Since the borders reopened in April 2022 after COVID, the real estate market in Bali has been booming. Across the island, new construction projects are sprouting up like mushrooms. Especially in the southern part of Bali, new construction projects are overwhelming the market.
We also see a significantly increased demand for these new homes, and there are certainly good reasons for this. New villas have several advantages over existing homes. We will outline a few of these advantages for you.
- Firstly, in most cases, you have a longer lease period on the land.
- Additionally, everything in the house is new, so you can assume that the materials used will last a long time. Especially in recent years, the materials used in construction are of better quality than those from many years ago.
- You will need to perform less maintenance on the house in the coming years.
- The project developer provides a warranty on the house.
These are the main reasons to choose a new villa.
However, existing homes often have much more character and charm. The vast majority of new construction consists of interchangeable designs that often have a Mediterranean look. Whereas 10 years ago it was suddenly a trend to build a joglo villa, now it seems that every villa must be white, feature many arches at the windows, and have small niches in all the rooms. These types of designs are now the most offered. Of course, it is always possible to build a custom-made villa, but project developers often choose this Mediterranean design.
An argument we often hear about existing construction is that you see what you buy. That is true. However, we can counter that you also buy what you don't see. By that, we mean you can't tell if the plumbing in the house is still in good condition, if the wiring meets current standards, or if the roof is still intact, etc. These kinds of problems can be mitigated by obtaining an independent inspection report. This way, you know what to expect if you choose an existing home.
What is better? We leave that choice to you. The purchase of a home involves personal taste. Do you like the design? Where is the house located? Is it in a nice location, or do you have concerns about what might happen at that location in the future? These factors play a role in the purchase of your future home. A real estate agent can tell you beautiful stories about it, but ultimately, you will have to rely on your own feelings.
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