It can be challenging or nerve-wracking for buyers or first-time buyers to purchase a house; where to buy it, how much to pay, and which bank to use. Before finalizing the purchase of your new house in Dubai, there are several things to keep in mind. Here are five steps to get you started:
1. Choose the area of your future home.
How do you choose the neighbourhood that’s right for you? Well, you should start by doing some research. Check out the neighbourhood guides on property portals and the neighbourhood website. This helps you determine which neighbourhood suits your wants and desires the best. Your daily journey to work, school, the hospital, and other important Dubai attractions should be considered. Everyday traffic jams that last two hours are unpleasant for everyone.
It’s always a good idea to consider what each neighbourhood has to offer in terms of upkeep, security, safety, shopping, education, pools, and parks because community facilities and amenities are a significant plus.
2. How do you plan to budget for property buying?
Do you intend to make a cash payment? alternative financial options? It’s a good idea to start by examining the current interest rates and which bank has the greatest rates for both options. Other factors to consider include the associated expenditures of purchasing the home and which bank permits you to have the best LTV (Loan-to-value).
Choosing the appropriate bank is essential when purchasing a home. If anything, it ensures a successful sale.
3. When are you expecting to relocate?
The former occupants would need some time to leave some properties because they are currently rented out or owned by someone else. Depending on the type of property you want to acquire, the move-out process often takes up to six to ten weeks.
While the procedure might certainly be expedited, it is still crucial to set a deadline and estimate the additional time and money required to keep your existing rent in effect.
4. How would you pay for the house?
Will it be made in your name? or the name of your partner? Do you have all your paperwork organised? Have you updated your address? Your Emirates ID? You should have these documents in hand before starting your travel. Even though it could seem like a lot, don’t worry— our agents at Silver Oak properties can help you.
5. Who should be your agent?
This brings us to our final piece of advice – choosing the best agent. The agent guides you through the entire process of moving into your new home, from viewing properties to selecting communities.
Our expert agents at Silver Oak Properties are available to help you at every stage of the process. We’ll relieve you of the worry by taking it off your shoulders and advising you on every expense related to purchasing real estate.