If you’re from the UK or another country that loves to tax to the hilt, then maintenance charges are probably better known to you as council taxes or community charges. In Dubai, maintenance charges are the costs that freehold property owners have to pay each year to cover the general upkeep of roads, parks and facilities that are part of their development. As you can’t buy a property just anywhere in the UAE, you are paying maintenance for whichever development you happen to buy in. This does make a difference. While most developers will charge roughly the same rates on property, there are certain risks that you should be aware of when buying Dubai property.
Maintenance costs can go up! This is rather obvious as the general theme of life in Dubai at the moment is that the prices are going to increase! So if you are buying, be sure to find out the terms of your maintenance contract to avoid potential shock if it’s tripled. This was the case in the Green Community where residents were appalled to learn that the maintenance company had changed, and with that, the prices.
Read the fine print! You wouldn’t buy a property in any other country without reading all the details of your contract and deeds so why should here be any different? It is a good idea (actually, necessary) to get legal advice when buying freehold property just to confirm that you aren’t overlooking anything very important.
People buy property here because they want to own their dream home in a great living environment and that is readily possible. There are so many great projects here to choose from, the property prices are very competitive and rivalry between developers keeps those pesky maintenance charges down. The important thing to keep in mind is that you are buying a property, not renting it, so get as much help as you can from the professionals (us!) and any legal advice you require. You are investing in your future so make sure you get everything right!
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