Your Five New Year Property Resolutions
2018 is just around the corner and people are undoubtedly working on their new year’s resolutions – gym memberships will be bought, chocolates will be binned, tickets will be booked…! But what about when it comes to real estate? Here are Bayut.com’s property tips and recommendations for what you should resolve to do next year:
choose a good agent
A lot of the time, people tend to search for a property first and then meet an agent. However, whether you are renting or buying property, it’s important to build a good relationship with your agent so that you can get the most out of the transaction. Approach a reputed agency on Bayut.com that specializes in your desired area and let them do what they do best. Or, if you have a property in mind, work with one agent – shopping around for different agents is plain unethical and is unlikely to get you a better deal. What you really need to do is be clear and transparent regarding your needs, so that they can help you to the best of their abilities.
do your research
In today’s day and age, you really have no excuse for not being informed. Use property tools such as Bayut’s Price Index to determine whether or not your desired area is experiencing an upturn or dip in prices – to help you make your decision on whether to live/invest in that area. Bayut also regularly puts out market reports and helpful advice on various different property matters, so keep tuned in to MyBayut!
save up
This is finally the year that you can focus on saving money for that down payment! Make a budget and stick to it – there are so many finance-related apps out there to help you stay on track. It’s also the time to start looking into where you would like to purchase property and check out the different payment options available, including whether the developer has already struck a deal with a bank for preferential mortgage rates. Check out this recent article for some more tips on how to save money for a down payment.
get handy
A home is an investment like any other and it requires care. Fix the drawer that doesn’t quite close properly, fix that crack in the wall, tighten the leaky faucet. These are things that you may be used to but remember that potential buyers or tenants who view the property will see them as a way to haggle on the price. Or ignore your property altogether! Also make a promise to yourself to get your tank cleaned (if you live in a villa) and A/Cs serviced regularly. While air-conditioning may not be on anyone’s mind right now thanks to the weather outside, that doesn’t mean your unit doesn’t need some TLC!
go solar
Shams Dubai, a DEWA initiative, allows the city’s residents to transform their homes into solar powered ones. According to HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, “Shams Dubai allows customers to avoid using very expensive power storage systems by connecting the photovoltaic panels to the network. Furthermore, the surplus power will be exported to DEWA’s grid, which will be deducted from the customers’ future bill.” For more information on this initiative and how you can benefit from it, visit DEWA’s website.
We hope that these five real estate tips will help make your 2018 property transactions a success!
