Knowledgeable people are in no hurry to buy real estate after looking at a couple of offers and objects. Investors always study in detail all the features of the project, the legal side of the issue and details, no matter how small they seem at first glance. There are nuances everywhere that should be taken into consideration by buyer to be able to avoid most mistakes and unpleasant situations. This is exactly what we will tell you in our article today.
Tips for buying real estate:
- Compliance with the investor’s rights. The control and observance of the investor’s rights is usually handled by a real estate agency. Brokers take care of all legal documents, deal with the execution of the transaction, take into account your wishes, send documents for various checks and send you detailed, transparent information about the object. Contacting the agency is guaranteed to minimize unfair actions on the part of the developer or seller.
- Responsibilities of the investor. When buying a property or renting it out, an investor needs to know and fulfill his responsibilities: the maintenance costs of the building and the surrounding area. Most often, such payments range from $ 20 to $ 80 per square meter.
- Market situation. Before buying, it is recommended to study the market in detail: price growth or decline, terms of purchase, various commissions, the right time to buy. The main thing to remember is that a sharp jump may follow a decrease in prices. Competent and experienced buyers specifically monitor such moments in order to earn as much as possible on the transaction.
- Type of property. The real estate market in Dubai is huge and diverse. For a profitable purchase of an object, choose a specific type of housing: apartments, villas, townhouses. Decide on your desires, because the price of the object depends on them. The view from the window, the number of rooms, the total square footage, restaurants and bars in the immediate vicinity, all this primarily affects the price of the purchased property.
- District. Foreigners can buy real estate in the “freehold” zones. These zones are included in the most popular areas: Dubai Marina, The Palm Jumeirah, Emirates Living, Jumeirah Lakes Towers, Downtown Dubai. When choosing a property, you need to take into account whether you want to live in the very center of the city or the bay and beaches are closer to you, whether you want to live among tourists or, vice versa, you want privacy and tranquility.