Frequently Asked Questions
Question about selling
Yes, the physical structure of a home will naturally depreciate due to age, wear and tear, and outdated features.
However, the value of the land a home is on usually appreciates, and this appreciation often outweighs the depreciation of the building itself. This is why a property’s overall market value can increase over time, even as the physical structure loses some of its original value.
Both offer different kinds of value. An older home’s value often lies in its character, location, and larger lot, but it may require more maintenance and costly repairs.
A new home’s value lies in its low maintenance, energy efficiency, and modern design, but it typically comes with a higher initial price. The “better” value depends entirely on your budget, priorities, and tolerance for potential repairs.
A broker is an individual or firm that acts as a middleman or intermediary to facilitate a transaction between a buyer and a seller. The broker’s primary role is to bring these two parties together and ensure the transaction is completed smoothly and efficiently.
Brokers exist in many different industries, and their specific roles can vary, but their core function remains the same: they provide expertise, market access, and negotiation skills to their clients.
Common Types of Brokers
Real Estate Broker: Facilitates the sale or purchase of property. A real estate broker has a higher level of licensing than a real estate agent and can operate a brokerage firm, employing other agents.
Stockbroker: Buys and sells stocks, bonds, and other financial securities on behalf of clients. They provide advice on investment strategies and market trends.
Mortgage Broker: Acts as a go-between for a borrower and a lender. They help individuals find the best mortgage rates and terms, and they handle the application process.
Insurance Broker: Works with clients to find the right insurance policy for their needs by comparing offers from multiple insurance companies.
Yes, in many cases, you can choose to pay your own property taxes and insurance directly rather than through an escrow account. However, whether you have this option depends on your mortgage lender and your loan type.
The entire mortgage loan process, from your initial application to the day you get the keys, typically takes between 30 to 60 days. However, this timeline can be significantly shorter or longer depending on various factors.
Question about renting
In the UAE, the standard and most common duration for a residential tenancy contract is one year.
While a one-year term is the industry norm, it is legally possible to have a contract for a different duration, provided both the tenant and the landlord agree to the terms.
Standard Term: A one-year contract is the most typical and widely used for residential properties. This term is recognized and legally registered through systems like Ejari in Dubai.
Shorter Term: Contracts can be for a shorter period (e.g., 3 or 6 months), but this is less common for long-term rentals and is usually reserved for serviced apartments or short-term holiday homes.
The “best” location to rent a home in the UAE depends on your priorities and budget.
For Affordability: Consider living in Sharjah or Ajman for lower rent, or more distant areas of Dubai like International City and Dubai Silicon Oasis.
For Family-Friendly Living: Arabian Ranches, The Springs, and Jumeirah Village Circle in Dubai offer a quiet, community-focused lifestyle. In Abu Dhabi, Khalifa City is a popular choice for families.
For a Vibrant City Lifestyle: Downtown Dubai, Dubai Marina, and Jumeirah Lakes Towers are ideal for those who want to be in the heart of the city with easy access to amenities and entertainment. In Abu Dhabi, Al Reem Island and Al Maryah Island offer a similar experience.
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