Townhouses for sale in Abu Dhabi

The UAE’s capital city offers a plethora of options for homebuyers and investors wishing to invest in Abu Dhabi real estate. While villas and apartments tend to be the most popular property types to look into, townhouses are also well sought-after properties, especially for those looking for additional privacy and space. If your eyes are drawn to townhouses, here is a guide to follow to help you secure the property of your dreams.

Budget for Fees and Deposits

Before you can even think of buying an Abu Dhabi townhouse, you need to ensure you’ve got the funds readily available. The first step is all about budgeting. Knowing your budget should be the first thing you do before purchasing property in Abu Dhabi. Be aware that there are other fees you’ll have to pay aside from a deposit. This includes any agent fees.

Mortgage Pre-Approval

The next step to take is to secure a mortgage. To get approved, you’ll need to provide the bank with an array of paperwork. This normally includes a salary letter from your work, any salary slips you receive, 6 months of bank statements, and a passport copy with both a visa page and photo. Other documents you’ll need include a copy of your emirates ID, a copy of current credit card statements, and in some cases, proof of address. Make sure to get all these in order before going any further. 

Organize Insurance and Find Your Townhouse

It’s advised to begin the life insurance process at this stage too. It’s mandatory for practically every lender and will take roughly 3 weeks. Building insurance can normally be taken out in-house with your lender and they typically come at the same price. Once you’ve got pre-approval, it’s time to search for your townhouse. You can check out Bloom Holdings where you can find an Abu Dhabi townhouse for sale. Their Bloom Living is set to be a gated community that will feature over 4,000 homes, including a selection of apartments, villas, and townhouses. Regardless of what townhouse catches your eye, make sure you pay a visit to check out the property before committing. You need to be confident you’ve made the right decision.

Sign Memorandum of Understanding

Once you’re satisfied with the townhouse and agree on a sale, the next step to take is by signing a memorandum of understanding. This lays out the cost of the transaction, when it’s going to take place, as well as all the other finer details. First-time buyers must be careful taking this step. This is because there is a ton of technical information, and should you not meet your transfer date, there is a risk of losing your deposit. 

There are a multitude of reasons why to consider buying a townhouse in Abu Dhabi. Known for their additional security, jubilant lifestyle, variety of options, and brilliant amenities, once you follow the guide above and take the right steps, you’ll eventually land on the townhouse you’ve been looking for.

By Rehan

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