Lombok is a small island situated in the West Nusa Tenggara province in Indonesia. It is regarded as one of the links in the chain of islands known commonly as the Lesser Sunda Islands. The Lombok Straight separates the island from the famed vacation spot of Bali to the western side. The size and population density of Lombok is very similar to Bali, which is one of the main reasons why it is compared so commonly to the gorgeous island of Bali. The latest population estimate states that the population of the country is around 3.3 million.
One of the biggest things that you should know about Lombok is that it is an emerging real estate market, making it a fantastic opportunity for investors. Hundreds of real estate projects have been started side by side and many major developers and companies have begun to develop villas and apartment buildings on the island. There are many Lombok villas for sale that you can browse online and decide whether you want to buy or not. Most villas in Lombok are generally quite spacious, with sizes starting at 120 yards and going all the way up to 2,000 yards or more. Here are a few things that you should keep in mind before buying a villa in Lombok:
Travel to Lombok
Before you make any decision, it is important to do your due diligence. Many developers often paint beautiful images on the web in order to attract investment from people. However, before you transfer the money, you should visit Lombok on your own and talk to the real estate agents within the area.
This will give you an idea of how the real estate market is shaping up in the region. For instance, some neighborhoods are priced higher than the rest. You need to know which ones. You also need to know about developers operating within the region, and whether the properties are built on legally owned land, etc. Talking to a local real estate agent is perhaps the best option in the beginning, since you will receive all of the information that you need in order to decide whether to buy property in Lombok or not.
Physical Inspection
Now, if you are going to buy a house in Lombok, it is unlikely that you will live there for a longer period of time. You might visit from time to time and spend a few days in the area. Or, you may hold it for a few years and sell it for a profit. In fact, many people buy property just to use it as a vacation or holiday home. Either way, physical inspection is necessary before you purchase any villa in Lombok. Visit the property and take a look around. Find out about the quality of the tiles or construction materials used in building the house, and then determine whether the house is worth the price being asked for it.