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Top 7 Must Know Steps to Buying A House in Dubai

Steps to buying a house in Dubai

Buying a house is a huge decision, almost daunting and intimidating at first thought. There are so many things that are a part of the house buying process, most importantly regarding planning for the house you intend to buy, the way you want to decorate it, financing it, and much more. One may sit and think about their ideal house and where they’d like for it to be but for that plan to actually come to life, there is a standard procedure to follow as listed below. With regards to buying a house in Dubai, the process can take anywhere from 2-10 weeks depending on how the home is to be financed and the ready to move in time period. Below is a simple outline of the steps to buying a house in Dubai, but for further information tailored to your requests, you can visit Texture or speak to one of our agents.

Steps to buying a house in Dubai

  • Do your research! This has the most impact on your decision and ultimately guides your decision and plan from start to end. What kind of house are you looking for townhouse, villa, apartment etc. how many bedrooms are you looking at what kind of amenities, benefits of the area and home are you looking out for and most importantly the location you plan on living in. it helps to have a budget in mind at the beginning but that can take shape as you look at options and understand what’s on properties offer in the market.
  • Financial Planning! are you looking to purchase a home through a bank in terms of a mortgage or home loan, are you going to utilize personal savings and invest in property, are you going to initially rent- if yes, do you have enough to cover rental costs, utilities comfortably and is that more cost effective than purchasing. Transaction expense for buying a house in Dubai can range from 3-7.5% of the actual price.
  • Find Reputed Real Estate Company! After the planning stage is complete, it would serve you best to find a reputed real estate company to streamline the rest of the steps for you. Top Real estate company in Dubai can negotiate for you, get you accurate and insider information about properties and help you out with all the paperwork leading to the sale closing time.Buying a house in Dubai
  • Property Evaluation! Compare asking price from lender to market asking price. Don’t go for the first deal offered- always make sure you do ample research and work alongside your agent on this. Once your shortlist your dream property, you can have the house inspected and deal with any shortcomings accordingly, well before sale closing.
  • Buyer Seller Agreement! Obtain the NOC documentation and visit the Land Department to complete ownership transfer. The Buyer-Seller agreement is also an important, crucial part an agent can assist with.
  • DLD Registration Processes! When all processes have been registered, the buyer needs to pay 2% and 315 Dirhams to the Dubai Land Department, along with the purchase price to the seller and the commission to the agent.

  According to the rules set by Dubai Land Department, the two (buyer/seller) are required to exchange a security cheque worth 10% of agreed sale value. Should either one choose to withdraw from the agreement, the affected party has the right to keep the 10% security amount as compensation.

  • Title Deed! The buyer will then be given the title deed which will be in his/her name, along with the keys and the access cards to your new house in Dubai.Texture Properties Dubai

All in one, the process to own a properety in Dubai is very well regulated and efficiently streamlined to ensure a smooth buying process for all involved parties. With these steps taking minimal amount of time, the burden of a lot of paperwork is taken off the buyer with the help of a top real estate company. With Texture, you can guarantee a smooth house search along with a super-efficient steps of buying a house in Dubai with all necessary matters taken care of. Additionally, Texture provides excellent property management services and ensures quality service and assistance as per each client’s requirements and demands. To search for your home and begin your own buying process, visit us at our office or request a call back at www.textureproperties.com and find your house today while you can confidently leave the rest on us!