7 Actions That Lead Property Buyers in Emaar Beachfront to Failure

The purchase of housing in a country with a stable economy and rapid pace of development is a great opportunity, isn’t it? However, it requires a serious approach and careful planning to make the deal work just the way you want it to. Real estate in Emaar Beachfront is an attractive target for investors from all over the world, but several mistakes can significantly affect the results of the purchase. In this article, we will look at the top 7 mistakes that may lead potential property buyers to failure.

1. Careless Attitude Towards Market Investigation

The first mistake Dubai property buyers make is not researching the real estate market and choosing the wrong option of housing in Emaar Beachfront. The real estate market in the neighborhood is very diverse and each property has its characteristics. Buyers should study the real estate market carefully and choose an object that suits their needs and desires. Some zones of the district may be too noisy or distant from the city center, which can affect the quality of life.

In the process of market investigation, it is recommended to move from its general characteristics to the current situation of the group of chosen objects. In such a way, a buyer can narrow down the range of accommodation and focus on the most appropriate housing units. 

Distinctive features of the real estate market to take into account are the next:

• Individuality of pricing.
• High level of transactional costs.
• The interaction between the primary and secondary markets.
• High dependence on prices, profitability, and risks from the state of the regional economy.
• Variety of risks.
• Low liquidity or high liquidity of the object in the market.
• Prospects of the neighborhood.

It does not mean that a buyer needs to explore each housing unit in Emaar Beachfront and know everything about the local real estate market. It would be great to become aware of at least some significant aspects. 

2. Cooperation With Illegal Realtors

The second mistake Dubai real estate buyers make is contacting illegal real estate agents. Illegal agents may offer properties with problems, such as not meeting legal requirements or having outstanding taxes and home maintenance debts. Buyers should only go to licensed real estate agents who have a good reputation and experience in the market.

3. Paying No Attention to Legal Clearance of the Housing Option

The third mistake buyers make in Emaar Beachfront is not checking the legal clearance of properties and buying properties with problems. Buyers should carefully check the property documents to make sure the property is legally clean and free of problems. Some properties may have tax and home maintenance arrears, which can be a serious problem for a buyer.

4. Taking Into Account Only Costs of the Property

The fourth mistake Dubai property buyers make is not taking into account additional costs such as agent commissions, taxes, and home maintenance. Buyers should carefully calculate all additional expenses to avoid unexpected costs in the future. Agent commissions can be as much as 2% of the property value, and taxes and home maintenance can be significant.

5. Relying on Fate

The fifth mistake buyers make in Dubai is buying a property without sufficient financial planning and consideration of possible risks. Buyers should carefully calculate their financial capabilities and make sure they are prepared for additional costs, such as home repairs and maintenance. In addition, buyers should consider potential risks, such as changes in the economic situation or changes in real estate prices.

6. Being Unknown of the Legislation of the UAE

The sixth mistake Dubai property buyers make is not considering the rules and laws when buying a property, which can lead to problems in the future. Buyers should thoroughly research the rules and legislation to make sure they comply. Some properties may have restrictions on sale or use that can be a problem for the buyer.

7. Not Conducting the Inspection of the Technical State of the Property

The seventh mistake buyers make in Dubai is not inspecting the property and not considering its condition and possible repairs, which can lead to additional costs in the future. Buyers should inspect the property and make sure of its condition and possible repairs. Some properties may require significant repair costs, which may affect a buyer’s financial ability.

Ways of Avoiding Unpleasant Issues in Property Purchase

To make a rational purchase and get only a positive experience of property ownership in Emaar Beachfront, buyers should follow the following advice.

• If you are buying an apartment or a villa in Emaar Beachfront for personal use, explore the neighborhood and identify whether it is suitable for your aims and lifestyle. 
• Contact only a professional real estate agent and buy real estate from a trusted developer. AX Capital is a reliable agency for cooperation and making the correct decisions. 
• Make sure that your goals, desires, and budget correlate with each other. 
• Do not rely on tempting advertisements. Some housing units may be extremely alluring for purchase. They may be inexpensive or perfectly designed but have certain hidden problems. Look for a suitable real estate that will satisfy your individual needs. 
• Read the contract from cover to cover and consult with the specialist before signing. 
• Be realistic about the profits and advantages. You invest in real estate that can bring huge money or become a financial burden, depending on the management. 

The Bottom Line

To build a successful career as a Dubai property investor or obtain a comfortable living place, be responsible and sagacious. Although the government of the UAE welcomes foreign buyers and makes the procedure of purchase as simple as possible, there is still a chance to take the wrong turn and lose your money. Do not rely completely on other people, keep track of the transaction, and be rather a conductor of a deal than its passive participant.