5 Questions Buyers Must Ask Before Buying Property in Dubai

Purchasing a property is an investment of a lifetime. However, since it means shelling out a lump sum of money, buyers always have the right to ask questions to ensure their money does not go to waste.

But for new buyers, it might be challenging to come up with a specific set of questions that might eliminate any doubts they have about the property. However, which questions should they ask? Here are some ideas.

1. Price Range in the Area

One of the most important factors to consider when buying a property is its location. It is essential to know if the area is going to be developed soon or if there have been any recent developments that have taken place.

Many buyers tend to get caught up in the moment and think about the property only. Sometimes, they do not even consider if the property's location is a high-end venue or not. However, it is essential to think about the area and what it has to offer.

2. Listing Duration

When looking for a property to buy, it is essential to determine how long the listing has been active. The longer the listing has been active, the more chances you have of getting a good deal on it. Properties that have been listed longer can likely have cheaper rates.

If the listing has been active for a long time, the seller has not been able to sell the property. There are many reasons why it takes them time to sell the property. But pricing has to be a significant factor. There is a big chance that the seller might accept a lesser price to make a deal.

3. Reason for Selling

The reason for selling a property should give buyers an insight if they can haggle for its price or not.  If they are selling the property because they are moving to another state or country, they might be in a hurry to sell the property, which means they can accept a lower offer.

On the other hand, if the seller is selling the property because they need to move to a smaller house or is downsizing, they might not be in a hurry to sell the property. Haggling for a lower price might not work as they see value in their property.

4. Upgrades or Significant Changes

It is also ideal to ask if the property has undergone significant upgrades, renovations, or extensions in the past. The seller might have upgraded the property since they bought it, which means the property is worth more than its listing price. The upgrades can be in the form of a new roof, an extension, or a new HVAC system.

The seller might also have made significant changes to the property that can affect its value. For instance, they might have converted the garage into a bedroom, which can add value to the property. These factors will play during haggling as they might lessen the chances of getting cheaper.

5. Service Charges Added

Some sellers might add service charges to the selling price of their property, which can be unfair to buyers. The service charges can include estate agent fees, solicitors’ fees, or even the surveyor’s fees. Ask the seller if they’re willing to waive these charges to save you money.

Conclusion

Questioning helps buyers determine if the property they have their eyes on is an excellent investment or not. When it comes to real estate investing, due diligence is critical. Buyers must ensure they are fully aware of what they are getting into before making any decisions.

Dacha Real Estate is one of the best real estate companies in Dubai. As a property agency, we take pride in making it easier for clients to purchase or sell properties in the area. All it takes is letting us see the property, allowing us to analyze its best qualities, and listing them on our website as for sale. Inquire on our website and speak with our estate realtors today.