Ten Tips to Consider When Buying a Property | Credence & Co
Updated: Feb 2
If you are deciding, then you need to know that investing in real estate is a haven for those who want to invest. However, in light of the diversity of real estate companies and the availability of units of all kinds, one finds himself lost between many options and factors that must be considered. Below we will highlight ten essential advantages to consider when buying real estate.
1. Geographical location and vicinity
The location is a significant factor in the selection process, as it is unaffected and remains constant. Concerning this critical factor, one must bear in mind the proximity of the dwelling to public transportation. And if you have children, you should look for a place close to educational institutions, such as nurseries and schools. The same applies if you are newly married because you will need these important factors in the future. Moreover, it would help if you also looked for a location close to important service facilities such as a supermarket, pharmacy, medical clinic, shopping centre, gas station and all other facilities you need in your daily life. As it is known, residential villa complexes should always have shopping centres that include many retail stores, as they are an ideal option that provides residents with convenient advantages. In addition, you have to study the surrounding area: the residents' income levels and the population's age distribution. Also, the reputation of the real estate developer, real estate prices and quality of construction give you a good idea that enhances your choices.
2. Know the Developer
What is the quality of the previous projects of the real estate developer? Is she distinguished? Does it meet or exceed the expectations and promises you made? Are they trustworthy according to your own experiences or those of your ex-friends? What is their track record in terms of maintenance and after-sales services? The real estate developer does not end his relationship with you as soon as the sale process ends but instead continues after that to meet your later needs and increase the assurance that your choice was right. Therefore, you have to do some studies and investigations, whether by yourself or with the participation of others, to enhance your search for loyal developers who offer high-quality projects.
3. The quality of the property/construction
The quality and quality of the offered real estate is what distinguishes the real developer from others. While some properties are just basic structures or units devoid of fixtures, others, priced at the same price per square foot, offer additional features such as wall-mounted fixtures, marble floors, modern kitchen appliances, smart home systems and more. With the developers, ensure you do not incur additional costs. Such developers work with the best partners at every stage of construction, whether they are engineers, architects, master developers or contractors, to ensure the provision of development projects with distinguished specifications and high quality and to reduce any potential problems, such as those related to construction. High-quality and excellently constructed properties help you avoid the subsequent significant expenses.
4. The area
Most people, in their search for real estate, do not consider the factor of long-term benefits and characteristics that change their requirements in the future. For example, you may be newly married and therefore only need a little space, but in a few years, your small family may be joined by other members, and there will be many relatives and friends who visit you frequently and even stay with you in some cases. Consider these possibilities and look for a place with at least three or four bedrooms with its utilities. Spacious townhouses or villas contribute to providing convenient and comfortable living facilities. Your options should also include homes with huge windows that allow bright sunlight to enter to enhance the rooms' spaciousness.
5. The look
It would not be easy to enjoy your morning coffee on the weekends while enjoying the view of the fish market or the power lines stretching out in front of you. Instead, imagine your view of fresh streams and flowing waterfalls, with birdsongs and birdsongs giving the place a breathtaking musical and poetic painting. Imagine yourself looking out the window of your house, enjoying the view of the sparkling lights and the excellent and extended horizon that highlights the magnificence and beauty of this city. Or enjoy your dinner with your loved ones by candlelight and soft music. Water, greenery, and the screen of presence complement the magnificence and beauty of the scene and place and remove many of the worries and tensions of life with its regular rhythm.
6. Service fees
It would help if you kept in mind regular monthly or annual costs, including electricity and utility charges. You should also bear in mind the expenses that may appear after the completion of the purchase process related to the maintenance of the residential complex. You should budget for these minor expenses. Contrary to popular belief, villa maintenance fees are usually much lower than those for apartment maintenance in terms of costs per square foot.
7. Maintenance standards
When considering buying the right property, you must ensure that the residential complex management deals with a reputable maintenance company. It seems complicated and tedious when you are in a situation that forces you to search for the right person to maintain a water faucet that exploded at five in the morning. Check the availability of the maintenance agency and the level of service they provide: the level of cleanliness and the frequency of cleaning. Most importantly, ensuring that your safety and your family's safety are prioritized - are smart technology systems applied in the home or not, what are the security systems used in the residential building, and to what extent are they able to keep the facility safe?
8. Amenities provided
Is the apartment complex self-contained? Does it have basic facilities? Going to a gym 20 minutes away every day is a depressing factor. And it's much easier if all the gym facilities, even the aerobics instructors, are nearby. Try to understand and study the available facilities comprehensively. Does the residential complex have a gate with security guards to ensure the safety of children? Are there playgrounds public for children? Does the complex have a gym and shared swimming pool? These are just a few of the amenities to consider. The list of amenities you want will depend on what your interests are.
9. Garden space
If you have young children, you certainly don't want them to be locked inside the rooms. Landscaped spaces or an expansive garden allow children to be outdoors. As for you, there is nothing better than spending a weekend enjoying reading a book in the peace of your garden.
10. Aftermarket value
Although moving to a new home is an attempt to change the lifestyle, which is usually permanent, there is a possibility of making different decisions as a result of circumstances that may arise in the future, such as taking a new job in another country or moving to live in another place - home. It has many bedrooms or has a new location. And you may not want to keep your immediate property because of the financial requirements you will have when you move. Therefore, when buying a property, you should remember how much it will be worth when it is resold after a specified period.
Given these factors, the picture will be more precise in front of you, and you will be more confident and knowledgeable about your final decision to buy a new home.
If you are examining the Dubai property market, consider Credence & Co. for your Dubai property valuation needs or pre-handover inspection, a leading valuation company in Dubai with the right team abilities and knowledge to deliver.
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