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10 Tips for a Stress-Free Move to Dubai as An Expat

10 Tips for a Stress-Free Move to Dubai as An Expat

High-net-worth individuals (HNWIs) and expatriates are drawn to the thriving metropolis of Dubai. It is not surprising that many people are considering moving here to pursue a better lifestyle given its contemporary infrastructure, tax-free income, and low cost of living when compared to other big cities with comparable living standards, such as New York, London, and Paris. For the second year in a row, TripAdvisor has ranked Dubai as one of the top travel destinations in the world for 2023; InterNations has ranked Dubai as the second best city in the world for expats for 2022; and most recently, comparethemarket.com.au has named Dubai one of the top cities in the world to relocate to. The metropolitan city offers a great wealth of career opportunities in business, finance, and other areas. It has one of the highest concentrations of international companies in the world, meaning it can be relatively easy to find a job in your field. Additionally, the city is home to some of the most renowned universities in the Arab region, providing those who wish to stay for longer periods with plenty of higher educational options.  In terms of lifestyle, Dubai boasts incredible diversity when it comes to cultural attractions and activities. From shopping malls and dining outlets to theme parks and beaches, there’s something for everyone here. Furthermore, the city’s mild climate allows for year-round outdoor activities such as watersports and horse riding – perfect for those looking for an escape from their hectic lifestyle back home.  Another major benefit of relocating to Dubai is its incredibly affordable yet high quality healthcare system. The government provides free health insurance for all expats who have lived in Dubai for more than six months. In addition, there are numerous private hospitals and clinics which provide excellent services at discounted prices compared to other countries around the world.  Finally, living costs are extremely manageable due to the city’s tax-free salaries and goods & services being priced competitively lower than many other places around the globe – especially considering its level of luxury and quality of life. 1. Plan the Details  One of the most important things you can do to make your relocation to Dubai as stress-free as possible is to plan ahead. Start researching the city and the country well in advance, so you have a good understanding of what to expect. This includes researching information about the residential visa requirement, local communities, transport options, job market, cost of living, and any other factors that may affect your decision-making process.  2. Create a Home Moving Checklist A great way to stay organized through the moving process is by creating a checklist of all the tasks that need to be completed before you move successfully from one place to another. Make sure you have all the necessary documents in order or any that you need acquire to become a Dubai resident. Your checklist may look like this: 3. Look Into Housing  Research various areas and their amenities before deciding where you want to live. This can include visiting the neighborhood, checking out rental prices and proximity to places such as the airport, supermarkets & malls. There are many different options available, from luxury apartment complexes to waterfront villas. Do some research to find the best option for you and your budget. Check out some of the popular property portals to find housing, such as Property Finder.   4. Familiarize Yourself with the Local Culture  Dubai is a melting pot of different cultures and religions, and it is important to learn about the culture and customs before you arrive. This includes researching about key cultural norms such as dress codes, appropriate etiquette and language dialects that might be spoken in certain areas. For example, avoid public displays of affection as it is frowned upon; avoid swearing or insulting someone as it can get you fined; do not eat or drink in public during the holy month of Ramadan, etc.  5. Manage Utilities Connections  Make sure you arrange for all necessary utilities like electricity, water, and internet services well ahead of time so that you don’t have to stress about them when you arrive at your new home. This can be done through DEWA (Department of Electricity & Water Authority) and internet service providers such as Etisalat and Du.  6. Consider Cost-Effective Shipping & Storage Options  If you decide to take some of your belongings with you, then you’ll need to look into cost effective shipping and storage options. Additionally, packing lightly can be a great stress reliever in the long run as it helps avoid having too many items to unpack and organize once you arrive at your new home. Remember, you will likely want to redecorate your interiors and wardrobe based on the lifestyle in Dubai.  7. Find Solutions for Your Pet(s)  If you have any furry family members, make sure to look into the necessary requirements for relocating them safely and in a stress-free manner. Generally, there is only hassle during the actual transportation of the pet from one country to another, such as on a plane or ship. However, this process should be fairly simple upon a little research, unless you’re planning on bringing your pet snake!  8. Be Open to Socializing  Relocating to a new city can be challenging, and it is important to be flexible and open-minded. Be prepared for things to be different from what you are used to and be willing to adapt to your new surroundings. Consider joining a gym, or a local café, or go to the theatre! The more you’re out in society, the more interesting people you will meet and expand your social circle.  9. Take Advantage of the Benefits of Relocating  Dubai offers many benefits to expats, including tax-free income, a high standard of living, and a safe and secure environment. Take advantage of these benefits to make your relocation as stress-free as possible.  10. Seek Help if Required  Finally, if you are finding the process of relocating to

