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The 11 Best Family-Friendly Communities in Dubai

When looking for an ideal family home, the proximity of kindergartens, schools, hospitals, supermarkets and other facilities is an important factor. The availability of entertainment centers and outdoor parks, where residents can relax and play sports on the territory of the residential development also plays a significant role. We have prepared a list of the TOP family-orientated communities in Dubai in order to help expats choose the most convenient option for buying or renting real estate. TOP Family-Friendly Communities in Dubai This section contains the best family-friendly villa communities in Dubai. All the proposed neighbourhoods are situated near a well-developed infrastructure of schools, kindergartens, hospitals, supermarkets and grocery stores. The most expensive option for the sale of villas is Emirates Hills with the cheapest community being Jumeirah Lake Towers. Emirates Hills The developer of the luxury gated community of Emirates Hills, which is a part of the Emirates Living Project, is Emaar Properties. The residential development is based on the concept of Beverly Hills in the USA. Moreover, Emirates Hills is one of the first freehold real estate areas in Dubai, where expats can buy the property at 100% ownership. According to the 2021 Annual Market Report by Bayut, this neighbourhood is amongst one of the best communities in the city to purchase villas. The residential development offers 2BR-7BR villas for sale and 5BR-7BR villas for rent. The starting price for 2BR villas for sale is AED 18,000,000. The minimum price for 5BR villas for rent constitutes AED 1,400,000 per year. The amenities of Emirates Hills include swimming pools, parking places, green spaces, pet parks, children’s playgrounds, BBQ areas and round-the-clock security. The community is also home to an 18-hole premium-class golf course called Montgomerie Golf Club Dubai. Since this is a closed community, there are no bus stops or metro stations within the site. The nearest transport facilities are the Dubai Marina metro station and marina bus stops, which are both a 10-minute drive away by car. We recommended having your own car for more comfortable movement in and around the area. Umm Suqeim Umm Suqeim is one of the oldest communities in Dubai. The neighbourhood comprises five sub-communities: Umm Suqeim 1, Umm Suqeim 2, Umm Suqeim 3, Umm Suqeim Road and Madinat Jumeirah Living. The area offers residents a variety of facilities including cafes, stores, groceries, bakeries, supermarkets, mosques and pharmacies. The area is in close proximity to educational and medical institutions, public transport stops, as well as the Umm Suqeim Park and beaches. In addition, Umm Suqeim is home to Kite Beach, where residents can find a wide variety of watersports and beach activities. he neighbourhood offers 4BR-6BR villas for sale and 3BR-7BR villas to rent. The starting price for 4BR villas for sale constitutes AED 5,900,000 and AED 115,000 per year for 3-bedroom villas to rent. Many villas have private backyards and separate maids’ rooms. Some villas have swimming pools and underground parking spaces as well. Al Barari Al Barari is a beautiful gated residential neighbourhood in the centre of Dubai, which consists of two phases. Phase one includes The Nest, Seventh Heaven, Ashjar, The Reserve and The Residences. Phase two comprises a resort hotel, retail stores, medical facilities and several additional residential developments. Residents of Al Barari have access to premium amenities such as the Body Language health club, the famous gourmet restaurant The Farm, and Heart & Soul spa. This area is also one of the greenest neighbourhoods in Dubai due to its numerous green spaces, natural lakes and vast lush gardens. Al Barari community offers luxurious 4BR-7BR villas for sale and to rent. The minimum price for 4BR villas for sale constitutes AED 3,090,000 and the starting price for 4BR villas for rent is AED 230,000 per year. Silicon Oasis Dubai Silicon Oasis is a community in the centre of Dubai, with a total area of 7,200,000 sq. m. It is also a free trade zone. Most residential buildings have dedicated parking spaces and there are lots of car parking around the community. Amenities of Silicon Oasis include grocery stores, nurseries, restaurants, supermarkets, a Kids Jungle activity centre and a technology park with several smart devices such as solar-powered benches and a smart lighting system. Dubai Silicon Oasis neighbourhood offers 3 to 6-bedroom villas for sale and to rent. The minimum selling price for a 3BR villa is AED 2,900,000. The minimum annual rental price is AED 130,000 for a 4BR villa and from AED 137,000 for a 3BR villa. Dubai Hills Estate Dubai Hills Estate is the first phase of the Mohammed Bin Rashid City and a joint project of Meraas Holding and Emaar Properties. The total area of the neighbourhood is a colossal 20,000,000 sq. ft. The community is the green heart of Dubai due to its numerous lush green zones. Residents of Dubai Hills Estate have access to various amenities such as schools, hotels, hospitals, Dubai Hills Park, open leisure spaces, Dubai Hills Mall and a 33 miles bicycle route. Moreover, the residential area is one of the most popular golf communities in Dubai and home to an 18-hole championship golf course – Dubai Hills Golf Club. The neighbourhood offers 3 to 7-bedroom villas for sale and to rent. Starting prices for 3BR villas for sale constitutes AED 2,400,000 and AED 125,000 to rent per year. Mirdif The family-friendly suburban community of Mirdif is situated in close proximity to Dubai International Airport. The neighbourhood includes four sub-communities: Uptown Mirdif, Mirdif Tulip, Ghoroob and Shurooq. Shurooq area is a freehold zone to foreign nationals. Each of the sub-communities offers a variety of amenities including parks, pet shops, grocery stores, beauty salons, restaurants and sports facilities. Residents of Mirdif also have fast and easy access to the large facility of Mushrif Park. The residential community offers luxury 3 to 6-bedroom villas for sale and 2 to 7-bedroom villas to rent. The starting price for a 3-bedroom villa in Mirdif constitutes AED 2,200,000 and the minimum price for 2BR villas to rent

