Have you already made up your mind to buy property like an apartment in Dubai? Are you wondering, what are some of the important things that you should definitely know before you make that apartment purchase in Dubai? Well, whether Damac Hills dubai apartments or anywhere else; having an idea about what to choose is going to help you decide rightly
Dubai is a great place to be in terms of employment, lifestyle, safety and entertainment. But when it comes to making a huge investment in an apartment, you have to be prudent about everything. This post is going to get you a quick idea about the things you should have in mind before making a decision:.
Understand your buying reasons
Buying off-plan property is going to be different than buying for investment purposes, resale or even to let in Dubai. Staying clear and confident about the reason behind your purchase is going to determine the kind and the location of the property you must look at.
Know your budget
What are your financing options going to be? Consider the complete expense of buying including legal fees. Even deposits, mortgage payments and also maintenance charges aside from the overall value of the property. Once you know your budget, you would not have to search unnecessarily. You can make a bracket of expenses and ensure you look into the options that are in that financial bracket. What is the point if you give a lot of your time and efforts in searching for the right apartment and then you realise that the apartment is beyond your budget. So, be wise there.
The right location of the property
There is a well-known saying that there are only three things that define the cost of a property and such three things are location, location and even location. Now, when it comes to hunting the right location of the property in the realm of Dubai, there are numerous things to be kept in mind.
Which locality is going to suit your best completely relies on your requirements. So, the question that you must be asking yourself is what is your purpose of buying a property like an apartment in Dubai. Once you have a clear answer to such a question, the search will become a lot convenient. The point is if you are working, you should know that your property is closer to your office. What is the point if you have to commute for hours every single day to go to work? What if your kids have school quite far from the apartment? Also, it would also be insane if the property you choose is far away from the market or important places. So, you have to be mindful about all such things.
Check the building age
Dubai is a justly new city and most of the developments at this place are not more than fifteen years old. Since the city is growing quite fast, there is always some or the other new development coming along. Because of huge interest from local and even international investors. Dubai’s off plan property sector has always been somewhat of in demand. People most of the times buy off plan properties in Dubai. Because such developments are somewhat cheaper and even come with fascinating payment plans.
However, it again comes down to somewhat your requirements. In case your need is a ready property or apartment in Dubai. An off plan property is definitely of no use to you. Now just imagine that you wish to buy something that is ready. Then knowing how old the building is can turn out to be very handy.
Also be mindful about the warranty by the developer. Exactly, in the realm of Dubai, the developer is going to be liable for any malfunctioning in your residential unit for up to even one year from the date of completion. The structural harms or damages are also responsibility of developer for an utmost period of ten years from the date of completion. So, the point is if you are buying into a building that is new. You are most probably going to be somewhat covered under this warranty. In case the building is more than ten years old. You as owner, are going to be responsible to perform any kind of repairing work that may be needed within the apartment.
the point is the city is new and hence, there are so many new options in properties. Since the buildings are new, you have to be sure that you get the options that you feel are great for you. For example, if you want the latest security provisions. Then you may want to get an apartment in the most recently built buildings. Of course, they would have the most advanced and latest security provisions.
Not to mention that an older development is not really worthy of investment. Majority of buildings in the realm of Dubai have high standards of construction and even maintenance. So, whichever option you select , you are not really making a bad decision at all. It is something that rests completely on your choices and preferences.
Check the property condition closely
In many countries throughout the world, the seller need to provide an inspection report to the buyer. This is the inspection/ snag report makes it convenient for new owner to simply understand the actual situation of the property.
This however, is not really a common practice in Dubai. In case , as a buyer, you want to have an inspection done. You will have to do it on your own expenditure.. Either you can simply snag the property yourself and simply analyse its condition, or you can hire even a private company to do it for you. Since, it is not really a common practice in Dubai. People don’t really usually do a detailed snagging of the apartment or property they are going to buy.
To sum up, whether Damac Hills dubai apartments for sale or any other options; you make sure that you keep all the discussed things in mind for the perfect purchase.