How is the Timing of This Whole Charade Impacting Your Dreams
Is Now the Time to Buy that Gorgeous Villa in Bali or is it Better to Wait?
Well, if you are here in Bali at the moment then you know that it is a pretty good time to buy real estate for a number of reasons beyond the obvious. If you are not here, and you are not comfortable investing in real estate over the phone and settling by use of Power of Attorney agreements, then no, now is not likely going to be ‘your time’ to invest. However, it just may be a good time to improve your education on the nuances of our market. Is “your” villa out there somewhere? How do you take ownership? What can you do NOW that will help maximize your investment later?
Perhaps you’ve only recently discovered Bali or you have been looking into the Bali property market for some time already. Then along came the virus which has sat down beside us and now nothing seems as certain as it once did. We’ve all been impacted and Bali is no exception. All flights from and to Indonesia are cancelled until the 1st of June at best, and the wonderful island of Bali and its’ people, so dependent on tourism, are now facing unprecedented conditions. Despite the fact that the number of confirmed cases is still significantly low, Bali is facing tough times and nobody is quite sure how long it will last.
What does this do to your dream of buying that gorgeous villa? Should you cancel or postpone your plans or go ahead and buy property while the iron is hot? Is it a great or a ‘not so great’ time to invest in Bali property?
The answers to these questions really depend on your individual circumstances, needs and resources. In short, yes, it could be a great time to buy property in Bali as the market is down, interest rates are low and the US Dollar is strong compared to the local Rupiah. However, at the same time, there are a lot of uncertainties. When will global travel open up and return to its’ new normal? How long will it take for the daily rental market to resume at a good and profitable pace? And more.
First-time buyers have the advantage of not having to worry about selling property. They only need to look for the best agent they can find who can help generate one of those “great” deals which are plentiful, as sellers are likely to lower their prices for fear that they won’t be able to sell under the current and soon to be future conditions.
Maybe your brief is not the typical brief, and you are reading this in the comfort of your home overseas. You may read this and you feel that, no, now is the time to buy our super cool place in Bali. Alternatively, if a delay for another 4-8 weeks is not a problem and your financial situation is stable despite the current situation, go for it! Open up negotiations on that villa you’ve been keeping an eye on. Find a reliable agency and find that gem.
If you are like most people, you would probably prefer to keep doing your homework and when the airports open for business, you’d like to be among the first to get on a plane an hop over here to put into action that plan of attack that the lockdown has afforded you the opportunity to co-create with the right team in place up here in Bali. Do make sure you inform yourself well as buying properties in Indonesia is not the same as it is back home but I’m sure you know this already. If not, check out this article.
Is your situation stable? Are you well-informed? Are you OK with some fluid delays and some manageable operational complications in these uncertain times? You could be looking at incredible low-interest rates and great deals on beautiful private luxury villas with superb locations. Tough times, changes and opportunities go hand in hand, always.
As always, Bali Nirmana Property thanks you for your support.