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How do I calculate my mortgage interest payment?

What is Loan Interest? Loan interest is the amount that you pay to a lender in exchange for them lending you money. It is essentially a fee charged for the privilege of borrowing money, and it is typically paid to the lender on a monthly basis. The actual amount of interest that you pay will depend on the size of your loan, the interest rate, and the length of the loan term. For example, if you borrow AED 100 at an interest rate of 10%, you will owe AED 110 to the lender at the end of the loan term. Factors that may have an impact on interest rates: Here are some of the factors that may affect your mortgage interest rate: Loan Term: The loan term is the length of time in which you have to repay the loan. Loan terms can range from a few months to several years. The terms of most loans are based on the borrower’s ability to repay the loan. The interest rate, the loan amount, and the repayment schedule all play a role in determining the loan term. Lenders also consider the type of loan, the purpose of the loan, and the collateral involved. The loan term is an important factor in determining the overall cost of the loan. Short-term loans tend to have higher interest rates than long-term loans, but they may also be easier to qualify for. It’s important to compare all of these factors before choosing a loan term. Credit History: Your credit history is one of the major factors in determining your mortgage interest rate. It can help you qualify for a loan and get a lower interest rate than borrowers with bad credit. Lenders will look at your payment history, debt-to-income ratio, and other financial indicators to determine whether or not you are a good credit risk. A good credit history can help you get a better mortgage interest rate, and it can also give lenders the confidence to lend you money. Down Payment: Making a down payment on your loan can significantly reduce your interest rate. Generally, the larger the down payment you make, the lower your interest rate will be. This is because lenders view borrowers who make larger down payments as being less likely to default on their loans. It’s important to know that some mortgages require a certain minimum down payment. Loan amount: The loan amount is the amount of money you borrow from a lender. The loan amount has a direct impact on your interest rate, as lenders may charge higher interest rates for larger loans. Additionally, some mortgages require borrowers to have a certain minimum loan amount to qualify. Overall, understanding how mortgage interest works and the factors that affect it can help you make an informed decision when shopping for a home loan. Researching and comparing different lenders will help ensure that you get the best interest rate possible on your mortgage. Interest rate: Interest rate is the rate at which borrowed money accrues interest, expressed as a percentage of the principal and can range from 6-36%. The interest rate is used to calculate the cost of borrowing money. In addition, your loan term can impact your interest rate. Short-term loans tend to have higher interest rates than long-term loans, so it’s important to compare terms before choosing a loan product. Finally, making a larger down payment on your loan can help reduce your interest rate and lower the overall cost of your loan. There are many factors that affect interest rates, including inflation, economic growth, and monetary policy. How do you calculate loan interest? The amount of interest you will owe on loan is determined by the interest rate, the loan amount, and the loan term. To calculate your total loan interest, you need to multiply the total borrowed amount by the interest rate and then divide it by 365 (depending on your payment frequency). For example, if you borrow AED 1000 from a lender at 10% interest for 12 months, your total loan interest would be AED 100. You can use online calculators to help you determine how much interest you will owe on loan. Related articles:1. What you need to know about mandatory life insurance for your UAE home loan2. Best Waterfront Living Communities In Dubai Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook

