Bali, the island of the gods, astonishing for its natural beauty and cultural importance has always attracted tourists from all around the world. It is for this reason that many people may want to own a piece of property on such an island, especially a holiday home with a private pool. It is very encouraging to picture spending days in a private villa teamed with a cool pool amidst the tropical backdrop. But because this kind of property is quite different from conventional residential homes, it is also wise to familiarize yourself with its benefits and risks before venturing into it.
Advantages of Owning a Holiday Home with a Pool in Bali
- Privacy and Comfort: A major benefit associated with ownership of holiday homes is the issue of privacy. Unlike usual when traveling or visiting public places, one could sit back and enjoy the company of family or friends without the hustling and crowding. A private pool also brings additional convenience in the sense that one can swim at any time of their own choice without having to wait in line or share with other people.
- Profitable Investment: Properties in Bali, especially in tourist areas, tend to experience significant price increases. By owning a holiday home, you not only get a comfortable place to stay but also an asset that has the potential to be profitable in the future. Additionally, you can also rent out your property when it’s not in use to earn additional income.
- A Better Lifestyle: Having a holiday home in Bali is beneficial as it raises one’s standard of living. Imagine having the opportunity to wake up in the morning to scenes such as green rice fields, having breakfast by the pool, and later in the evening take a walk along the beaches.
- Potential for Passive Income: As mentioned earlier, you can rent out your holiday home through property rental platforms or travel agents. This way, your property will generate passive income, even when you’re not in Bali.
- Expanding Your Social Network: Owning a holiday home in Bali will help you to come across people from many other countries. The given activity also allows you to form new friendships and develop a network of contacts.
Disadvantages of Owning a Holiday Home with a Pool in Bali
- High Maintenance Costs: Having a private pool at home is not as easy as many people might think since the process of its cleaning is rather complicated. You have to mind the maintenance costs, hiring gardening services, and paying more for water bills. Besides, properties in Bali also need constant repair and maintenance to keep the properties in the best shape possible.
- Property Tax: The Indonesian government also exercises the property tax which will be paid by the property owners. The tax will depend on the value of the property and the area it is situated in.
- Natural Disaster Risk: Bali is located in an earthquake-prone area and other natural disasters. Although rare, this risk needs to be considered before deciding to buy property in Bali.
- Challenges of Remote Management: If you are not a full-time resident in Bali you must look for someone who can take care of your premises for example a property agent or an estate manager. It is challenging to come across a person who is both hardworking and credible at the same time and can be trusted to work on the project in question.
- Local Regulations: Each region in Bali has different local regulations regarding foreign property ownership. You need to understand these regulations before making a transaction.
Tips for Choosing a Holiday Home in Bali
- Location: Choose a strategic location, close to public facilities such as restaurants, shops, and beaches.
- Security: Make sure the surrounding environment is safe.
- Facilities: Consider the facilities available, such as a swimming pool, garden, and kitchen.
- Legality: Ensure all property documents are complete and legal.
- Budget: Determine a realistic budget, including purchase costs, taxes, and maintenance costs.
Conclusion
Owning a holiday home with a pool in Bali offers many advantages, but also has some challenges. Before deciding to invest, carefully consider the pros and cons. Do enough research, consult with a trusted property agent, and make sure you have everything well prepared.
holiday home, private pool, Bali property investment