Five Effective Tips for Buying Villa in Dubai

It is crucial to understand the market before you purchase from it. That is because an understanding of the market can help in multifaceted ways; for example:

• It helps you negotiate better and know the minimum or maximum benchmark for products or properties as the case may be.
• It protects you from falling into pitfalls that are only noticeable by insiders in the market.
• It ensures value for money, etc.

Therefore, every smart investor must know the crucial indices of the market and how to best utilise it. The downside however is that as an innocent purchaser it could be an ordeal to sieve, download, and understand the myriads of information on the UAE real estate market. If you are in those shoes, kindly read below; five (5) effective tips for buying a villa in Dubai, what to look out for, and how you can best handle a purchase.

Are you considering Villas for sale in Palm Jumeirah? Read this article before you do anything else.

Tip #1 Preferences first

Preferences here mean a combination of facts and conditions/ requirements that you have in mind concerning the property. Before you make any purchase consider the following:

1. Your budget
2. Your reason for buying
3. The preferred location and facilities

These three factors will go a long way to determine what properties would be suitable for your consideration. If you are a family person, then you may have to prioritise access to essential centres such as schools, malls, and the liveliness of the neighbourhood. If you prefer a quiet life then a fenced villa would be appropriate but if you seek to place the apartment for rent then you may prefer a property in the heart of Dubai’s finest and fast-selling areas.

Tip #2 Know Your Developer

Secondly, you have to know your developer. That is particularly important when considering a property still under construction or properties in newly designated locations. Some managers are known for building standard structures whilst some have a reputation for doing the opposite. It forms part of your due diligence to learn about the development manager and their reputation over the years. That will protect you from making a purchase that only has temporary value.

Tip #3 – Know the Maintenance Team 

It is important to consider maintenance if you look forward to purchasing real estate in the UAE. That is because the team will determine the conditions of the property. Some maintenance agencies are more proactive than others, and since many homeowners in the UAE are expatriates it may be difficult to mobilise your neighbours to do the needful in compelling the agency. The bottom line is that you should check out the maintenance history in the area, that of the agency in charge, and how they have performed over the years. It would also be a plus to consider how old the building is; and its general history before sealing the deal.

Tip #4 – Bank Pre-approval is a must

Next, you must obtain a bank pre-approval before you launch to search for the right property. It is not enough to rely on your creditworthiness where you do not have the money in cash. A bank pre-approval smoothens the search and ensures that the deals can be concluded seamlessly. Also, ensure that all incidental costs are considered in your anticipated loan.

Tip #5 – Employ the services of a real estate agency

This tip is vital because although you can do extensive research before buying a villa, a real estate agency is more likely to have the history of properties in the UAE at its fingertips. More so, they can help you with due diligence, proper price evaluation, and the nitty-gritty of the purchase. In essence, you either go fully ready or get someone who is well equipped to help you tie all the loose ends.

A real estate broker may cost you more money, but it increases your chance of a wiser purchase with longer ROI/ property value.

There you have it, succinct but yet crucial tips on buying villas in Dubai. It may not be a comprehensive list but these are guaranteed to save you precious time, money and secure best investment opportunities.