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Are Post-Handover Payment Plans: Risky for Buyers?

In the age of rising property prices, buyers are increasingly turning to post-handover payment plans, which is labeled as a good shortcut. Developers offer attractive terms, making it an excellent avenue for those who can’t afford to pay up-front for the property they want. However, post-handover payment plans come with a certain degree of risk that must be considered before entering such an agreement. At Capital Zone Mortgage Broker, we understand that post-handover payment plans are a popular option for those looking to purchase a home, but as a buyer, one must be aware of the inherent associated risks. Our property advisors can provide the necessary information to ensure your post-handover payment plan is a safe and secure investment. What are post-handover payment plans? Post-handover payment plans mean that buyers have to plan ahead and be thoughtful about their spending. It is also important to note that they are unsuitable for every buyer due to their risks weighing more than traditional payment methods. Therefore, buyers should always be diligent before entering such an agreement and ensure they understand the terms and conditions involved. Post-payment plans are a valuable financial tool that can help people purchase a property, mobile phone, or even groceries when the money simply isn’t available in lump sum. In a post-payment plan, the individual makes a series of payments over time until the property’s worth is fully paid for. This payment scheme can be shared between two parties, such as in the case of an employer and employee or between banks and buyers. What makes Post-Handover Payment Plans a Risky Affair? Post-handover payment plans can be problematic for buyers. The main risk is that buyers don’t know if the project will be completed on time or if the quality of the end product matches the promise made by the developer prior to signing the contract. In addition, it can be difficult to cover any losses that may occur due to delays in completion or defects in construction. Buyers that avail of such plans typically make payments upon receipt of keys and possession of the house. Such payment structures must be analysed sternly before arriving at a decision. Financial advisors often recommend traditional financing options such as full pre-payment at closing, or staggered payments by milestones over a shorter period of time. This ensures that your investment stays secure. That being said, post-handover payment plans aren’t all bad. Here’s a list of its merits and demerits to help you out. Reasons to Choose Post-Handover Payment Plans Reasons to Run the Other Way Conclusion In a nutshell, post-handover payment plans can be a great option for buyers who are looking for more flexible financing arrangements. However, it is important to carefully consider the risks before entering into such an agreement and ensure that you understand all the terms and conditions involved. Related Articles:1. Buyout Loans in UAE and how they work2. Reasons your Mortgage Application is Rejected Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook

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What Documents Do I Need Before I Sell My Property?

