Factors To Consider Before Buying A Villa In Dubai

TYPE OF VILLA

When you are clear with the fact that you need to invest in a villa, now the next step is check its type, freehold or leasehold, and for this, you should know the basic difference so that it is easier for you to take a wise decision.

• Freehold gives you complete ownership whereas in leasehold you are not the complete owner
• Freehold is expensive whereas leasehold is cheaper, so good for those who have a tight budget
• No additional charges in freehold property and in leasehold you have to pay an extra amount
• No need to renew any paper in freehold whereas in leasehold you need to renew it
• The tenure is forever in freehold and lease it is for 30,60 and 99 years

With these basic differences, you can make up your mind whether you want to go for leasehold or freehold?

But it is always suggested to go for freehold property and interestingly in Dubai you can find out heaps of freehold areas such as Business Bay, Discovery Gardens, Down Dubai and DAMAC Hills, so surely finding the right property would be the easiest task.

DEVELOPER’S CREDENTIALS & REPUTATION

This is another vital concern for anyone where the builder’s reputation in the market is very important, so ensure that the builder is reliable enough where its past records, projects, customer review, and work experience are some of the aspects you need to check it out before finalizing your decision.

And you know what? Now checking the credentials and reputation of the builder is too easy, I mean you can check it online or on the builder’s website and the right information about them. Some of the top & trusted builders are EMAAR, Sobha and Danube.

FACILITIES AND AMENITIES

Now, this is from the buyer’s point of view where they should check out all the facilities and amenities so that they know it in advance what all is accessible, later it might hold no logic, so it is better to check the services in advance.

SOME STANDARD AMENITIES ARE:-

• Swimming pool
• Gym
• Spa service
• Playground
• Jogging track

Along with this, it is also suggested to check the social ancillaries where school, hospitals, clinic, restaurants and lots more options are important as it makes living completely easy peasy, so along with inside facilities, you need to check out social infrastructures too.

LEGAL DOCUMENTS & FEES

Documentation is compulsory and mandatory no matter what type of property do buy, but you need to pay attention, so there are 4 legally mandatory steps to follow:-

• PRE-SALE AGREEMENT- This is the first step or the first agreement before signing the sales contract. And permits you to negotiate and the terms of sales and payment.
• MEMORANDUM OF UNDERSTANDING- MOU or the sale contract which is even known as Form F needs to be signed after both the seller and buyer agree on the terms of the agreement. And then both buyer and seller are in front of a witness at the Registration Trustee Office.
• NO OBJECTION CERTIFICATE- The developer issues a no objection certificate against a fee after discovering that there are no outstanding service charges on the property.
• PROPERTY TRANSFER- You have to provide major documents to the DLD such as original identification documents, NOC, the signed contract, and more to ensure safety and security.

YOU HAVE TO PAY

10% security deposit on the property to the registration trustee and the amount is transferred, later on, 4% of the total value to DLD, AED 520 for the title deed, AED 4,200 administration fees to DLD, 2% agent fees and NOC charges AED 500 to AED 5,000, so these are some hidden charges that you should know it in advance.

PRICE APPRECIATION AND CAPITAL GAINS

Now investment is not just about buying a fancy property, you need to evaluate many things for a lucrative investment, and for this, price appreciation and capital gains are the two important aspects you need to watch it.

And interestingly, when you plan for Dubai property when it ensures a maximum 10% ROI that means you need good property appreciation and capital gain too. Surely this depends on the community there are some communities that provide maximum ROI and great rental value.

CONCLUSION

So these are the foremost concerns to be kept in mind so that you meet the true property investment in Dubai and meet your dream villa for a bigger and better lifestyle because a Dubai villa either comes with a waterfront, breathtaking view, golf experience, and lots more.

Now to make your struggle less and easy, Dubai Housing offers you a wide range of villas that are freehold, by a reputed builder, and the best in Dubai, also their 100 percent assistance will make the process of investment pretty comfortable for you. So hope that you meet your type of villa here.

Besides this, for proper planning, and documentation till the last step they help you widely where you have proper support, and this way you meet a secured investment.