As the property market continues to heat up, Selling and Leasing prospects look positive for Dubai’s villa communities. With such a heightened demand, we’re starting to see double-digit price recovery for the last few months. This means that sellers can now enjoy these increased prices for their properties.
When deciding to sell a property, it is natural for one to wonder if this is the correct time or even the right decision. With buyers now looking at larger sq.ft. homes post lockdown, and moving to more residential villa communities in Dubai, now might be a great time to sell. Here are 5 points to start off with before you decide:
1. EQUITY IS ON YOUR SIDE
Equity is the difference between what you owe on your mortgage and the current market value of your home. Your equity increases over time as you make mortgage payments. Having high equity is favorable for you as a seller because you get to make a higher down payment on your new property purchase.
2. YOU WANT TO UPSIZE/DOWNSIZE
If you have outgrown your home, overcrowded it, or simply want a more spacious place, it is time to upsize your house. Selling your home is a great way of using the new cash in your bank and upgrading your lifestyle. On the other hand, If you have plans to retire, the kids have moved out, or you just want something cozy and convenient, selling your home and utilizing the profit in your pocket is a sustainable option for retirement or even more investment.
3. MARKET TRENDS ARE IN YOUR FAVOR
Selling a home during a global-wide pandemic can be difficult, so it is important to know your local & international market before getting your property out there. In H1 2021, Dubai’s property market tipped in favor of sellers, especially for villas and townhouses where we witnessed a decline in available inventory for sale in all major communities. As a result, sales prices surged for the first time in the past six years and they are not expected to slow down any time soon. In fact, according to the Dubai land department, last month had over 11.34 Billion Sale transitions alone. With the market heating up, selling your property right now is not a bad idea. Make sure you follow the correct market reports and stay up to date with current trends, news.
4. YOU ARE EMOTIONALLY READY TO SELL
With Equity on your side, good market conditions, and cash in the bank, you are financially ready to sell your house. But make no mistake, selling a home can be an emotional roller-coaster for most people. If the house you are selling is a place you lived in, make sure you are ready to part ways with it. Prepare yourself for possible negative buyer feedback and intense buyer negotiations on price. Are you ready for a new chapter? Are you equipped to put in the work to get your property ready for buyers? Make sure the answer to all the questions is a yes before you move further. Get a trusted real Estate Agent to help you ask the right questions and get you ready for the big sale.
5. YOU HAVE A TRUSTED REAL ESTATE AGENT
Listing your property with a trusted community expert can always increase your chances of selling your home. Agents bring experience, knowledge, and confidence to the table. They give you the best insights on your selling market, price value, equity and are skilled in negotiations with buyers. Not to mention their paper navigational skills and a whole team of marketing & advertising savvy people who make sure to market your property on the right platforms.
If you are considering selling, get in touch with one of our community specialists at 800 ASCOT for guidance and advice on the best decision for your property. A&Co. also offers free market valuation on your home.
Got a property to sell? List with us! We’ve got the best area experts here ready to help you.
