Rory and Casey Jones, a couple from Tasmania, Australia, built a villa in Bali for 2.287 billion Indonesian rupiah, or about $143,000. They wanted to invest in a tangible asset that would earn income and also serve as a retirement home. Despite never having traveled to Indonesia before, the couple decided to pursue this project as a way to have something to show for their savings, apart from numbers on a piece of paper. They settled on Bali after considering other countries due to its high return on investment and ease of building for foreigners.
After conducting research and spending time exploring different areas of Bali, Rory and Casey found a piece of land in the Bingin area near Uluwatu, a popular travel destination. They had to lease the land for 30 years, with the option to renew for another 30 years, as foreigners are not allowed to own land in Bali. The 3,300 square-foot villa they built on the land includes two bedrooms and two bathrooms, costing a total of 2.287 billion Indonesian rupiah. Building from scratch allowed them to control the quality and design of the house, incorporating a blend of modern industrial, boho, and Balinese influences.
Despite facing challenges such as a delayed construction due to bad weather and communication issues with the builders, Rory and Casey successfully completed their villa. They chose to rent it out on Airbnb for financial reasons, with a plan to potentially retire there in the next five to six years. While they acknowledge that plans may change, they are working on saving and investing to achieve early retirement goals. The couple intends to build more investment properties in Bali in the future, emphasizing the importance of managing expectations when building a house in a foreign country like Bali.
Rory advises others considering a similar project to be prepared for cultural differences and challenges in construction standards. He recommends expecting delays and differences in methods compared to what one might be used to in their home country. Despite the difficulties faced during the build, Rory and Casey are satisfied with the outcome and the potential for their villa to serve as a source of income and a future retirement home. Their story of building a villa in Bali serves as an example of pursuing investment opportunities in foreign countries and the importance of thorough research and preparation before undertaking such projects.
