Why and how to invest in property? Pointers that new buyers often overlook


We live in a time where availability and access to all information regarding your purchase of property, land and the like is so readily available, it might be difficult for you to understand what information to build your thoughts over. Often times, people struggle with making a decision that tends to result in distress, unsetting behavior and hence resulting in bad decisions.

UAE has always been a place of profit and large returns for a lot of investors on a global platform. As of July this year, the Dubai Land Department brought forth the insight that total investment in the area of property purchase reached an estimated AED57 Billion from 149 nationalities – 26,000 investors to be precise.

To help you make your first purchase, below are a couple of factors that can help you in choosing the right property for you:

Are you financially sane to buy?

You may have cash at hand or have already taken up a loan to pursue your first commercial purchase, but do not make the mistake of putting all your eggs in one basket. Make sure you have all the fees and processing payments ready apart from the property purchase to pay off to documentation fees, mortgage payment, agency commission, bank processing fees, NOC charges, and the like.

Location

As clichéd as it may sound, the location of your property has a lot to do with the future earnings and profits you will reap out of it. Keep an eye for new projects, price, and payment plans and gauge them in line with your budget.

Developer Scrutiny and Investigation

Possibly the most important aspect of your purchase should involve evaluating the buyer value and worth in terms of property. Your owner’s credibility and their profile registration must be secured and available with the Dubai Land Department (DLD) and that they should possess standard rights of sale.

Move or Off-Plan: What to Pick?

Move property or off-plan can easily be weighed, depending on your budget. With the off-plan property, they come across as relatively cheap and affordable, with less processing fees. You can take up these properties now and then sell it off at a premium in the secondary market. However, these take longer to deliver and exist solely on paper. On the other hand, move property is a much faster and quicker option that can be handed to you right away. However, the processing fee is much higher.


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