A millennial couple invested in a $143,000 vacation home in Bali. It’s become the crux of their early retirement strategy.
A Dream Realized: Building a Profitable Oasis in Bali
For Rory and Casey Jones, the allure of Bali was not just in its tropical charm but also in its potential for a sound financial investment. Their journey from Tasmania to the shores of Indonesia was fueled by a desire to create a tangible asset that could serve as both a source of income and a serene retirement haven. This narrative unfolds their strategic move to construct a villa in Bali, an endeavor that was both a leap of faith and a calculated risk, promising a future of financial freedom and idyllic living.Discover the Blueprint for Turning a Tropical Vision into a Lucrative Reality
The Adventurous Investment
Embarking on a venture far from their Australian roots, Rory and Casey Jones made the bold decision to erect a villa in the heart of Bali. With an investment of approximately 2.3 billion Indonesian rupiah, the equivalent of $143,000, they sought more than just a financial return; they envisioned a place to eventually call home in their golden years.
Their aspirations were rooted in the desire for a physical manifestation of their hard-earned savings, a departure from the intangible nature of stock market investments. At 37, Rory Jones expressed a yearning for something more substantial than mere figures on a screen.
Choosing Bali Over Other Destinations
After meticulous research and consideration of various locales, including Thailand, the Philippines, and Portugal, the couple was drawn to Bali's promising investment returns. Their findings indicated that Bali could offer a 15% annual return on short-term rentals, outpacing other markets significantly.
With Bali's favorable conditions for foreign property development, the couple, guided by their previous experiences in Southeast Asia, were confident in their choice. The island's climate, culture, and cuisine were already to their liking, setting the stage for their ambitious project.
The Journey to Bali
In 2022, Rory and Casey Jones embarked on their inaugural trip to Bali, dedicating three weeks to explore the island's potential. They engaged with legal experts and construction professionals, gaining valuable insights into the local real estate landscape.
Their explorations were thorough, ensuring they understood the unique offerings of each area to tourists, a critical factor in their investment strategy.
Selecting the Perfect Locale
With the goal of finding a location that was both accessible and appealing for their retirement, the Joneses navigated Bali's challenging traffic conditions. Their search led them to Bingin, a burgeoning neighborhood near Uluwatu, known for its tranquility and appeal to travelers.
Utilizing local Facebook groups proved to be a successful strategy in their land hunt, ultimately connecting them with a local who introduced them to the perfect plot for their villa.
Designing the Dream Villa
The couple's vision for their villa was a harmonious blend of modern industrial, bohemian, and Balinese styles. The two-story structure, nestled on a 3,300-square-foot plot, boasts two bedrooms and two bathrooms, with the entire project costing significantly less than purchasing a pre-built home.
By overseeing the construction, they ensured high safety standards and personalized the design to their taste, incorporating local craftsmanship throughout the villa.
Navigating Construction Challenges
Despite their careful planning, the couple faced setbacks, including a severe rainy season that delayed construction. Communication issues also arose, causing friction as the project neared completion. Nevertheless, they managed to overcome these hurdles, maintaining their vision for the villa.
The Financials of Bali Retirement
The villa, now available for rent on Airbnb, has garnered positive reviews and a steady stream of guests. Initially, the couple planned to spend part of the year in Bali, but the villa's popularity has led them to consider renting it out full-time for financial gain.
Rory Jones envisions retiring to the villa within the next five to six years, but remains open to the possibility of staying in Australia or adjusting their plans as circumstances evolve.
Future Plans and Advice
With aspirations to expand their property portfolio in Bali, the Joneses are not resting on their laurels. Rory Jones advises potential investors to temper their expectations, acknowledging that building standards and timelines in Bali may differ from those in their home countries.
By setting realistic expectations, they believe the process can be less stressful and more rewarding. Their story serves as an inspiration and a guide for others dreaming of creating their own slice of paradise.
