With almost 200 islands lying within the coastline of Abu Dhabi and the endless blue skies, Abu Dhabi is a paradise on earth. Be it a safari adventure or the crystal clear beaches it has something to offer to everyone. The stupendous skyscrapers, architectural landmarks such as the Sheikh Zayed Grand Mosque, several parks and gardens are a delight to the visitor. If a visit to Abu Dhabi can give so much excitement for a tourist, imagine the happiness of a person who owns property there!!!
Considering the rental rates in Abu Dhabi which roughly costs around Dh50000 to Dh90000 on an annual basis for people who live there, buying a property would be a wise decision with lesser interest rates for a home loan. If you are on the lookout for buying a property in Abu Dhabi, you’re in the right place. But before buying, there are a few things that need to be considered. Also, check out the website fazwaz.ae to know more about some exciting and prominent investments there.
- A decision on the type of property would let you clearly decide the cost of the property. If you are buying it for the sake of investment in future or for rental returns, a commercial location with lots of workplaces would be an ideal choice. If the property is for your stay and for your family consider factors like proximity to workplace, schools and other facilities that are available nearby.
- Choose a broker who is reliable and check with the background of the broker to make sure that he gives you authentic information.
- Get to know the property laws and the types of Investments that are available. A buyer can consider owning property or leasing out for a longer period even as long as 99 years. Pick whatever fits your bill.
- Find out the facts related to the ownership of the document and make sure that you verify the documents of your purchase.
- Check the other kinds of fees that are applicable like the administrative fee to the developer, and the initial cost that you would have to pay and so on.
- Make sure that you sign the MOU, listing out all the terms and conditions from both the ends – the buyer and the property holder.
- Include the items that would be a part of the property like the built-in cupboards or the parking space etc., to relieve yourself of the hassle at a later point of time.
- Finally, there are also life insurance charges which the bank charges you for a loan and service charges for the developer which are paid on a pro rata basis.
When comparing the rental costs and the amount you would end up spending for your stay in Abu Dhabi, you will not regret the decision of owning a property in the capital of the emirate of Abu Dhabi. Considering the economic stability of the emirate, it would be one of the wise decisions you ever take!