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Checklist Of Things To Do After Moving Into A New Home

Checklist Of Things To Do After Moving Into A New Home

People relocate for many reasons – moving for work, to be closer to family, to move to a better school district for their kids and more. Once you turn the key in the lock and step over the threshold as a new homeowner, you’re entitled to bask in the revelation that you’ve bought a new home. However, next on your “things to do list” is just that – everything else you need to do. How Can A Moving Checklist Help You Prepare For Your Move? Creating a moving checklist ahead of time can help keep you organized. It’s true that you may not think of everything, especially once you actually see your home without the previous owner’s furniture in the living room or pool table in the basement. Things To Do After You Move Let’s take a look at some moving tips and how to handle certain things as soon as you move into your new home. 1. Schedule A Deep Clean Your first thought may be to deep clean your new home. You can do it yourself or you may want to forgo scrubbing floors and hire a cleaning service instead. A cleaning service typically costs AED 50 – AED 100 per hour, depending on the size of your home, the location and the type of cleaning you need. It’s a good idea to interview house cleaners ahead of time before you make a decision about the cleaner you prefer. 2. Unpack Your Supplies When you have moving boxes sitting around in every room in your house from the moving company, your first reaction may be to jump in and start taking things out of every box you see. You may want to resist that impulse, however, because it can get overwhelming quickly. It’s a good idea to consider having an organized system at hand, such as putting boxes that belong in each room and unpacking two at a time. You may also want to consider unpacking the most important boxes first, such as kitchen and bathroom supplies. Prioritizing the rooms you’ll use the most will help you stay organized while you’re going through the process of unpacking. 3. Set Up Safety Measures For Kids And Pets Is your new house safe for children and pets? Put up safety gates at the top and bottom of the stairs, add outlet covers, secure heavy furniture to the wall, keep furniture away from windows, stow long electrical and window cords and lock cabinets and windows to keep kids and pets out. Keep cleaners and detergents, trash bins, heavy cookware and sharp objects out of reach. Keep any other dangerous packing supplies away from both kids and pets. 4. Change House Locks It’s important for brand-new homeowners to change their house locks once they move in. You don’t know who has keys to the home besides the previous homeowner, who could have passed out a dozen copies of the keys and given them to various friends and neighbors. It’s better to put yourself in control of your home’s security. Get new house locks as soon as possible. 5. Test Your Smoke Detectors And HVAC System Test your new smoke detectors and HVAC system. If there is a problem with either, it’s a good idea to get them checked out right away. You want to know that your heating, ventilation and air conditioning systems are working. If you move in the dead of winter or during the heat of summer, you’ll want to make sure your systems are working well. 6.Transfer Utilities Make sure your utilities are turned off at your old residence, then make sure they are transferred or turned on at your new location. Consider researching utility providers ahead of your move to determine whether you’ve chosen the right provider for you. Depending on the company, you may need to pay a transfer fee and a new service setup charge. If you’re a new customer, check with the utility company to find out what you need to do to set them up. Consider prioritizing by setting up utilities for the following: Once you’ve switched your service to a new home, a technician will come by to set up your utilities. 7. Set Up Connectivity – TV, Internet And Phone Services Many providers can give you access to various connectivity services, such as TV, internet and phone. Some companies allow their customers to transfer services from one location to another, while others may force them to cancel the services at one place before setting up services at another. Once you’ve decided on a service provider, you can pay an installer or in some cases, such as installing internet or cable, you can do it yourself. You may pay a relocation fee, depending on the company’s policies. 8.Schedule Home Improvements What repairs do you need to make to your new home? Some repairs may require more attention than others, such as leaky pipes, structural issues, a roof that needs replaced, etc. Get any problems addressed sooner than later if they aren’t taken care of before move-in day. Consider prioritizing the home improvements you need to have done based on the seriousness of each issue. Painting a room likely ranks on a lower priority than a leaky roof, for example. Consider getting a list of contractors in the area and interview them as soon as you know you’ll need to make improvements to your new home. Related articles:1. How much does buying a home really cost in Dubai?2. What Documents Do I Need Before I Sell My Property? Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook 

