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When buying a property abroad many people forget about the most obvious and
relevant point of all:
What do you want the property to do for you?
This simple factor could determine the country and the area you buy in to.
Are you looking for a short term property investment? Are you looking for a
long term regular income? Or like most people are you simply interested in a
holiday home for you and the family?
There are two types of property abroad you can buy. Off-plan and
Resale Property. Off-plan means buying a property abroad before it is built. A
resale property is simply buying a completed property abroad from a third party.
Both options have their advantages and disadvantages.
Buying an off-plan property in UAE can reap some fantastic profits.
In Dubai there are no taxes which make Dubai a very attractive investment property
opportunity. If you assume 10-12% as being the maximum abroad then you should
receive some change every time.
If you are buying a property abroad to emigrate then you must check
out the infrastructure i.e. Hospitals, education etc.
This is why Dubai always ends up being number one in our opinion because the infrastructure is leaps and
bounds ahead of many of the developing countries. You may pay more to begin with
but you receive far more for your money long term.
If you want to buy a property abroad for investment and rental purposes then think about what appeals to the
majority.
Is it close to an airport? Is it close to the beach or local
amenities? Is there sufficient transport nearby? Are you able to rent the
property all year round?
If you are looking for a rental income from your
property in Dubai then do spend time finding a good agent. We at Good Deal can
give you advice on this subject. If you can afford to do so then buy a cheap
good looking vehicle which could add extra value to the property both on rental
and resale. Always try to buy a property that appears to be spacious. The inside
color makes a big difference which is something you can change yourself. Never
buy a property that doesn't have a view of some form or another. The view can
compensate for the lack of space inside.
Always check the surrounding areas for potential building projects as the last thing you want to do is come back 12
months later and find the field next door is a construction site. The chances
are your tastes are not that much different to other peoples so although you
have to be vigilant at all times don’t forget the basic rule. If you like it
then you can be sure that others will also. So buy a property that you like
would fall into place quite nicely.
Good Deal can really help you make all these decisions.
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