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Frequently Asked Questions

Dubai • Abu Dhabi • Sharjah • Ajman

Question about selling and buying

In the UAE, particularly in Dubai, home values generally appreciate due to strong demand, limited land supply, and the city’s global appeal. However, depreciation can occur in certain cases, such as during economic downturns, oversupply in specific areas, or if a property is not well-maintained. For instance, fluctuations in the real estate market, changes in neighborhood desirability, or outdated property features can affect value. To safeguard investments, homeowners in Dubai must focus on regular upkeep, strategic upgrades, and staying informed about market trends.

Whether an older home is as good a value as a new home depends on various factors, including your needs, preferences, and the property’s condition. Here’s a quick comparison in the context of the UAE and Dubai’s real estate market:

Older Homes:
  • Pros: Often located in well-established communities with larger plots and mature landscaping. Prices may be more negotiable, and some homes offer unique architectural styles or layouts that newer developments lack.
  • Cons: May require more maintenance, renovations, or upgrades to meet modern standards. Outdated features or amenities could reduce appeal compared to newer options.
New Homes:
  • Pros: Typically come with the latest designs, energy-efficient technologies, and modern amenities. They often require less immediate maintenance and may include developer warranties.
  • Cons: Newer properties can be more expensive upfront, and some developments are located in emerging areas that may lack established infrastructure or community facilities.

Trusting OSAC stems from its commitment to excellence, transparency, and client satisfactionin the highly competitive real estate and holiday home sectors. With a strong presence in the UAE market, OSAC Holiday Homes 

specializes in providing seamless, top-quality services tailored to meet diverse client needs. The company’s values are rooted in professionalism, reliability, and ethical practices, ensuring that every transaction and interaction is handled with care and integrity. By choosing OSAC, clients benefit from a team of experienced professionals dedicated to delivering personalized solutions and fostering long-term relationships

Yes, you can pay your own taxes and insurance, but it depends on your mortgage arrangement. In Dubai and the UAE, property-related expenses such as taxes and insurance are typically the owner’s responsibility. If you have a mortgage, lenders often set up an escrow account where they collect payments for taxes and insurance as part of your monthly mortgage payment, and then they handle the payments on your behalf.

The loan process in Dubai typically takes 3 to 6 weeks, but the timeline can vary depending on several factors, including the complexity of your application, the lender’s requirements, and your preparedness. Here’s a breakdown of the process:

  1. Pre-Approval (3–5 days):
    This involves submitting financial documents (e.g., income proof, bank statements) for the lender to assess your eligibility and provide a pre-approval letter.

  2. Property Valuation (5–7 days):
    Once you select a property, the lender conducts a valuation to ensure the property’s worth matches the loan amount requested.

  3. Final Approval (5–10 days):
    After valuation, the lender reviews all documents and grants final approval for the mortgage.

  4. Loan Disbursement (5–10 days):
    After approval, the funds are disbursed to the seller or developer, completing the loan process.

Tips to Speed Up the Process:

  • Provide all required documents promptly and ensure they are accurate.
  • Work with a mortgage advisor to navigate the process efficiently.
  • Choose a lender with a streamlined approval system.

Note: Timelines may vary based on the bank, the property developer, and any additional approvals required (e.g., for off-plan properties).

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