There are a lot of expats that live in Dubai. Many come for work purposes and they eventually spending years in the UAE. It’s usually better to buy a home in Dubai instead of spending a lot of money on renting one. In order to get a home in Dubai, one needs to keep a few things in mind. Here are a few steps to take in getting a home in Dubai.
Step of Getting a Home in Dubai
Getting a home in Dubai can be a challenge, especially if you are new to the entire process. Before starting the home buying process, it is important for a home buyer to know about the home buying process in Dubai and it’s important for them to do research on the home buying process. Here are a few steps to take when find home in UAE.
Step 1: Check Your Bank Balance
It’s important to know how much you can afford before you buy a home in Dubai. Check your credit history before you start off on the getting a home in Dubai. Most first time home buyers end up buying a home that they can’t afford. This leads them to financial instability and crisis. A home is a huge investment, probably the biggest you will make in a lifetime. Hence it is important for a home buyer to first check their affordability before they go on the search of a home.
Step 2: List down Your Requirements
Knowing the requirements is essential before buying any home. Home buyers in Dubai often get confused when they go to check homes out. It’s important to list down the requirements and make a note of what you need and require for your home to have. Also, its important for a home buyer to be ready to make compromises when it comes to buying a home in Dubai. No home is perfect and a home cannot match completely to your requirements.
Step 3: Hire a Professional Real Estate Agent
It’s important to make sure the real estate agent is RERA certified before you go to buy a house. Also, make sure you have interviewed the realtor and given them your requirements. A real estate agent is more of a sales person and you need to keep in mind that the realtor can only guide you and not make decisions for you. That makes it your decision to get a home in Dubai. Real estate agents often charge a commission of 1-2%, hence it’s important for a home buyer to keep the realtors fee in mind.
Step 4: Do Your Research before Getting Home In Dubai
It’s important for a home buyer to do a lot of research before they get villa in Dubai. Research on the type of neighborhood and the price of the home. Most home buyers fail to do their research and end up buying a home that is too expensive. The neighborhood and location play a major part in the value of the property. Hence it’s important to do your research to know if the home would be a good investment or not.
Step 5: Save For Closing Costs
The closing costs can be quite a huge amount, hence it’s important for a home person that wants to buy a house to save for it. Closing costs can amount to about 2-5% of the cost of the home. This includes the 2% commission of the real estate agent. Buying a home is a huge investment, and you need to make sure you know how much you can afford before getting a home in Dubai.