In addition to the purchase price, there are a number of fees that clients have to pay, which we would not call hidden costs, as they are discussed during the process of buying a property. However, they can be overlooked or forgotten. Typically, these fees can be around 7% of the total value of the property.

Some of these are, but are not limited to

- 2% plus VAT brokerage fee

- Four per cent DLD fee

- Conveyancing fees

- Conveyancing fees

- NOC fee - usually paid by the seller

- Compensation for early removal of tenant

- There may also be fees for finance buyers

- Bank processing fee - on average 0.5-0.7% of the loan amount

- Valuation fee - averaging Dhs3000 plus VAT

- Two types of insurance are payable

 - Bank-arranged property insurance (annual fee usually averages 0.04% of the property value) and life insurance (average monthly payment of 0.018% of the mortgage amount).

As you are buying a property to live in, it is important to put personal reasons above financial ones. Of course, you want to make sure you pay a fair price for your property, but your enjoyment and satisfaction should be the primary focus. You should love the place and make sure it meets your needs to get the most out of your investment.

While Dubai is experiencing a proliferation of new communities, many are still under construction, which means you will have to deal with noise, lack of amenities and travel to established areas for essentials.

When it comes to property values, location is crucial. An older building in the city centre may be more expensive than a new building in the Marina, but that doesn't mean it's better for you. In addition, the reputation and presence of the developer will also affect the value of the property.

Before making any decisions, ask yourself these questions and assess how the property fits into your lifestyle, preferences and budget.

Mohammed Laith Kalomar is a Betterhomes Sales Consultant. The views expressed are his own and do not reflect the policy of the newspaper.