Buying Residential Property in Dubai:
The most important factor is taking assistance from a reputable property agent or the real estate agency.
- Take advice from local citizens if you are new to Dubai.
- Share with your agents the needs and budgets of the property in order to have a good idea.
- He/She will be able to guide you properly if these factors are known before taking decision. This will save you time, money, and shocks later.
- Do a deep research of the property market. One should be familiar with property rate trends, locations and comparative property values therein.
- Get a clear idea of the use you’ll put the property to whether it is a house or an investment. This will have a direct impact on the location and type of property you’ll be buying.
- Have your lifestyle and everyday routine in mind if you are buying residential property for personal use. A community near a good school might be more useful to you than owning property in a remote suburb. On the other hand, having residential property within easy reach of local markets is desirable if you are planning to rent it out.
- If you are buying property for investment purposes instead of personal use, explore the potential returns out and out. Internet is a good reference source for getting hold of property market trends.
- If you are financing your property, take help from a financial advisor at the outset. Having a pre-approved mortgage is good. Also be prepared to pay at least 10 percent of the price as down payment in Dubai.
- Always keep in mind the amount of money that will add up in the cost as property agent fee, mortgage application charges, transfer charges, registration fee and maintenance fee.
- Before signing the property papers, check the actual property thoroughly.
- If you are purchasing property off-plan, carefully consider all the details your consultant has acquired.
- Before signing the property contract, go through the terms and conditions thoroughly.
- Be prepared in advance with all the documents you’ll need.
- Confirm the date you’ll be moving into your new property.
