Advice For First-Time Dubai Home Buyers !
Dubai's real estate industry is flourishing. According to a recent Reuters report, Dubai real estate sales increased by 60% in the first half of the year, with an 85% increase in the value of the houses sold. The same research states that a record 37,762 units were sold between January and July, accounting for close to 89 billion dirhams ($24.23 billion) in residential real estate market transactions.
Dubai is a fast-expanding city that is undergoing unparalleled urban sprawl. By comparing Dubai to other cities and their different property values, it is easy to see that location is the single biggest influence on capital appreciation. It is preferable to buy the worst property in the best location rather than the best property in the worst area, according to an ancient piece of real estate advice.
Thanks to technological advances, you may now schedule a showing before your visit, which should be your first move before seeing your potential new home. You can receive a complete perspective of the location, area, and property floor plan through a 360-degree tour, video tour, or interactive floor plan. From there, you can decide whether it's worthwhile to view.
Find out the whole cost of the acquisition, including fees and the minimum down payment, before you start looking at properties. It is advisable to gain a thorough grasp of the entire procedure and timetable, as well as what will be required and when, as the UAE may operate differently from your home nation. Then, before going out to view, make sure to obtain a pre-approval. You don't want to fall in love with your potential first house just to learn that you can't afford it. Additionally, given how quickly the market is changing, you must be prepared to make an offer as soon as you find your ideal house. You can do this if you have a permit in place.
Right away, make a list of your requirements and preferences. You can identify the topics that cannot be compromised and the ones where you have greater flexibility in this way. A real estate professional can take over your search to help you find the rest of the way and your dream property once you have a broad notion of the areas that suit your preferences.