If you are planning to buy your dream house or if you want to invest in a fabulous house in Dubai for future purposes, then you need to keep in mind that despite the excitement, the whole process will get tiresome soon. There are lots of technicalities that will dampen your spirit several times. You will need to find the right agent, complete all the paperwork, and pay maintenance fees and so on. The list is too long.
But do not let these obstacles deter you from accomplishing your goal. We are providing you with an elaborate guide that will ease your complexities. Let’s have a look:
Selection of the right neighborhood:
You need to choose a neighborhood that has all the amenities you and your family need. You can consider factors such as proximity to educational institutions, workplaces, health care facilities, etc. Think of your lifestyle and then choose accordingly.
Difference between leasehold and freehold:
You need to know the difference between freehold and leasehold. If a house is a freehold, it means the owner has outright ownership of the property. But if it is leasehold, then it means that the property is held by lease, for a period of ten to ninety-nine years. You cannot purchase it directly.
Sometimes a buyer tends to book a property before getting the loan approved from the bank. You should look for a specialized broker who will help you out in all the documentation and secure the mortgage quickly. They will also arrange for the most suitable loan for you.
Knowing the prices:
It is extremely important to have knowledge of the price per sq. feet of the property. Having a clear understanding of the value proposition of the project in which you are interested, is necessary. Do not hesitate in asking clarifications for even minute financial details. For example, feel free to ask if the furniture and fittings are included in the overall price.
Hiring a specialist:
First-time buyers guide for homes in Dubai. You will get a plethora of options when it comes to real estate agencies in Dubai. You need to hire the perfect real estate agent who can take care of the entire buying process.
There will be legal documents that you need to go through carefully. Make sure you go through the terms and conditions, rules and regulations, clauses, etc. carefully.
By now you must have got a clear idea of the dos and don’ts during buying or investing in a house in Dubai. Keep in mind the above-mentioned points and you are good to go. We wish you luck with your new venture.
And this article First-time buyers guide for homes in Dubai must have helped you in solving some problems.
Let us know if you have any questions or what do you want to know next time