6 Mistakes You Should not Make When Buying Under-Construction Luxury Real Estate for Sale in Dubai

1. 6 Mistakes You Should not Make When Buying Under-Construction Luxury Real Estate for Sale in Dubai Buying the first luxury real estate in Dubai is the dream of many people. While some resort to loans, others prefer to save money for a certain time to buy luxury real estate for sale in Dubai. Finally, there is also the option of buying under construction real estate through the financing of the builders. Want to know when you should keep an eye on buying under construction luxury real estate for sale in Dubai? Check below the 6 main mistakes that should never be made in this process! 1. Unaware of the history of the construction company Well, know that you are at great risk of being at a loss, or worse, without real estate: the real estate market is full of unrecognized builders. The nuisances can be numerous: properties that are not delivered; properties that take years to complete; employment of lower quality materials in construction leading to cracks and so many other structural problems. 2. Do not visit the terrain Visiting the land is a basic premise for those who want to buy under construction real estate. Check in which neighborhood the building will be built, average value of IPTU, security,

2. proximity to pharmacies, supermarkets and hospitals, risk of flooding, liquidity of neighborhood properties, among many other points. Think that when buying under construction luxury real estate for sale in Dubai, you need to be accustomed to the place, or your experience of residing on the property can be very unpleasant. 3. Make a reservation or give a signal by impulse If you have not followed the previous two steps and have already want to reserve your future property or even give an entry to start the buying process, know that there are great chances of being on impulse. There are many ways to guard against this type of deception and you should not, under any circumstances, believe that your future property is the one that is drawn under construction. 4. Disregard rates, taxes and inflation when buying under construction real estate These are issues that weigh heavily in the pocket of those who are acquiring an under construction property. Therefore, one must be aware of how you will use your money, in addition to checking all clauses of the contract so that the builder does not unduly cover interest or other types of taxes. So be aware of all the expenses you'll have to pay when you buy under construction real estate. 5. Do not check the regularity of the construction Generally, builders carry out financing to raise a building. This means that the properties end up being the guarantee given by the company to the bank. However, if the builder does not honor with their obligations, the bank may foreclose the property. And either by mistake or ignorance, many people do not seek to know the situation of the construction company in front of the bank, whether it is paying benefits on time or if there is default. 6. Do not keep contracts and other documents of the agreement Unfortunately, as in any area, there are real estate developers who, in the name of profit, make exorbitant promises to consumers who end up blindly believing what is presented. Therefore, it is imperative to check the clauses of the contract and even rely on the help of a lawyer to assess whether what is written has some legal validity and can be fulfilled.