What all to consider before buying an apartment in dubai / ajman ?
What all to consider before buying an apartment in dubai / ajman ?
Investing in dubai's real estate / apartment / property is the most lucrative option available not only to the middle east, but to the world. Any one can invest on these free zone / freehold / long term leasehold. The property appreciation % is more when compared to India or any other place. I am only concerned about the apartments, so let me give you an understanding of the same.
Things to consider before investing is UAE/Dubai are its economy, politics, climate. Already Dubai has more properties to-let, so yours should not be an add on. If you are going to buy and stay, It will help you reduce on your monthly house rent nightmare and you could save more. Most freehold does not offer you to rent it out, or they will ask you to stay at least 1 week every 6 months. So, better check this clause. You can do nothing about it. Dubai laws are Dubai laws. More federal (non-democratic). If you need to buy and apartment you need to pay around 25% of the total cost as down payment. The rest 75% of the cost should be paid in the next 6 years (Some say after you occupy the apartment). Free residence visa for your family, but under this visa your family members can not work or operate any business !
I got some inputs from my friend Vijay, please check this document which has 1) Checklist for Dubai Considerations 2) Vasthu 3) Loan Thoughts & 4) Amortization schedule / calculator
Click here to download the spreadsheet
If you have any doubts, do let me know.
1st FAQ : Do you have any plans to buy muthu ? Well, I need 25% of the money for the initial payment, Can you help :) he he - If i buy, I will update this entry. Ajman is cheap, I dont want to spend my time on traffic commuting to Dubai.
Things to consider before investing is UAE/Dubai are its economy, politics, climate. Already Dubai has more properties to-let, so yours should not be an add on. If you are going to buy and stay, It will help you reduce on your monthly house rent nightmare and you could save more. Most freehold does not offer you to rent it out, or they will ask you to stay at least 1 week every 6 months. So, better check this clause. You can do nothing about it. Dubai laws are Dubai laws. More federal (non-democratic). If you need to buy and apartment you need to pay around 25% of the total cost as down payment. The rest 75% of the cost should be paid in the next 6 years (Some say after you occupy the apartment). Free residence visa for your family, but under this visa your family members can not work or operate any business !
I got some inputs from my friend Vijay, please check this document which has 1) Checklist for Dubai Considerations 2) Vasthu 3) Loan Thoughts & 4) Amortization schedule / calculator
Click here to download the spreadsheet
If you have any doubts, do let me know.
1st FAQ : Do you have any plans to buy muthu ? Well, I need 25% of the money for the initial payment, Can you help :) he he - If i buy, I will update this entry. Ajman is cheap, I dont want to spend my time on traffic commuting to Dubai.
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