10 POINTS TO CONSIDER WHEN PURCHASING REAL ESTATE IN DUBAI

We've created a guide to get you through the process.

1- Agent vs. No-Agent Situation:

Are you confident in your abilities to finish the shopping process on your own? If you have the business knowledge? Can you think you'll be able to manage the negotiations? If the reaction is a resounding NO! Collaborate with a reliable and well-recommended agent. Someone with ample insight and understanding in the local sector, as well as a track record.

2- Timing & Duration:

Whether you're a first-time buyer or an experienced investor, we suggest taking your time to find the best Dubai Investment Real Estate. Before making a decision, speak to your agent about all of your choices.

3- Financial Preparation:

If you're a cash buyer or taking out a mortgage, you'll need to prepare for the down payment and all other additional costs that may be charged until the home deal is done. Aside from that, you must remember all other recurring payments you will have to make over the year.

4- The "Must-Have" List:

One of the most crucial moves is to make a list of the requirements. Are you looking for a rental property or a house of your own? How many bedrooms do you have? Are you looking for a place near the metro and on Shaikh Zayed Road? What is your financial plan? Are you a cash or a mortgage buyer? Until starting the shopping process, make a list of all of these variables.

5- Open Houses:

Open houses are a wonderful place for home buyers to see the right units and get immediate updates from sellers.

6- Investigation and Professional Inspection:

You must hire a professional property inspector to audit the property. The state of electrical power, plumbing, ventilation and heating systems, elevators, and construction services are only a few of the things you can look at.

7- Valuation:

Most homeowners and sellers place a high value on their home. As a result, your agent can provide you with sufficient details about the unit's actual price.

8- Commitment:

Go through all of the terms and conditions with the agent, including the negotiation process, down payment, payment package, and so on, to ensure that there are no surprises.

9- Actual ROI vs. Advertised ROI:

Before reading the legal documents and committing to the final move, have your agent clarify the ROI estimate. Ask questions based on credible sources, such as the service fee or the planned rent.

10- Legal/Paperwork:

Beginning May 1, 2014, “all transactions related to the purchasing and selling of Property Developers in Dubai must be registered using normal type property contracts, as per a new regulation being enforced by the Dubai Land Department (DLD),” which includes Form A – contract between seller and broker; Form B – contract between buyer and broker; and Form F – contract between seller and buyer.

We are proud to partner with over 100 experienced property consultants from 25 different nationalities in our Dubai office, enabling us to deliver a genuinely special and personalized level of service to our clients at every step of the way.