{"id":805,"date":"2018-01-07T13:53:27","date_gmt":"2018-01-07T13:53:27","guid":{"rendered":"https:\/\/www.mortgagefinder.ae\/blog\/?p=805"},"modified":"2025-05-27T14:51:04","modified_gmt":"2025-05-27T14:51:04","slug":"renovating-old-or-buy-new-villas","status":"publish","type":"post","link":"https:\/\/www.mortgagefinder.ae\/blog\/renovating-old-or-buy-new-villas\/","title":{"rendered":"Can old properties turn into golden opportunities?"},"content":{"rendered":"

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As the Dubai villa market matures, the emerging factor influencing buyers is now new versus older properties, says Simon Baker, Managing Director at haus and haus<\/p><\/blockquote>\n

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Having grown up in an English village, in a home over 250 years old, Dubai has always been \u2018brand new\u2019 to me. The idea that any property less than 15 years old could be considered as old was difficult to get my head around.<\/p>\n

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Regardless of the way we choose to categorize a property\u2019s age, villas and townhouses built over a decade ago certainly require some TLC and, in all cases, would benefit from an upgrading of internal finishes to bring them to a level that by today\u2019s standards can be classed as a luxury.<\/p>\n

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Many of the villas and townhouse transactions we complete as a company are between an investor seller and end-user (typically finance) buyer.\u00a0The fact that many of these properties have been rented to multiple tenants over the last decade has, for all but the most astute professional landlords left these homes in a slightly sorry state. Whilst the structures are usually very sound, the use of cheaper materials was from a period pre-2007 when prices were significantly lower \u2013 and things are now looking tired.<\/p>\n

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But then again, is this the only reason they look so dated or is it that the world has moved on and now expects an increased level of luxury? I suspect a combination of the two. By comparison, the same developers are today using much a higher caliber of internal finishes \u2013 this is naturally a big draw for Mr & Mrs end-user looking for the perfect family home.<\/p>\n

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This leaves all owners with a decision to make; Invest money in upgrading the older villa with the hope of increasing its value, or sell in \u2018as-is\u2019 condition.<\/p>\n

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The word \u2018upgraded\u2019 itself is a term used very loosely by brokers trying to express that their property has in fact been freshly repainted and as such is worth more than their next door neighbour\u2019s identical unit type.<\/p>\n

\"\"<\/p>\n

While leaving a property in good condition is a decent starting point, the properties attracting a true premium are the ones with high-quality upgrades \u2013 kitchens and bathrooms being high on a buyer\u2019s agenda.<\/p><\/blockquote>\n

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The demand for these renovation works and fit-outs has grown, in part due to the softening of the market in the past three years \u2013 meaning homeowners are more inclined to stay put and upgrade rather than sell to buy new again.<\/p>\n

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My waffle brings me finally to the question at hand \u2013 why would you buy a fifteen-year-old home in need of renovation if there is a brand new one just around the corner?<\/p>\n

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Well, everyone has slightly different priorities when it comes to buying their perfect villa, however, plot usually appears high on the wish list.\u00a0How big is the garden? What about a pool? How is the outlook and direction? Is the property overlooked? Is it a favorable orientation north to south?\u00a0Does it apply to the principals of Vastu?<\/p>\n

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At the risk of making a huge generalization, most of the newly completed and under construction options available today feature smaller plots than their older contemporaries.\u00a0 As such, the demand for villas with large, well-situated plots is bigger than ever \u2013 buyers are realising that the \u2018brand new\u2019 options will also slide into the old category in a few short years, and with a huge range of companies now offering home improvements, refreshing the interiors is no longer as challenging as it once was.<\/p>\n

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For those who can\u2019t decide between all the ready properties, a third option presents itself \u2013 provided the home isn\u2019t required for occupation soon \u2013 and that is following the route of investment buyers by purchasing off-plan.<\/p><\/blockquote>\n

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Increasingly flexible payment terms are making the required fifty percent cash portion of the purchase more palatable with smaller down payments and construction linked installments.\u00a0This method provides the potential for a growth in capital whilst being able to move into the dream \u2018brand new home\u2019 upon completion.\u00a0This is clearly a popular option; figures for the first ten months of 2017 show 18,000 off-plan transactions as opposed to only 9,000 ready units.<\/p>\n

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In Dubai all that glitters can be gold, and buyers are voting with their wallets when it comes to purchasing the new versus old. As a company, we have helped numerous end users understand all the options open to them.\u00a0Much of the time this involves a trip around the metaphorical block just to arrive at the same place we started at.<\/p>\n

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This is what we are here to do, to guide and advise on every step of the process. Not just to find a home that suits, but to ensure that you have eliminated all the options and can rest assured you are one hundred confident in your decision.<\/p>\n

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Written by Simon Baker Managing Director haus & haus<\/p>\n

View our properties..<\/a><\/p>\n

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TALK TO US<\/strong><\/p>\n

mortgagefinder.ae<\/a> is part of the Propertyfinder Group of companies<\/a> and is the single most successful mortgage consultancy and introducer in the UAE. Our advisors are professionally trained and accredited, each with several years of local mortgage experience. Each year, we help hundreds of families buy their dream home in the UAE. Most of them referred to us by other satisfied clients. We are here to help!<\/strong><\/p>\n

Get pre-approved now >\u00a0<\/a><\/p>\n

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  As the Dubai villa market matures, the emerging factor influencing buyers is now new versus older properties, says Simon Baker, Managing Director at haus and haus   Having grown up in an English village, in a home over 250 years old, Dubai has always been \u2018brand new\u2019 to me. The idea that any property […]<\/p>\n","protected":false},"author":1,"featured_media":809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[3,6],"tags":[],"yoast_head":"\nIs it better to renovate an old villa or buy new one?<\/title>\n<meta name=\"description\" content=\"What makes more sense for UAE property buyers? Buying a new villa or renovating an older one? 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