The All-Time Necessary Catalogue Before You Move Out

Have you been thinking of moving out to a new place and selling the old one? Well, if you are doing it for the first time, make sure you hire real estate agents. This is because only an expert can help you with the right marketing and sell your home to a suitable client at appropriate rates. Along with this, there are numerous other things that should be included in your schedule before selling the property. Let us understand what they are:-

Hire a broker: So, you have decided to sell the property, the first thing as mentioned earlier is to hire a broker that has been registered with an agency. This will help simplify the process of selling and buying homes. Brokers are extremely useful as they help in understanding the market so as to provide useful advice that may affect the deal of your house. For instance, they help with the planning, giving tips that are vital and need repairing, eliminating and moving unnecessary furniture, along with setting up a final price for your home.

Hold an open house: Open houses have been a time-honoured tradition of showing a house to prospective buyers. You can either choose to run an advertisement in the paper or online or simply ask your agent to do the needful.

Choose a lender wisely: You are going to be selling, if only, you have a profit, this profit along with your savings will help you purchase another property. This is why, it is crucial to set up finances, before buying a new home. Look for various financing options that are being offered by lenders. Compare rates and then make certain that you get a pre-approval letter for loan you are qualifying to obtain. Under no circumstances apply for maximum mortgage, as lower mortgage payments are a lot easier and convenient to pay.

Sell before you buy: It is a good practice to sell a property before you purchase one. There may be high chances of you being allured to big and beautiful properties and may not get what you thought you would.

Dubai Is Ready To Rock And Roll All Over Again!

Dubai had sparkled out of the Arabian Desert to be known as a top-notch city around the world. It has, and continues to fascinate its entrepreneurs and adventurers. It was once a sluggish fishing village, but today, it is a prosperous urban sprawl with a refined network of highways and skyscrapers. It has to its credit a plethora of extravagant malls and first-class hotels and attractions. Furthermore, Dubai, aspires to reinforce its position as the Middle Eastern hub for conveyance and sightseeing. For this, it has initiated quite a few major construction projects that abide some of the characteristics of the debt-laden boom years.

Dubai is gearing up to build a replica of Taj Mahal known as Taj Arabia by 2014. This facsimile, however, will be four times bigger than the original monument. It will include one million sq ft of retail space besides a 300-room hotel. Furthermore, we are well-aware about the gold and jewellery business in Dubai increasing every year. Therefore, there are plans to target the best of jewellery retailers from around the world to attract more tourists. The central theme of this colossal monument will be wedding and romance. What's more, Dubai has always aimed to reinforce its position as the Middle Eastern hub for transportation and sightseeing. Hence, it is no surprise that, HH Sheikh Mohammed bin Rashid Al-Maktoum, the Dubai ruler, has ordered the erection of a new city, named Mohammed bin Rashid City. This city would be at a whopping sum of more than $10bn. This city will be set in a dexterously backdrop estate replete with lush greenery, soothing water fountains and flowing streams. It will encompass 100 hotels, world’s largest shopping mall, art galleries, exhibition centres, and five theme parklands. Sheikh Mohammed is confident that the projects will help boost Dubai’s economy and infrastructure.

 

Nevertheless, Dubai will have to be cautious to steer clear of another boom and bust, with industry stakeholders having to make certain that the upturn in the construction sector is built on strong foundations rather than on conjecture, corroborated Liz Martins, an economist at HSBC Middle East.

The Rewards of Staying in Vacation Rental Homes When on a Vacation

If you have planned a holiday, deciding where to stay is one of the most vital choices you have to make. The first thought that generally comes to mind, is booking a hotel room. Hotels maybe well-located, but sometimes in the peak seasons, rooms aren’t available, or they are out of budget. This becomes more pronounced when your trip involves a lot of travelling, and you find yourself paying more rental than you thought you would. Also, there are times when staying in a hotel and eating the same hotel food becomes a bit boring and monotonous. So, what do you do in cases like these? The answer is simple, book a vacation rental home whether you are vacationing, seeing family and friends, or attending functions! Listed below are some of the many benefits you can avail when on a trip.

·        Economical: Rental homes are definitely more cost-effective in terms of hotels. When travelling is on your agenda these homes make perfect sense. Also, they are homely and comfortable.

·        Privacy and Space:  Villa rentals are ideal if you have a large group coming. A place like Dubai is a popular family destination, and finding vacation rentals is not as difficult as it is made to sound. What a hassle it would be if you are to imagine reserving a separate accommodation just to fit in all the members? With a villa you get to have more space, you’re given the liberty to cook your own food, and what’s more you get a lot more privacy. This is chiefly because; most of these are single or detached. Plus, you don't have to be bothered about the noise coming from outside.

·        Flexibility: Unlike usual hotel rooms, you don't have to have a fixed clock to follow. You can have your own set of schedules and programmes just the way you want it.

The sheer experience of staying in a vacation rental home instead of a hotel is a satisfying one. As long as you can make the necessary enquiries, and ensure that you have all the information that you need so as to make the stay a wonderful venture!

