balibule
gilbert de jong wroteone year or 18 months ago the fee's/costs for an IMB have changed...it used to be a set price per sqm, no matter if you would build a cowshack or a multibillion villa.
the change entitles from a setprice per sqm to a % of buildcosts.
Then there's a difference in IMB's...there's one valid for 5 years, and then there's one wich has no 'expiry-date'...
there's also a difference in percentage between building and swimmingpool...if I remember right for a pool they calculate 2,5% per sqm and for a building 1,5%...that's why I used roughly 2% in the example
Thanks Gilbert
I had a second look to my IMB invoice as I was not a 100% sure on my numbers. Turns out that the size of my building is 245 SQM (2 floors). I have no pool on my IMB drawing, but will have one built. It is also no cowshack ;)
The price I paid was Rp 2,021,000. This was last month, August 2011.
Still, the Rp 20,000,000 will most likely be true if you will have to rely on other people to process your IMB as I (actualy my Balinese wife) did it myself without agent.
Tango67
interesting topic,
having financed a new home for my wifes mother being built by builders from Java and supervised by her brother in law i have watched the costs go up and up and forever am putting my hand back in my wallet... in the end its not a lot of money as its a simple village house however this was a precurser to me building my own villa.
I am due to visit in December and hopefully it will be completed, i have my own piece of land in Jimbaran that i want to start building my own home on but think i will pay more upfront and go with a reputable firm from the start.
still not sure what a 2 story well built 3 bed villa with nice pool will cost me (excluding the land costs)...
Populaire care to elaborate on what i might expect to pay for a good quality build.
thanks
Tango67
Thanks, I would like to discuss this further with you offline.
Can you email me on Edwards.Colin at rocketmail.com
Populaire
Hi Tango,
Due to foundation and structural redundancy, you're not necessarily looking at more for a double storey build of the same size under roof as that of a single storey build. The issue really only becomes one of design aesthetics. An economically designed single storey 3 bedroom can have great proportions, yet if you try to stack that on two floors, without allowing for a slight increase in build size, you may end up with a Bali "box" rather than a well proportioned & functional villa.
So with that said, meeting the budget posted earlier in this thread is achievable - nicely appointed and turn-key, but allow an additional 5 - 10% for a double storey build if you'd like something that turns the heads of passers-by.
Hope this is of assistance..
All the best,
Populaire..
bobhope
If you have 100-300,00 usd you might have less hassle to buy one, If your looking to buy in kuta,seminyak etc your closer to 100m - 200m a are. Before Pecatu was built i was offered a house there by the sales guy for 800.000, i never took it because i later found out the development was funded by sohartos son but that would have been a great investment now.
For top end 300,000 usd thats about 3 Billion, I recently saw a 12 bedroom house for 2/3 of that price, 200,000 should get you somethign nice.
gilbert de jong
bobhope wrote
For top end 300,000 usd thats about 3 Billion, I recently saw a 12 bedroom house for 2/3 of that price, 200,000 should get you somethign nice.
so depends on the area...I'm up on a mountain far far away from anything really, hahaha...but for 2M you still couldn't buy my house, wich has only 2 bedrooms in the main house.
gilbert de jong
in Indonesia if you see 2jt, that means 2juta=2.000.000
if you see 2M, that means 2 milliar=2.000.000.000
just hold onto it if that's financially possible ofcourse,
what else have you changed to the house (just curiousity), since you spend 600jt (including land)...that's almost as much as building new house .
as for buying a house in UK, there are bargains to be had anywhere...but selling here to buy overthere isn't something I would do.
bobhope
Is that 2M or 2 billion
I have just finished my house Denpasar which was just a house when i bought it but over the years i have changed things, I bought the house from my father in law and after the land,building and work i have spent about 600,000,000, The neighbours have noticed the house because builders have been coming and going the last year.
