Australian Couple Builds Dream Home in Bali Despite Never Visiting Before
For Rory Jones and his wife, Casey, the idea of building a house in Bali appeared promising despite never having visited Indonesia.
The couple, hailing from Tasmania, Australia, aspired to early retirement and dedicated considerable time to stock market investments.
Jones, 37, expressed their frustration over seeing their investments as mere numbers on paper, prompting their desire for a tangible asset. After researching Bali real estate for sale, they decided to construct investment property overseas.
Jones, a photographer and videographer, explained that they saw this venture as an opportunity to earn a substantial income while having a potential retirement spot in a more affordable country than Australia. They specifically focused on buying real estate in Bali, seeing it as a strategic investment.
They considered locations like Thailand, the Philippines, and Portugal but ultimately chose to buy real estate in Bali due to its high return on investment and relative ease for foreigners to build homes there. According to ILA Global Consulting, short-term rentals in Bali can yield a 15% annual return, compared to 5% to 10% in other markets.
Despite their lack of experience on the island, they had spent considerable time in Southeast Asia, making them confident in their preference for the climate, culture, and cuisine.
First Visit to Bali
In 2022, the couple traveled to Bali for the first time. They spent about three weeks exploring the island and consulting various legal professionals and builders to gather insights for their project.
Jones noted the importance of understanding the different areas and their appeal to tourists, emphasizing the need for good infrastructure and accessibility due to Bali’s challenging traffic conditions. They also sought a peaceful yet developing neighborhood attractive to travelers interested in real estate in Bali for sale.
They eventually found a plot in the Bingin area near Uluwatu, facilitated by local contacts through Facebook groups. Although foreigners can’t own land in Bali, they secured a 30-year lease with an option to renew for another 30 years, paying approximately $44,700 for the land.
A Modern Tropical Villa
Their two-story villa, built on a 3,300-square-foot plot, features two bedrooms and two bathrooms. The total cost, including furniture and permits, amounted to about $143,000. Jones opted to build from scratch to ensure quality and lower costs compared to buying a pre-existing property in the Bali real estate market.
Jones highlighted the benefits of constructing their home, allowing them to set safety standards and design it to their preferences, blending modern industrial and boho styles with Balinese influences. The villa’s exterior boasts black steel window frames, a mezzanine-style design, and vaulted ceilings, while the interiors feature wood accents and locally crafted furniture.
The primary challenge during construction was a severe rainy season, causing delays and communication issues toward the project’s end.
Retiring in Bali
The villa, listed on Airbnb with a 4.58-star rating from 26 reviews, initially intended for occasional stays, has proven popular, leading the couple to consider continuous rentals for financial reasons.
Jones aims to retire in Bali within five to six years, focusing on saving and investing to achieve this goal, although they remain flexible about their future plans. They also plan to build more investment properties in Bali.
For those considering building a house in Bali, Jones advises managing expectations, understanding that standards and timelines may differ from those in one’s home country, reducing stress in the process. Exploring options to buy real estate in Bali can provide similar benefits for those seeking a lucrative investment and a potential retirement haven.
