Purchasing a home may be a difficult process. It’s a big deal since it requires a substantial commitment of money. If you’re looking to purchase a home in Dubai, Luxhabitat has put together some helpful ideas and recommendations.
HOUSE OR INVESTMENT??
Prior to purchasing a home, one must decide if it is for personal use or for investment. It’s important to keep in mind that a home that’s going to be leased out the most of the time is going to have the maximum return on investment. Apartments with only one or two bedrooms tend to sell for more money than those with three or more bedrooms or enormous villas. The sort of neighbourhood, the people that live there, the amenities, the closeness to work and public transportation should all be carefully considered if the goal is to remain. Parents with children may choose the peace and quiet of Arabian Ranches and Meadows, while young couples without children may prefer the vibrancy of Marina and Downtown Dubai, which offer nightclubs and other forms of entertainment nearby. If you are looking for Apartments for sale in The Residences, please visit our website.
Is it better to go off-plan or go after the second-tier market?
When purchasing a home, one of the most important factors to consider is whether it is an off-plan or a resale. Off-plan properties are still under construction and must be purchased directly from the developer, whilst secondary market properties are resold by an owner or an agency. Quality, on-time delivery, and previous projects are all factors to consider when acquiring an off-plan house from a reputable developer. One must visit display houses in order to have an idea of what one may anticipate from the property being purchased from a developer while it is still under construction. For real estate purchases, the Dubai Land Department-registered property is the best option.
FINANCING
The buyer, seller, or agent may all save time by getting a pre-approval from the bank before making an offer on the property. Pre-approval documents required by expats include a copy of their passport with visa page, an Emirates ID photocopy, proof of address (such as utility bills), proof of regular income (such as bank account statements for the previous three to six months), and a no-objection certificate (NOC) from the developer. Cash purchasers, on the other hand, should make sure that they have enough money in their bank accounts to prevent any hassles from the transaction.