So you’ve decided to sell a property, it could be your current home or an investment one. Either way, you’re ultimate goal is to set a high selling price (in line with current market rates) and go through the sale process in a fast and easy manner. To do both, you must first make sure that all your documentation is up to date, ready and by your side before you put up the For Sale board. Here is a list of all the documents you need to have in place before listing your property for sale: 1. Personal Documents The first and most important of all documents are your personal documents. UAE residents must have a valid passport, resident visa and Emirates ID, updated with your latest information. Whereas non-residents must only have their passport is up to date and valid. 2. Updated Title Deed On Dubai Rest App To sell your property, you need to have an updated Title Deed. This is an important step, as some landlords who bought their properties a few years back will need to update their title deed to the new format which is listed on the Dubai Rest App with an updated QR code. The Dubai Rest App is a smart platform that is designed for all Real Estate transactions across Dubai. Once you download the app, you can upload all your contact information and documents related to your property that facilitates the sale. Another crucial factor is updating all your personal information on the Dubai Rest App. You wouldn’t want all your approval mails to be going to the wrong address or number? 3. Non-Objection Certificate From The Developers And Dubai Municipality Before selling your home, a signed NOC is needed for all the work you’ve done in your house; extensions, upgrades, and any other changes done must be approved via the Developer and the Dubai Municipality. Getting your NOC can be a time-consuming process, so it’s always best to get these documents and approvals ready before you list your villa for sale. It also helps you get the best price for your sale 4. Receipts Of Any Updates And Modifications To keep the value of your property at the best possible sale price, collect all and any receipts that you have accumulated over the years of any upgrades done to the house; this includes flooring, bathroom, kitchen, garden and maintenance, which can add value to your property during the time of your valuation. If you’re looking at embarking on a journey of selling your property, we hope these documents have given you a bit of understanding of what you need to gather before you start. Related articles:1. What Documents Do I Need Before I Sell My Property?2. How much does buying a home really cost in Dubai? Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook

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What are rent-to-own schemes in Dubai?

With Dubai’s property market witnessing a steady flow of new supply, developers have created attractive payment plans in a bid to capture the attention of buyers to purchase built up stock. Rent-to-own schemes are gaining popularity amongst buyers, assisting them in getting into their first home faster by removing the pressure of a large down-payment. For developers, this initiative provides access to a wider pool of buyers, who may not otherwise have the up front capital to purchase otherwise – a mutually beneficial arrangement. What is rent to own? Each rent-to-own scheme is unique but, simply put, it’s an agreement between a developer and buyer where the equivalent of rental payments are used toward a down payment. This arrangement allows a buyer to simultaneously pay rent and “save” for a down payment. Other schemes are on a longer time span, such as 20 years. The amount required up front is about 5% or less, and instead of obtaining a mortgage, monthly payments are made to the developer and the property is paid off that way. An upfront payment is required (though substantially lower than the 25% required to secure a mortgage plus additional upfront costs) and once the contracted timeframe has passed, the buyer can choose to purchase the property, or exit the agreement. The rent is typically higher than the market’s rate considering the convenience factor for the buyer, but the premium could be justified if you otherwise would not be able to save for a deposit. Two types of agreements Is this a legal arrangement? Yes. The Dubai Land Department (DLD) launched the rent-to-own (Ijarah) service, a specific title deed register to provide a clear legal framework to facilitate such transactions. How does rent-to-own differ from a mortgage? Buying a home via a bank mortgage is common practice, but the main hurdle faced by Dubai residents is the requirement for a minimum 25% down-payment, per UAE Central Bank regulations. In addition to this, there are further upfront transaction costs that must be accounted for. The key difference between a rent-to-own scheme and a mortgage is the upfront payment required. Upfront costs for a mortgage: Upfront costs for a rent-to-own scheme: Benefits of rent-to-own What to watch out for How does the payment plan for rent-to-own schemes look? The payment plan under each rent-to-own scheme is unique as the terms are individually decided under a contract between the developer and the buyer. Whilst the DLD has issued guidelines and associated fees regarding registration, financing, transfer and cancellation of rent-to-own contracts, the schemes created to date have been developed individually, on a case by case basis. What should be included in a rent-to-own contract? What are the fees for rent-to-own schemes? As determined by the DLD, the following fees are applicable when entering a rent-to-own contract: Seller (Developer) fees: Buyer fees: Related articles:1. What are rent-to-own schemes in Dubai?2. Top 5 Things to Consider When Buying a Villa in Dubai Stay tuned for more fascinating insights on UAE Mortgage trends:Website | Linkedin | Instagram | Facebook

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why listing exclusively with an agency is better than an open listing

