The award-winning Abu Dhabi is all set to entice both the expats and the locals easily. The urban structures will help you to relax your mind and soul on those sandy beaches. You get the opportunity to bask yourself in the brands you have always dreamt of owning. With all the historic neighborhoods all around, life in Abu Dhabi is really fascinating, to say the least.
Once you have gotten experience in the field of rented housing, you might have some finances handy to help you procure a residential property now. But, before you walk through the entire process of purchasing a property in Abu Dhabi for sale, there are some unwanted surprises you need to avoid down the lane.
If you are one of those first-time buyers, then there are multiple thoughts going around your mind. But, there is one thing for sure! Abu Dhabi is one of the safest cities to reside in. It calls for extra legal protection for the buyers and some peace of mind. So, focusing on that point is really important now.
A guide to follow:
If this is your first time ever trying to procure a property in Abu Dhabi, then make sure to read till the end of this blog post to procure guidance. There are some step-by-step modules to follow.
Start by finalizing your budget:
Before you start your hunt for properties to rent in Abu Dhabi, it is recommended to finalize a budget plan. If you have a bank loan or mortgage by your side, then you need to be aware of the bank’s financial rules before purchasing a property.
- Even though the process is more or less similar to that of the Emirates, the transfer fees will be around 2% of the value of the property.
- But, before that, you need to be sure that your chosen bank is actually lending you money to purchase properties in Abu Dhabi.
Always search for the best property:
Once you have come across a few names across the internet, it is time to visit those places personally and get a vibe check done. Even after you are working with an agent, make sure to keep your eyes wide open.
- You better start looking for the neighborhoods with the properties because they are the ones you have to see once you move in.
- In case you are looking for comfort over luxury, then you can opt for the properties located on Hamdan Street, Al Reed Island, or in Al Ghadeer.
- But, if you are more into the field of luxury these days, then the properties located in the Corniche area, Saadiyat Island, or Yas Island will be some of the choices for you to make.
Now is the time to finalize your property:
Always remember that Abu Dhabi properties are quicker to vanish because there are so many buyers looking for the exact same apartment like you do. So, if you don’t want to miss out on the best property in Abu Dhabi for sale after some tiresome research, it is mandatory to finalize the property.
- Whenever you like a property, move forward and start to finalize the buying process.
- Remember to keep your senses open and read through the lines to learn about the property details before the final sign.
- Make sure to take time in inspecting the neighborhood as well. Remember that your chosen property needs to be easily accessible from your working environment.
- The chosen apartment needs to have the basic amenities so that you can start living your life from the Day 1 you moved in.
- Before you even finalize a property, it is highly recommended to visit the property multiple times and inspect the same.
- If you don’t have time to do that on your own, then hire specialists for the same. They will visit the spot more than once and will check for every detail. In the end, they will present you with a report to go through before making the final decision.
The payments and fees to follow:
Whether you have chosen a villa, townhouse, or apartment in Abu Dhabi, there are some universal costs attached to each one of these properties. Once you are through with the neighborhood and the budget plans, it is time to focus on the added fees. Some of those are:
- Commission fee
- Registration fee
- Mortgage arrangement fee
Remember to keep these points in mind as well, before you sign a memorandum of understanding. It will talk about all the details regarding the transaction costs, when the service is going to take place, and all the available added clauses. Make sure to contact a real estate counselor, if you are purchasing the property for the first time, for technical information.