There are a lot of outdated villas in Bali from the last decades that are no longer attractive in the eye of modern travelers. Often, these properties are located right in the hot touristy areas—but having low occupation due to the old and outdated building. This could serve as an opportunity for people—both Indonesians or KITAS holder—who are interested in doing house flipping in Bali. Buy an old real estate for sale in Bali, do some renovation to improve the value, hold or rent it out for two to three years, and sell it again at better price.
Buying Real Estate in Bali and Turning It Into A Luxurious Villa
Knowing what improvements boost house value is more important than ever when you plan your upcoming renovation job. You can buy a cheap real estate for sale in Bali and, with the right touch, turn it into a luxurious villa at half of the cost of the purchase. We’ve put together this list of 8 home improvement suggestions so you can choose where to spend your money more wisely.
Create A Home Office Inside the Villa
Bali is one of the biggest hub for digital nomads! When people moves to Bali, they are more concerned about a home office than they are about a house’s readiness for move-in or minimum square footage. Buyers in Bali occasionally look for additional home offices.
If you live in a place where a sizable number of individuals telecommute, either setting aside new space or remodeling existing space to serve as a home office will probably be a wise investment.
Repaint the House
It’s amazing how a simple paint job can significantly improve a house looks and value. Your home’s appearance can be instantly updated and improved with a fresh coat of paint. Realtors advise utilizing warm neutral hues like beige, tan, or gray. Additionally, cold neutral hues can make tiny spaces appear bigger. Your home’s exterior may also require updating because it is continually exposed to the weather throughout the year, leading to chips, cracks, and flaking. The home may look brand new with a decent power wash and paint job.
Renovating the Bathroom
One of a home’s most important rooms is the bathroom. If your bathroom is more than ten years old, it needs to be updated if you want to increase the value of your property or make it more appealing to potential buyers.
A new coat of paint, new cabinets, faucets, showerheads, and countertops, as well as the installation of new sinks and tiles, are all upgrades that may make a big difference. Some of the most look-after amenities in a bathroom at a villa in Bali are mirrors, stone sink, and bath tub. People also love a semi outdoor bathroom with ample of natural light and plants when they are in Bali.
Another space that is high on the hierarchy of wants for buyers is the kitchen. If you want to build a Bali luxury real estate, you definitely need to pay extra attention to this space. Your home’s worth will increase dramatically if you have a beautiful kitchen.
To make it appear more open, you may take out non-load bearing walls, add a kitchen island, swap out outdated appliances for new ones made of stainless steel, update the backsplash, paint or replace the cabinets, or add granite countertops.
More Vacation Rental & Business Insight:
Change the Flooring
A property gains value when new carpet, hardwood, or tile are installed. Tile is more common in many houses in Bali due to the hot and humid weather than hardwood flooring. You can remove the old tile and replace it with wooden floor for a prettier look, but it cost higher to maintain. Alternatively, you can opt for wooden-motif tile to replicate the look for lower budget and easier maintenance.
Adding More Space to the Original Bali Real Estate
This goes beyond merely expanding the property with an addition. It could also entail finishing a basement or unfinished attic to increase the amount of living space on the property. Another option would be to convert an adjacent garage into more living space.
A Complete Renovation to the Old Bali Real Estate
When the old Bali real estate come in poor condition that’s beyond saving—or when your house plan is significantly different than the original floor plan, maybe it’s better to gut renovate the property. If you can sell the property for more than you owe on it plus renovation and holding costs, completely renovating a property by tearing it down to the studs and rebuilding it with more contemporary design and materials will raise its worth.