Over the decades, Dubai, a melting pot of cultures, has emerged as a global residential and commercial hub and a major international tourist destination. With its ever-growing expat population, expanding business opportunities, and unparalleled infrastructure, Dubai has demonstrated in every way that the sky’s the limit. Buying property in Dubai is a significant decision requiring thorough planning. Therefore, here are some key things to consider before buying a house in Dubai:

Understand specific requirements
The first step to shortlisting a house in Dubai is to understand one’s requirements vis-a-vis various factors, including the number of inhabitants, budget limit, and proximity to one’s workplace, school, university, etc. Such factors can help determine the areas that balance satisfying one’s needs and falling within the budget range.

Determine an ideal location
The property price in Dubai depends significantly on its location within the city. For example, areas such as Dubai Sports City and Jumeirah Village are generally known for their relatively affordable housing rates. However, the size of the property also plays a role in determining its price. Thus, it is a good idea to compare property rates in different localities and earmark the affordable ones. One may then determine which of these locations suits one’s requirements the best and shortlist a final location accordingly.

Check foreign policy if applicable
Expats should check out the policies and terms about the ownership of property by foreign buyers before purchasing a house in Dubai. For example, expats can buy and own property in areas designated freehold in the city. Downtown Dubai, Business Bay, Discovery Gardens, Dubai Sports City, and Dubai Marina are some areas in Dubai that are classified as freehold. In addition, while some of these areas may allow expats to own only apartments, others may allow ownership of apartments and luxury villas. Moreover, today, foreign property ownership is also allowed in some non-freehold regions. Hence, it is essential to understand these policies and abide by property ownership laws while looking for a property for sale in Dubai.

Understand the objectives of buying property
While buying property or land in Dubai, buyers should consider whether they will be the end users or investors. In the case of the latter, it is essential to consider the expected ROI and the investment timeframe. Such considerations can help one decide on the type of property to purchase, its location, and whether to invest in an ongoing project or a ready-to-move home.

Plan finances adequately
One of the most crucial aspects of buying a home is to organize one’s finances. Besides figuring out the down payment amount and home loan requirements, one should research the expenses that may be incurred over and above the base property rate. For example, other types of property-related expenses, such as transfer fees, agency fees, mortgage arrangements, and insurance fees, may apply to the buyer. One must also be aware of the Dubai Land Department (DLD) registration fees, typically 4% of the property rate, and expenses are split equally between the buyer and seller or paid entirely by the buyer. Such additional charges should be considered while estimating the aggregate expenditure.