If you’re planning to move abroad, whether for a new job offer or a better lifestyle, there are important factors to take into consideration before you buy a property. Parting with your hard-earned cash shouldn’t be an impulsive decision that you could possibly end up regretting down the line. Instead, by following the four tips below, you can make a solid investment that will not only benefit you in the future, but save you money and make you happy.
Don’t Rush
When looking at properties in your new country of residence, it’s important to not let the excitement you feel take over rational thought. You want to avoid buying the first property you view in order to compare it to others that you are interested in. Start by looking in different areas you like, view different sized properties, as well as ones that are in different prices ranges. An easy way to view a variety of properties with ease, is to view properties from a range of different agents. By doing this you will get a broad idea of the market and see the property in person – which is vital because what you see on the internet might be too good to be true.
Choose your Location
Depending on your needs or where you are drawn to, it’s important to take factors such as how close it is to public transport, for example, into consideration when starting your search. If you have a family, you might consider an area outside of the hustle and bustle of town, and opt for a quieter neighbourhood with good schools. If you’re a single professional, you might want to consider staying in town, as it could be closer to your place of work. For couples, you could choose either option depending on your taste, what activities you are interested in, and your lifestyle preferences.
List your Must-Have Features
Must-have features, or amenities, refer to what’s important for your day-to-day life, including being close to a hospital, shops or schools. As well as not-so-vital amenities, such as a swimming pool, a third room that can be turned into a home office, a built in BBQ area because you love to entertain, or being close enough to places that allow you to indulge in your hobbies. Taking all of these points into consideration will ensure that you choose the right property that includes all of the amenities you want and need, helping you to settle in your new home that much faster.
Know the Legal Stuff
The legal details always take the joy out of everything, including house hunting. But, in order to keep yourself and your money safe, it’s important to know the legal facts around buying property in the country of your choice. Before you go ahead and make a purchase, appoint an independent lawyer and do not spare costs. An independent lawyer will help you navigate tax duties, local taxes, solicitor fees, mortgages, and more, ensuring every step of the buying process is done correctly. Other things to consider include having your contract document translated into English so you can understand it thoroughly yourself and doing research into whether or not you need a work visa or residency permits.
Investing in property anywhere in the world, is a huge decision that should not be taken lightly. Purchasing the property of your choice should involve a process in which you make 100% sure you are happy with everything about the property in order to avoid regret later on. The above four tips aim to help you start and complete your own property buying process successfully. Find out more about acquiring the property of your dreams in Dubai here.