The house sits on 3 1/2 Are and the house is about 2 Are on one level, with my work it now has 4 bedrooms and 2 bathrooms,
My wife is in Bali now and before she left we were talking about selling the house and useing the money to buy in the uk, A neighbour has been asking our builder if our house is for sale and the builder said i dont think so they have put alot of work into it, A neighbour approached my wife the other day and asked if she was selling, My wife said she might if the price was right, The neighbour offered her 850M , My wife told her land value + building + land size she was haveing a laugh, At first i would have considered 1B but my wife loves the house and my parents do to who hope to retie to Bali in a few years so i will keep it.
With european house prices falling apart i think Bali has more to offer the future.
Markit
Interesting story Bob and I gotta say it got kinda complicated but maybe that's just me? What with dad this and gran that and brother something else - sounds a bit like an episode of Jersey Shore (the British island of course).
What with you owing "dad" this and money from brother and gran do you actually own anything yourself? I ask because you are apparently married to a Balinese girl and this raises all kinds of other questions of ownership which if you've ghosted around the forum for a while you will have seen discussed.
As to selling here in Bali to make the down payment in the UK if I was you I'd wait a couple of years first - UK houses have a ways to fall still and Indonesia/Asia is still looking pretty healthy. Hope, hope and fingers crossed.
bobhope
My father in law has a house in Kintamani, Its has un-spolied views of Mt Batur directly in front of it and sits on about 12 Are, It would be a ideal location for a hotel and is about the size of a hotel, My father in law took the idea of large front windows fom my house so he could always get a view of the mountain from inside the house,
It has its own badminton court, a garage attached to the house that could easily take 6 mini-vans, large temple in the garden and outbuilding and enough space in the lower garden for 2 olympic size swimming pools.
Kintamani needs a good hotel but unfortunetly the house wont reach its full potential, My wife loves kintamani because its where she was born but im fussy with food and cant eat the local food so i never stay long, Though i love the scenery and its cool like scotland
bobhope
I always wanted a house in bali but just a average person with dreams, A few years ago my gran died and my brother was left alot of money, he verbally said he would give me enough money to put towards a house in the uk, other family got involved and so my brother cut my share to less then half what he promised.
Few months later i visited Bali and went to my dads (father in laws) new house in kintamani and he showed me his property and" said i have this extra space but i need money to finish my house so im going to sell it to the chinese" If my dad sold his land it would block his view mt batur so i said i would buy the land from him with the money i inherited through my gran/brother, with my share cut it wasnt alot anyway and my land was reserved for my old age, time passed and we agreed to buy my dads house in denpasar and let him have his land back in kintamani in exchange for a credit on the land pice towards the house and we would pay him the additional difference,
Because it was my dad we managed to get the land and part building for 350m, I spent 150m, on re-development last year, and another 75m on my latest work, in total about 575m but this has been spread out over time .
As for the UK, i dont own a house here i just rent, my house in bali is now 4 bedroom 2 bathroom with double garage and my home in scotland is just 2 bedroom,
In all my house cost 575m and i have been offered 850m, but i was looking more towards 1b and that would be a good amount of money to put towards a house in the UK , and the bank would give me a mortgage if i put that amount of money in up front but i have just completed my house, with my own mind and years of saveing and im not ready to just say " ok thats nice time to sell" i want to keep it for my children and let my friends and family share in bali and see Bali the same way i have fallen in love with the island and its people.
On a added note, My indonesian family tried to teach me Indonesian but many tourists can speak indonesian so i just look like another bule, I then asked my nephew to teach me Balinese and now i get so much further.
bobhope
I own 0% my wife owns 100% i dont really care, i love my wife and everythings fine.
I was holding back on my decision Markit because i also believe there is a better market in Bali, The euro is less then weeks away from breaking up, for sure.
begonia
bobhope wrote Before Pecatu was built i was offered a house there by the sales guy for 800.000, i never took it because i later found out the development was funded by sohartos son but that would have been a great investment now.
I am so glad to read this!!!! WELL DONE