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Mortgage rejection reasons in the UAE

Mortgage rejection reasons in the UAE

Mortgage applications are not always approved, because sometimes a person doesn’t meet all of the eligibility requirements (which are there to prove that you’re a trustworthy and investment-worthy consumer). Some rejection reasons are more common than others, but it’s important to be familiar with them because sometimes you can avoid rejection beforehand. Following are a few reasons why a mortgage application may be rejected.‍ Mortgage rejection reasons Low incomeYou may not be approved for a loan if you have a low income. Most banks require a minimum salary of AED 15,000, or AED 25,000 for self-employed borrowers.  ‍Debt-burden ratio too high‍The debt-burden ratio or affordability shows if you can meet your monthly mortgage payments. If you have nothing left after deducting your monthly commitment from 50% of your salary, you don’t meet this requirement. ‍Dishonesty or misrepresentation‍Banks conduct thorough research on potential clients, and they will only accept your application if you provide accurate, honest and clear information about yourself. ‍Bad credit history and score‍Credit score and credit history are crucial in mortgage lending because they indicate the likelihood you will make your payments on time. It is a record of how someone handles money and debt, including credit card debt and other loans. ‍Age and nationality‍The minimum age to apply for a mortgage is 21 years and the maximum age is 70. As for nationality, while the criteria are different for UAE Nationals, expats and non-residents, some countries in the world are on the sanctioned list and UAE banks won’t do business with their citizens.  ‍Employment issues‍Your employment history, employer, employment status very much affect the outcome of your mortgage application. If you work in a company with a good reputation, that operates in a low-risk industry, or a larger company with a stable future, then it’s more likely that you’ll receive financing from banks. Also, the longer you’ve worked for the same/current company, the better your chances of getting approved for a mortgage are. ‍Failed stress test‍The market and economy are liable to change, which means interest rates can fluctuate. Stress tests are used by banks to determine whether you could afford to pay your mortgage if the situation were to become more difficult than usual. ‍Overpriced property ‍Discrepancies in the mortgage terms may arise if the bank evaluates the property for less than what you offered to pay, which can lead to difficulty in completing the deal, which may result in an increase in your initial payment or a sudden price adjustment. ‍Incomplete documentation‍Your application is likely to be denied if you do not submit all of the required documents or if the documents are not in line with the prescribed requirements.  Related articles:1. Is A Mortgage Secured Or Unsecured Debt?2. How to make your first home purchase in Dubai Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook 

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Frequently Asked Questions about Snagging

