5 Tips for buying that Dream Holiday Villa in Dubai

The sluggish property market in the entire Middle Eastern region has affected every Emirate in varying intensity. While property investors are having their fingers burnt, there has been a silver lining to the dark cloud. Many genuine buyers, who’d kept away citing the sky-rocketing prices during the boom period, are now beginning to show interest in purchases again.

So if you are one of those wise people who have been waiting to purchase that dream Holiday Villa in Dubai, then here are some tips to help guide you in your dealings. For a promising market, such as this, won’t stay sluggish forever

Avoid Speculation:        
One of the key mistakes that investors made in the recent property bust was to make speculator purchases. There were reports of people trying to outbid others in an attempt to get ahead in property draws. Prices that were already on a rise were sent spiraling out of control by investors that were pouring good money into bad transactions. So, unless you have several compelling reasons, it’d be wise to stick to offers of ready-to-move-in properties

Go Visual:          
 Sure, anyone can create a swanky website and splash a lot of money on the promotions. But, the reality could be quite different. A holiday home is quite a commitment and involves a large sum of your hard earned money. While the initial research may be conducted online, it does help to pay a personal visit to the shortlisted properties and choose the best one yourself.

Credibility:

A developer that cares for their property long after they have handed it over to the residents speaks volumes about their credibility. Reputed developers usually tend to use materials of a high quality and do not cut corners. A great way to check for this is by asking for references of current home owners. You could also do a background check on the developer with the local authorities like the Real Estate Regularity Authority (RERA) or the Lands Department. This comes handy when dealing with anyone other than a Tier-1 developer.

Unnecessary Loading:

Property taxes in Dubai are often calculated on the total area of the plot. It therefore makes more sense to pick up a 5000 square feet villa that’s located in a 10000 square feet plot rather than one that’s located on a bigger plot. Apartments too are not spared from this malaise and an apartment purchase also includes a certain component that’s added on for all the common areas (balconies, landing areas, etc.)

Research Extensively:

There is plenty of help available on-line available for all those who are willing to make the effort. Forums, for example are a rich source of information to help you with your purchases. One can easily uncover the real picture of a particular property or area by asking the right questions. Utilities costs, transport facilities and other ground-realities, they can all be found out online.

So, good luck with your hunt for your dream purchase. Remember, if that dream villa still seems out of reach, a holidayapartment in Dubai might just fit the bill!