A goal that many young people want to achieve in their career is perhaps a chance to have their own homes. Even so, some would also think that stocks will be a better option for investing rather than real estate. In some countries, most people prefer to rent their properties rather than buying them. In other countries, people prefer another way around. One factor that may affect people’s choice is the tax that applies in the concerned country. Another factor will absolutely be the financial condition. However, whatever your choice will be, there are several tips you should consider before renting or buying property in Bali.
Discover seasons of renting and buying property in Bali
Just like any other commodities, renting or buying property in Bali is all about supply and demand. The property business also brings together the seller and the buyer. If one property has attracted the desire of many buyers who are willing and able to pay for it, then the demand will grow up and affected its price. On the other hand, if one property does not attract the market, then the price will remain low. Now, when we are talking about Bali as the location of the property, there are some certain time when the demand is high and really high. This situation normally happens during the holiday season from May to August.
Be conscious of your goals
One of the most foundational thing that you should always note when you are about to rent or buy property in Bali is your initial goal of planning for it. Are you planning to use your future Bali property to live in it? Or are you planning to start a business there? Maybe just for investment? This kind of questions may help you a lot to decide whether to buy or just to rent the property. Another tip regarding your goals of owning a property is its location. If it is intended for business, then you should choose the area where many people come and go all the time. But if you are intended to live in it, you perhaps would prefer a more quiet area.
Conduct a “pro forma” analysis
Before you can go further with your decision, it is best that you first conduct a deeper analysis. One of a good way of doing it is by learning the detail information about the person or the company that is proposing you to renting or buying property in Bali. Research like this can relate to a “pro forma” analysis. It is an analysis that will show financial results using certain projections or presumptions which include the cost of operations and maintenance of the desired property.