Should I buy or rent a home in Bali?

If you have not spent a lot of time in Bali, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"Deciding whether to buy or rent a home in Bali, depends on several factors, such as your financial situation, long-term plans, and personal preferences. If you plan to stay in Bali for an extended period and have the financial means, buying a home can be a good investment. Owning a property allows you to build equity, customize your living space, and potentially generate rental income if you decide to lease it out. Additionally, Bali's real estate market has shown steady growth over the years, which could lead to an increase in your property's value. On the other hand, renting a home in Bali offers more flexibility and fewer responsibilities. If you are unsure about your long-term plans or prefer not to commit to a large financial investment, renting may be the better option. Renting allows you to explore different neighborhoods and types of homes without the commitment of ownership. It also frees you from the responsibilities of property maintenance and taxes. It is essential to consider the legal aspects of property ownership in Indonesia, as foreign nationals cannot directly own freehold property. However, they can acquire property through leasehold agreements or by setting up a local company. This process can be complex and may require professional assistance. In conclusion, the decision to buy or rent a home in Bali depends on your individual circumstances and preferences. Consider your financial situation, long-term plans, and the legal aspects of property ownership before making a decision," explained one expat living in Bali, Indonesia.

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