The United Arab Emirates is the perfect place to settle down and to start building a family life. Buying your own villa will be the first step to the welfare of the family, so everyone dreams of owning their own home. There are five main factors to pay attention to if you want to buy a villa in Dubai.
The main factor for each tenant is the amenities because it provides a comfortable stay for the whole family:
- ample parking;
- swimming pool;
- sports ground or indoor gym.
It is worth paying attention to the location and infrastructure. Ideally, supermarkets, schools, pharmacies, kindergartens, hospitals, and transport interchanges should be located near the villa.
The property developer of villas
Data on the developer should be checked in the first place because it will guarantee a comfortable life. It is worth paying attention to such criteria:
- the developer’s finished projects;
- the evaluations of the previous clients;
- conditions of service provision;
- work experience.
You can look at the developer’s records on their website. There are also online resources where you can find information about developers operating in Dubai.
Type of villas
In Dubai there is an opportunity to buy a villa, drawing up these types of property:
- A lease with the right to live on the land is executed for a period of 99 years. The cost of this option is cheaper, but if you intend to carry out remodeling or reconstruction, you will need to issue a permit.
- Freehold allows you to do any construction work as well as sell or rent out your home. Also, in the event of the death of the owner, ownership of the villa passes automatically to his family.
The title deed
To formalize the purchase, it is necessary to legally correct the transaction:
- Sign a pre-sale agreement.
- Fill out Form F or a Memorandum of Understanding.
- Draw up a certificate that confirms that there are no claims against the builder.
- Sign the deed of transfer of title.
At the final stage of the transaction, the previous owner transfers all rights to the property to the new owner.
Real estate price
Buying real estate in Dubai is a good investment that will lead to an increase in the owner’s capital. Since prices are expected to fall by about 5% to 8% in the near future, it is the best time to buy a villa. In the future, such an investment will provide a maximum return of 10%.