Not Just a simple blog

From Finding To Funding Your Dream

The world has become increasingly smaller these days. It comes as no surprise therefore, for people to opt for a second home away from their normal residential country. Investing either for the purpose of own use or for leasing or with a view to sell it at a later stage for profit, buying another house away is an economically sound decision. One need not have all the money to buy the properties too; finding the bank to fund your second house is quite easy.
While you are thinking of investing in another country, Dubai stands out; it is one of the seven independent Emirates and part of UAE as well as one of the fastest growing markets for real estate and moreover, in recent times, the law related to investment by expats has been liberalized.
So, you have decided it is Dubai; what next? Identifying villas for sale and proceed to buy it. Let’s look at the options available; if you have your own resources for funding the entire deal, buying a villa is easy and simple. Of course, one has to know the local rules and regulations and law and get help in closing the deal. However, if you chose to fund your investment by mortgage, you need to know few things before you proceed.
Things to know
Banks in Dubai do lend money for buying of villas. Like all other loans that banks give, they will look in to your resources and how you will pay the money back; mortgage in simple terms means that the property legally belongs to the bank which funds its purchase though the buyer actually enjoys it either by living or by letting it out.Here is the list of things to consider;
Ideally, you should first approach a bank with the details of the villa you are planning to buy and take a pre-approval
Bank will check your financial background and ascertain the total amount that can be given; value of the villa and your repayment capacity are the things they take in to account and stipulate a margin to be provided by you.
Consider the tenor of the loan – the longer the tenor less will be the monthly outflow of funds but more will be the interest. Opt for the one which you are comfortable with. Go right here for more information about luxurious but quite affordable villas for sale.
Mobilize resources, as much as possible from your own sources and limit the mortgage amount in order to save on the interest as well as your monthly cash outflow.
Property rates always go up one way; north. Hence, it makes economically a good decision to buy and invest in a villa in Dubai. Mortgage is a simple mechanism to raise funds for you dream of owning a villa.

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