Important Tips | Buying Property in Dubai
Have you decided to buy a Property in Dubai? Have you got your mortgage approved and also the financial expectations in place? Do you know about property laws in the city? Are you ready to begin your property hunt in the city? If yes, then Greenhouse Real Estate has outlined some tips to bear in mind before buying a Property in Dubai.
Mortgages are huge commitments
Mortgages are lengthy, ongoing payments, which can sometimes outbalance your income. It is important to make sure that you are only buying within your means and are financially strong enough before agreeing to buy a Property in Dubai. Just because your bank approves you a mortgage, does not mean you are ready for one, so keep this in mind.
Do your homework
It’s important to make sure you know the whole buying process before starting the property hunt. Having everything in order and understood from the start will save you lots of time and effort in the long term. You also don’t want to lose out on your dream Property in Dubai due to something in the process being missed, such as important paperwork.
Research the whole of Dubai before you buy
Even though you feel like a certain community or area may be the best place for you, but you should definitely research all options and all areas before signing for a Property in Dubai. There may be places or buildings out there that are perfect for you; you’re just not familiar with them yet!
Get the right agent
Location is the key! It is usually the first cry on buyers’ lips, but if you are new to the city or the buying game, finding a reputable estate agent in Dubai is actually priority number one. Your Real estate agent is going to be your eyes and ears for the duration of your property search, they will hear all your needs and expectations and search for the best options available according to your needs and the buying process will be smooth and easy.
“Choose your agent carefully,” advises Pooja Shah, Executive Director, Greenhouse Real Estate. “Make sure your agent is RERA-registered, competent and most importantly looks after your interest not theirs.”
Ask about the fees
If you are buying in a building or community, the community fees need to be considered before purchasing the Property in Dubai. Ask about the fees, how much the community fees are, what they cover and how frequently they need to be paid, monthly or yearly. Also find out what happens if other residents in the building fall short in their payments; you don’t want to find out down the line that you are responsible for this.
Don’t do anything without legal advice
Investing in legal advice is important when buying a Property in Dubai, even if you’re a professional. In the UAE, Laws and regulations change frequently and so you need to work with someone who has inside information and expert knowledge about the Dubai real estate industry.
RERA is your friend!
Last and most important thing! Don’t do anything without checking RERA regulations, before buying Property in Dubai always make sure that your real estate agent has RERA registration. If they are not registered with RERA, they are not legally allowed to trade, which could cost you everything in the end.
Looking for Property in Dubai?
Greenhouse Real Estate is a premier firm in Dubai, expertly dealing sale and purchase of all kind of properties in Dubai. We are a reputable real estate firm, verified and registered by RERA. Our senior property consultants are here to facilitate you in your property search. Call now for more information!