Owning a property is everyone’s dream. It is a form of home which creates a feeling of safe and comfortable. Years of working hard always seem to worth to buy a beautiful real estate, especially on the island of God, Bali. However, buying property is way more complicated and complex than someone can imagine. One of the easiest and cheapest way to have a leasehold of the property. By leasing property in Bali, you may also have the possibility to spend some life in the paradise island, just like what the freehold offers. But, as a concrete consideration, you might be interested in these few advantages and disadvantages of a leasehold property.
Why leasing property in Bali?
For quite some time, leasing property in Bali has become a popular option for owning a beautiful home in this touristy island. As one out of two options of owning a property in Bali, leasehold, indeed, is carrying some attracting benefits for you. Both the foreign and local buyers are normally prefer leasing property because of its cheaper price comparing to a freehold property. In addition to that, a leasehold property is also providing you less responsibilities regarding the maintenance of the property because in most of the case this should be the landlord’s obligation. Normally, a leasehold property has also provided the leaseholder with all the furniture needed, so that there is no need to arrange such interior design anymore. Another good reason for leasing property in Bali is when you do not own Indonesian citizenship.
Why not leasing property in Bali?
To own the same product, leasehold can sometimes be more complicated than freehold property. Since the landlord is holding the responsibility of the property, then he also tends to give you, the leaseholder, a set of rules. As a leaseholder, you will have less freedom because you need to follow these rules during the leasing period. Moreover, you will possibly need to pay an extra service charge to the freeholder. And as the leasehold term expires, you need to pay another bill for the extension to continue your ownership. The contract for leasing property in Bali is typically last for 15 to 30 years, it depends on the agreement between the landlord and the leaseholder. The worst thing about leasing a property, especially for young adults, is that you should continually prove your ability to earn the necessary money for either paying the upfront cost or for extending the period of leasehold.