Whenever you are up to buy a house in Dubai, you come across several options. It can be a well-furnished constructed home, an already-use home, or an opportunity to build it your way. Among all the options, you are free to choose what the best one is. Let’s see a brief guide to buy a house in Dubai.
However, things are not this simple all the time. Other than money in your pocket, you need to work several things out before buying the house. You need to understand the technical aspects of buying a house in Dubai. It is neither too simple nor too complex.
Here we got you a smart and complete start guide for buy a house in Dubai. A resource leads to successful house deals and avoids complications.
Table of Contents
Getting start with essential filtration
The very first step on your way to buy a house is to do the essential filtration. You never want to face issues after selecting a house. It seems discouraging when you almost finalize a property and then find out you are not eligible to buy it as per rules. Alternatively, the property is not ideal for your purchase due to certain conditions. It is always better to think about these things in advance and then proceed with other things.
Identify your purpose
At first, make sure your purpose for buying a house is clear. If it is for residential purposes or personal use, you need to look at different variables. The property’s proximity to market and other utilities like health, entertainment, recreation, education is essential.
Even for commercial purposes like renting it to anyone else or selling in the the future, you need to observe the specific conditions. The property needs to support commercial or investment purposes. You will be able to get a good catch on investment after a certain period.
Identify property type
The next important factor you have to note down while buying property in Dubai is the property Type. The UAE has different regulations for property ownership and transfers. Not all real estate zones are accessible for everyone.
Dubai welcomes people from all over the globe. Some people here are just for tourism while others are earning a livelihood. The people with investments or plans to reside here prefer to buy a house. It calls up for the identification of property type. In Dubai, you can find either a leasehold or freehold property.
A leasehold property is a category that a foreigner can lease for a specific period from its owner but cannot buy it. On the other hand, the freehold property zone lets foreigners buy that property with absolute ownership rights. The holding rule only applies to the foreigners, not to the locals in Dubai or UAE.
Know your status as a buyer
For the determination of property zone or type, you need to know your status. If you are a local in Dubai, you are free to buy any property all over the city. However, if you live here as a foreigner, you need to observe the area limitations. People with work permits or living permission belonging to any other state are also foreigners in Dubai.
Approach real estate agents or agency
Once you are done with the basic filtration and identification of the situation, it is time to proceed with professionals. Now it is your choice to access a real estate agent to an agency. There are numerous options from a local agent to a corporate agency and even an online real estate classified website.
You can access the professional and ask them to show you the property about your possible ownership rights in freehold and leasehold areas of Dubai. It will save you time and gets you quick results on board. Buying your house will become more accessible in the process.
Even if you are searching online, you will be able to use the freehold and leasehold properties filter and go for it.
Verify the property
The agent will surely provide you with some feasible options based on your budget limit and citizen status. Now you will select the property based on its location, pictures, and other features. If you are interested in the house, do not just rely on paper or photographs.
It is the time when you need to stand out and verify the property. The property verification includes:
- Complete paper verification to identify its ownership status
- Check the property zone, whether its freehold or leasehold
- Visit the house yourself and check its conditions from flooring to fixtures and everything
- Visit neighborhood and ask residents about problems or benefits in the area
- Take a note of all the facilities mentioned in the offer against the facilities you can point to the location.
Review the agreement
Suppose you are satisfied with the property verification and consider it is the best opportunity for you. In that case, you should go for a purchase agreement. However, do not forget to review the deal and discuss its conditions with the agent or other party.
In case of any fixtures or maintenance work requirements, feel free to ask the owner to fix this for you before purchase. You can even add more conditions to an agreement if there is a need for that.
Complete registration in time
Once you are done with the purchase agreement, ensure you know everything about fees, charges, and taxes on property purchases. After completing the paperwork, make sure to complete property registration with the authorities.
Buying a house in Dubai is not that difficult or tricky at all. All you need is to beware of the property regulations in Dubai. Be part of the property hunting process and observe everything, and be confident about the property agreement. Eventually, you can get your dream house without any issues or facing problems with the house. Following the guide, you will be able to avoid the potential issues and concerns for sure. It ensures you the safest and fastest procedure to buy a house in Dubai.