Common Mistakes Investors Make While Buying Opulent Property in Dubai

Purchasing an upscale property can get you good ROI but many times investors do not get the best of deals for some mistakes they commit. Here are some common but avoidable mistakes buyers should be careful of while buying high-end properties in order to get the maximum out of their investment.

1. Not Bothering About the Structural Surveys: Many times buyers are interested only in the outward appearance of a house and they never ask for the structural survey. Many investors buying the ‘existing properties’ do not bother to have the condition and the structural surveys done or go through the ‘maintenance records. This could mean trouble for the buyer in the future.
2. Not Considering the Additional Charges: Many buyers consider the ‘selling price’ of the property only and ignore the extra charges that he has to pay by monthly bills. Before investing in the property, the buyer should have an idea about the service charges and know how it is included in the property. For instance, if a buyer is considering the elite residence 6 sports city for sale, around the Els Golf Club area, he could be happy to find a lucrative property at a cost-effective price for being away from the main landmarks. But, at the same time, he should not be carried away by the selling price alone and check if there are any extra service charges he needs to pay. 
3. Not Checking the Seller’s Credentials: Before purchasing a swanky property it is essential to check the authenticity of the owner. Many times property buyers have been hoodwinked by believing that the rightful owner was selling them the property when in reality it was not so. In addition to checking the seller’s credibility, the buyer should ensure that the luxurious property he is interested to buy is registered properly with ‘Government Housing Agent.’
4. Not Being Careful While Investing in an Off-Plan Project: Buyers should know the reason for investing in an ‘off-plan’ property. They should be clear that the property they are investing in, is for capital appreciation or rental investment.
5. Overspending on Refurbishing: After purchasing a property many owners spend exorbitantly on its interior decor. This definitely does not add to a property’s value but satisfies the owner’s expectations. If a buyer wishes to sell off the property in the near future, spending too much money on its refurbishing can prove to be a huge wastage. An apartment with opulent interior decor would demand a high selling price and the seller may not get adequate buyers for the same. Hence, ultimately the property would not fetch him good returns. For example, if a buyer is planning to invest in the Elite10 sports residence, he should be clear whether he wants to buy for staying or for rental investment. If he ultimately rents it out there is no point investing too much in the interior designing.

Elite sports City

If buyers take into account the above-mentioned factors while buying luxury properties in Dubai like the Elite Business Bay or other upscale sports properties, they can make a wise investment and reap the benefits in the long-run. Wish to know more about? Contact us at +97142452300 or write us mail at info@elitecity.ae