More first-time buyers are getting inquiries with Allsopp & Allsopp after the UAE Cabinet introduced new retirement laws and long-term visas. The chief executive officer of the esteemed company is Lewis Allsopp, and here is the guide to follow if he or she is a new investor in Dubai.
Step 1 – Buyers should get their finances in place
Before looking at properties to purchase, the buyer must clearly understand how much capital they intend to use. Save yourself the agony of setting your eyes on that house only to realize you cannot afford it. Or if you get that delightful shock and find out you were wrong, there is more money than you reckoned.
Some savvy advice can go a long way; get an appointment with a mortgage broker and explain to him what costs you expect when buying your first home in Dubai. They will keep you informed on matters related to monthly charges and any other hidden charges related to getting into the Dubai real estate market.
Other charges include transfer fees, agency fees, sales progression fees, mortgage arrangement fees, and mortgage insurance fees.
This means that confidence in the financial situation of your business is very important when starting the process of search. This will, therefore, give you some level of confidence when bargaining with the sellers and dealing with the agents. You can start hunting for your perfect, positive dream home when you’re ready without worrying about what you can or cannot afford, or what is feasible anymore.
Step 2 – A list of essential property features
When you are seated, write down the important features of the property. This could include the number of bedrooms required, the number of km to work or school by car, or one or the other between an apartment or a villa.
Once you have listed the necessities, you should then list the would-like or the additional features of the would-like property. It could be a big garden, an additional bedroom, kitchen, and dining area alone, or a swimming pool.
Listen more and understand that you both need to have a compromise and see what each of you is willing to let go. Don’t be disheartened and don’t eliminate a house during the viewing stage because of one factor; there may be a way around it, and your agent will know.
Step 3 – Area search
However, the fact that the neighborhood in which your house is located is very essential, your chances of making this decision might greatly depend on your available resources. In your case, if your family size means three bedrooms are necessary but all the three-bedroom homes in your desired neighborhood are out of your price range, it may be time to look elsewhere. Some of the affordable Neighborhoods in Dubai include Damac Hills, Mira neighborhood, and Arabella among others.
How About Allsopp and Allsopp’s Opinion I always tell my clients to take a tour of a given area to feel the environment. There is the ability to get in a car and zoom from the community to other places of significance to you; school, work, and the shops.
Step 4 – Find the right agent
Perhaps the most important thing in a new buyer scenario is to ensure that a new buyer finds an agent with whom one can maintain a strictly business but polite relationship. Buying a house for the beginning sounds like a great idea, but you have to ensure that it was a wise decision made. If you are to have a healthy relationship with your agent, you have to be able to trust and communicate with the agent freely.
Indeed, the competent agent is, in my view, priceless. They will also advise and enlighten you on the market of the house you want and the area you desire to purchase from. That is why they can speak about past market trends and forecast the trends for the upcoming years because of their deep knowledge in the field.
Your agent must provide elaborative answers when asked questions do not hesitate to ask your agents to qualify. Discover the time they spend in Dubai and the number of closed transactions with real estate. A competent agent will be more than willing to calm you down and give you this information.
Step 5 – Understand the process
After you have settled on an agent though, it is necessary to find one you can rely on to guide you through the whole process. Part of this is the elaboration of how to tender an offer, how to bargain, what paperwork is required, what the NOC is, appointing transfer meetings and handover.
You must obtain an agent you can trust to walk you through every step of the process after you’ve found one. This includes explaining how to make an offer, how to negotiate, what documentation is needed, what the NOC is, scheduling transfer appointments, and handover.
Welcome to DirectSb, where real estate transactions are effortless. We connect buyers directly with sellers and landlords with tenants, cutting out the middleman for transparency and efficiency. Find your dream property with us. Join us and take full control of your real estate journey today. Its team has been steadily growing in size thanks to its four offices across Dubai: Palm Jumeirah, Jumeirah Golf Estates, Springs Souk Mall, and Business Bay. By placing their agents in certain residential areas within the society, they will be well positioned to offer the clients personal face-to-face discussions of their requirements.