Buying a dream Home in Dubai, UAE is a dream goal for a countless number of people from across the globe. But, do you know giving wings to your dream of buying a home in Dubai Property Market in the sky, requires consistent planning, extensive research & trends, and financial planning.
As a first-time homebuyer, you need to be extra cautious and must have a profound knowledge of the Dubai Real Estate market. Looking for the best Home in Dubai requires ample time, consistent efforts, and tireless commitment. Most of the people from all walks of life purchase a house only once in a lifetime, so it’s extremely important that you do it the right way.
If you want to Buy Property in Dubai, you need to make sure that the house should be fairly future-proof in the sense that it should meet the needs of your family in terms of convenience of location, premium amenities, and should reward you with a higher return on investment.
Throwing the light on the complexity of home buying process in Dubai, here are some expert tips for first-time home buyers in Dubai. Here’s a quick guide for the first-time homebuyers in Dubai.
1. Organize Funds to Buy Property in Dubai
Striking a proper balance between your savings and debt is important before making a decision to own your dream Home in Dubai.
Well, the general mindset of most of the people is inclined towards paying the majority of the amount by disposing off all the investments. However, before making a big Investment in Dubai Property Market, you should follow this mantra, that goes something like this, “Never dissolve all your savings.”
In the Dubai Real Estate market, securing the right source of finance is paramount. Mortgages play a pivotal role in acquiring your dream property. Hence, it’s always a better idea to use a mortgage calculator to estimate your monthly mortgage payments before getting your hands-on home loan rate in Dubai.
2. Learn About the Available Benefits of the UAE Government
Dubai’s real estate market is considered a safe haven for investment, all thanks to 0% taxes, investor-friendly policies, and government initiatives. For luring the interest of the investors, the UAE Government has introduced various schemes fostering property ownership for both the citizens and the expats.
Some of the government housing schemes for the Emirati home buyers are Sheikh Zayed Housing Programme and Mohammad Bin Rashid Housing Establishment.
The government housing schemes for the expat home buyers are Golden Investor visa, Golden visa for retirees, and citizenship laws.
Read Also : Golden Visa UAE: Everything you need to know about it!
3. Assess the Reputation of the Developer in the Dubai Property Market
Considering the developer’s reputation is essential before buying the right property in Dubai. Established developers have a proven record of delivering high-quality and luxury projects on time and adhere to industry standards. Conducting a thorough research of the developer’s portfolio, their diverse projects, and client reviews are important before buying a Home in Dubai.
Some of the renowned and established developers in Dubai are EMAAR Properties, SOBHA Realty, DAMAC properties, Danube properties, etc.
4. Explore the Emerging Communities and their Future Resale Value
While developed communities often demand high prices, exploring emerging ones can get your hands on your dream property and allows you to choose from off-plan properties.
The emerging communities in Dubai are undergoing rapid development that further allows you to scroll a wide range off-plan properties that are generally cheaper and guarantee a higher rate of return.
Investing in emerging areas allows you to take advantage of the early-stage appreciation and lock the properties with higher growth potential.
5. Engage with Real Estate Professionals
Navigating the Dubai’s real estate market can be a daunting task, and seeking the right expert guidance from the leading real estate professionals can be invaluable. Experienced real estate professionals can provide you with deep insights into the Dubai Real Estate Market trends, property valuation, home loan rates in Dubai, legal formalities, and various negotiation strategies for stealing the best deals in the Dubai Property Market.
By leveraging their profound knowledge and real estate industry knowledge, home buyers can make well-informed decisions that guarantees manifold returns.
6. Give a Thought to the Amenities
Modern housing has completely transformed the way people think of their homes. Modern-age houses come with top-notch amenities such as gyms, spas, swimming pools, and BBQ area. For example, if you are planning to live with your family in Dubai and have kids, then investing in a property with world-class amenities such as swimming pool, kids play area, a game room can be an ideal investment.
Before selecting the best Home in Dubai, don’t forget to take parking spaces into consideration.
Conclusion
For the first-time home buyers, purchasing a property in Dubai might be a rewarding and profitable decision. But before you Buy Property in Dubai, making the necessary inquiries, working with a leading real estate developer, and making sure all the legal formalities are satisfied holds a great importance.
You will find your dream Home in Dubai if you follow the above tips. This city has turned into a haven for real estate investment and experiencing a higher ROI. Invest in the apartments and villas to reap fruitful benefits.
