The factors to consider before buying a property in Dubai
News 23 Nov 21, 2:30 pm
Be it Dubai or any other major real estate destination, it is important for the investors/home buyers to gather a deep insight on the place. Only by establishing a familiarity with the particular destination, the homebuyers can choose the property of their liking that too at the budget of their choice.
Reputed real estate consultants play a pivotal role in driving the homebuyers/investors towards the property of their dreams. The knowledge of Dubai property consultants on the constantly fluctuating real estate market of the place will help you make a smart decision.
But the following are a few basic factors that you ought to consider before making the all-important decision to buy a property in Dubai
The choice is yours!
Homebuyers have the full freedom to choose between ready to buy and off-plan properties. Off-plan properties refer to those properties that are still under construction. These generally make for a great investment option as the value of the properties are likely to increase once the construction is complete. But the buyers should ensure that the date of delivery does not exceed the deadline.
Define your objective
Before you make the decision to buy an apartment in Dubai, you must decide whether you are considering it as an investment option or as a residential destination. If investment is your objective, the approach suitable for you should be entirely different from a person planning to own a home. Off-plan properties could prove to be a beneficial choice for an investor but not for an owner. Hence before buying an apartment you must sort out the confusions and arrive at a decision.
Go after sought-after locations
It is a factor of immense significance. If the property is located within a highly sought-after location, it is likely to yield high returns for investors. So investors should look for properties that are nestled at an extremely accessible location.
Location is of prime importance when you buy an apartment in Dubai for your family too. You have to zero in on properties that are nestled close to the workplace. It will help you reduce the time spent on daily commute.
The size matters
The type of property should be selected after a deep analysis. As it is extremely important from the point of view of the investor as well as the homebuyer.
Studios and small apartments make for better investment choices compared to large apartments or villas. As those are far more easier to rent and sell in Dubai
If your family comprises of a large number of members, townhouses or villas with many bedrooms would be a good choice for you as it won’t only provide the space you want, but also the privacy you need.
Don’t burn a hole in your pocket
You must clearly assess your current financial condition with precision before making the all-important decision. Ensure that you can well afford the property that you intend to purchase.
Before arriving at a decision to make a purchase an apartment in Dubai, find the maximum amount you can avail as a home loan. This will help you zero in on properties that are well within your financial reach.
Besides these aforementioned factors there are many other factors that should be considered before making your all-important decision. Stop making decisions in haste, ponder over all the factors and arrive at a smart decision.