Ten Resolutions for Home Buyers and Sellers
New Years are always welcoming, festive and a great time to celebrate with your closest friends and family. It’s also a time to reflect over the last year and to set goals for the new one to take steps forward professionally, personally or both! Unsurprisingly enough however, a New Year resolution is something most of us form, but only few stick to for over a month.
Every year in January, we purposefully resolve to lose weight, quit smoking or to get a new job. Yet, however sincere our intentions, nothing makes them stick. Blame the merrymaking blues or the fabulous weather in the UAE, the bbq’s and the camping, the shopping and street food festivals- resolutions just don’t go the distance!
However, the good news is that we’ve only just lifted off the 2017 launch pad! The year is still young and there is plenty of time to achieve your goals. If buying or selling a house is one of them, here are some tips to help you with you persist with your New Year resolution a little longer.
If you are a home buyer:
1. Get your Finances Right
If you haven’t started yet, this is the time for you to start saving. Buying a home requires cash for down payment, good credit scores, loan fees, etc. Make sure you are paying bills on time, clearing off your dues, boosting low credit scores and saving a good amount of cash.
2. Do the Paperwork
Keep documents like salary certificates, bank account statements for three to six months, visa copy, and marriage certificates handy.
3. Research Mortgage Options
Mortgage options are quite flexible in Dubai. There is no property purchase tax and approvals come easy. Learn about the best options available in the market by talking to bank representatives who will tell you if you are eligible and also give you an idea about the best interest rates.
4. Get Pre-Approvals
Attaining pre approvals from your bank is the most essential criteria for buying a home. It will help you avoid rejections during the process.
5. Work with Professionals
A good property consultant can make your home buying process simpler and faster.
If you think you have found a good consultant who understands your needs, listen to his recommendations.
If you are a home seller:
1. Treat your home like an investment
Homes hold a lot of sentimental value, especially if you’ve spent a long period of time in it creating treasured memories. It might be difficult to see it as a product and do the entire math around it. It is important detach yourself emotionally from the home for a while so that it doesn’t interfere with the process of selling.
2. Get a home inspection
It’s always best to know beforehand what the pros and cons of the home you are willing to sell are and what might be an obstacle or disadvantage while selling. A certified home inspecting agency or specialized consultants can guide you through this process.
3. Advertise to the right people
Home searches always begin online. Make sure your ads are visible in the right platforms. Nowadays mobile and online marketing are the best way to reach your customers. Make the most of it.
4. Educate yourself with the latest real estate trends
Dubai has a dynamic real estate landscape and the ever-changing rules and regulations might be overwhelming for both buyers and sellers. It is imperative stay up to date with regional real estate trends, property pricings and other dos and don’ts as a home seller.
5. Create a good first impression
Always keep your home presentable and appealing for home searchers. De-clutter, deep clean, depersonalize and accentuate the best corners of your home. The buyer will tour through your home expecting it to be like you had advertised online. Make it live up to their expectations.