24 Apr Things to Consider Before Purchasing Villa in Bali
Buying a villa in Bali or other types of property can be a big risk but with the real estate growing at a steady rate in Bali, investing in a villa residence is one of the better ways of growing your money. For many of you who do not know, investing in villas is a far safer option than investing in apartments – the life of a villa is very long as it’s stronger and more durable to natural calamities. But the life of an apartment starts to decline after 5 years.
“DON’T WAIT TO BUY PROPERTY FOR YOUR FUTURE INVESTMENT, BUY A VILLA AND WAIT”
Here are some tips and suggestions to consider before purchasing a villa for your future investment in Bali:
- BUY VILLA IN THE RIGHT AREA
Figure out where you want to buy before you start looking for a villa for your future investment. Make sure that the villa located in a prime location that will attract the type of clients that you hope to rent to, that it will reach to the returns you are expecting and that it will appeal to the market.
- HAVE A BUDGET AND WORK WITHIN IT
Don’t look at the villa that’s more expensive than you can afford. This not only wastes your time, it generally causes a frustration and hampers the overall search for a suitable villa.
- BEWARE THE ADDITIONAL COSTS
Make sure to found out about additional costs before you buy. Get some idea of what you’re in before buying and make sure you have enough cast to take care all additional costs. Ensure that all the clauses of the document are read in detail and the penalty clauses be understood.
- DON’T BE DAZZLED BY UNNECESSARY FEATURES
Don’t allow impressive features to cloud your judgement. Determine your needs before you start villa-hunting and always stick to the plan.
- LEGAL CHECK OF PROPERTY
Ensure the property is legally authorized to constructed on the land it stand on. Ask the developer about the land and property title either Freehold (Hak Milik) or Right to Use (Hak Pakai) or Right to Build (Hak Guna Bangunan).
- MAKE AN OFFER AND NEGOTIATE
Try to negotiate and make a reasonable offer. Avoid in making a low-ball offer since the seller who receives an offer that is obviously too low simply refuse it upfront.
- DO YOUR RESEARCH
Always do proper research and have some idea of the average price in the area before purchasing a villa in Bali. If a villa seem a little pricey, ask the seller why the price is high and move on if you are not satisfied with the reasons given.