The WoW Style

Blog For Ultimate Style Collection

Everything You Need to Know About Buying the House on Your Own

When you decide to buy a house or any other property, you have two options. The first one is to find a realtor who will help you find and buy property desired. The second option is doing the same things without a realtor. 

This choice is twice as important when you make a decision to buy property in UAE, or just abroad. Today we will look at pros and cons of hiring a realtor, and will answer a question whether you need a realtor or not to buy property in Dubai.

How to Choose a House

UAE is different from the USA and European countries in both laws and culture. As the result, there are some restrictions you need to take into account, such as:  

  • Ownership. There are several types of ownership for foreigners in the UAE. The two most common are freehold and leasehold. The main differences between them are the period of ownership and usage of land. If you gain a leasehold, you can own a house in Dubai for 99 years, and no more. Also, you won’t have an ability to use the land your property is built on. Freehold ownership doesn’t have such restrictions, but it has location restrictions.
  • Location. This point is strongly connected with the previous one. As a foreigner, you can’t buy property anywhere you wish. Depending on your ownership type, you can buy a house in designed locations or districts of a city. 
  • Type of a house. When you understand where you want to live, think about the type of house you would like to own. Is it an apartment or penthouse, or maybe a villa with the sea shore nearby? There are a lot of  houses for sale in Dubai, so you will find a house you desire with no problem.

Pros and Cons of Buying a House with Help of a Realtor

Hiring a realtor is an important decision which has its own advantages and disadvantages. Let’s take a look at some of them here:

Pros Cons
Realtor doesn’t make emotional decisions You need to pay commissions
Realtor finds a property according to your requests Realtor operates as a “middle-man” 
Realtor has access to real estate networks You depend on realtor’s timetable
Realtor is an experienced negotiator You depend on the contract you’ve signed no matter what
Realtor can take care of legal issues You are just one of the realtor’s clients

Pros and Cons of Buying a House on Your Own

Buying a house on your own also has its own pros and cons, which you should take into account. Here you can see some of them:

Pros: you can look for the property you need. Also, you can be sure that no one is robbing you. There will be no “middle-man” between you and the seller.  

Cons: you must negotiate with sellers on your own. Also you will have to go through all legal issues and prepare all required documents to complete a contract with a seller. You will not have a big list of properties available for sale, especially if you want to make a purchase in another country. 

There can be a case when you don’t hire a realtor, but you can’t take care of all issues. If this is your case, make sure to contact Metropolitan Premium Properties. Its experts will help you buy real estate Dubai’s market can offer. 

Metropolitan Premium Properties is not just another property company. It is a premium real estate company Dubai’s property sellers and banks work with for years. Metropolitan’s experts will take all your requests into account and find the best deal possible, as if they were buying a house for themselves. So, make sure to contact specialists when you require help to buy property, especially abroad.   

The Comparison of Buying the House with Help and Without of Realtor 

According to Forbes, there is a significant difference between buying the house with the help of a realtor and without it. It depends on different factors or issues which surround you. Let’s look through some factors and affect it may have on your decision.

An issue With realtor’s help Without realtor’s help
You know the seller of a house No need for realtor’s help You can negotiate with the seller by yourself and contact a lawyer to solve all legal issues
You have a defined budget Realtor can find a house according to your budget needs You won’t have an access to all property selling networks, which makes it hard for you to find a house according to your budget needs
You have no idea how to sign contracts and other documents Realtor will operate as a “middle-man” during the negotiations and help you sign all documents correctly You can contact a lawyer to look through your case, but better study the legislation of a country you buy a house in
You are well aware of an area you buy property in and its laws No need for realtor’s help, but you should contact a lawyer to complete all documents correctly You can negotiate with a “middle-man”, and sign all documents without extra help

Everything You Need to Know Buying a House

Now, let’s go through the main points and issues you need to know about buying a house on your own in the UAE:

  • There are ownership and location restrictions for foreigners;
  • Some types of houses are available only in specific areas;
  • UAE’s legislation is different from other countries. So, check it to know what you can or can’t do there;
  • You may be robbed. Property market is full of scammers.

If you feel that you need help to buy property in the UAE, contact Metropolitan Premium Properties’ specialists who can help you solve all kinds of problems, not only legal ones.