Some people believe that finding an apartment in Dubai is an easy job because of abundant choices. However, it is because of this very reason, the entire process can become overwhelming, particularly for a new entrant.
The launch of new projects in major communities in Dubai is further providing buyers and investors with new opportunities. For example, with the launch of Stella Maris Dubai, a project by Scope Investment, buyers can now secure deals for luxury apartments, penthouses and townhouses in the last waterfront project in Dubai Marina.
Coming back to the apartment hunt struggle, there is a lot to take into account when buying a living space in Dubai. Following these effective tips can help to make the process easy for you:
Set Your Requirements Clear
Before you start hunting for an apartment, it is important to set your requirements absolutely clear. Decide beforehand the number of rooms you want in your living space or other specifications such as if the property should be waterfront or not. Also, make a list of areas where you are interested in buying a home.
Having this information planned in advance will make the process convenient for you.
Pay Important to the Location
In continuation to the previous tip, consider numerous factors when making a list of areas to settle. For example, if you plan to move in with your family, ensure the community is family-friendly. Also, it should have quality educational institutes and health care centres located closely. The availability of grocery stores, shopping malls, parks and recreational centre in the vicinity will be an added bonus.
Also, don’t forget to take into account your workplace’s location when selecting a neighbourhood for your apartment. If you do not want to spend hours travelling every day, it is advised to buy a home that’s easily accessible from your workplace. They don’t necessarily have to be in the same community but if you happen to find one, this would be the best option.
Set a Budget
This is where most people falter. They don’t set a budget. And even if they do, they do it quite unrealistically. You need to study the market before deciding a budget to buy your new home.
It is important to know that the prices of apartments not only vary from area to area but project to project as well. For example, not two apartments of the same size in one community will have the same price. There can be a stark difference among them due to many reasons including, design/infrastructure of the building, amenities available, condition of the apartment etc.
While setting the budget, take into account additional expenses such as DEWA charges, the commission of the agent, etc.
Hire an Agent
A lot of people believe that hiring an agent is a waste of money since they can directly contact the developers and buy an apartment. This, however, is a piece of advice we wouldn’t recommend our readers to follow. Hiring a real estate agent can prove to be helpful in more than one way. Not only can they help you to locate listings that match your interest, but they can also provide you with market-insights and real-time data on property prices. Furthermore, if the need arises, they can also help you with paperwork.
So, if you are trying to venture in the Dubai real estate market, it is recommended to hire the services of a real estate agent or a firm. This decision is going to prove favourable for you in the long run.
Know About Rules and Regulations in Dubai
Before you plan to buy an apartment in Dubai or any other type of residential or commercial property, you must keep yourself abreast with the property buying rules and regulations in Dubai. If you are an ex-pat, you must know that you wouldn’t be able to buy property in every part of the city. There are some localities termed as “freehold areas” where people having other nationalities can buy a property. Therefore, you are going to have limited choices in that regard.
Furthermore, different communities and residential projects may also have their set of rules and regulations that you must adhere to. So, it is important to be aware of them. This will help you to avoid unwanted and unpleasant conflicts in the later stages.
Whether you are looking for waterfront property or a lavish apartment in a high-rise building, these tips can help you to make an informed decision.