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Would you buy in Horizon Tower in Dubai Marina?

Meow64394

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EW NEWBIE

Latest post on 17 September 2012 - 15:07

Me and DH have been in Dubai for a few years now and after spending so much money on rent we want to buy a property as were hopeful we'll be here for many years to come.

We want to buy a 4 bed because we need 1 bedroom for us, 1 bedroom for LO, 1 bedroom for guests and 1 spare bedroom for any future children we may have.

Horizon Tower seems like a fantastic deal and with a great location and I'd like to get some opinions from you all with regards to this tower?

derien

1575

Posts

EW EXPERT

Latest post on 18 September 2012 - 08:49

Thanks for all your honest views ladies. DH wasnt keen on Horizon Tower but I was showing interest because of the low buying cost but it seems its low for a reason. DH has shortlisted the following areas but I think with any place there would be a compromise of some sort. 1. JBR 3 bed= High costs involved on top e.g empower, maintenance 2. Arabian ranches= A bit far out 3. Springs= Small and dated I wonder where most expat homeowners have purchased a property here? Springs villas are in very bad shape

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Genkigirl

324

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EW EXPLORER

Latest post on 18 September 2012 - 08:44

We purchased a 4 bed in JBR in April. Love it! The maintenance fees are high compared to other developments but they are large apartments and the location is excellent. I don't believe the Empower bills are high, less I believe than places like the Ranches etc. So many supermarkets, cafes and restaurants here and the Marina is amazing. We have Marina view and its fantastic! I would avoid Horizon tower too as we considered that but yes had heard bad things from a friend who is an agent. Yes the prices are too good to be true. We bought so that the amount my husband is given in housing allowance is the same amount that we pay in mortgage. A win win situation! Its stressful and someone said to me it will be the most stressful thing you will ever have to do ( I know agree) but we don't regret it! Good luck!

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Cherry ripe49050

970

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EW GURU

Latest post on 18 September 2012 - 06:54

We bought in AR, most of our immediate neighbours are Western owner occupiers, have a few friends who bought in AR and also Green community.

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Meow64394

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EW NEWBIE

Latest post on 17 September 2012 - 22:42

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Anonymous (not verified)

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EW NEWBIE

Latest post on 17 September 2012 - 22:31

No definitely not. You say you have kids, and this is a building where a lot of flat sharing is going on with young singles. I can imagine it won't be very peaceful there. And if, like others say here, the quality of the building is awful, won't recommend it!

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salsB

2725

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EW EXPERT

Latest post on 17 September 2012 - 20:43

Been here a wee while, hubby in construction, we have passed many construction sites and laughs on the shoddy rubbish that is being built. My own option, I wouldn't buy here, time you paid the mortgage, you home won't be standing. <em>edited by salsB on 17/09/2012</em>

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mushypeas29204

2192

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EW EXPERT

Latest post on 17 September 2012 - 17:51

I would look at the other end of the Marina if you are looking to buy. I was chatting to a real estate guy and he was telling me about Princess Tower ( next to the Marriot ) and the apartments are really spacious and you have your choice of a sea view or a full marina which is great. he said that the work is now complete apart from a few minor snagging issues and the car park is being finished but people are already having a look as you are getting alot for your money. I cant remember the price he quoted. As the tower is brand new, You will also get a guarntee on any works which is really good. I personally havnt seen the apartments so I dont know but I might take a nosey next week !

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fjcruiser

542

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EW GURU

Latest post on 17 September 2012 - 16:20

Buying can make sense if financially you will be better off than renting taking into account all the costs of course. From what I gather mainly by way of personal experiences or reading in various press, buying a flat in Dubai has many pittfalls. It seems that most towers will have LLs who are investors, may be living abroad or have become untrackable and have failed to pay maintenance charges over several years resulting in pools being closed or maintenance being kept to a minimum due to lack of funds. Generally buying a flat in a tower would make sense if maintenance charges are reasonable provided everyone pays! I guess it is the same with villas although some areas like AR are mainly owners occupied I believe so it is easier to chase for maintenance payments.You would need to do some serious research to try to find out who are the people living in the tower you are looking at, are they tenants, owner occupied, if tenanted, are LLs here or outside Dubai.....also you would want a peek at the accounts of the company who does maintenance so you know if there is money in the sinking fund or not. I just wonder how easy it is to get this kind of info in Dubai.Good luck!

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Cornish Pixie

2043

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EW EXPERT

Latest post on 17 September 2012 - 16:18

I haven't been recently but from memory I think the swimming was out of use for quite a long time. Also there are lots of units which are inhabited by flat sharers, if you search Dubizzle on rooms to rent in The Marina loads of ads will show up.

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Fairfield10380

544

Posts

EW GURU

Latest post on 17 September 2012 - 16:18

Again, like dibdab, I don't know that much about the tower other than the negative press about a year ago. I believe many of the apartments in the building are owned by the same person/company and they stopped paying service charges which led to the pool being drained and maintenance stopping. The only other thing I know about it is that as the apartments are 4 beds there are businesses in the marina who house their staff there. The woman I spoke to shares her apartment with 15 other people. But that is the sum total of all I know about it! It's a great location. FFx

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dibdab

460

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EW EXPLORER

Latest post on 17 September 2012 - 16:08

I don't know too much about it but I do remember when we almost moved a year or so ago I read a few negative things about it, I think they may have been in terms of maintenance and the pool. However people are always quick to talk about the bad stuff so I am sure there are many good points also. I walk past there quite often and notice that it their car park entrance is often blocked by taxis and other cars pulling in off the main road to pick up, drop off or just wait. Not sure quite how old it is but personally if I was buying I would want to go for a newer building - things seem to deteriorate so quickly here due to shoddy workmanship and that would concern me. Also, call me a cynic but if it is a fantastic deal I would want to know why! Obviously that is what you are trying to do by asking on here so hopefully you will get some feedback from people who live there. I wish I was brave enough to buy here because it kills me throwing so much money away on rent, hope it all goes well for you! :)

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