Who wouldn’t want to live in Dubai? It’s a beautiful city with plenty of attractions. And not to forget, the lifestyle it offers is nothing short of exemplary.
When it comes to Dubai properties, the buyers are spoilt for choices. At the same time, they tend to get carried away and make mistakes. Some mistakes are quite common that buyers are often guilty of making when buying a property in Dubai.
Today, we are going to talk about a few of those. Take a look at them:
Not Setting a Budget Limit
Even though it sounds clichéd, this is one of the most important things buyers should be thinking of before making a big decision. The budget depends on the type of property that you are looking for. From studio apartments to townhouses and villas, Dubai has everything. Be practical, think of your expenses, and then set a budget for yourself. Make sure that you take into account both the current and future expenses. Consider the estimated cost of the property as well as the moving cost, DLD registration fees, utility costs, and repairs.
Also, when you set a budget for buying a home, see that you have enough savings after allocating finance. Bad luck can strike any time and you should be prepared financially for it. And this you can only do after deciding the type of property that you want to buy. Only then you would know your spending capacity and how much you can save for additional expenses.
At the time of moving, many expenses arise, and if you are not prepared or plan ahead, you would find yourself in a financial fix. Many a time it happens that buyers end up spending all of their savings on buying the home. And then they are left with no or little savings to pay for the moving costs. There may be things you might have to get fixed; some supplies you have to buy for the home, security deposit, and other miscellaneous expenses. So, you need to set a budget that includes all of the expenses that shall incur throughout the move from the purchase to the actual moving day as well as the initial days after the move.
Not Paying Attention to Location
The location is an extremely important aspect of the home-buying process. Regardless of what you are buying property for, residential needs, or investment purposes, you cannot deny how significant a location is and how much it can impact your living or use of the property.
When it comes to buying a place, you want to live in yourself or with family, try to get a property that is a location near your workplace. Not paying attention to this shall cost you a lot in fuel or traveling costs whether you have your own means of transportation or use public transport. In case of a long commute, you are going to get tired and spend most of your time traveling. Moreover, the property should have grocery stores, banks, healthcare facilities, and educational centers nearby.
If you want to get into real estate investment and plan to buy the property for this purpose, you should look for a property that offers a promising future as far as economic growth is concerned. It wouldn’t be wise to invest in a property that is going to take years in development and get you revenues.
For someone who is buying a home for the first time, it is normal to get excited and be on an all-time high. Especially if you found the property of your dreams that suits your budget and requirements. Sure, you would want to proceed with the move as soon as possible and get done with things fast. At the same time, this is the time you are more prone to make mistakes.
What you should do is that even though you are very pleased with how things are working out; you should be somewhat discreet about it. Quite often, showing your excitement comes off as desperate and the seller might misuse it. So, stay calm and make sure that you don’t rush into things or make any hasty decisions. Or you will miss out on important details. Take your time and be careful. Visit the property multiple times and inspect it thoroughly.
So, no matter what you are looking at home or apartments for sale in Dubai, avoid these common mistakes for a smooth and hassle-free purchase.