8 Common Property Buying Mistakes People Make in Dubai
If you are able to buy property in Dubai then it is nothing less than a remarkable achievement. Excitement knows no bounds, especially for first-timers, when they are sorting out listings for properties for sale in Dubai. However, this is the part where they tend to make mistakes. And a mistake made here can prove to be very costly for the property buyer.
On this note, let’s take a look at the 8 most common mistakes property buyers are guilty of and how you can avoid them:
Common property-buying mistakes to avoid:
1. Not Getting Pre-Approval:
It is important to get a pre-approval letter from your bank if you are planning to mortgage a property. This letter specifies the upper limit of the amount that will be lent to you by the bank.
However, many people start searching for properties without getting a pre-approval letter from their bank, even finalizing some. This can prove to be one of the major property-buying mistakes, especially if there is a disparity between the value of the property selected and the loan amount given to you by the bank. If the value of the property exceeds the given amount, you will have to start looking for the right property all over again.
2. Making Hasty Decisions:
3. Choosing Wrong Location:
4. Skipping Property Inspection:
5. Skipping Neighborhood Inspection:
6. Not Taking into Account Additional Expenses:
7. Using All Savings:
8. Not Reading the Contract:
Final Word:
It is not every day that you are looking for Investment Property in Dubai. Hence this decision should be made after thorough deliberation, consideration and research. Above all it should be ensured that there is no mistake in this regard. Visit Sweet Home Real Estate Investments GmbH to get the best solutions for Property Investment in Dubai