Frequently Asked Questions about Snagging

What is a Snag? A snag is a small defect or a problem that is found in a property after the construction is completed. It usually takes the shape of an incomplete/unfinished or damaged work. It might be something like a chipped tile, patched paint job, scratched glass, uneven/ugly terminations, missing door stopper, missing screws, wall cracks …etc. Most snags are usually cosmetic, however the MEP (Mechanical, Electrical and Plumbing) defects are the most serious which would affect your daily life. Improper gas connection, insufficient cooling from the air condition, moisture/humidity inside walls or doors or incorrect electrical wiring connection are some examples of what could be hiding in your property. What is a Snagging Inspection? It is an inspection conducted of a property at the time of the Orientation or Visit invitation by the developer. It is the time a homeowner is allowed to point out any defects/snags found in their property before proceeding for the key handover from the developer. Why do I need a Snagging Inspection? It helps the owner receive technical advice on the condition of the property from all aspects; Cosmetics, Mechanical, Electrical and Plumbing. Thus, ensuring the property is defect-free before taking the key handover. What is covered in a Snagging Inspection? Every part and every item of the property should be inspected without any exclusions. Cosmetics, MEPs, sanitary ware, appliances, furniture (if applicable). For villas and townhouses; water pump room, water tank, manholes, garden area, carport and the rooftop. When do I need the Snagging Inspection? The Snagging Inspection should be done at the time of the Orientation of the property before the handover process is completed with the developer. Why do I need 3rd party Snagging Professionals? Third party professionals have technical knowledge and experience in the construction fields, so you have an expert opinion on your property which helps you get possession of your property in its ideal condition. They would also use their tools and equipment to point out the hidden defects/problems in the property. Equipment like thermal cameras, electrical socket testers, humidity level meter and more will be used for your benefit. How is the Snagging Inspection going to benefit me as an owner? Snagging helps the owner know the defects prior to move in and thereby helps in getting returns on the investment faster. Whether you are an end user, an investor or looking to sell the property, there are benefits to conducting a Snagging Inspection of your asset. As an end user, you will want the property to be in its absolute best condition before moving in with your family. You want to make sure your tenants move into the property without defects to save you the hassle of chasing after the developer or having to cash in for rectifications if you are an investor. Finally, if you are looking to sell your property, a Snagging Inspection/Report will add value to your listing and puts you on the top of the list for a potential buyer. Who is responsible for rectifying the Snags? The developer is always responsible to rectify all the snags and defects. They should also allow you to have a De-snag inspection prior to the key handover. How long do developers take to rectify all the Snags? Every developer has a different timeline and it also depends on the size of the property and the number of snags reported. But the average is about 20 to 30 days. What is a De-snag Inspection? De-snag Inspection is the 2nd inspection which should be conducted after the developer team confirms that all the snags are rectified. It will help you ensure that the defects have actually been rectified the proper way and up to the standard. Is Snagging only supposed to be for newly built properties? A “Snagging Inspection” is usually done for newly built properties. But there are different types of inspections that would cover other requirements such as move-in inspection, move-out inspection and condition inspection. What is a Condition Inspection and what does it cover? A Condition Inspection is needed for the secondary market properties. When conducting a Condition Inspection, the focus would be on the general condition of each item/aspect of the property without exclusions but not on the small details such as scratches and dents which would be covered in a Snagging Inspection. Related articles:1. How To Increase Your Mortgage Pre-approval Amount2. What Should You Do If The Home Appraisal Value Is Lower Than The Offer Price? Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook 

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Invest in Off-Plan Properties?

Why Should You Invest in Off-Plan Properties?

Dubai has emerged as a global leader in terms of innovation. As a well-connected business hub, it offers great opportunities to many graduates from around the world. Thus, the city has the highest rental yield compared to other countries. Many people are investing in Dubai’s real estate, making it a hotspot. With the increase in demand, investors are now looking to buy off-plan property in Dubai. Before making an investment, it is essential to do proper research on the market. The market trends of Dubai can be easily researched online. After getting to know the market, it is crucial to choose which form of property you want to invest in Ready Property or Off-Plan Property. The main difference between the two is the completion status of the property. Off-Plan Properties Off-Plan Properties are a form of real estate that is not yet constructed. Off-Plan Properties are becoming a popular choice for investors for many reasons. Let us discover what these reasons are: Off-Plan Properties provide flexible payment plans. Since they are not yet constructed, the developers provide payment schemes such as 50% initial payment and the rest 50% on handover, 1% payment per month, or 40% post-handover. The prices are lower when compared to ready properties. This makes it practical and affordable to buy off-plan properties. Also, the property will be completely new, an added benefit of buying an Off-Plan Property. UAE has the best-growing economy in the world. The Capital Gains on real estate is the highest in Dubai. The ROI of the UAE is higher than other countries. Also, the property’s value is most likely to increase once the property is completed. You could sell it while it’s constructing or after construction at a much higher price. This provides financial security to investors who invest in Off-Plan Properties. The ROI you receive in UAE is much higher when compared to the ROI you receive in other countries. This provides a firm base and financial security in this city. It is very important to do your research and find the best off-plan property for yourself according to the forecast of ROI you will receive. This helps in making the right choice of Off-Plan Property. Official bodies like RERA and DLD protect buyers against delays, fraud, or cancellations. One rule is that buyers must make payments for Off-Plan projects at DLD-approved banks. Developers can get the funds only until the project has reached a certain completion stage. These laws make it easier for buyers to trust the institutions and invest in off-plan projects. As Dubai is developing, there is construction taking place in every corner. New communities are being built from Downtown to the outskirts of Dubai. Whether villa or apartment, any location, property type, price point, off-plan property, buyers have many choices. Since there are many choices, you can choose your ideal Off-Plan project here. We at Capital Zone Properties can help you in finding the ideal Off-Plan Property. We have several choices of the best Off-Plan Properties in Dubai. In conclusion, Dubai is a hotspot for investors. They are interested in investing in Off-Plan properties. Off-Plan properties are a form of real estate that is not yet constructed. There are reasons to choose Off-Plan properties: Flexible payment plans and lower prices, capital gains, higher rental yield, buyer protection laws, and a large variety of off-plan projects in Dubai. Therefore, you should select to buy off-plan properties instead of ready properties. Related articles:1. Is A Mortgage Secured Or Unsecured Debt?2. How do Islamic and conventional mortgages differ from one another? Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook 

