Emiratis are a creative bunch, so it’s no surprise that their property dealings are perfectly aligned. Since the city is filled with unbelievable attractions, everyone wants to own some property to put the base of their dream home in a dreamlike city of the entire Middle East.
Purchasing a property in Dubai appears to be daunting at first. Getting all the documentation done, contacting a verified property finder in UAE, and determining the cost is all you need to do beforehand.
Below, we’ve added a few common mistakes that novice homeowners often make before purchasing a property. Without any further due, let’s get to the point.
Getting emotionally attached to a location:
Getting emotionally attached to something that fits your requirements isn’t surprising. It might be the house of your dreams, but considering all the realistic details before signing up for the contract is also mandatory. At first, you need to comply with your budget, and next, you need to anticipate the credibility of the constructors.
Overextending your budget:
If you’ve liked a property wholeheartedly, and your entire troop loves it too, but the hitch comes with the budget. You might feel like covering the additional cost in a year or two. Yet, in reality, it’ll keep draining you in the long haul. You wouldn’t be able to foresee the undesirable consequences, and ultimately, it’ll create a constant wave of financial stress in your life.
There’s no doubt that a virtual tour with one of the trusted real estate agents seems far more convenient than physically visiting a property, especially in the scorching heat of Dubai. So, prepare a queue of factors you’re expecting in your new home, including the location preferences and budget. Most investors utterly rely on agents without adding their requirements, and thus, disappointments await them in the end.
The attraction with discounts:
While there’s no harm in attraction with discounts, they appear acceptable only in the case of clothing and cuisines. On the contrary, if a builder offers you a massive deal, then he might not be able to deliver quality infrastructure and amenities. As a consequence, there’ll be delays in project completion as well. Therefore, reviewing the testimonials of the builder in advance is of pivotal importance.
Avoiding resale properties:
Many investors willfully opt for a resale property. However, one has to consider the potential cost of repairs depending on the age of the building. Maintenance costs are much higher in resale properties, which could occupy a large chunk of your budget. So, if your financial state allows ignoring the worn-out resale home, choose a ready-to-move-in home from a reputed developer.
Ignoring the future possibilities:
With time, the need for home-makers keeps on growing. Where kids will join educational institutions and playgrounds for recreational activities, adults might frequently need medical facilities. Since building a house is a once in a lifetime event, considering the future requirements would be helpful in the long term.
Let’s Wrap it up!
There’s nowhere in the world like home, and it takes years of strategising, savings, and committing to realize the estimated cost for this purpose. Undeniably, it’s one of the most significant decisions, which you’ve to end up with utmost clarity and sensibility. And in this regard, it’s prudent to be well-informed before you buy a property in Dubai. A little research won’t harm you.