We have created a detailed guide for newlyweds looking to purchase a property in Dubai. Now, let's get right in and start exploring it!
Planning a Budget Before Purchasing a House
Buying a home in Dubai will likely break the bank. Budgeting and considering your alternatives are the first things to do when purchasing a property. As a newlywed, you'll need to pay for a lot of things. Thus, factor them all in, deduct the total from your cash reserve, and then you'll have a budget for purchasing a property.
Both outright cash payments and mortgage loans should be considered while making a final decision. The latter is more popular since it gives purchasers greater leeway and convenience. Keep in mind, nevertheless, that there are several options for mortgage financing in Dubai. You should get to know them and then make a decision based on that knowledge. You also need to be eligible for the loan in question.
You may start looking for a home in Dubai after you get a pre-approval letter from a lender after your loan application has been processed and accepted.
Choosing an Appropriate Real Estate Investment
The next phase in our home-buying advice is deciding what kind of house is best for you now and in the future. As a newlywed couple, there are numerous considerations beyond financial constraints that will play a role in making this choice. Family planning is at the top of that list. Studio or one-bedroom apartments in Dubai are enough for couples. But if you plan on having a family straight immediately, you'll need to find something larger. The budget plays a role once again because of the direct correlation between property size and rent.
The takeaway here is that you must think ahead when purchasing a property. You assumably won't be in the market for a new place to live every day. As a result, the choice must be carefully deliberated.
Location Is Crucial
Choosing the correct neighborhood is crucial, and no house buyer's guide would be complete without stressing this. To put it simply, your chosen location will serve as a primary determinant of your way of life. Make a prudent decision.
While deciding where to start this next chapter of your life, keep in mind the following:
Family-friendly Areas
There are several different neighborhoods and communities in Dubai. Depending on your needs, you may find that some are more suited for families, while others are more convenient for singles or those who are often on the go. You, as newlyweds, should start your search for a family home in a safe, secure, and easily accessible neighborhood. Examples of such domains include:
- Dubai Hills Estate
- Dubai Hills Estate
- Marina in Dubai
- Palm Jumeirah
- The Springs
- JBR
- Jumeirah Emirates Hills
Property Research & Inspection
The house purchasing advice also emphasizes the significance of doing research on the property and having it inspected. After making your choice, it's important to learn all you can about the property, including who owns it. It will serve to keep you safe from any potential real estate fraud. The best strategy, though, is to work with a licensed, well-respected real estate agent. They can give you access to the materials you need to learn more about a property.
You should not just study the property but also the neighborhood in great depth. Find out what the going property rates are, whether there are any forthcoming projects in the region, and how they could affect the market. Expo 2020 is having a significant impact on the communities around the event site. There has been a significant rise in both property prices and demand in these regions recently, especially for ready-to-move-in houses in close proximity to Expo 2020 Dubai. Finding out more about the location will help you determine whether or not it is a good fit for you. The services of a real estate agent might be invaluable in this respect.
In addition to your study, be sure you give the house a thorough inspection. Snagging services in Dubai are what you need for this.
The newlywed house purchasing guide is now complete. Although finding a new home with a spouse might seem like a daunting task at first, it won't be long until you and your partner are settled into your dream home and enjoy a happy married life. If you want to move to Dubai after some time, you can purchase Off Plan properties in Dubai and make your home like you want.
