Dubai is one of the safest and best countries in the world. As we have seen there has been a great evaluation of Dubai’s standards over the last 20 years. There are many attractions for people from all over the world. It is a center of man-made projects considered wonders on earth. The world’s largest building, artificial island, man-made marine, dancing fountain, gigantic shopping malls, and many more things engage people to move to Dubai.
Dubai is steadily moving toward the world’s most attractive destination. Better economic conditions, luxurious living standards, profitable business opportunities, and a fair legal process are the reasons forcing people to think about moving to Dubai. The increase in population not only residents but non-residents in Dubai strengthens Dubai to enhance its living opportunities and that’s making Dubai a real estate business hub.
Generally, Buying a property is a crucial and complicated procedure, but in Dubai, it has become a straightforward process. Before purchasing a real estate property in Dubai, there are some important factors to consider whether you are purchasing a property for the first time or you are a seasonal buyer. In this blog, we have tried to cover the most important things to remember before purchasing real estate property in Dubai and it will be helpful for you to make an informed decision about your property.
Top Listed Elements To Consider Before Buying Property
Scroll down to find the key elements that are important before purchasing a property in Dubai
Establish Your Budget
Before purchasing a property in Dubai, the most important and key element to consider is your budget. The decision to live in Dubai may be costly as compared to other regions but the quality and standards of living in also remarkable and unmatched so the cost factor can be overcome.
Make sure that you have enough amount in your hand to make your living dream in Dubai true and you do not have to face any trouble regarding budget, income, or your pocket size. First, just establish your budget according to your needs and expectations, and then go for the second step.
After establishing your budget, define the property type you need in Dubai. Dubai is offering various types of properties like studios, flats, villas, homes, penthouses, and townhouses. From all these genres, identify yours as per your needs.
If you want to live in Dubai with all your family members then you need some private and secure property type i.e. villas or if you want to live in Dubai for a job then maybe you need a mini apartment or flat that is enough for a solo person. Identifying the property type that meets your expectations is also a very important element.
Location Of The Property
The location of the property is as important as the property itself. You have to consider location as a prime factor if you want to buy a home and have an interest in living there with your family. Explore the location of the home you have listed down to buy.
Amenities around your home like schools, hospitals, medical centers, pharmacies, grocery stores, banking disputes, transportation, recreational parks for your kids, and easy access to shopping malls and restaurants are the necessities of the standard living style. Go through deep research and make sure that your desired home’s location has easy accessibility to all the facilities of a quality lifestyle.
To deal with property matters, especially in secondary locations, you need an expert opinion, honest advice, and proper guidance from an experienced qualified property developer. A successful highly experienced agent has the ability to turn your dream into reality and a fake agent can make your home journey a nightmare for you through fraudulent and illegal activities. Keep an eye on the reputation of developers in the market before hiring them.
There are many successful developers in Dubai and Tottalyhomes Real Estate is one of these successful and renowned developers in Dubai. The property advisors of Totallyhome delivers remarkable services and are more expert in the real estate property business in Dubai.
Freehold And Non-Freehold Property
When you make a decision to buy property in Dubai, you must be familiar with the concept of freehold and non-freehold properties in Dubai and then decide whether you need a freehold property or non-freehold property.
In freehold property, you have complete ownership of the property. You are not bound to make a decision on the property. As an owner you can resale it, rent it out, and stay there for an unlimited duration.
In non-freehold property, you can own the property for some specific time duration, a maximum of 99 years after that fixed time the property will be in the ownership of the landlord. There are some restrictions applied by the landlord of the property and you are bound to follow them.
For buying property in Dubai, it is important to have a knowledge of the difference in both types of properties.
Knowledge About Legal Laws
Another important element in purchasing real estate property in Dubai is to have knowledge about the legal process in Dubai. Not every layman is familiar with the legal laws. Each region follows a different legal process and you are bound to follow this process otherwise you have to face the music.
There are different rules and regulations for inhabitants or residents of Dubai and these rules and obligations are different from the rules for foreigners or expatriates. To be familiar with the legal process you need proper guidance and professional real estate agents of Totally Home Real Estate are unmatchable sources of information and guidelines.
As already mentioned purchasing property in Dubai is a straightforward process but is not an effortless or plain process that you can handle alone especially when you are a non-resident of Dubai. To deal with this process successfully you need to hire or work with an experienced real estate developer like Totallyhome who helps you to navigate each step from budget, price, and location to the identifying property type and legal advice with more confidence.