As a new buyer, you surely do not want to inherit expenses over and beyond what you might already have. From expensive repairs to constant traffic noise, here are the top price scares that buyers should look out for before signing the contract.
- Consider repair and maintenance costs
Make sure you conduct a thorough inspection. Look out for bumps and bruises in the apartment or the house you’re looking to buy; don’t let those gorgeous views and that sparkling pool fool you. Check if there are enough outlets for the accent lighting that you may have in mind. Examine the plumbing and cooling systems and factor as well as the costs of running or replacing them.
- Walk the neighbourhood
While you might feel wonderful about finding your dream pad, this feeling is not likely to last if your neighbours are disrespectful or the amenities are sparse. Walk around and check for restaurants, cafés, stores, groceries, parks, schools, cinemas and walkways in the vicinity before fully committing to a property.
- Check for traffic noise
Even if you’re willing to overlook it, other buyers may not be; excessive traffic noise constitutes a potential deal killer when you’re looking to sell the property at some point. Dubai’s infamous stories of traffic congestion and seemingly never-ending construction work make this point an important one to consider beforehand.
- Calculate commuting costs
Surely living amidst cobbled pathways and scenic waterways is great, but if it’s going to take you hours to reach your workplace, is the ambiance really worth it? Don’t forget the fuel your car will be guzzling and the costs therewith! Try driving to your office during rush hour so that you can accurately gauge the commute time.
- Watch out for water leaks
Leaking water fixtures can cause significant expenses. Check the condition of the water pipes and whether or not you might need a maintenance technician to detect damages. You don’t want to be stuck with thousands of dirhams to repair leaks that will consume gallons of water each day and give you a huge water bill at the end of each month.
- Inspect all the documents
Read all the documents, such as the financials and all the rest agreements and ask questions if there is something you do not fully understand. If you’re buying a condo in a community, find out if the project has enough money to pay for needed repairs and enhancements so that your investment can benefit from added value and salability.
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