Property buying is easier said than done. There are multiple pitfalls that can make your property purchase a horrible experience. This article presents you with some common tips that help in easy purchase.
Investment in house is not just about acquiring a property or asset, it is much more. Majority of the population carries the desire about buying such property that fits both their specifications and financial ability. Since, this forms a major investment in many people lives, so it should be done with extreme caution.
🔶 Understanding the threat:
Apparently, the aspect of property buy is easy. However, in reality it is something that requires in-depth research and careful examinations. This field is such that involves numerous pitfalls. While some of the pitfalls are easily averted, other can land the buyers in serious trouble. That is why it is essential to follow certain guidance that will help the buyers in staying away from impending problems.
🔶 Dubai as a property hub:
The aspect of pitfalls for property buy is a concern for the real estate market all over the world. However, this article is particularly pointed at the aspects that you should remember while purchasing a house in the real estate hub – Dubai. Over the years, this city has gained extreme prominence and emerged as the hot sport for property deals. This increasing concentration on the real estate market of Dubai is due to its rampant growth in terms of infrastructure and communication. Furthermore, it presents the residents with a high and upscale standard of living.
🔶 The points to remember:
When you are buying property in Dubai, certainly you desire a high returns. Here are some tips that will help you in avoiding those situations that can cause a hindrance in your plan of getting a lucrative return of investment.
🔶 Ignoring the structural survey:
The market of resale houses is as high as the new houses in Dubai. While purchasing such a property, it is essential to have a proper structural survey of the place. Often the buyers tend to ignore this aspect to save some money. However, that initial saving can turn into a huge expense if the house has structural faults. Thus, always check the maintenance report before investing your money in the purchase.
🔶 The peeking charges:
Creating a proper budget is the first step before purchasing any form of property. In general, the charges included in the budget are the price of the property. However, that is an incomplete one that can cause trouble in the near future. In Dubai, the purchases don’t require paying any tax amount and that saves a lot of money. However, there are charges of legal and processing fees that one need to consider. Along with that, buyers often forget to take in consideration the money that one requires to invest in the furnishing or renovation of the house. Moreover, one also needs to keep in mind the charges that come with the Dewa bills.
⚫ Judging the priority:
What is it that forms a buyer’s prior aspect for selection of a house? Most will dwell on the distance of the house form their workplace. However, that is one of the naïve mistakes. Your house buying decision should be on the fruitfulness of the location and not its distance from your workplace. The reason is that one’s place of working may change in the future. However, the huge investment in property cannot come every time you shift from job within Dubai. Thus, it is extremely necessary that you have a thorough survey of the location where you will be purchasing your house.
⚫ Judging the location:
What are the parameters that help you in judging a location? Many buyers have this complain that they cannot understand the aspects that make a location better than the others. Here are some of the aspects that will help you in understanding the efficiency of a location. This certainly will help you with hassle-free purchase of the property.
1. The modes of communication are easily accessible from the place.
2. There should be easy availability of the common facilities of market, medicine, education, etc.
3. The place needs to have consistent water flow.
4. Most importantly, ensure that the place is secure for residing.
Dubai is such a city where each locality has developed in a similar way. Thus, the buyers will not face much problem in these aspects.
🔵 Ownership issues:
Due diligence is a necessary step before purchasing the property. It will help you in authenticating the aspect of ownership. Make sure the property you are purchasing has the necessary papers and the seller has the rightful ownership to make the dealings.
🔵 Choose help cautiously:
To avoid the hardship of finding a property, many takes help of the real estate agents. However, before hiring make sure that the agent has the registered permission to operate in the concerned field. Moreover, the registered agents will help you in selecting such house that doesn’t pose any form of problems for the buyer.