Apart from many things to consider while moving to Dubai, one of the most import aspect that you can’t ignore is where and how you are going to live in Dubai? There are plenty of options in terms of area/ community e.g. Dubai Marina, JLT, JBR, Palm Jumeirah, Down Town Dubai and list goes on.
Per say, let’s assume the destination that you have chosen for yourself is Dubai Marina. Now that we are done with area selection, it’s time to move to the most crucial part which is how to choose apartment in Dubai. While this is one of the well sorted out communities in Dubai, the largest man made marina, and a wonder itself, what is it that you really need to do in order to find the right apartment for yourself/ your family?
We decided to take the challenge and make it easy for you to choose apartment in Dubai. There are only a handful of things to be considered and soon you will have the house of your dreams in Dubai Marina.
The first thing that you want to in order to choose apartment in Dubai do is to hire a reputed real estate agent/ broker who will represent you and help you find and choose the right apartment in Dubai Marina. Don’t just hire any real estate agent, ask for referrals from your friends, colleagues or family members. You can also search on the internet to find agents working in Dubai Marina.
Now, the most important thing to do is to stick with just one agent. Many home hunters make the mistake to appoint as many estate agents as possible and become disappointed and exhausted when all those brokers keep coming back with same property to offer.
Let your agent do the home hunting while you only analyze the options he/ she brings to you.
2) Financial Analysis
Buying/ selling a property in Dubai or any other part of the world is a financial transaction. While many buyers feel emotional and sentimental while buying a home, this is the feeling you need to avoid. Remember, there are no emotions involved when it comes to financial analysis of a property and breaking down the big pie into smaller pieces for easy digestion.
You need to be very thorough and objective oriented while analyzing an apartment in Dubai Marina from financial point of view. Keep in mind, this is one of the most expensive area in Dubai in terms of buying a property. Your best option is to consider as many apartments as possible in Dubai Marina and then make your final decision.
Per Sq. Ft. Price
The norm in Dubai’s real estate market for pricing is to quote the price in per sq. ft. terms. Most of the sellers will tell you total area of their property and sq. ft. price for which they are interested to sell. Write down the information while viewing the property to discuss it later with your agent. You must check the quoted price with current market trend and especially with the building where that property is situated.
While becoming a homeowner in Dubai will take you away from the hassle of paying the rent, it comes with certain liabilities such as service charges. In Dubai, it is mandatory for any building to have an Owners Association that appoints an Association Management company which further hires a Facilities Management Company for maintenance of the building. If your plan is to rent your Dubai apartment for rental income, still the service charges have to be paid from your pocket as tenant will only be entitled to pay the rent and chiller fee (if any).
These service charges have a direct impact on overall rental ROI of your apartment in Dubai Marina or any other housing community in Dubai. When you go to view the property, don’t forget to ask about the service charges, write them down and discuss with your agent along with quoted price of the unit.
Any additional cost?
Normally, there is no additional cost associated with a property unless you want to do some renovation/ redesigning. You will have to pay utility charges like DEWA and Telecom Bill, once you become the rightful owner of the property and apply for a DEWA and Telephone connection. If you are being asked for any additional property charges in Dubai other than those in below list, you can lodge a complaint in Dubai Land Department.
- Agreed Property Price
- Property Registration Fee
- Agency Fee
- Service Charges
3) Property Features Analysis
You must have some personal preferences in mind or some specific features that should be present in your Dubai Marina apartment that you want to buy. It is important that you analyze the features of an apartment in detail and make a wise decision.
Height and View
It completely depends on you, whether you want to buy a unit that is on a higher floor or an apartment that is just a few elevator stops away. Ask yourself, what kind of views do you want to enjoy from your apartment window? Since you are buying an apartment in Dubai Marina, your first preference would be to have a clear Marina or Sea view. The biggest landmark in Dubai Marina is Cayan Tower, Princess Tower, Dubai Marina Mall, Dubai Marina Yacht Club, JBR Beach and The Marina Walk. As yourself what kind of view you want to have from your Dubai Marina apartment.
If you want to enjoy view of Marina along with Ocean/ Beach then an apartment at a higher floor will suit you best.
As a real estate agent in Dubai Marina, I have had all sorts of clients. Some don’t want to go through the hassle of buying new furniture and accessories for their new home and some want to build everything from scratch. You should tell your preference at very early point to your agent so that he only searches for those apartments that meet your requirements.
Facilities in building
Perhaps a very important point to consider but not to sweat for because you are buying apartment in Dubai Marina. This is a dream community in Dubai and of course, every building has state of the art facilities like high speed elevators, 24 hour security, covered car parking, swimming pool, Jacuzzi, sauna, steam bath, and gym etc.
Distance from public transport
Most of the people living in Dubai Marina don’t normally use public transport but still you should consider a property that is in close proximity to public transport. There is a metro station that connects Dubai Marina with entire Dubai and a tram that only runs in Marina and JBR. This will be helpful in appreciation of your property’s value year after year.
4) Comparison and Making Final Decision
Now that you have collected all the important information related to different apartments that are available in Dubai Marina. It is time to sit down with your agent and go point to point with him while comparing all the available options. Your goal is to finalize and put an offer on an apartment that has a reasonable price, decent service charges, good building maintenance and views of your choice.
We hope above points will be helpful for you in your quest for how to choose apartment in Dubai. Don’t forget to share your thoughts in comments section below.