3 Easy Steps to Avoid Rental Property Scams

Corrupt people simply know how to deceit someone. This is particularly true when economic times exacerbate, and people find newer ways to take advantage of honest people. Lately, a lot of it has been seen in Dubai, the news about several renters leaving their rental property unexpectedly, because the rented place is illegal, is highly disturbing. Finding a home is not an easy task, and once found, losing it makes it even worse. None of us want to be out of deposit money and monthly rentals. So, just in case you’re wondering how to avoid these types of home rental scams read the following:-

1) Verification: Swindlers often use the local newspapers for their classified advertisements relating to rental properties. They may put up elaborate and urbane pictures of homes, which maybe legitimate, but not their own. Therefore, avoid these by first confirming and verifying all rental real estate leads you have considered so far before you sign up for one. Also, don’t go blindly with any of the real estate agencies who seem to be in a hurry to sell the property they in all likelihood will cheat you.

2) Research: Do some research before you sign up those lease papers. You could call up the landlord and ask him general questions. If, at all, the answers seem obscure, it could be a sign that the property owner is illegal. Find out about your neighbours as a number of scammers rent the property for a month and vanish with the money without prior notice. To be on the safe side find a reputable local real estate agency. This is because they have access to quite a few real estate leads that are legal and in the area of your choice.

3) Be cautious: Be very careful when handling cheques or money orders that are written for more than the necessary amount if you are the landlord. Do not cash them or even forward the difference to a third party. It is a sure-shot sign of a scam.

In short, don’t dish out your money upon the first accommodation you come across. Don’t be deceived by the most promising advertisement or the most alluring picture. Simply follow the above tips and keep yourself and your near and dear ones safe!

Renting – The Smarter Financial Move

Moving to a foreign country can be a daunting task and trying to it find a place that perfectly suits your needs and requirements is even more intimidating. With the economy of Dubai growing by leaps and bounds every year, it has become one of the most economically beneficial and dynamic cities in the world. It offers you fantastic opportunities, beautifully designed structures, along with a safe and harmonious environment. These factors allure people into coming and settling here. But, the more the population grows the higher is the demand for rental properties. So, what are the benefits of renting an apartment?

Save money - You may think it is impossible to save money while renting an apartment inDubai. But it’s not as difficult as you think! Most people see rent as needlessly throwing away money. However, if you only have to stay for a short period of time, wouldn’t it be a lot more convenient and not to mention easy on the budget to rent instead of buying a house? When you buy an apartment, you end up paying a lot of tax, insurance fees, maintenance costs etc. Therefore, opting for a rented house can be considerably cheaper than buying.

Liberty to Choose - If you have just moved to Dubai, it may take a little while for you to get a feel of the region. You may need time to understand which area is ideal for you to live in. With renting, you have the liberty to move in or out as per your convenience.

Low to No Maintenance - Your responsibility of maintaining the house is drastically reduced. You don’t have to worry about any of the extras when living on rent. The landlord takes cares of almost everything.

Facilities – More often than not, rented homes provide you with basic amenities so you don’t have to worry about a thing when moving in-to one.

No Risk:  The housing market, no matter where you are, tends to fluctuate. And, if in case you plan to put up your apartment for sale; in the recession period, you may perhaps even lose money. But, with rented homes you will have no risk of losing money.

Renting is beneficial for those who do not intend staying for long in one place whereas buying is for those who want to have the independence of home ownership. In any case, it is up to you to make a decision based on your needs and requirements.

Significance of RERA

Dubai is no longer seen as a dry, barren desert with scorching weather. It has over the years, become a global attraction for millions across the world, with a little something for everybody. However, one is sure to be shaken when they read about rental scams in Dubai. For instance, recently, there was news about residents and landlords who had been scammed by phony rental agents.

The most widely-known story was that of two owners of a highly reputed entertainment company. These owners cashed in rental cheques, but failed to pass on the total amount owed to the landlord; before running away from the country with millions of Dirham’s. It is against the law for a person to execute any form of brokerage activity in Dubai until and unless they have a licence by the RERA (Real Estate Regulatory Agency). The victims of the rental scam had one thing in common; they all said that; they had given money based on trust, and no checks had been done by any of them.

Prior to RERA, there was no standard sales agreement, no training for rental property brokers, no standard form or clauses, or even a legal necessity for a lawyer to help out. Thus the RERA was founded – an organisation which helps in the regulation of agencies, agents as well as developers. It also helps in liaising with, and recommending new property laws to, the Government. Besides, it also aids in developing various processes and documentation, for standardised procedures that are linked to property management. This way, they can keep a check as well as help in establishing real estate agreements, which consist of rental agreements. The agency also gives information and statistics on the Dubai property market to both, the Government and the public.

Thus, the Real Estate Regulatory Agency (RERA) has established itself for the betterment of Dubai's rental property market. This way several corruptible agencies, developers, and agents will be filtered out, leaving only genuine property investors the opportunity to deal with real estate transactions in Dubai.