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The property resale market in Dubai is always at its peak because of the never-ending demand. Whether you have a newly built apartment building or villa complex in hand, you have to know how and when to make the best deal.
The strategy for handling ready-to-sell properties is different from that of under-construction units. The resale value of a property depends on many factors, from the age of the building to the quality of maintenance, to the facilities and amenities available.
• Resale value – Consider the future of the resale market before you finalise the resale value of your property. This will make your investment safe. Get the help of professionals to know more about the different factors that affect a property’s value.
• Location – Before you buy a property for resale, look at it through the eyes of a future buyer. Choose a good location, consider the property’s proximity to important areas and check the area’s landmarks that can attract potential buyers.
• Landscape – First impression is the best impression. Be sure to attract buyers with a well-maintained garden. Either buy villas that are already landscaped, or put in extra money to improve your properties’ look and can bring you back double of what you spent.
• Bedrooms – Buying apartments or villas with more than two bedrooms will be a good decision because one-bedrooms generally go for rental. Also, focus on the target market. A three-bedroom unit near a school will move faster than a unit in a far-off area.
• Cost – Consider maintenance, repair and remodeling. This will help you “play” while staying within your budget. And beware or be aware of hidden charges that you may face during a transaction.
• Storage space – People always look for homes with enough or more storage facilities. When there are many competitors in the resale field, buying a home with good storage like a walk-in-closet can ensure a good deal for your property.
• Amenities – Never compromise on the availability of a covered parking. A swimming pool and a well-maintained garden also increase a home’s resale value. Natural light and open spaces are added advantages. Make sure the A/C and fire safety systems are perfect.
Make resale a good deal by making wise decisions.
• Buying properties for resale demands proper and careful market research
• Don’t forget to consider hidden purchase costs before making a final deal
• Ensure that you will be able to satisfy the various needs of your target market
Source: Asha Das, Special to Properties
The writer is a freelancer