Luxury Ocean View Villa From Bali Property Direct

5 Tips To Purchase Your Dream Ocean View Villa in Bali

January 27, 2022 | General Tips

Owning an ocean view villa in Bali is quite the dream, and the good news is, it is not unattainable, especially here in Indonesia. As long as you have the right budget, any property on the island could be yours. All you need to do is sort out a few essential details including types of property, location, budget and conduct your due diligence such as property types and regulations and you’re all set.

Let’s take a look at the 5 most important details you should not overlook when purchasing your dream ocean view villa in Bali:

1. Location

Location is one of the most important details when it comes to villa purchases. It would be nice to be perched along the edge of a cliff all on your own, or in the middle of the rice fields away from the city, or at the edge of a jungle, and while this all sounds incredibly romantic, remember that practicality is key and you would want to be in close proximity to essentials and conveniences.

If you’re a foreigner and planning to rent your ocean view villa in the future, chances are the location that you choose would also be appealing to other foreigners. Convenience is key and many people, yourself and your family included, wouldn’t want to travel too far to get to the town center, restaurants, schools, shopping, or the beach.

2. Property Ownership

Before signing on the dotted line and putting in any down payment on the villa that you’ve been eyeing, there are a few important things to consider. One of them is the type of ownership that is available in Bali and Indonesia. This is very important to know especially if you’re a foreigner.

The property title “Right of Use”, or “Hak Pakai” is the best option for a foreigner. With a built-in extension of 25 years, the title comes with renewal after 20 years with only a small tax implication. There is no mention anywhere in Indonesian law that these extensions or renewals cannot be continued as long as it is done on state-owned land. Some restrictions to this title would include the size of land and property and that you must hold a valid permit to stay in Indonesia such as a KITAP or a KITAS.

There’s also a commercial title, a commercial title, “Hak Guna Bangunan”, which means “right to build”. This title is compulsory for both foreign and Indonesian companies buying, selling, or managing villas for commercial purposes.

3. Budget

Owning a villa in Bali is definitely more affordable than, say, anywhere else in Europe. You could purchase a beautiful 2-bedroomed villa with a garden and a pool for as low as USD 120,000. The price will obviously increase depending on your wants and needs.

Asking price for ocean view villa is now between 30 – 50% below pre-Covid-19 asking prices. This means that now is the right time for you to take advantage of lower prices and low-interest rates. There would also be fewer people competing for each property so you can take your time to find the perfect villa that suits all your preferences. Don’t forget to factor in utilities like electricity, water, WIFI, cable TV, cleaning fees, garbage pickup fees, banjar fees, etc.

4. Access & Amenities

Check for easy road access and other amenities like running water, internet, and electricity. You really don’t want the additional headache and the stress of applying for and connecting your new home with all of today’s important essentials!

5. Legalities & Fees

Always go through the proper channels. Indonesia is a very bureaucratic country and it takes its property laws very seriously. Do not try to cut corners or go “the easy way out” or fall into traps like using a local person’s name on the paperwork. Other important things to remember would include background checks and transparent transactions that are paid in full. Do note that legal transactions must be carried out under the supervision of an authorized officer.

We hope the above was helpful! If you’re looking to buy or sell property here in Bali, you can always refer to Bali Property Direct, we are an innovative online property platform that connects buyers and sellers directly with each other. No agents are involved and therefore no commissions are due.

Click here to find out more!

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