Bali is one of the most beautiful places on the planet. There you will surely enjoy exotic nature and equally exotic architecture. It is a very specific place that contains many temples, beautiful beaches, and amazing flora and fauna. That is why many investors are interested in Nusa Penida.
There is a real opportunity to organize your business in a country that is a very attractive place for wealthy tourists. The cost of living here is not high, people are always smiling and the original culture will never bore you. That’s enough arguments to leave everything and buy a property. However, before you do that, ask yourself a few questions about buying land.
1. What does the location of the property look like?
One of the most important items is the right location. That is why this is one of the first decisions you will make when looking for a suitable property. Whether you want to live on it or rent it, you should find a location that suits your desires and needs. You need to study this place in detail because you need to know what you are renting to potential guests. We are sure you want to provide them with the perfect location to enjoy the island. For example, ask yourself if it is a popular area if there are development projects nearby, how good the surroundings are, and how far the beach is from the property.
Try to find out as much as possible about future plans for this area. The distance to the beach is probably the most important item to think about if you want a good return on investment. This factor can be decisive when it comes to guest decisions. An equally important factor is the environment. It is best to consider properties that have a quieter environment. Although Nusa Penida is a great place, it is sometimes very noisy, especially in places that are close to tourist attractions. That’s why it is necessary to check this to find out more about Nusa Penida Land for sale
2. What are the rules for landowners in Nusa Penida?
Before you decide to buy a property, experts in this field advise that the most important thing is to know the law of a particular country. If you are a foreigner, it can be quite problematic to invest in real estate in any country. However, this is especially true for Bali. Therefore, you need to check the zoning to prevent potential problems. There are several different zones and there are special rules for each. This means that you need a business permit in residential areas.
Of course, before that, think about planning activities. Determine that these activities are compatible with the local zoning laws of the property you plan to purchase. Remember that there is a residential zone, a zone of tourism, shops and services, an industrial zone, a protected area, and others. For example, you cannot, as a foreigner, obtain a business permit in residential areas and run a business there. You also cannot do business within the green zone, because this zoning protects the land for agriculture.
3. What is the size of the property?
The next item you need to pay attention to is the size of the property and the land. Since you will find different residential buildings here, explore their characteristics. Each type of villa has its own market. For example, smaller villas are more popular in the city, while rich tourists mostly opt for larger villas. The size of the land is important because it can limit you or give you new opportunities. If you find enough land, you can build two smaller villas. If each has its own pool, garden, and entrance you will get a very flexible rental.
Larger villas can be used for various purposes. Very popular reasons are weddings, birthdays, bachelorette parties, etc. Destination villas are equally popular. They offer a high level of content and services. So, offer your clients the service of food and drinks that will match the famous hotels. That way, guests will not need to leave the facility for daily activities and dinner. Once you understand what you want to achieve with market positioning, think a little more about the previously mentioned items.
4. Is it necessary to do a soil analysis?
Before you start building a facility, you need to get information about the terrain. Based on the analysis of the soil, you will find out all the characteristics of the terrain on which your facility will be located. This is an opportunity to determine which design best suits the foundation and structure. This is especially recommended for those who are considering buying soft land.
5. Are there hidden tax costs?
Before you buy land on Nusa Penida, check if the previous owners have settled the debts. If they have not paid the land tax, you will not be able to apply for a building permit. This prohibition also applies to any other documentation in the case of unpaid taxes. Unpaid taxes directly affect the value of the property. In such a situation, there is often a negotiation of the purchase price with the landowner. The key step in investing in property is to check with the previous landowner.
Unfortunately, a large number of land certificates are obsolete, which is why the current legal owners are often not listed. Don’t forget to check who is hiding behind the property. In this way, you will avoid bad consequences. For example, it happens that the land certificate remains in the name of the person who has already passed away, and then all the heirs should be included in the process.
6. Is access to a public road available?
As mentioned earlier, buying a property in Nusa Penida can be challenging. One of the challenges you may face is limited access to your property. For example, some properties do not have access to roads.
To avoid this embarrassing situation, make sure there are no restrictions. If the owner asks you for compensation for the use of the public road, simply contact your lawyer who will make a contract for the use of the road with the landowner.
Nusa Penida is described by many tourists as a paradise on earth. However, doing business in this area can easily turn into complete horror if you do not have enough information. So try to avoid common issues when buying land.