With the real estate sector growing in Dubai, homes are significantly more affordable, and the property’s returns are far superior to European cities around the world. In addition, a decrease of 5 to 8% is expected this year. Thus, appreciation of the value of property is the biggest benefit of investing in real estate. Many investors buy second homes for investment purposes since capital gains are substantial and there are many advantages, like the right to citizenship for foreign investors, more favorable visa policies, etc. Dubai offers a wealth of advantages. If you intend to invest in the real estate sector like villas for sale in Dubai, there is no better place than Dubai.
Seven Important Factors to Consider You Should Consider while Buying the Villas in Dubai
1. Amenities and facilities
Facilities play an important factor in the selection of a properties as they are a factor in the satisfaction of residents. It is important to consider the location of the villa, as it will affect the price and the amenities available. Look for a location that is convenient for work, schools, and other daily necessities. Fitness facilities, wellness centers such as swimming pools, recreation spaces for adults and kids alike, daycare facilities, etc. These are just a few of the amenities that are growing in popular in real estate. Check to see if most of these facilities are in the area you are looking to buy.
2. Size and layout
Consider the size and layout of the villa to ensure that it meets your needs. Think about the number of bedrooms and bathrooms, as well as the overall layout and flow of the space.
Features and amenities: Look for villas with features and amenities that suit your lifestyle, such as a pool, garden, or private garage.
3. Legal considerations
Make sure to research the legal considerations of buying a villa in Dubai, such as obtaining a mortgage and obtaining the necessary permits and approvals. It is also important to ensure that the property is free of any liens or encumbrances.
4. Home inspection
Consider hiring a professional home inspector to evaluate the condition of the villa before you buy. This can help identify any potential issues that may need to be addressed.
5. Property type
The city of Dubai There are 2 kinds that are legal owners: Leasehold and Freehold properties.
A leasehold property implies that the purchaser is entitled to the usufruct rights in the property and not the land for more than 99 years and renewable upon expiration of the period. In contrast to freehold ownership, leasehold gives more options in terms of cost and, specifically, the size of the property.
6. Credentials and reputation of the developer
There’s a villa available that is available for sale in Dubai and you’re planning to purchase it? The first step is verifying the reputation of the developer. A reputable developer should be registered with an appropriate regulatory body. It is always better to purchase from a reputable builder with a solid track record of delivery, particularly for projects in the process of construction.
7. Future growth potential
Consider the potential for future growth in the area where the villa is located. This can help you make a more informed decision about the long-term value of the property.
There are four legally obligatory actions to be taken prior to becoming freehold property owners
Pre-sale contract: This contract to the vendor is the initial step prior to signing the final contract for sales. It lets you negotiate, determine the conditions of sale, the payment methods. etc.
Memorandum of Understanding: After both you and your seller have agreed to the conditions of the agreement, you must confirm the MOU or sale contract, also known as Form F which can be downloaded on the Dubai Land Department website and completed in the presence of the purchaser and seller before an official in the Registration Trustee office.
Non-Objection Certificate: Request a NOC to transfer ownership of the property, usually given by the developer for an amount after confirming that there aren’t any outstanding charges for service for the property.
Transfer of property: You must provide the Dubai Land Department with the below documents for the transfer of property to be effective:
Final Thought
Fam Properties is committed to providing our clients with factual, unbiased information. Fam Properties has a list of villas for sale in Palm Jumeirah.
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