Are you planning to buy an apartment in Deira Dubai? Well, it’s a huge amount you’re about to deal with. Home Buyers should make sure to avoid some mistakes.
For obvious reasons, buying an apartment is a substantial real-time investment in terms of time & money. Whether you’re buying for living or investment, a single mistake would cost huge money that you surely don’t want. Yes, apartment buying is really exciting, but there’re too many complexities as well.
While it’s one of the largest transactions you’re up to, you must be fully prepared to make a good purchase. Therefore, make sure you avoid these mistakes in order to make this deal turn up lucrative. So let’s dive in;
1. Home Buyers Not Doing Enough Research
Before plunging into house hunting, it’s imperative to analyses the decipher debts, assets and get pre-approved. Understanding your family’s finances & needs is essential. When it comes to buying a new house, home buyers must also get to know all about the neighborhood as you aren’t just buying a house but neighborhood as well.
Inevitably, it’s imperative to know more about the schooling nearby, supermarket, the crime level, transportation and upcoming zoning issues – if any. We all know that all parts of the suburb aren’t the ideal places to live.
2. Crossing the Limits
When it comes to limit, you need to look at your finance at most. Whether you’re buying the residential properties in Dubaifor investment or personal use, you need to know how much you’re willing to pay. In some case, this question can be tweaked like how much you can afford.
For home buying, the choices are endless – whether it’s 1 BHK or 5 BHK – home buyers must know what you need and how much you can pay for the apartment. It’ll be great if you do a little bit of calculation in advance without getting any emotions involved. There are a ton of websites online you can use to do a thorough calculation. Make sure you don’t cross your limits by getting impulsive.
3. Forgetting the Renovation
Since it’s a huge transaction home buyers dealing with, it’s imperative not to overlook the renovation budget entirely. Obviously, you won’t just put all your money into apartment buying, and that’s all. There’re many other things after that you need to consider like renovation, relocation and new furniture buying etc. Many times, people forget about the renovation budget and end up regretting their decision for not putting extra money aside for renovation.
Inevitably, renovation is the best way to convert your apartment into how you want your property to express your personality. Home buyers would agree that the most beautiful apartments have undergone the major renovations before turning up the way they look now.
4. Home Buyers Falling in Love
First of all, home buyers should know that the agents are just too good at reading emotions and gestures. It’ll be challenging but if you like a house, don’t let the agent know about it. If the agent knows you love that property, he/she is going to negotiate even the last cent out of you.
When it comes to home buying, the impulsive attitudes often turn up detrimental and lead to huge losses. You have to be smart while making this expensive decision. As a wise home buyer, you should know that there are a lot of houses out there to choose from. And obviously, there’s one right house you’ll get at the right price. In case you can’t afford one, just move one and keep looking.
5. Forgetting the Protection Clause in Agreement
Get this thing stamped in your head. Home buyers don’t need to sign anything until you’re certain about the protection of your interests. Never get fooled by an agent who says you can ask for changes in the contract at any time. That’s not how things work. The only way you can get changes done to the contract is to end the existing contract and renegotiate the new one. And most likely in the next one, the seller won’t agree on all your conditions. So make sure you know what you’re signing.