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Small Real estate (Home) purchase YES/No Thoughts guide lines !!??

Discussion in 'Owning Property in Bali' started by odez999, Jun 15, 2016.

  1. odez999

    odez999 Member

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    What do you guys thing about small cluster (and not so small) homes ... you those on 1 are .. and its variations ... !?
    Usually I find it its offerings on down payment of 10% and can be credited like on 15 years or so ...
    So when you purchase something small for like up to 600 million monthly rate tend to be around 5 milion ! (dephends if you take it on 10 or 20 y etc ..)
    I thought moving from renting to something like this !!

    Locations are usually far off .. but sometimes you can find something which might suit our needs ... in Nusa Dua etc ...
    Some of these small cluster home & condos projects seems to sell realtevly fast ... when I look at some projects .. are sold out fast ...

    I wonder if you buy on credit .. is it tied to rupiah .. or how ? I mean does it pay off ... with all this inflation and rupiah going down and what not ...
    I know that people who took credit for for homes around where I live . .they are defenetly now in big + even with those ripoff interest rates ...

    How smart is to take home loan over wife (or how ?) for small cluster home somewhere near let say GWK in Nusa Dua !?
     
  2. spicyayam

    spicyayam Well-Known Member

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    I suppose it is one for ordinary Indonesians to own a property. Otherwise what chance do they have unless they have to buy a property in Bali.

    I did read about a case where someone bought one and they made payments to the developer. When they tried to sell it, the developer claimed he didn't receive any of the money.

    I think the usual way it is done is through a bank. Some banks may not loan money if an Indonesian is married to a foreigner.

    Expect the construction to be of very poor quality.
     
  3. tel522

    tel522 Member

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    yap poor construction , hard to re sell , the market is on a downer for sure ,
     
  4. odez999

    odez999 Member

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    Yea I know it is poor quality. Everything is in here.

    But for market as a downer ... well if it is a downer ... the prices should at least stagnate or go down a bit. But seems like it is not the case in any real estate ...
    In fact seems like everything is getting more and more expensive .. year by year .. from groceries to housing and insurances, fees or whatnot ...

    The more you wait the likely you gonna more to pay .. ?

    For example .... A property of building with KOSTs (8 KOSTs) crowded but let say for middle upper class . .no swimming pool but have all other . AC .. nice LED TCS .. Hot water etc ...
    Sold for like 10 bilion or something .... I do not know exactly ... In south Denpasar. When they told me how much was it .. for me it was wasted money .. No way I would ever buy something like that .. I mean .. you need quater of century to to paid of with rentals .. or something ... (and that is only in theory)
    But .. it sold pretty quick ! Some Chinese guy bought it !!??

    I mean you need to be SEA expert and to understand living culture, and what not. Coz I can see many 50 000 USD cars parked in yards of homes where I would not keep chickens (dusty, no light, smelly) But if you ask them it is OK !!?? (they tend to live in tunnels with very poor lightning all life calling home, especially in Denpasar)
    I do not know .. seems like us have very very different priorities in life. Even when it comes to housing and places we called "home" !

    Back to topic ... Can someone tell me if those loans/credits offered by developers/banks are tied to Indonesian Rupiah nowdays or .. ? I am asking because inflations seems unavoidable one way or the other.
     
  5. ronb

    ronb Active Member

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    I rented one in Lovina once. Build quality OK. Referred to as BTNs because that is the bank that funds them. I expect they would only deal with Indonesians who can own the land. A number of people default on payments, then the bank repossesses and resells.
     
  6. odez999

    odez999 Member

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    I know Indonesians can only own it. And it is common sense that if you stop paying that all prevoius payments would be gone and bank will repossess it. Prepare for the worst .. hope for the best :D

    And when it comes to quality. We need reference point, to determine quality. For example for me it is also OK , if the cracks appear a year after, if the roof is leaking somewhere few months after ... etc etc .. It is expected in here ! If not it would be a bonus. But for some let say German standards of living where everything needs to be under 90 degrees and there is no room for improvisations. This is freaking nightmare !

    That is why I always look that I have enough $ and that house is small enough so I can fix any major problems ... (without duck tape and bamboo) so it is at least livable.
    Major overhaul or semi overhaul is always possibility (even nessesity if they fu*k up sewage system, we do not want get sick in here do we)...

    BTW I find in many homes in toilets, ground leaned on the wrong side of the drainage. So water is always stuck in corners. I do not know why this is such a big problem, but after when moisture comes inside walls ..bye bye ... CRAZY ! (and they do not use special waterproof thing, but plain cement for tiles)

    There are so many "little things" which adds up and later it is one big freaking nightmare. (especially if you are not alone skilled enough to do some work on your own, or at least supervise the work is done properly ... sometimes :D )
     
  7. tel522

    tel522 Member

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    I would comment re prices for perumahan houses the kind your speaking about ,I know well one area in nusa dua ,built 8 years ago selling price was around 800 juta 2/3 bed , 10% never sold , 6 years later 40% of the village full renovation new roof etc . current selling price around 700 juta , and they are very slow selling .
     
  8. odez999

    odez999 Member

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  9. tel522

    tel522 Member

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    no link im afraid , I rent nearby.
     
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