Wednesday, May 22

Buying A Townhouse? Make Sure You Know These 5 Things

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Dubai offers many townhouse communities for the expatriate or local looking to buy a property in Dubai. Dubai Sports City is one of those districts which not only offers a variety of residences including townhouses, but it also features an international stadium, soccer schools, a rugby park, and even a golf course. If you’re on the hunt for the perfect townhouse, ensure that you know these five things.

1: Finding The Perfect Property For You

There are many reputable Dubai Real Estate Agencies, therefore, the goal is to find the perfect accommodation for you. The right agent should not only be registered with the RERA but should also go above and beyond to ensure that you find your dream home.

2: Conduct Research

Even though the agency would thoroughly guide you throughout the entire process, you should still conduct your own investigation so that you still have an idea of how things are done. That way if you do not understand something, you are well within your rights to seek clarification. You should also research and read many reviews which confirm the workmanship of the developer. You’ll feel more comfortable knowing that the developer you are interested in, has a great track record. You’ll also want to research the neighbourhoods available to ascertain if the amenities are a right fit for you. For instance, the Dubai Sports City is an active neighbourhood, but you may be looking for a community which is more laidback and tranquil. You’ll only know what each neighbourhood has to offer when you have done your research.

3: Know The Difference Between Freehold Areas And Leasehold Areas

Freehold areas are mainly for foreigners who are looking to acquire a property but is limited to certain areas. On the other hand, leasehold areas allow the potential buyer to lease the property for a period of time which varies from 10 years to 99 years.

4: Total Cost

There will be a variety of fees which you should add to the total cost of the purchase price. Yes, Dubai is a tax-free haven but you should not forget to allocate funds for the transfer fees, registration fees, the agent’s commission and even the no-objection certificate fees. If you do not make the necessary arrangements, you’ll find yourself spending more than you bargained for.

5: Average Timeframe

The average transaction takes about 30 days to complete from the date on which the Agreement for Sale is signed.


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