It could be an exciting thought to buy a condo in Bali. Having a holiday home of your own in the land of exotic beaches and lip-smacking delicacies is surely an adrenaline-boosting idea. However, buying property in Bali has its challenges. If you are from a foreign country, these challenges are intensified by the fact that you cannot own land or freehold property in Bali. Fortunately, there are practical solutions to these problems.
Find out eight such pointers that you need to consider before you start looking for condos for sale in Bali:
- Condo size
Research shows that different condo sizes have different markets. If you buy a smaller condo, it will be easier to rent it out when you are not staying. However, many tourists come looking for bigger and fully furnished condos near the beach for their ultimate beach holiday and the endless opportunities that Bali has to offer. Consider investing in a condo while keeping its location in mind. If you have the resources to equip your condo with high-end facilities so that the person renting it will not feel the need to leave the property, you can very well buy a big one.
- Soil analysis
It is an essential factor to consider before buying more prominent properties. Carrying out a ‘Soil Investigation Analysis’ is quintessential to understand the characteristics of the soil and determine the design and structure of the condo to be built over it.
- Access to main roads
Your condo should have proper legal access to the main roads and public ways. The width and condition of the access roads should also be thoroughly checked and analyzed.
- Closer to public places
While tourists love spending time in a condo on the beach, they would also like to take a stroll or drive down to the nearest recreational places. Invest in a condo that is at a driving distance from fine dining places, shopping areas and other forms of entertainment.
Bali has a very wet monsoon season. Before buying a condo in Bali, carry out a thorough analysis of the drainage options. Several places in Bali are prone to flooding because of the lack of proper drainage planning.
While having a condo close to the beach sounds exotic, you should also consider what the beach is like during the whole range of tides. Moreover, water laden with sea salt could be damaging to property. Consider the degree of marine proofing of the condo before you invest in one close to the beach.
- Look for a reputable property agent
Hire agents from a legitimate and reputable company. A professional real estate agent will guide you through the entire process safely and legally while giving you all the right permits that you need.
- Identifying a good notary
A notary carries out a ‘due diligence’ ensuring that your property is fully accessible by you, does not have mortgages on it, has a building license, proof of taxes being paid and also possess a land certificate. A notary will usually charge around 1%-2.5% of the price of the sale.