Investing in a home is not an easy task. You may have a lot of confusions in where you can invest and what to buy. Follow these simple tips to make your home buying easiest way. That is all about what you ought to do when you buy a home. As a leading real estate developer in UAE, our main target is to help first-time home buyers.
Make Sure all Documents are Legal
Starting thing, you must do is to confirm all legal documents. Never buy any home or property without legal documents to avoid disputes down the road. Before making an investment in your property, make sure it is signed completely. These documents may include a title deed if you are buying a ready home or sales and purchase agreement from a reputable developer.
Check out the Neighborhood
Investing in your residential property, you should check the neighborhood and the community. Make sure amenities and facilities that are important to you are available nearby. Do you want to play golf, or walk on the beach? Do you want your children to be able to walk to school? are there plenty of restaurants and cafes nearby?
Be Careful on Negotiation and Bidding
Everyone wants a good deal but be careful not to be unreasonable. Negotiating on price or payment terms depends on market conditions. However, it is safe to ask for 5-7% discount and see how the seller reacts. If you low ball the seller may ignore your offer completely and regard you as not serious. Developers in UAE would consider 3%-5% discount based on payment terms being offered. If you are paying full payment you can expect a bigger discount. However, if you want longer payment terms directly from developer then you may not get as high a discount as you expect. Asking price is usually firm on off-plan and under construction projects but you can usually negotiate on ready properties.
Buy Based on Information not Emotions
Young families and first-time home buyers sometimes get caught up on emotional aspects. These could be the property size, colors on the walls or the promise of a lifestyle. Think about what is important to you and your budget. Go home, sleep on it and decide after you have considered everything.
Look for the Perfect Home not a Perfect Market
Real Estate market is not as volatile as stock market. Real Estate market may experience ups and downs but grows in the long term. You should consider investment in residential real estate as a long-term investment. You should study the market and general economy as well as supply and demand in the real estate market. This information is available online and on the news. However, you should not wait for the perfect market to invest. If you are a regular investor in real estate, then you should consider, price trends, rental yields and financing rates. But if you are looking for a home for you and your family, your main concern should be location, quality of construction and mortgage rates.
Visit the Construction site Regularly
If you have decided to buy an off-plan property, be sure you are buying from a reputable developer. Be sure to visit the construction site regularly to have firsthand knowledge of construction progress. Stay in regular contact with the developer to follow up on construction status and gain comfort that they are meeting the promised construction milestones.
Find Good Interior Designers
Whether you have invested in an off-plan property or a ready to move in home, you may wish to improve your new home. Consider contacting a good interior designer. It is a good idea to get a professional help you in making your investment into a home.
If you want to buy Properties in Ras Al Khaimah, consider Al Hamra Real Estate Development. Al Hamra Real Estate Development is a leading real estate developer in the Middle East. Al Hamra offers ready and off plan homes in a gated international community to global investors. Properties in Al Hamra are freehold properties available to all nationalities.