retiring in paradise
A Millennial Couple Invested In A $143,000 Vacation Home In Bali. It's Become The Crux Of Their Early-Retirement Strategy
For Rory Jones and his wife, Casey, building a house in Bali seemed like a good idea — even though they'd never been to Indonesia.
They wanted a tangible asset, and after some research, they settled on the idea of building investment property overseas.
[The front of the villa. Rory Jones]
The couple had considered Thailand, the Philippines, and even Portugal, but they ultimately chose Bali because their research showed that it had the highest return on investment and that it was relatively easy for foreigners to build a home there.
According to ILA Global Consulting, it's possible for short-term rentals in Bali to yield a 15% annual return on investment, while other markets offer 5% to 10%.
[The primary living space. Rory Jones]
In 2022, the couple hopped on a plane to Bali for the first time.
Although the couple had never been to the island before, they'd spent a lot of time in Southeast Asia.
They were there for about three weeks, exploring the island and speaking to different legal professionals and builders for more insights on how they could get started with their project.
[The kitchen. Rory Jones]
Since foreigners aren't allowed to own land in Bali, the piece of land they have is on a 30-year lease, with the option to renew for another 30 years. They paid 720 million Indonesian rupiah, or about $44,700, for it.
The two-story villa, which sits on a 3,300-square-foot plot, has two bedrooms and two bathrooms. The entire build, including furniture and permits, cost 2.287 billion Indonesian rupiah, or about $143,000.
[One of the bedrooms in the house. Rory Jones]
According to the property website Propertia Bali, a new two-bedroom villa near Bingin can cost from 3.525 to 5.575 billion Indonesian rupiah, depending on the size, the complexity of the build, and the lease left on the land.
[A cozy corner of the villa. Rory Jones]
The building looks modern on the outside, thanks to the black steel window frames, a mezzanine-style design, and vaulted ceilings. In contrast, the interiors are cozy, with lots of wood accents and furniture.
"We knew that the building itself was quite modern, so we wanted to bring a lot of the tropics and a lot of Bali into it with the interior design," Jones said.
To see the rest of the couple's villa in Bali, head to Business Insider.
