10 essential things to know before buying a property in Dubai

If you are planning to buy a property or a villa for sale in Dubai, you must consult the top real estate companies in Dubai to get a good value for money.

Additionally, you must also be well-versed in the properties of the real estate market in Dubai. There are a few things that you need to know before you dip your toes in one of the world’s finest markets for real estate.

Location

The location of the property plays a significant role in defining the price of the property. Factors such as neighborhood, nearby areas, nearby attractions, such as schools, malls, and roads contribute to determining the price of a property.

Master developer

There are some world-famous master developers in Dubai. They are known for their quality work and mega projects. These developers are highly trustworthy and famous for their expert designs and unique perspectives. The benefit of buying from a master developer is that it will be easier to rent out that property- if you decide to do it.

Project developer

One of the specialities in Dubai's real estate is that only one estate developer works on it. Once you have finalized the location, you must look for a project developer. This individual is responsible for the construction and maintenance of the building.

Maintenance company

The maintenance company of property matters significantly. Many times, projects are developed but left unattended. This negligence devalues and depreciates the property’s worth. Considering this, it is important to find a reliable maintenance facility.

Age of the building

The age of the building is directly associated with its depreciation cost. The greater the age, the higher the depreciation cost will be. This is why new buildings are given preference over the old buildings.

Condition of property

The condition of the property contributes to its price. A well maintained and proper property is higher in cost, in comparison to a poorly maintained property. If you are looking to sell, make minor fixes before listing it.

Price evaluation

Make sure to get a price evaluation done from an expert before making a deal. This will protect you from spending excessively on a property.

Financing options

There are numerous financing options available in Dubai. You must consider all the financing options that come with the respective property to select the one that perfectly aligns with your budget.

Title deed transfer

It is essential to check all the legalities before making the final property deal. You must check the deed's date, sign the MOU, visit the trustee and transfer office, and certify the issuance of title deed.

Associated cost

You must keep an eye on certain costs when purchasing a property, such as purchase price, DLD fee, valuation fee, loan processing fee, mortgage registration fee, maintenance fee, property management fee, and home insurance.

These were the 10 most crucial things that you must be aware of when planning to purchase a property in Dubai. You must also make sure to contact the best real estate agencies in Dubai if you want Villa for rent in Dubai or purchase a property.