Buying Apartments In Dubai: 7 Things to Consider
An apartment can be the most suitable first property investment you can make. However, you must not go ahead with the purchase without considering crucial factors first.
Apartments are excellent alternatives to houses and villas if you want to live near the city. Keep in mind, however, that they come in different sizes and include various facilities. Some may even come with hidden costs. For this reason, you need to look far beyond the price tag and assess several factors before making an investment.
To make choosing among different apartment offers in Dubai easier for you, here are the seven most important considerations that can help you make the right purchase decision.
1. Select the right neighbourhood.
Apartments vary in prices primarily because of their location. An affordable flat is not a great deal if you have inconsiderate neighbours. While you can’t exercise control over this aspect, take note that they can have a massive impact on your day-to-day living.
Ask the seller about the building’s tenants. When possible, walk through the entire building to gain an idea of the setting you will be having.
For instance, determine the location’s noise level by visiting the unit at the busiest time of the day. Other things to pay attention to are air quality, proper lighting, and odours.
Apartments on higher floors have their advantages. You can get better ventilation, light, and views of the locality when you’re higher up. There will also be a lower impact on street noise compared to those on lower floors. Most importantly, higher floors are often free from the nuisance of rodents and mosquitoes.
2. Inspect the building.
Check the building’s layout and structural integrity. Is it new or old? Is it structurally sound? Does it involve regular maintenance costs?
When inspecting the apartment, there must be at least two lifts, so if one isn’t functional, you can use the other. This aspect is essential if you want flats on the upper floors or if you are living with children and the elderly. Check the staircases, too, because these will provide the convenience to access floors and walk during emergencies or when lifts don’t work.
Moreover, check out for red flags like broken sealants, mould, and cracks. Check also the building’s basement area as this will tell you more about its quality of construction and dampness.
If you are buying apartments for sale in Dubai, ask the developer about the type of materials and solutions used, date of completion, and other crucial details like furnishings. Remember that getting approval for renovation is not easy, especially if you are looking into major improvements, so if you are not pleased with the unit’s design, look elsewhere.
3. Look into nearby facilities.
Since apartment living often translates to limited space, it is crucial for you to look into nearby facilities. It is best to live close to schools, parks, supermarkets, health centres, and restaurants. It might not be essential to invest in a property near your place of work, provided that it has good access to public transport or you own a car.
4. Check out the parking spaces.
Car parking space is limited around high rise buildings, especially if you are considering buying a property near the CBD. For this reason, an apartment that comes with a designated parking space is a better option. Be careful, though, as this may require you to pay extra. You can ask the seller if you can use their parking slot or perhaps find a space in the street, but having your own car parking space will save you time and money.
A car parking space is also beneficial even if you don’t have a car because you will never know if you will need to rent a car for a week or month later on. It will be useful as well if your family and friends bring their car with them when they visit you.
5. Assess the building’s safety and security features.
Lower floors are regarded as unsafe as opposed to higher floors, perhaps because of easy accessibility. But regardless of which floor you choose to live on, it is vital that you assess the security features and arrangements of the building. Invest in properties with tight security details such as security cameras, swipe cards, pass codes, and 24/7 security guards. This may contribute a bit to your annual fees, but it will give you peace of mind.
Fire safety should also be accounted for. The building must be equipped with the right fire safety features. Make sure that it has been constructed based on the permissible plans and abides by all local laws.
6. Stay within your budget and get professional help when possible.
Before anything else, you need to set a budget for the apartment you want to purchase, and make sure to stick to it. Doing this will prevent you from getting a unit with a price that is way beyond your financial capacity.
If you intend to get a mortgage, consider getting professional help. Reputable developers of Dubai South properties can suggest the best mortgage supplier for your specific needs. Since they partner with different financial institutions, they have access to flexible financing solutions, discounts, and remarkable loan terms that they can pass on to you. These property experts can become your partner in finding the most suitable property for you and your family and the mortgage provider to match your needs. Best of all, these services for free.
7. Read and understand the paperwork carefully.
Before closing the deal, you must read and understand the paperwork carefully. Clarify any word or phrase you may not understand. And since you will be signing several documents, consider getting a lawyer or someone who has broad experience and knowledge in the real estate industry to help you throughout the buying process.
High-rises are becoming coveted properties in most cities worldwide, including Dubai. So if you want to buy ready furnished apartments in high-rise buildings, take note of these seven critical factors. Don’t hesitate to get help from property experts as well because they can assist you in finding the best mortgage provider so you can enjoy the most suitable investment opportunity.