In a busy life, you don’t want to get in the hassle of buying a new house without having any information about it. In Dubai, the selling and purchasing of the property are done very frequently, and it is so easy but if you are new to the city, without knowing anything, then we might suggest you stop there. There are many properties in Dubai every year ready for sale just like some new luxury villas for sale in Dubai are ready for you to start living there.
There are a lot of options, but what moves does a buyer need to take to get the right place for the right price in this very common and often competitive market without sleepless nights worrying about whether he/she paid too much or whether the contracts will be honoured and the construction quality is really as expected?
In the following guide, you can explore a few tips that can help you buy a house in Dubai.
IT IS SAME LIKE BUYING THE PROPERTY ANYWHERE ELSE
We would presume that you, the purchaser, had all the regular conferences and meetings and listened to the full range of suggestions on the wisdom of purchasing and not to opt for rent.
We’ll say that buying still seems to offer enough attractions after all this: security, the prospect of medium-to-long-term capital gain, the fulfilled nesting instinct, no longer being dependent on the orders of the landlord and new policies in the rental market.
But first, you’ve got to determine where you want to live, what you can afford, and how big your budget would allow for a home. Apartment or villa? All depends on your situation, are you single or married? Is this likely to improve over the next three to five years at any given time? If you are already married, do you have children depending on you? If yes, then to which school you are planning for them to join?
And the most important thing that was left, How healthy is your job? What are your opportunities for your current work or other roles in your general experience or employment sector?
FROM WHOM TO BUY?
Maybe you don’t have all that many options. If you pick a range of properties from, like, Dubizzle listings, a fair percentage of them will be real estate agency postings.
But if you follow one or both of these pathways to ownership, let’s just take a step back and look at what is involved.
It is like every other direct sale to negotiate to purchase a house directly from the owner, except even larger. The famous motto “caveat emptor” purchaser beware, definitely applies. You can then start negotiating a price, assuming you like what you see.
Once all of this has been achieved, the normal procedure is to sign a Letter of Intent, which sets out in writing what has been agreed by both buyer and seller.
This should include issues such as price, settlement date, whether the sale is subjected to an inspection or surveyor by an engineer or an architect (highly recommended!) and whether the buyer will be able to pay the amount within the agreed date.
If you are lucky if you have the full price of the property you want to make your own. If you don’t, however, then you need to arrange funding, which is usually done through a banking channel.
It goes without saying that if you have completed as much of this portion of the deal in advance, you are in a better position. In other words, before you even start searching, once you decide that you are going to commit to buying a house or apartment in Dubai, contact your finance sources and make plans for the amount you are likely to need.
There are multiple properties in Dubai, it really depends on your budget for how much you are willing to spend on your property. Many people prefer to buy some off-plan properties in Dubai, as they are a little cheaper. If you have a good budget then we will suggest you check out villas for sale in Palm Jumeirah.