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How to make your first home purchase in Dubai

How to make your first home purchase in Dubai

We think it’s important to celebrate when someone buys a home, so let’s work to reduce your worry and prepare you for all the processes involved in doing so. Where should a home buyer begin? The process of purchasing a property involves many steps, from budgeting and searching to viewings and contracts. But ultimately, being prepared is the first step in purchasing a home. Many would argue that purchasing a home is an important life achievement, while others will ramble on about how it is preferable to buy rather than rent. The best time to purchase a home is ultimately when you feel prepared (and the global financial market is looking healthy). If you’re prepared to move forward, we’ve outlined the main checkpoints along the way to house ownership so you can cross everything off your list and take possession of your ideal residence. First-time homebuyers’ guide Prepare your finances It’s crucial to make sure you have the money necessary to buy and afford a property. Being aware of any previous loans you may have and having a credit score above 700 are crucial if you anticipate needing a mortgage. In the event that your credit score is poor, you can attempt to raise it by managing your debt, credit utilization, and bill payment dates. Be mindful of fees  The cost of purchasing a home is high, and this applies to more than simply the purchase price. Property fees, bank processing costs, even the pre-title document, will be asked of you. View a detailed overview of all the costs related to purchasing a home in Dubai. Talk to a mortgage expert While doing things on your own and online can be convenient, it is good to have expert support when you’re a first-time homebuyer. Our mortgage consultants can provide you with the right information and guidance on the best mortgage for first-time homebuyers. Create your home wishlist What kind of house would you like to have? Plan design your perfect house, including how many bedrooms it should have, the layout of the kitchen, if it should include a balcony, and whether or not you want it to be pet- or family-friendly. Find your ideal home It’s time to start looking once you’ve determined what you’re looking for. Our platform includes a carefully chosen selection of authentic property listings, and our property advisers are available to offer first-time home buyer help and the crucial house purchasing advice you’ll need to make your property search go smoothly. Start looking for your ideal home in one of the many Dubai communities we have covered. Learn the jargon used in real estate You should feel confident when talking to a real estate agent or even a mortgage broker. So learning some of the real estate lingo will help you not feel confused throughout the process. Some handy terms that will pop up in your home buying journey include: Down payment is the upfront fee you pay as a deposit for your property. It’s a percentage of the property amount.  Form F is an agreement that has to be signed by the buyer and seller when purchasing a property. This is an electronic version of a Memorandum of Understanding. Final offer letter (FOL) is a letter, completed post-valuation, stating the amount the bank will lend you, tenor, rates, life insurance, property insurance, and all the relevant information about your transaction. Oqood, also known as pre-title, is the DLD property ownership document given to someone who owns a property that is not yet complete or handed over. Related articles:1. How To Increase Your Mortgage Pre-approval Amount2. What Should You Do If The Home Appraisal Value Is Lower Than The Offer Price? Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook

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