Follow this simple checklist in order to ascertain what is the right location for you.
Most people have a specific location in mind when looking for a property. Whether that is for a condominium to rent in Jakarta or a villa in Bali. The location is decided and then the hunt for the right property starts here. The location can influence your time living in the property and also how much it increases in value. Therefore it is wise to consider these number of factors when determining what is the right location.
1. What are your priorities?
Make a list of the places that you want to be close to and then prioritise these. You may want to be close to one of Jakarta’s city’s coffee shops to enjoy at the weekend. Or you may be fed up of the traffic and prefer to live closer to where your children go to school even if that means you need to travel further to restaurants and entertainment. Everyone has different things that are important to them so make sure that you remember what will make your day-to-day life easier when looking for a new property to buy.
2. Can you be sure that the property is future proof?
Moving can be a costly exercise once you have paid taxes and fees not to mention the cost of actually moving your furniture. Therefore it is wise to consider the future and just not the here and now. Therefore if you know your company is moving location in the near future or you are planning on extending your family, consider these points when finding the right property to save having to move twice. This applies to if you are up-sizing or down-sizing too. Think ahead and plan for the future where you can.
3. Is the purchase a buy-to-let investment?
If you are buying an investment property in Indonesia as a buy-to-let investment, then the requirements for the property will differ depending on what market you are aiming for. Remember tenants want their lives to be easy. It could be the case even that they cannot afford to buy a property in their chosen location so they have decided to rent there instead. A family will want be to be close to schools and outdoor recreational areas, whereas a young professional will want to be close to entertainment and work. Speak to real estate agents to work out what tenants demand and then find a property that fits this bill.
4. Have you researched for any proposed improvements?
Take some time to carry out a bit of homework to determine if there are developments in the pipeline. This could be for new amenities, schools or infrastructure. Any new developments generally cause a ripple effect to the surrounding area, assuming that they are a success. Get in before any works have commenced and you will reap the benefits even more. Keep your ear to the ground and you will need to make sure that you are one step ahead of the game to be astute to any future developments that might be on the cards.
5. What is the setting like?
It easy to think of location just as the geographic location. But the setting is important too. This can be translated as the outlook or even the position within the building if you are purchasing a condominium unit. For example, the higher units tend to warrant a higher price tag as will have less obstructed views. Hence penthouses being at the top. But also consider other things such as whether there is another building next door which could obstruct the view. Plus remember some directions are more favourable than others if they do not directly face the sun. Also think about where the building’s amenities are. Where you can you will probably want to avoid living next to a noisy lift shaft or the rubbish shoot.
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