Imagine you are sitting on the edge of a beautifully furnished townhouse in the wonderful city of Dubai, imagine that you just made this purchase and have just furnished that house to your taste. Imagine if after settling in you discover that there has been a mistake in your paperwork and what you thought was a freehold was a leasehold and the bank payments are due long after the leasehold has expired. This could be you, if you fail to contact the right specialists whilst conducting your real estate transactions and listen to relevant advice.
So I client asked us the other time ‘Help, I want to buy a house in Dubai’ you may wonder why he said, help, but it is because one must be extremely careful in real estate transactions. In order to not to be cheated or to be tricked into not reading the fine print, any person seeking to buy a house in Dubai needs to be properly advised. When I want to buy a new house I am always meticulous in making inquiries and always read the fine print.
Type of house
The first step to take when you decide that you want to buy a new house is to decide the type of house you want to buy. Are you interested in an apartment, a villa or even a townhouse? Are you looking for a leasehold or a freehold? Deciding the type of house you want to buy before embarking on a search, would save you time and energy. You might say ‘I want to buy a town house’ for example and this would be able to narrow down your wants and it would make it easier to find the perfect house for you. If I want to buy a new house, I would first decide on the type of house I want to buy before taking further steps. I love townhouses so most times I want to buy a town house if given a variety of options to choose from.
The next thing to consider is whether the type of house you want at the price you want is available. You must also consider whether a payment plan is available for the house you want which would allow making payment in installments if you want to buy a house in a year rather than make an outright purchase. It is only when the house you want is available that you can take further steps. If I want to buy a new house, I would ensure that the type of house I want which is within my budget is available in order to avoid disappointment.
You would need to engage the services of specialists like real estate agents and lawyers in purchasing the house. I always say that a person knowing that ‘I want to buy a new house’ is one thing but knowing that help is required is another. By getting accredited specialists you would be able to avoid making mistakes that could cost a lot on a monetary loss.
It is always advisable to see the house you want to purchase before you buy it. Even if the property is off plan, you should try to view the site and see a sample of what you are buying so you can know exactly what to expect. When I want to buy a new house I always ensure that I visit the house at least once before the purchase is made.
After viewing the houses you have narrowed down, it is time for you to make a decision. This is the time to consider all the benefits of the various places you have seen and compare them so you can get the best deal. You can involve close family and friends in the decision-making process if you cannot make up your mind.
Review and signing relevant documents
Once you decide on the property you want to buy, it would be time to sign the memorandum of understanding and start processing your title documents. Luckily for you, all this would be handled predominantly by your lawyer.
Choosing to invest in real estate is one of the best choices you can make. It is one of the most secure investments available in the world today. Investing in the Dubai real estate market is even better as you would be able to invest in a fast developing economy with great potential. With the variety of options in terms of the types of housing available, the prices and payment plan it is no wonder that the Dubai real estate market has experienced a lot of growth.
There are also several benefits of buying a house in Dubai:
With all these benefits, who can resist buying a new house in Dubai? Dubai is a beautiful city and anyone who buys a new house in Dubai is likely to be glad that they did. The metropolitan city boasts of hundreds of international stores, great shopping centers, beautiful beaches, and breathe taking architecture.
This article has been able to show you the things you need to consider when you want to buy a house so you no longer need to think ‘Help! I want to buy a house’. This article has also shown you what to do if you want to buy a house in a year and how to make the best choices. Thus, even purchasers who say ‘I want to buy a house in a year’, want to get a mortgage or pay the purchase price a little at a time have the opportunity to own a home in Dubai. This article is not aimed at providing you with any legal or professional advice when buying real estate from Dubai. It is only a guide which points you in the right direction when you are thinking ‘Help! I want to buy a house’.
October 1st, 2017 by SellAnyHome.com team
October 2nd, 2017 by SellAnyHome.com team
October 3rd, 2017 by SellAnyHome.com team