Key Steps to Buying
Step 1: The first stage of investing is down to you as the buyer – be sure of your budget and know the maximum upper limit you are comfortable in investing, a little flexibility doesn’t hurt but be realistic and most importantly honest with your financial standing.
Step 2: There’s a lot of glitz, glamour and hype in the villa buying scene in Bali and you’re not interested in buying into that, you want the facts, presented clearly and honestly to suit your needs. Meet more than once or twice, build a gradual relationship over time so that your needs are completely understood.
Step 3: There’s nothing more important than what you, the client, needs. Make sure its fully understand what you want and that a variety of options for every taste and budget are presented to you. Are you buying as a financial investment or as a lifestyle investment? How much do you want to stay in Bali, if at all, are you buying to live here for a large proportion of your time or to make a return on the ever appreciating property market.
Step 4: Get out there! Learn as much about each property offered as possible by visiting the sites and villas – this is absolutely paramount for investing with peace of mind. Your agent should be able to explain all the amenities and facilities in the area in which you want to invest with a great degree of knowledge. If you’re looking for a Bali lifestyle with all the restaurants, bars and shops right on your doorstep look no further than Seminyak and the surrounding areas out towards Canggu. For a more rapid growth potential in an investment scenario look further afield, research the island properly, if possible spend some time in your chosen location. Bali is changing every day and development is booming, make sure that the area you are wishing to invest in today will still retain the characteristics that attracted you in the first place five years from now. How do you do this? Easy, ask your agent!
Step 5: Don’t settle for second best. Ever. Make a wish list for your property and check each facility at every location. Don’t compromise on your requirements; keep looking if you’re not satisfied with the specifications or potential of one option – there is always a property that is perfect for every type of buyer. If you are buying off the plan it is possible to accommodate a degree of personalization into the design of the property, get creative.
Step 6: Legal matters. The company and reps should recommend the best legal advice available and make introductions. Have all the ownership laws explained by the lawyer, build a relationship with your lawyer (there are western lawyers here in Bali that specialize exclusively in property and land matters and know the intricate ins and outs of an ever changing ownership climate). Never rush into anything without really investing your time in understanding the legalities of property and land ownership in Indonesia. If you’re making a lifestyle investment and wish to spend time living on the island then check the legality of mid to long term stay visas and the options available for you if you’re wishing to run or start a business. Your agent will be able to refer you to companies operating on the island that arrange all visa documentation for almost any need.
Step 6: You’ve done it. Congratulations and welcome to the Bali lifestyle. Relax and enjoy your new villa investment.