Most people are aware with the travel and tourism sector since they have used its services to get some much-needed rest and relaxation on family trips. These same activities can, however, be invested in, looking at how lucrative this industry can be. One of them is investing in an elite property in Bali, the resort island of Indonesia. This tropical island boast not only some of the most beautiful beaches in the world, but also breathtaking rice terraces, volcanic mountain, and charming local culture. One of favourite holiday destinations from both Asian and Western travelers, many giant hotel chain and luxury vacation rental share its market in this island. Bali is great for property investment with high return, and you can do it too. But before you buy a 10-acre land and built a luxurious villa here, you need to make sure the investment is worth it.
Buy An Existing Elite Property in Bali Instead of A Land
You might have envisioned your own version of elite property in Bali. It’s very appealing to build a house in resort are with your taste, until you are slapped with the nightmare of construction realities. You may have to deal with coastal authorities, municipal building restrictions, hostile homeowners associations, and shady contractors who work for beer money if they feel like it to build a house from the ground up.
Some coastal commissions are so strict that they even dictate which plants you can cultivate. In posh resort locations, homeowners communities will not even allow you to paint your deck unless you choose a contractor from a list approved by the association. There are a lot of constructing tales in Bali you can see in expats forum. Not everything is as pretty as it looks on the surface.
Do Not Invest in Property You Cannot Afford
Do the math. It’s not difficult to figure out what you can afford these days. Mortgage calculators abound on the Internet to assist you in your endeavor. Simply enter your income and debt, and the calculator will tell you how much extra money the banks are willing to offer you.
Even if you see the vacation home as a potential source of income, don’t expect it to cover the cost of the house. Remember that you don’t need to buy the most luxurious beach mansion with high ceilings and private docks. It’s fine to begin small.
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Connect and Work with Local Property Agent in Bali
You see a nice coastal area in Bali that is not super-crowded, but still close to tourists’ hubs. It’s only five minutes to the beach and totally idyllic. There are supermarkets with local and international goods in the corner. However, we’re sure you didn’t know that the area is already leashed for a night bar that would soon built their property here.
A local property agent in Bali would know that.
The agent can also provide insider information on hidden bonds, community events, and that bunch that loves to run naked through town on the solstice every year. So go on and don’t be shy. A local agent like Kibarer could help you find an elite property in Bali professionally, and you don’t have to be afraid of scam or manipulation. The key is finding an agent that works professionally, not the ones that try to get into your wallet.
Buy A House That’s Good for Rental Business
Remember that your version of exclusive getaway might be different with what the market wants. So before purchasing your expensive Bali villas, make sure to study the market first.
In an ideal world, the house would be right in the middle of things. It’s important to remember that not everyone enjoys driving down twisting roads. Consider your vacationer as someone who wants to find the house, park the car, and not get back in it for the entire week or weekend. They want to go to the beach, the store, and the trailhead on foot.
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See If You can Enjoy A Vacation at the Property
Before buying a villa property in Bali for luxury vacation rental, try to envision the house as a holiday villa. Will you enjoy your time here? Investment experts would be the first to inform you that a vacation home will never provide you the same returns as other assets. So, if you decide to buy one, make sure it is a house and an area that you appreciate. If you spend as much time as possible there, put your heart and soul into caring for it, or want to maintain the home in the family for future generations, it will be well worth the money. You can’t place a price on anything like that.