The off-plan market is taking a step backward to allow home buyers to explore the secondary market in Dubai. The city is showing a trend in buying behaviours that sellers need to watch out for before taking the ultimate step.
If you have been watching the Dubai property market, you will notice that it can be affected and influenced by almost anything. Even a slight event can affect the prices, the buyer and other elements of the market. In 2020, the city is expected to host the World Expo where millions of people from around the world will attend to share ideas and innovations.
An event of this magnitude will have long-lasting effects on the city such as stimulating knowledge and will also attract big businesses from across the globe. Currently, a huge amount of money is being invested in the preparation of the expo. This will significantly impact the real estate market where property prices are expected to rise making it the ripe moment to sell your house in Dubai.
Most people sell their houses to buy another one. At the moment, there are many houses for sale in Arabian Ranches and Dubai Hills Estate which will leave you spoilt for choice. You can also check Palm Jumeirah villa prices or Mudon prices.
Here are the key indicators that help you determine the right time to sell:
Personal finance is one of the main reasons why most people sell their houses. If you have occupied your current home for several years, it can offer you enough equity to use as a down payment on another new home or handle other expenses. However, you should not always rely on financial circumstances as the reason for selling your house. For instance, if your debts are more than your home is worth, you may want to avoid losing money.
2. Life changes
No one can plan for life changes. Some things may arise and might even require you to sell your house quickly. Some of the circumstances may include a new job, special medical condition, school, etc. However, it can be difficult to sell a property on a short timeline. Nevertheless, you can consider selling it at a lower price in exchange for not making the repairs.
3. Upgrading or downsizing
Sometimes a home can seize to suit your needs or lifestyle. For instance, the family may outgrow the number of rooms, the pet requires a larger yard or you need extra space to put up an office. The decision to upgrade may not be spontaneous and may require time to consider carefully before you take a plunge. Does the closet in your current home overflow? Is your kitchen cramped? These are some of the reasons for an upgrade.
Others may like to downsize their lifestyles. Do you have extra spaces you do not or rarely use? You may want to downsize to reduce clutter and save on money and maintenance work.