I Want to Buy a House in Dubai: Best Practices

I Want to Buy a House in Dubai

I Want to Buy a House in Dubai: Best Practices

I Want to Buy a House in Dubai: Have you been considering or playing around with the idea of buying a property in Dubai for a while now? You might have probably discussed things over and over with your friends and family giving you diverse opinions or you have been repeating the question over and over in your mind “I want to buy a house in Dubai, but will that be profitable? Will that be a good idea?”

Let’s put things before you clearly. Several people across the globe go ‘I want to buy a house in Dubai’, and for all the good reasons. Whether for investment purposes or for residential consideration, buying a property in Dubai is pretty good idea at any point of time. Here is why.

Advantages of buying a property in Dubai for Residential purposes:

Buying a house in Dubai for residential purposes or deciding to reside or settle in Dubai can offer several advantages. From great luxury and facilities to being surrounded by panoramic ocean views  and cool restaurants and shopping places, Dubai offer everything.

Luxurious Facilities and standard of living:

Though Dubai is a developing state, it, at most parts, offers the facilities and standard of living and high as most of the developed countries. The standard can be felt at any corner of the city.

World class Infrastructure:

If not convinced, buyers can themselves scroll through the images of infrastructure of Dubai. Total connectivity between various corners of the city, clean and perfectly built roads and bridges and what not- take up any aspect, Dubai is perfect.

Safe place to live in:

UAE’s strict and harsh approach to crimes is well known. And Dubai surely is safest place of them all to live.

Decent weather:

Except for the hot summer, the city offers a decent and pleasant weather to live in. Buyers wouldn’t have to worry about summers as well, since the luxury of the houses won’t let the summer heat in!

Affordable luxury lifestyle:

Not only does the city offer quite good a pool of opportunities if buyers want to buy house in Dubai  for residential purposes, but the luxury of the city can be affordable as well.

Location:

Dubai is pretty much a strategically located city. The city is more or less 3-6 hours flight from most parts of the world.

Advantages of buying a property in Dubai for Investment purposes:

As an investor, there would be numerous benefits of deciding to invest in Dubai. Enlisted below are some of the plus-points if you want to buy a house in Dubai.

Exponential development rate:

One huge plus of investing in Dubai is the unbeatable and unbelievable rate of development. The process of development is an assurance that investors really won’t be incurring much of losses one way or other. In long run, one could reap good profits.

Relatively stable and mature market:

Dubai’s property market is relatively stable and mature in comparison to many other property markets in the world. This shows that your investment is relatively secure in Dubai.

Easy taxation policies:

The taxation policies of Dubai are one of the most liberal and positive for investors form most point of views. Well, there aren’t many countries in the world map that are known to offer heavy tax offs and concessions on rental incomes and capital gains on property sales.

Stable rental incomes:

Pretty much everywhere in Dubai, one can be sure of some constant flow of rental income from the house they want to buy in Dubai. There are huge number of people that fly to live in Dubai on temporary or permanent basis. Thus, there would always be a stream of people willing to take up properties on rent in any corner of the middle-east city.

Affordability:

Whatever the budget one has got, the investor will always have a decent choice to consider in Dubai. The city is full of choices and opportunities.

 

Hopefully, this has given your thoughts some clarity and direction. So, simply, it’s time to stop chanting the lines ‘I want to buy a house in Dubai’ and make it come true. Wait, we know what you are thinking- ‘okay, I am sure I want to buy a house in Dubai, now what?

Let us give you a brief explanation here as well. Here is the breakdown of the process you need to follow once you have decided that you want to buy a house in Dubai:

  • As the first step, buyer should consider estimating the budget. While creating a budget, one must make sure that they include all the fees commission and charges that would be there in the process.
  • Next step is to decide which property the buyer want to buy and contact a reliable and registered real estate agent in that respect, who can fully aid in the process of buying a house in Dubai.
  • Considering that buyer has done the research part and finalised the house that they want to buy Dubai, he or she now need to get in express terms with the land/house owners, carry on the negotiation, find out all the requirements of the owner and see if it all fits the requirements, plan and budget.
  • Once parties have everything decided and agreed, the buyer and the house owner need to sign a memorandum of understanding. MoU do not really hold binding legal effects, it is an important aspect in purchasing a property in Dubai. 10 per cent (around) of the amount is to be paid at the time of signing the Memorandum of Understanding.
  • Post this, buyer and owner need to meet with developer and apply to get an NOC that is No Objection Certificate. A nominal amount is to be paid as fee for NOC.
  • Finally, both parties can meet at Dubai Land Department to complete the transfer formalities and execute transfer deed in favour of the buyer.

Not as complicated as what one would think, right? So want to buy a house in Dubai? Go on!

 

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