Easy steps to buying property

At Sherwoods International Property, we have over 25 years of experience helping buy-to-let investors and homeowners find the perfect property in markets such as the UAE, USA, and United Kingdom.

Established in 1988, we have seen the property market in Dubai rise in front of our eyes – quite literally! We know this market inside and out, and using our expert local knowledge along with our passion for helping people find the right residential or commercial property, we can help you realize your property dreams in what has fast become one of the most exciting cities in the world. 

 

OUR INVESTMENT ADVICE

If you’re looking for advice when it comes to investing in property in Dubai, consider these tips as a starting point:

 

Look back before looking forwadrs

If you have had any property dealings before, look back over them and consider both the positive and negative experiences (such as financing, the closing process, rental income generated, etc) and make a note of these. This will help you form a plan for a more positive buying experience this time around.

 

“Location, location, location”

Arguably the oldest real estate adage in the book,“location is everything” really is the truth. Dubai is a relatively new market, and so if you have not done so already, you should take time to visit to narrow down a few possible areas in which you would like to search for property. Some things you may wish to consider when deciding on a location for your property hunt:

• How close is the neighbourhood to your  place of work, and what will the commute  times be like?

• How effective/nearby is local public transit?

• Are there any schools in the area, and if so,  how are they rated?

• What is available in the way of local  amenities, entertainment, shopping and  overall infrastructure?

 

Speaking with your property investment adviser will help you narrow down the perfect locations to focus on.

 

TIMING IS EVERYTHING

Dates and timing can often be crucial when it comes to buying and selling property. When you find your ideal property, look at the terms around the timing, such as:

• When do you need to move by? Should the  sale completed faster than expected, are you  able to move sooner? Similarly, what are  your back-up options if the process takes  longer than envisaged?

• Is there leeway on the completion date or  the terms concerning this? Will a day or two  be allowed or will the other party be likely to  serve a Notice to Complete instantly?

• Have you enough funds in reserve to cover  the extra payments you would have to make,  including interest? Do not forget, this can  often be higher than the base rate. There  might be other costs to cover for the rest of  the chain, too.

 

By taking into consideration these and other factors regarding the timing of your property purchase, you can make sure you have ample funds to cover the sale along with any moving costs.

 

About Iseeb Rehman:

Sherwoods’ CEO Iseeb Rehman has real estate in his blood. Having established the company in London in the mid-1980s, Iseeb made the decision to relocate its headquarters to Dubai in 1988. As Dubai grew over the ensuing years so did Sherwoods, driven by Iseeb’s passion, approachability and knowledge and the blossoming market. 

 

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