Emaar Business Park Building No. 3, First Floor, P.O. Box 125400, Dubai (UAE)

Buying Property in Dubai? BEWARE of these Mistakes in 2023!

Buying property in Dubai, although a blissful experience, is still a big milestone and definitely involves a lot of planning. From budgeting to down payments, and even deciding on the furniture — everything is a part of the package. But as you get involved in the primary tasks of hunting for a property, there are still some big, small, crucial, and suggestive pointers you need to consider.

So if you’re considering purchasing a property sometime in 2023, here are a couple of mistakes you should avoid!

Buying Property in Dubai requires you to pay attention on some pointers

Things to Avoid while Buying Property in Dubai

1. Not Doing your Homework

Before you start looking at homes, it’s important to have a good understanding of your financial situation, including how much you can afford to spend on a home and what type of mortgage will work best for you. You should also research the neighborhood you are considering and look at family-friendly features, school ratings, and local amenities.

2. Not Purchasing from a Trusted Developer

If you’re considering buying a property in Dubai, you must be aware of the off-plan project hype in the city! Every day there is a new off-plan launch, some in prime areas and some in affordable ones. If you’re interested in buying an off-plan property, it is extremely important to purchase from a developer who lives up to its promises and words, delivering precisely what was first presented to you.

3. Not Getting a Home Inspection

When buying a secondary market or a constructed Dubai property, a home inspection is a crucial step as it can help identify any major issues with the property. Be sure to hire a qualified, independent snagging inspector to examine the home before you make an offer thoroughly. This will not only help you secure a well-maintained property but will also keep you free from getting constant repairs.

4. Not Budgeting for Closing Costs

This may not seem necessary to you, but when the time comes, buyers often tend to spend more than their budget. Closing costs, which can include things like appraisals, DLD fees, and title insurance + deeds, can add up quickly. Be sure to budget for these costs and ask your real estate agent for an estimate of what they might be.

5. Not Negotiating

Don’t be afraid to negotiate the price of the home, as well as any closing costs or other fees. It’s also a good idea to negotiate the terms of the contract, such as the length of the inspection period and any contingencies. This will help you secure the best property deal in the market and will also keep you secured in terms of contracts.

6. Not Getting Pre-approved for a Mortgage

Getting pre-approved for a mortgage shows sellers that you are a serious buyer and can help you negotiate a better deal. The pool of available properties widens up once the buyers are sure that you’re interested in purchasing. It also helps you determine how much you can afford to spend on a home, which then automatically makes it easier to filter the options.

7. Not Considering the Long-term

While it’s important to consider your current needs and wants, it’s also important to think about your long-term goals when buying a home. Will the home be suitable for you five or ten years down the road? Truth be told, as the family grows, everyone’s needs change, and it is suggested to figure out the space needed in the future so the money you spend proves its true worth.

8. Not Working with a Property Consultant

A property consultant can help you navigate the home-buying process and offer valuable advice and guidance. They can also help you find homes that meet your criteria and negotiate on your behalf. In simple terms, they straightaway remove half of your worry! For a seamless purchase experience, it is always a wise decision to get a property consultant in Dubai.

In Conclusion: Buying Property in Dubai is Easy!

Just at the end of the day, it should all come down to one point — you should be happy with the decision you made. Your property should be the destination where you find life’s utmost peace, comfort, and the feeling of calling it “yours.” We intend to get you just the same!

Would you like to discuss the further benefits of investing in Dubai?

Hamptons International is an award-winning firm functioning in all major freehold communities in Dubai, offering a wide property portfolio to choose your dream home from. From the best vicinity for your children to a corporate office that’s strategically located to offer the utmost convenience, we boast a huge selection.

To know more, dial 800 HAMPTONS (42678667).

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