Property Investment: Develop it yourself

Dec.11, 2008 in General

Generally there are two types of carrying out property investment in Bali.

1. Do it yourself

2. Let the property agent handle everything.

In this issue I will explain option number 1, DO IT YOURSELF, Start from scratch.

Why I give choice of this option? Isn’t it easier to let property agent handle it and you just receive all finished.

Because:

a. You want to have single property in Bali, will use it for retirement, meanwhile you want your property occupied by property operator so you also get revenue, but you get limited budget.

b. Maybe you are expatriate worker in Bali, have some savings, instead of investing your money on stock market (that’s today as we know together it’s in crisis, too risky), you do property investment. You have known Bali, the situation, market price of building construction and material, knowing well local guy or contractor and architect. You have time to concentrate on your project.

There are several factors that you have to concern on yourself property investment.

1. Get started with legal action. You have to know your right and must do to have property in Bali. I have mentioned this on other article related to Bali legal. Call your local legal advisor.

2. Start browsing by yourself or with property agent which land is prospect with affordable price. There are actually many freelance land agent in Bali, maybe he/she is you friend, your maid, your colleague, or even taxi driver, or hotel bell boy. First thing of all cross check with property agent about some local area land price. It is different on different area. Check it on other article. Also about land status, how many years for lease is proposed, and after what about the chance of extending the leasing. Remember always cross check price to make sure your investment put on the right place and not redundant or excessive

3. After finish everything with the land now gets contact with local architect. Describe everything you want, the impression, the feel and the touch of architecture, interior finishing. Ask them to provide with 3D art impression images so you know the final image of your property/building. Consider with local material building. It doesn’t have to be expensive, but the touch should be luxury or international rate. So when you ask property agent to market your property to be rented it will get best price of rental. Consider also making it unique, the facility is complete (telephone line, electricity, internet connection and the entire five star hotel provide). Meanwhile also get started to take care of building permission. Usually the attorney could handle or even the architect or contractor. They have good relationship government officer of building permission division. This is very important to do

4. Now get some contractor to do your project, or even some time in Bali local architect also act as contractor. Again cross check the local price. Don’t be too excessive or even too economic. It’s too bad to get your property finish with bad touch. Again this is property investment, the good looking and well finished is a must.

5. When your property on construction, take sometime to look around they finish your building. Cross check with the architect’s drawing that everything exactly as planned, such as material use. These need your time, effort, concentration.

The advantage of all is you exactly as you dream with reasonably priced for your property investment.