It is a known fact that working with real estate specialists makes real estate investing less complicated than it seems, and here’s why.
From trying to lease or lease-out, to buying or selling properties most of us are involved in some form of real estate transaction one way or the other. While every stage of a property transaction has its own challenges, the ‘search’ is one of the most daunting for every home buyer since the home being bought eventually houses their family, a factor close to one’s heart. In other cases investors buying residential properties are looking for absolute value for their money (more space, prime location, floor rise, corner unit, luxury fittings, attractive project features and amenities, upcoming government projects or sometimes all of these!) and of course incremented ROI for the monies invested.
How you search matters
Dubai is a land of opportunities in many ways and especially when it comes to real estate. Your choices can make or break the wealth you plan to build, be it buying a home or investing in one for returns. To end-up finding the right property depends on how you search for one. In this aspect, all roads do not lead to the same result since how you search and the choices you make drastically impact what you end up getting. So it is very important to understand and be clear on how you would search for a property.
Informed decision is a norm for real estate experts
Any investment option you look at will have advantages and disadvantages. One of the keys to finding the right property for you is research – learning as much as possible about the local property market, demographics, as well as macro and micro economic conditions that may affect the market. Sometimes if you’re just starting out, the sheer amount of research you have to conduct to keep up with current events and movements within the market can be overwhelming. Getting expert assistance from property specialists, who have their own dedicated team of researchers, can help you to sift through the information you don’t need and find the data that will help you to make the right investment decisions.
Experts understand the industry cycle
If you talk to a real estate agent or investment specialist one of the important things they will ask you about is your long-term financial goals and investment plan. Smart real estate investors are in it for the long haul, not for short-term gains. They understand that local market fluctuations and the property “boom and bust” cycle matter less than following a 10 to 15 year plan that maximizes ROI as well as income potential. This means that any investment property you consider should tick a range of boxes when it comes to sustainable long-term financial gains and high rental income.Related: How To Obtain Residency Visa When Investing In Dubai’s Property Market
Experts ensure your interests take the front seat
Moreover, the advantages of using a real estate broking agency are numerous like awareness of the previous and current supply and demand scenario in a given micro market, full support wrt site or project inspections, detailed property inspection material and project brochures for perusal and future references, scoops on promotions being offered with select developers, negotiating prices keeping buyer interest in mind, easy introductions to legal advisors for documentation, loan managers for securing best of finances and interest rates if necessary, end to end management of the sale transaction process and liaising on your behalf till possession.
Experts with in-depth locality knowledge deliver better deals
Like the say, a stitch in time saves nine. So once you have a fair idea on what you are looking for find out more about local and regional property consulting firms or otherwise called as broking firms, real estate agencies who are strong in the micro market(s) of your interest. Use search engines like Google to search for ‘real estate agencies in Dubai’ Research their experience, previous transaction history, clients list and testimonials, associations and developer network. It is important that both the real estate agency (and the agent you work with) and the developer are registered with Dubai’s Real Estate Regulatory Authority (RERA). You should be able to get this information using the internet for established ones and the full list on RERA’s website. Also have a one on one discussion with the short listed few to understand their knowledge on the locality of your interest. You should then be able to arrive at the one you would want to work with. Be sure to clarify on their services, terms and conditions, applicable fees and payment schedule which is usually on successful completion of the transaction.