Buying
Real Estate In Bali - Island Of The Gods
David
Leger Explains Bali - How To Buy Real Estate & How To Live There
By
David
Leger
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| About the author: David Leger
lives on the island of Bali and is associated with Bali Architects. Bali
Architects helps clients with, subdivision regulations, building permits,
site inspections, construction supervision, and project management. For
more information about real estate on the island of Bali, please contact
David 62+ (361) 978 - 897 or 62+ (81) 238 - 13957. Email: <legerdavid@hotmail.com> |
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| BALI
– “Island of the Gods” One of the most popular islands in the world,
this magical island is home to thousands of Expats from around the globe.
In this article, we will discuss the current real estate market, (what
you should pay for a luxury home, plus local construction costs to build
your dream home), starting your own business and why Bali is so attractive
for those seeking to live, retire and invest on this magical Island.
Escape from
America was a dream of mine for many years prior to moving to Bali, like
most Americans I was sick and tired of working for the United States Government,
still under the illusion that I actually worked for myself. We left the
east coast of America and made our escape to Bali in June 1998, selling
our home, furniture, automobile and dissolving our construction business.
Looking back it’s hard to believe that we actually moved lock, stock and
barrel to the other side of the world, taking our daughter Bridget, who
was 3, and our son Brandon who was only 2 months old |
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at that time,
keep in mind that I had no job waiting for me, and didn’t speak the language.
My family and friends thought I was crazy, they all said “ what will you
do for work, where are you going to live, what about your children, will
it be safe, can you adapt…………now I know who’s really crazy, it’s my family
and friends who still believe that America is the promise land, (the government
promises, and promises, and promises)
I know what
you’re probably thinking, if you’ve seen one tropical island; you’ve seen
them all. But hang on a minute, did you know that Bali has more variety
of flora than any other place on earth, that it’s vast terrain of mountains,
volcanoes, deep river gorges, emerald green rice paddies, and beautiful
beaches make it one of the most diversified terrains of any tropical island.
Many tropical islands are beautiful yet very boring, here in Bali you’ll
find endless exciting activities that improve your quality of life and
boost your health. Bali has three world-class golf courses, sailing yachts,
whitewater rafting, horseback riding, scuba diving, paragliding, lawn bowling,
bird parks, reptile parks, mountain biking, rice-trekking and many more
exciting things to do and see. No matter what you’re looking for, it’s
here on the “Island of the Gods”
Bali is one
of 17,000 islands that make up the Indonesian archipelago, the largest
archipelago in the world. Although Bali is clearly part of Indonesia it
operates more like an independent country, unlike the rest of Indonesia
that’s predomidently Muslim in faith, the Balinese are Hindu, a very peaceful
natured race that spend the majority of their time eating, sleeping and
breathing their religion. One of the most amazing things about the people
on this island is their giant warm smile; never before have I experienced
so many people that appear so happy with life. Just go to the bank, the
grocery store, out to eat, even passing someone in the street and you’ll
be greeted by a genuine smile and friendly hello. Americans are very welcome
here; most Balinese can speak English and are very eager to learn the language.
Where should
I live in Bali?
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This
of course leads us to the discussion of diversity, quality of life and
other issues…. If your ideal place involves having the best of both worlds
(convenience, services, clean air, clean water and removed from the hustle
and bustle) the artistic village of Ubud would be your choice. What’s in
this area ? Over 250 international restaurants, excellent jazz clubs, more
than 500 art galleries, world-class health-spas, beautiful hand carved
furniture, and the center of Balinese culture. The truly unique thing about
the Ubud area is, you can leave the hustle and bustle in a short 5 minute
drive, and find yourself deep in the jungle, along a deep river gorge or
out in the rice paddies watching the white herons gently strolling through
the grasslands. Ubud is home to hundreds of painters, writers, sculptures,
and musicians. If you like the color green, big trees, rivers, flowers,
huge mountains, rice paddies, and cool-air you’ll fall-in love with this
place called Ubud.
The wild nightlife
scene can be found on the south-end of the island, in the areas of Kuta,
Nusa Dua, Jimbaran, and Sanur. What's in these areas? Hundreds of
night clubs, discos, and bars that stay open till 4am, international restaurants,
5 Starr Hotels, world class golf courses, sailing yachts, and thousands
of shopping establishments. |
For other types
of entertainment there are bowling alleys, movie theaters, modern shopping
malls, and supermarkets stocked with a number of American
and European
brands. We call this area Baliwood or Balifornia, this is where the majority
of expats live in Bali, I left America to get away from this type of living,
that’s why I strongly recommend the Ubud area, it’s less than an hour drive
from the madness of south Bali, just in case you want to live it up.
Of course
if your idea is to get away from it all, then you’ll want the high mountain
range in the north of Bali, this area includes the villages of Bedugul,
Pacung, or Jatuluwi, you’d be hard pressed to find any tourist in this
part of Bali. What’s in these areas ? Mountains, incredible views, beautiful
oceans and cold mountain air… little if any services up in this neck of
the woods, but civilization is a mere hour away. In Bali you can have everything
or have nothing, it’s clearly your choice.
LOT COSTS
The price for
land all depends on where the property is located; attributes like road
frontage, utilities and public services will dramatically increase the
value; a lot located in the popular touristy spots of Kuta, Ubud or Sanur
will fetch a premium price. One can buy a ½ lot in the northern
mountains of Bali for $10,000 dollars; this type of land although very
beautiful, will offer little in the way of services or convenience. A decent
½ lot close to town, with nice views will set you back $40,000 or
more. Ocean front lots start at $75,000 dollars; this would be a ¼
acre lot 30 minutes to town. Premium ocean lots, like the one featured
in the picture above start at $250,000 and can easily run over $500,000
dollars, these beautiful lots are usually located in deed restricted communities
or very private locations. Lots on roaring rivers, or lots deep in the
beautiful rice paddies of Ubud will set you back $75,000 to over $150,000,
again depending on size and exact location. As I stated above, land in
Bali has increased 5 fold in the last three years and continues to rise
as I’m typing this article.
BUILDING
COSTS
While building
costs will of course vary on how complicated or luxurious you build, a
general rule is to figure on at least US$ 30 per square foot for a basic
cement block home with tile floors. Wood construction are very expensive
in Bali, the beautiful hardwoods such as Teak and Iron Wood must be shipped
from Borneo and Sumatra, if you decide to construct a home entirely from
hardwoods you can expect to pay US$ 100 per square foot or more.
For If you want the best, two layers of brick and three layers of plaster
would be your choice, only the best homes are constructed in this manner.
This is how our grandfathers built them in America, and those days are
long gone. A double brick home, with marble floors, top of the line
glazed tile roof, quality fixtures ect…….will cost US$ 50 per square foot.
Many materials are imported from Italy, Germany and America these type
of building materials will cost about the same as in the states, the real
difference can be found with local labor costs. A seasoned master
mason will charge US$ 5 per day and general construction labor will cost
about US$ 3 per day (no misprint, per day - not per hour). Plumber
and Electricians charge by the job, an average 1500 square foot home with
3 bedrooms and 2 baths will cost around US$ 500 to US$ 700.
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