Valuation of property
Matt Ti :A property appraisal is one of the most critical aspects to consider before investing in real estate, as it helps to reduce any existing or potential risks surrounding a property purchase. This ensures that the investor pays the right price, improves financial transparency between the buyer and the seller, and plays an important role in securing a mortgage.
Purpose of investment
Matt Ti :Due to the fact that real estate offers little liquidity in large investment deals, investors need to be clear about their objective. Whether they want the property for personal use, or for periodic income through rental or for good short- or long-term sales.
1. Watch out for fake listings and take a quick look at the property before visiting.
Make sure the listing you have is valid and the properties are available. Thanks to the advancement of technology, you can fully see your potential home through 360-degree images, a video tour, or an interactive building map before an official visit. It is recommended that you do this before the actual visit and decide whether the property in question is worth visiting or not.
2. Location, location, and more location!
Dubai is getting bigger fast. It is enough to look at other cities and their property values to understand the importance of the physical location of the property and its impact on capital growth. An old adage in home buying says: “Buying the worst property in the best area is better (wiser) than buying the best property in the worst area.”
3. Consider all costs.
Before viewing the property, find out the final cost, including all fees and the amount of down payment required, if you decide to buy. In the UAE, some of these things may be different from the conditions in your country. Therefore, be sure to get complete information about the purchase process, timings, and when you should go through what step. Also, before visiting, make sure of your ability to pay by receiving confirmation of financial conditions.