# Advice needed...Buying property (discovery gardens)



## Hassli (Feb 7, 2011)

Dear all,

We plan to purchase a property in discovery gardens for AED350000 payable for 5 years. We find discovery garden ideal if you have kids..
I have heard in the news the news that property sector is still down especially on the areas where there is oversupply such as discovery garden. 
Do you think AED350K is areasonable price for a one bedroom apartment mogul 9. Or shall we wait next year? 
What are the necessary paper works to be done and paper we need to complete the sale like transfer of title deed, sales agreement, what else? We are expats and this will be the first time to purchase a property in dubai (if ever)
Are they any charges that we need to pay in discovery like association fee etc which comes in having a property in that area?

Your experience and advice counts..

Thanks a lot


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## ash_ak (Jan 22, 2011)

What little I know, prices are definitely not going up in the next year, the economy is still stuck here in first gear, remember you still have to pay yearly maintenance fees so calculate how much that costs.
Unless the economy overheats in 5 years time, you won't be able to offload that property for a profit, specially in discovery gardens.


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## Jumeirah Jim (Jan 24, 2011)

Can't comment on price but are you sure disco gdns is a good area to buy? What do you think it will be like in 5-10 years? It sounds like a risky investment IMO. 

Service charges (aka association fees) are notoriously high in DG. I've heard of many landlords there who pay more in charges than they collect in rent. You really need to find a lot more out about this, and the buying procedure, before making any decisions or your plans could become seriously unstuck....


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## Tropicana (Apr 29, 2010)

i am not sure DG is that good a place, and that too Mogul cluster which is the most remote cluster, away from SZR, shops and restaurants.

There are also some particular buildings where maintenance is a problem, or buildings which are adjacent to single worker dorms. That too wouldnt be that good for families. 

and while prices may go uo in well mainatined areas or buildings, chances of that happening in DG are remote


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## Hassli (Feb 7, 2011)

Thanks for advices.. Greatly appreciated...


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## M.A.K (Sep 14, 2011)

I wouldnt go for DG either... Also currently the market trend is for the buyer to pay commision, title deed money and misc. documentation exp. so it usually costs around 5% of the purchase price.


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## INFAMOUS (Apr 19, 2011)

No Dice.


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