With restrictions around the globe beginning to lift, the property market in Dubai is on the rise, there has never been a better time to start thinking about buying a property in Dubai.
So, to help new buyers, we’ve put together a small guide of everything you need to know to ensure that you get the best value for money on your purchase.
- Familiarise yourself with the process of buying a property in Dubai.
Like every nation, Dubai has a unique property purchasing process, so it’s a good idea to work with a reputable, licensed agent that can guide you through the process to ensure that you don’t end up overspending.
- Determine whether your property will be for personal use or investment.
You probably already know what type of property you’re looking to purchase, but it helps to be specific as it will help you choose the type of property and area you are looking to purchase in.
- Look at different areas.
Like purchasing a house in your city or anywhere globally, you need to ensure that your location matches your needs. So, take local amenities and potentially rising investment areas into consideration when looking at buying a property in Dubai.
- Think about your ROI.
Whether you’re looking for an investment property or somewhere to live, it’s essential to look at how you can make a profit when you sell.If you’re unsure about where best to purchase, get in touch, and we’ll help you find a property that can see you generate a healthy ROI.
- Look at up-keep and maintenance costs.
Living in Dubai can present you with some unique challenges that you might not be familiar with. For example, the cost and upkeep of your property throughout the year.In addition, consider the price of other utilities such as water, gas and electricity so you can get an accurate estimate of your monthly outgoings.
- Do some research on the developer.
Just because Dubai’s property market is growing exponentially doesn’t mean that every developer is trustworthy.
So, if you’re looking at purchasing a new build, do some due diligence into the developer’s track record to ensure that you don’t encounter problems later down the line.
- Calculate fees and expenses
If you’ve ever purchased a home before, you’ll know that there can be costs that arise that you weren’t expecting, such as mortgage fees, transfer fees, charges to register the property with the land department, and agents’ commission. To avoid last-minute surprises, speak to an agent familiar with the purchase process.We hope this guide helps, and if you need some additional advice on purchasing property in Dubai, please don’t hesitate to get in touch, and we’d be happy to help.We’re an industry-leading property marketing provider, and we use state of the art property viewing technology so that you can find your next property from the comfort of your own home.