Whether you’re looking to rent or buy apartments for sale in Dubai, you have your work cut out for you. There is a tremendous number of things that can overwhelm you if you’re not good at organizing, trusting and most of all, being patient. The last part is important in the real estate industry because everything takes time and research. You won’t be able to handle the pressure if you’re easy to give in to stress or ups and downs in the market.
So, to help you get started, we’ve compiled a list of tips that can help you find the ideal apartment in the emirate of Dubai:
Think of Where You Want it
Before you start thinking about the kind of structure and amenities, you need to consider where you’re going to live. This is the most crucial characteristic of any property because it has the highest stake in determining the value. Where a property is situated is sometimes more than enough to give a rough idea of how expensive it’s going to be.
The idea is to think about everything that you would want to be near your house. You can cut back on transportation expenses and make sure that all your points of interest are within walking distance. This can help you narrow down residential and commercial areas for your search. If you’re in search of an active and healthy lifestyle incorporating gyms and fitness centres, you can switch to those available in areas that interest you. For example, if you’ve found a place that’s near your workplace and your favourite restaurants and parks, you can switch to a gym nearby.
While relocation demands sacrifice, it doesn’t have to be too much.
Hire an Agent
Real estate agents are key to ensuring that you get a great deal. You can either let an agent keep a minimum amount or let the seller have a complete advantage.
Hiring a real estate agency in Dubai will result in reduced effort while producing effective and efficient results. That is to say, your agents can help you through property researching, background researching, negotiations, post-purchase legal process, etc. What’s more, is that you can rely on them to give you a proper valuation of the property that you’re looking to buy as well.
While it may seem like an additional expense, every experienced person will verify that it’s effective cost-saving in the long term.
Budgeting is Essential
Right off the bat, allot your budget according to your monthly income and make sure that you’re not overspending. Abiding by the following division of your monthly income will help you save your money in Dubai:
- 20-30% Rent
- 20% utilities
- 20% pocket money to eat out, watch a movie, grab a shake, etc.
- Remainder 20-30% should be set aside for savings.
Research the Property
Regardless of where you find a plausible property, try to run as many background checks on it as you can. Have your legal counsel dig up the credit history of the owner and see if there are any pending dues regarding the property. The property should come up absolutely green in the DLD and RERA checklists. Don’t negotiate in a deal that you’re unsure about no matter how long it takes.