When selling your property, you’ll have many of decisions to make. One of those options will be whether to list your property with several agents or simply one. Which property selling strategy among those offered is best? Depending on the situation and the person you ask, the response will change. Using a private agency listing has a number of advantages over an open listing, though. So what does an exclusive agency listing mean? It is a binding agreement between a real estate broker and the owner of the property. The owner grants the real estate company the right to be the only company with the sole ability to sell or lease the property in accordance with the conditions of the contract. After then, the owner agrees to an exclusive agency agreement and pays the real estate agent a commission when the house is sold. Also, a buyer who works with different agents would not want to see the same home five times. The advantage of a designated broker is found here. They significantly simplify the process for you because they have a wealth of knowledge and highly specialized resources. Here are five reasons why this agreement, despite sounding limiting, is quite advantageous: 1. Enhanced awareness of your property When you exclusively list your property with a brokerage or an agent, you automatically maximize the exposure of your listing through the various marketing programs of the brokerage. This covers listing websites, premium publishings on all real estate portals, including Property Finder, Bayut, and Dubizzle, as well as individualized social media marketing campaigns and high-quality photographs and videos. An open listing, on the other hand, offers a different level of guaranteed marketing, so your property might not receive the visibility you want. At Capital Zone, we go above and above for our exclusive listings, putting all of our efforts into one listing with one highly motivated broker in order to maximize your earnings. 2. Community Experts A competent agent will represent both you and your property when you list exclusively with a brokerage. They’ll be able to react to questions, bargain on your behalf, and provide direction all throughout the process. Buyers and tenants are regularly let down by careless and unreliable open-listing agents and prefer to spend their time trying to purchase properties that have already been sold or leased. Exclusive listings protect the privacy of the seller’s information. Any realtor who brings a buyer is permitted to list the home as being open and even provide the buyer with information on the seller. While using an exclusive listing, the seller has more control over who can access their personally identifiable information. 3. Creates a process simplification and accuracy for the sale When you have an exclusive listing, the process is streamlined and made easy by the fact that you only need to work with one agency, which can simplify and ease the process of selling your property. An open listing, on the other hand, demands you to work with many agents, spend more time interacting with them, and offer access to numerous people with a busy schedule that may be more difficult. Also, the fact that your dependable broker is supported by years of experience and market expertise helps you avoid an emotional sell. You can rely on them to make the appropriate offer at the right time in the right market. The exclusive Listing also demonstrates the seller’s commitment to selling the property. If you’ve signed an Exclusive Listing Agreement with a respectable and reputable real estate brokerage firm, you can count on receiving a diligent and professionally done job. 4. Enhanced chances of selling your property Compared to open advertising, properties listed exclusively with an agency have a better probability of selling. This is mainly due to the fact that an exclusive listing provides stronger marketing initiatives and qualified counsel. Also, it frequently eliminates a significant portion of the drawn-out negotiating process, which typically entails many offers, rival offers, etc., resulting in “no sale anyway.” When a real estate broker has an exclusive contract to sell the property, they have the time to carefully design bids from purchasers that are advantageous to you. Inversely opting for a “non-exclusive” agent who won’twon’t be driven to invest a significant amount of effort and time into marketing your property because there is no assurance that they will receive an incentive. There is also massive competition between agents resulting in a decline of the property value and loss of valuable time because frequently, those agents wait for buyers to initiate the sale or lease. 5. Build lasting relationships When you exclusively list, you have one broker who is responsible for seeing to it that your needs come first. It eliminates uncertainty and inconvenience. You give us the freedom to sell or rent your home using all of the resources at our disposal when you exclusively list it with a company, and you can bet the agent will use every one of them! In addition, we freely distribute your property information to hundreds of other brokers we trust. Between the broker and the seller, the Exclusive Listing Agreement establishes a basis for sincerity, confidence, and trust. Each and every piece of real estate we sell or rent needs this basis. That is the most productive, accountable, and expert way for us to work. In conclusion, there are a number of advantages to having an Exclusive Agency Listing. Your property will be successfully sold by Capital Zone’s committed brokers using all of our tools and accessible marketing strategies, all while keeping you comfortable. 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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