Dubai is the largest city and also the capital of the United Arab Emirates. It is also traditionally known as the "City of Gold". Dubai, known for its breathtaking skyline, luxurious lifestyle and booming real estate market, has always been a hotspo...
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A Comprehensive Guide - Avoiding costly mistakes when buying a real estate in Dubai
Dubai is the largest city and also the capital of the United Arab Emirates. It is also traditionally known as the "City of Gold". Dubai, known for its breathtaking skyline, luxurious lifestyle and booming real estate market, has always been a hotspot for real estate investment. If you turn your attention to the real estate sector in Dubai, you will notice that real estate in Dubai is comparatively cheaper than the other country's real estates. Compared to other universal cities in the world, it is also quite affordable to live and work in the emirate. The city's business, tourism, healthcare and real estate sectors are excellent and contribute significantly to the large stream of people every year. Due to the Emirates' policies and the investment opportunities available, the city has become a preferred place to live and work for many individuals, families and investors from all over the globe. For this reason, we have put together a short guide for anyone wanting to buy property in Dubai and continuing to look for real estate in Dubai to invest or live in, to make the buying process as smooth as possible.
However, navigating the dynamic landscape of Dubai's real estate market requires careful planning and good awareness to avoid potential pitfalls. Whether you're a first-time buyer or a seasoned investor, here's a guide on how to avoid mistakes when looking to buy a property in Dubai.
Things to Avoid to Buy Property in Dubai :-
● Purchasing property too Quickly :-
A survey has shown that the majority of foreigners who wish to settle in Dubai buy a property within 1-2 months of their arrival in the emirate. However, it is always recommended to try out life in the city and take your time to search the market thoroughly to get the best result.
● Working with inexperienced real estate brokers:
There are many real estate agents in Dubai who do not have experience in working with foreigners to buy property in Dubai due to the language barrier. We therefore recommend that you contact an agent who already has experience in working with foreigners to ensure a smooth purchase.
● Not checking the background of the property while purchasing :-
Property buyers who do not use a real estate agent don't value background checks when paying, which is not a good thing. When you are ready to buy property in Dubai, it is advisable to hire a real estate agent who can check the history of the property, the status of the property tax and also any taxes related to the property that are paid or not. This should be done before any payment is made to avoid future hassle.
● Financial Planning and Budget to Buy Property In Dubai :-
Before you jump into the market, you should draw up a clear financial plan and a budget. Take into account all costs associated with the purchase, including the property price, registration fees, estate agent commissions, maintenance costs and possible taxes. Always plan a fund for unforeseen expenses. Make sure that your budget is in line with your financial possibilities so that you don't overextend yourself.
● Not explaining the property needs in detail to the brokers :-
To get exactly what you desire, it is very important to discuss in detail your property requirements and budget with your agent. Without any details, it would be difficult for the broker to help you to buy property in Dubai. This is a waste of time. So, when you decide to buy property in Dubai, provide all the details to your agent, so that he/she can shortlist the properties that perfectly match your needs!
Why would you consider Inch Brick to Invest in Dubai ?
As an experienced real estate agency, Inch Brick assures you that an investment in real estate in Dubai can be your best decision in terms of savings and life prospects.
This emirate of the United Arab Emirates has all the essentials and much more to offer that you could ever wish for! From the best tax policies to the best destinations, from studios to mighty townhouses, Dubai has it all!
However, before you invest in real estate in Dubai, it is important to understand the buying procedure of the real estate sector so that you can make your buying experience stress-free, exciting and rewarding at the same time!
