That moment you find the perfect flat is pure joy. The layout feels right, the view is stunning, and you can already picture your life there. But smart buyers look beyond the listed price.
The full cost of ownership includes several extra fees. Being prepared for these expenses makes the process smoother and prevents surprise bills. As you plan to buy flat Dubai, keep these hidden costs in mind.
Government fees:
The sale price is one thing. The government charges a fee for the transfer of property ownership, which is a percentage of the purchase price. You must also budget for registration costs paid to the land department to make your ownership official in the system.
Agency commissions:
If you use a real estate agent, their service comes with a fee. This commission is typically a percentage of the final agreed purchase price and is due upon the successful completion of the sale. It’s a cost for their expertise in finding and securing the property.
Service charges explained:
This is a recurring annual cost for apartment owners. It covers the upkeep of the building’s shared areas. This includes cleaning, air conditioning for lobbies and corridors, swimming pool maintenance, security, and repairs to the building’s exterior and common facilities. The amount varies by building.
The move in fund:
Before you can settle in, you will need to pay for utilities to be connected. This includes setting up accounts for water and electricity, which often require a security deposit. There might also be fees for installing internet and television connections to get your home ready for living.
Home insurance plans:
While not always required by law, securing insurance for your property is a wise idea. It protects your investment against possible damage. Contents insurance for your belongings inside the flat is a separate, optional add on that many owners consider.
Future repair costs:
Buildings age and things wear out. Setting aside money for future repairs within your own flat is essential. This fund is for fixing appliances, repainting walls, or handling any plumbing or electrical issues that arise after you move in, separate from the building’s service charge.
By factoring in these areas, you turn that exciting key with confidence, ready to enjoy your new home without unwelcome financial surprises.