What are the top buyer mistakes to avoid?
Buying your own home?
We totally know just how wonderful it feels when you’re getting your own slice of paradise to call home. AWhile it does come with significant responsibilities and decision making, it is indeed a pretty sweet thing, especially in the dynamic city of Dubai, where amenities are endless and gorgeous views are here to stay!
Still though, investing your hard-earned money in a property is a monumental decision that requires thorough research and careful consideration, and often there are many home-buying mistakes to steer clear of, ensuring a seamless journey toward your dream property.
So, let us break it all down for you to ensure you are in trusted hands when buying your next home!
Avoid rushing the process!
We know just how hard it is to contain the excitement when you are about to buy your dream from, from scheduling viewing to signing the contract, the prospect of owning your home is exhilarating.
Either way, don’t rush it and think about the long-term aspects, especially if you plan to call the property home for years. Explore nearby properties, amenities, and potential hidden costs. Rushing might lead you to overlook more suitable options and important details that could impact your decision in the long run.
Steer clear of miscalculating associated costs!
Buying a home doesn’t just boil down to saving the money and purchasing the home that fits in that selected budget. You would also need to budget for the associated costs attached to the property.
One of the key mistakes is underestimating the true cost of living and maintenance. So, you want to take the time to estimate the maintenance charges, which can vary based on location. Create a list of potential properties, noting their pros and cons. This way, a deliberate approach allows you to revisit and reassess, empowering you to make well-informed decisions.
Don’t skip out on research
We know how easy it is to skip out on research but when it comes to real estate, you have to be rather vigilant toward it as research is your best friend. Understanding the market, and understanding the structure of the market is exactly what will help you gain more momentum
While checking real estate listings is a starting point, delving deeper into the local market conditions and the history of the property is crucial. Lack of research is a common pitfall. Understand the actual value of the property and its potential for capital appreciation. Leverage tools like our Mortgage Calculator, and DataHub to gain comprehensive insights, to ensure informed decision-making.
Prioritise property inspection
Though this may be seemingly bothersome, property inspection is invaluable!
Skilled inspectors can identify major defects that might not even be apparent, but could hold a great significance in your home’s health such as weak walls, leaky roofs, faulty wiring, or termite infestations. A thorough inspection ensures you are aware of any necessary repairs or improvements.
Or, just phone up our Home Maintenance experts to help you out!
Avoid buying the wrong house
We know how alluring the new, perfect property can be and the effect it can play but it might blind you to its suitability for your lifestyle.
You want to consider the practicality, especially if you have a family, ensure the layout and features align with your needs, the house is flexible for you in terms of space, shall your family grow and is in a suitable community.
Get everything in writing
Verbal promises from landlords or developers can lead to complications post-purchase, as often if things aren’t provided in writing are then void. So, you want to ensure all agreements and promises are documented from your end to avoid misunderstandings. Rely on reputable developers, and familiarise yourself with the legal steps involved in buying property in Dubai.
Hope this helps!
Avoiding these home-buying mistakes can save you considerable hassle in the long run. Take your time, do your due diligence, and enjoy the journey toward securing your dream home in the UAE.
And as always, we’re always here to help!
Until then, check out some of our top listings that buyers are currently looking at!