to overcome, as many people in Bali are already fluent in English.
Make Time to Visit the Property in Person
While images and videos on the internet can give you a decent impression of what a villa or any property is like, including the surrounding region. It’s always a good idea to see the property before signing any contracts. Not only that, but you’ll get a sense of what the surrounding community looks like so you know what to expect when you move there. The last thing you want to do is buy a house without seeing it first and then discover that you don’t like the neighborhood or that it lacks the features you require.
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Renting Out Your Bali Property When You’re Not There
As previously said, renting out a property in Bali is an excellent way to make money. One solution is to hire a self-storage facility so you may store all of your favorite furniture and personal items while you’re away. This will safeguard them from the damage, abuse, and theft that might occur while renting to tourists. When you return to Bali to stay, you can easily retrieve your belongings from your self-storage unit, knowing that they will be safe and undamaged.