International property market badly suffered in 2008 due to global economic recession. Later it regained its momentum and today real estate has become a leading investment sector that offers not only profitable investment opportunities but also gives good choices for home seekers. Among Middle Eastern countries, Dubai has become a most favoured investment spot for overseas investors across the world. When it comes to purchasing a property in this country, evidently there are no such differences, except for few specific legislations, transfer fee, and taxes. Most of the things are same like anywhere in the world. The process involves coordinating with professional real estate agents and contract signing to finalise the deal. Despite appearing simple, purchasing a home can become daunting any time; when buyers neglect few important things to consider like location, budget, and type of property. It has been observed that purchasers, who don’t follow the same, usually get involved to focus on what they should not do. Even, if you are working with qualified professional, house hunting become complex. The best way to avoid such situation is to simply avoid few mistakes while searching Dubai property for sale.
Here I am briefly describing few basic things every potential buyer must avoid to protect complexities while searching and buying homes for sale in Dubai to enjoy community living but before starting a word of thanks to Banke’s downtown apartments for sale department for sharing useful information with us.
Avoid asking multiple showing
Having been emerged from the USA, attending an open house event has become a common practice among home buyers. Individuals attend these events to meet owners. Real estate agents generally arrange such viewings to meet prospective buyers. Later they arrange a private viewing with most serious candidates to further negotiate. However, it’s normal and expected as long as the individual is seriously interested to purchase that housing unit. It becomes frustrating when a person keeps on asking for multiple showing without making a single offer. This activity not only destroys your image after pretending you as a non-serious buyer who never makes an offer but also wastes your time. Carefully observe the house during the event and identify, whether it has all the lifestyle essentials you can’t live without. Analyse your personal interest about the location, do you always dream of this place? Try to finalise the deal in maximum two visits. If the place fails to inspire you initially, don’t waste your time on it.
Don’t change your mind again and again
So you like the location a lot, but the property itself is not good and fails to encourage you to proceed further to purchase. Being a buyer, you have the authority to change your mind. Unnecessary delay in making a decision can also harm you if your intention is to just wait for a better option. If you already have a couple of good option in your hand, the delay will only hurt you. Try to be focused and keep on observing market conditions while making final offers. You have to be very sure about your own intentions before starting your search for homes.
Never make unrealistic offer
Don’t make unrealistic offers just to bargain over prices. Make rough price estimation for the house you are going to buy, this will enable you to identify whether a unit is deserved to be expensive or not. Don’t fool yourself after picking a unit whose owner agreed to sell it at lower prices. It doesn’t always benefit buyers. You never guess the resale value of such units. Be respectful, while making offers to the owners to avoid making a wrong choice.
Never expect seller make any renovation
Generally, sellers and homeowners consider renovating their place before listing them to sell. Once they started viewing their place to interested individuals, they usually stop investing money on repair and maintenance. Keep this fact in your mind, especially, if you are going to purchase an old property unit. Hire a third party to inspect the whole property carefully to see is it actually worth buying or not.
Don’t ignore additional charges
When purchasing a home, inexperienced buyers ignore adding charges like monthly bills and utility service charges in property price. To avoid facing penalties don’t forget to check the monthly outlay of property. This is necessary to protect you from facing a shock soon after signing the title deed. If you ignore, it will disturb your budget.
Whether being an investor or a conventional buyer, avoid these simple mistakes while searching to buy family homes in residential communities in Dubai.