When purchasing a home in Sharjah, it’s critical to budget ahead of time for the costs. Although obtaining a mortgage in the UAE is very straightforward, there are several additional charges to consider in addition to the property’s purchase price.
Agent Fee
In most circumstances, both the seller and the buyer will use their own agents, which adds to the property’s cost. As an agent fee, you should set aside about 2% of the property’s cost.
Down payment
The down payment is the most significant amount you will have to pay when purchasing a home. In most circumstances, banks need a 20% deposit.
Land Department Fee
Fee from the Land Department – 4% of the purchase price + Mortgage
Mortgage Registration Fee
0.25 percent of the loan amount + AED 290
It’s crucial to consider whether you’re buying a property in Sharjah as an investment or a place to live, in addition to the fees stated above. If it’s the former, you’ll need to include in all the additional costs of equipping the unit. Finally, keep in mind the cost of ownership and maintenance, which you’ll have to pay on an annual basis.
Eagle Hills has a variety of possibilities for you to select from, whether you are seeking for a studio or large apartment of your own, or just want to invest your money in a Sharjah property. Visit our Maryam Island project and find the right property for you.
