Questions To Ask Estate Agents When Viewing Properties In Dubai

The real estate business is the same throughout the world. It doesn’t matter the country you want to invest in; the definition of real estate is the same. When it comes to dealing in real estate around the world, you are looking at undeveloped land or lots, commercial property, or residential property.

Those are basically the three items involved in the real estate business. However, this business is highly regulated as the opportunities for fraud and theft are very high. You have to be careful with whom you work with in different countries as all real estate agents are not honest.

No are property owners. So you have to know what you are looking for and what questions you need to ask before you agree to buy any property.

Buying Property In Dubai

When you are looking to invest in property in Dubai, there are basic questions you need to ask. These questions apply no matter which country you are investing in.

1. Why is the owner selling?

This is a question that the estate agent may not know the answer to as the owner may not have told them. But if there is a problem with the property, the estate agent should tell you about that problem.

2. Have the property values changed in recent years, and if so, were they good or bad changes?

The difference in previous selling prices and the current one can indicate that the current owner made some changes to the property, and its value of it has changed. This question should help you avoid paying an inflated price for the property

3. When will the owner be willing to move?

This question is only relevant if the current owner lives on the property. You want to know when you can move in. If there is a tenant in the property, you will need to be aware of the Dubai rental laws before asking a tenant to leave.

4. What is the neighbourhood like?

If the estate agent knows the area, then they should be able to give you an idea of what living in the area is like. But their answers cannot be taken for gospel truth all the time as neighbourhoods change, estate agents may not know or are hiding neighbourhood characteristics, and so on.

5. Are the neighbours noisy?

This is an important question as you may work at home and need a quiet street to get your work done. Generally, Dubai is a very quiet neighbourhood city, and this should not be a problem.

But noisy neighbours are never any fun as you won’t be able to relax in your own home if they are noisy all the time.

6. What are some reoccurring fees and other costs?

Always an important question as you want some idea of what to expect when utility bills come or if there are fees, for example, any garbage collection and so on.

Planning your budget for the neighbourhood is essential if you want to make your mortgage payments as well as keep your utilities turned on.

7. How long has the property been on the market?

The Dubai real estate market is very competitive right now, so if a house has been on the market for some time, this may be a red flag. There may be a problem with the owner, or buyers are waiting for the current owner to evict their tenants, and so on.

Rental laws are very strict in Dubai, and if you want to buy for an investment, then you need to be aware of all of them.

8. What is the required down payment?

Generally, lenders like to see a big down payment. If you can get 20% down, that is usually a very good start. However, it is difficult for ex-pats to get loans in Dubai, so you may have to put in more cash upfront to complete the purchase.

9. What neighbourhoods can I buy in?

There are lots of popular places to buy investment homes in Dubai. However, not all locations are open to foreign nationals, and you may not be able to buy property where you want to.

Property Viewing In Dubai

One of the first things you should do is review the different local laws governing real estate purchases, renting, and viewing of the property. The Dubai Land Department has a lot of rules, and you can find them at this link.

While you are reviewing those rules, here are some tips to follow to help you view the property in the best possible light:

  • Take Your Time– Go to the site when you have a few hours to closely examine the property and look at everything. If you are rushed, you will miss something important.
  • Schedule A Virtual Tour– Before you physically go to the property, look at it through a real estate video. This will help you cut your choices down to a manageable size.
  • Pay Attention To The Little Details– This includes which way the house faces. You could lose a lot of light if it faces the wrong way. Don’t forget to look at the size of storage areas, what maintenance needs to be done, keep your nose looking for foul odours, and so on.
  • Don’t Let Your Emotions Influence You– Your emotions can have you overlooking flaws because you fell in love with the property. That can be costly.

Some Final Words

While real estate is basically the same in every country, you still need an experienced estate agent to help guide you through the cultural differences in doing business.

When you are looking to invest in Dubai, give our estate agency a call. We have over 10 years of international real estate experience and can help guide you through the real estate market in Dubai.

It is a very complex market, and it is one where experience will help you get the best deal. Call us today and ask your questions about this competitive market.

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