Property is not just an entity that adds value to your investment portfolio, it goes way beyond money. Property gives us a sense of joy, prestige, fulfilment and achievement in our lives, so we must invest in real estate wisely by closely analyzing any property that we may come across. Here is a list of parameters you should consider before investing in property in Dubai-
Find Your Purpose
This is the first step that you need to be clear about before investing in real estate in Dubai. You must understand the reason, horizon and purpose of your investment in a property. You can buy for personal use, buy and sell it in the short term or long term or you could even lease your property where you are assured of a steady source of income with the advantage of the long-term appreciation in value.
Check Your Credit Score And Loan Eligibility
Before making any investment in real estate, having a good credit score which impacts or influences your loan eligibility is a factor that needs to be well considered. A score above 800 makes you eligible for a good mortgage.
The main purpose of investment lies in the return on investment that a property may fetch you. Get your prospective property evaluated by experts before you invest in real estate who can help you to assess its appropriate valuation through parameters like cost of land, location, rate of appreciation or depreciation, etc.
Ready To Move In Or Off-Plan Property
For investing in real estate in Dubai, both are great options depending on your requirement and purpose. If you are looking for a property to shift immediately, ready to move in is your deal but if you are looking for a long-term investment option or several customizations into your property at rates lower than a ready possession property, off-plan properties make the perfect deal for you.
Location Of Your Property
This is one of the most crucial factors to be evaluated before going in for an investment in real estate. Proximity to recreation centres, malls, public transport, markets, workspaces, etc. have a significant bearing on the valuation and demand of a property.
Regardless of the type of property, having the requisite information on the legalities associated with a property becomes a major factor before giving your investment the go-ahead. This is to avoid any subsequent legal repercussions that a property might have. So, seeking legal assistance to get the documentation and other procedural matters sorted for you makes for an intelligent move.
Investing in real estate in Dubai can be a bit daunting sometimes for the sheer choice it offers so understanding the market dynamics and latest trends in the real estate sector helps you to have the much-needed vantage point to help you evaluate numerous properties suiting your requirements and budget.
If you are looking for an investment in a commercial property for long-term gains, you can invest in properties that are situated around educational institutes or offices as any shop or establishment may prefer a location where the young or working population is more for they form a potential customer base for them as well as you.
Once you have finalized your desired property, make sure that you choose a sustainable and cost-effective payment option that suits your financial position. Any upfront payment without the timely promise of possession must be carefully checked.
These are a few things you must consider before investing in real estate in Dubai but to make your work easy, we at clematis help you sail through all these challenges with great ease and convenience. So, you can start to invest in real estate now! Contact us