Good time to buy in JBR? tips for a newbie

[maximusprime]

Hi, any thoughts about buying in JBR?
I want to buy a place to live in and let out the extra rooms. I have heard a lot of speculation about the comming flood of properties as the new developments begin to open up. The question: buy or wait? As a newcommer to Dubai, I am currently renting and pissing away 5500 AED per month, which I feel is reason enough to buy even if prices drop a little. Thoughts, tips and advice from any veteran dubai investors would be apreciated.

[DoBuy]

Personally I would buy now.Prices will go up for at least 18/24 months.All developers are behind on completion times so there won't be oversupply for a while.

[Go West]

Originally Posted by maximusprime

Hi, any thoughts about buying in JBR?
I want to buy a place to live in and let out the extra rooms. I have heard a lot of speculation about the comming flood of properties as the new developments begin to open up. The question: buy or wait? As a newcommer to Dubai, I am currently renting and pissing away 5500 AED per month, which I feel is reason enough to buy even if prices drop a little. Thoughts, tips and advice from any veteran dubai investors would be apreciated.

Hi
I firmly recommend you to buy something now as you will regret not doing so within 1-2 years.
Prices are constantly going up and rental as well.
It is much wiser to buy then rent as when you rent it is money that goes nowhere especially when you can pay the same or little more towards your own home and at the end of the day you are paying off your own home or investment property.
It is also a very good idea for you to rent the extra rooms to be recover some of your expanses.
If you decide to buy a place don't just buy anything you have to make sure it is the right place as you don't want to loose money.
I'm very experienced with the Dubai property market and will be happy to help and guide you through all the process of buying a place in Dubai.

[Gashead]

Bear in mind the costs.

2 Bed JBR apartment = say 2,000,000 +
80% mortgage = say 16,000 per month
Plus Dhs. 1,000 per month charges.
Less Dhs. 50,000 for renting out a room.

Approx net cost to you per month = Dhs. 13,000 (plus Dhs. 200,000 deposit + fees).