Buy an Apartments in Dubai building – your idea has manifested itself and your dream of a house is becoming a reality. You have already looked at some properties, compared prices, and set your budget for buying a home. Before you go into closer negotiations with sellers or reserve a property, you should plan the home financing and determine your conditions. The more professional you proceed and the more specifically you plan, the easier it is to buy a house, from the idea to financing and notarial certification for the conclusion of a contract. Then everything is ready for renting out the apartment building. Learn everything here, from valuation to renting out apartment buildings.
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Buying real estate, multi-family house: capital investment & return
From your own home to an Apartments in Dubai building as an investment, anyone who is thinking about buying a property wants to make provisions for old age. No other financial investment has such a high level of stability over the long term as real estate. No matter whether 10 years in the past, 100 years or 1000 years, we always get used to it!
Valuation of the property
A valuation of property or land is necessary for various reasons.
In most cases, a valuation will be requested when the property is for sale. The need for a foreclosure sale or real estate valuation after a divorce is also very common. Sometimes owners just want to know what their assets are, or a property valuation is carried out because the house has to be demolished by order of the authorities. This is the case when roads are to be built or new residential areas are to be developed. In the mining regions, entire villages are sometimes relocated. A real estate appraisal is indispensable here, as the owner is entitled to a comprehensive value adjustment.
The assessment can be done in a number of ways. Most effective is the valuation by a professional who inspects the property on-site. Alternatively, there is the option of entering the value of the property on the Internet or using comparable properties to determine an approximate value. If you decide to have the property value determined by an expert, choose the most expensive option. At the same time, however, you get a very objective evaluation that in many cases comes very close to the actual purchase price. All other ratings are based on estimates
Real estate companies in Dubai valuation criteria
Many different factors go into a realistic property valuation. These essentially include the equipment and the structure of the house and Apartments in Dubai, but also the location, size, and equipment of the property. There are value-increasing and value-reducing elements. At the end of the subjective evaluation, there is a monetary value that can form the basis for the purchase price.
Not only the location and equipment of the house but also the real estate market is important for the value of the house. A modern house in the country or in a structurally weak region with energy-efficient heating can have less value than a property in need of renovation in Frankfurt am Main. For this reason, not only the location but also the region in which the house is located is included in the ratings.
Valuation of real estate: demolition, new construction & Co.
The valuation of a house is more complex than that of an apartment or Real estate companies in Dubai. Houses that are sold as demolition objects are an exception. Since the demolition is an investment that has to be borne by the buyer of the property, only the property is included in the appraisal. However, its value is not reduced by the cost of demolishing the house. The buyer must include these costs in his calculation himself if he decides to purchase such a property.
Tip for future real estate investors!
You will constantly need and hear two things: the rental return, or more precisely the gross rental return and the purchase price factor. Both help to quickly evaluate real estate offers. Learn more about the difference here and get to know my recommendation for you as a real estate novice:
Need for renovation and planned use
If you would like to make such an investment, there are many questions to be clarified in advance. Know how you intend to use the property. Find out whether there is a need for renovation.
Contact the city or municipality to find out about specific requirements. If you are interested in properties that are already rented out, you can find out about the tenants and the rent amount.
These are important criteria that you can use to prepare yourself well for buying an apartment building. A strong partner who is at your side in an advisory capacity is particularly helpful if you have had little experience to date. Real estate companies in Dubai will be happy to assist you.