Normally, the buyer of the best off plan properties in Dubai has multiple choices. The first choice for buyers is that they can use the property for living purposes, but this is not possible if the property is not developed enough to meet living goals. The second choice is renting such off-plan Dubai properties for good return on the investment. Lastly, the investor can always sell the property at its current market price and enjoy the capital gain on investment.
How To Buy the Best Off Plan Properties In Dubai?
It is normal for investors to sell the property through a Dubai real estate agency during the construction stage itself and use the capital gain to invest in another property. The other property may provide better opportunities forcing them to sell off the earlier one to arrange for the liquidity. Another reason to sell the off plan property may be to avoid paying the maintenance charges after completion.
What factors should be considered while buying off plan properties in Dubai?
Before investing in off plan properties, one needs to be very cautious. Your first step is very important when you intend to buy the best off-plan properties in Dubai. If the first step goes wrong, all your successive steps will be affected and you may suffer a major loss in investment. So don’t take undue risk by contacting unauthorised agents for purchasing a property. Always choose a reputed Dubai real estate agency, and official brokers because they will guide you better. Depending on your budget, you can decide to invest in villas, apartments, or town houses.
Is it safe to invest in off plan properties in Dubai?
The idea of investing in the best off plan properties in Dubai seems captivating due to the lower entry prices but there are hidden risks as well. The risk is bigger because low prices often lure inexperienced buyers to invest in such projects. It’s advisable to consult an expert like NobleHorizon to mitigate the risk factor. In Dubai, you can find multiple off-plan projects for sale but all of them may not be suitable for investment. To make the most of your off-plan investments, you need to hire aDubai real estate agency with a good track record. They can give some very useful tips, especially to first-time buyers.
How To Purchase the Best Off-Plan Properties In Dubai?
You need a solid plan of action before investing in off-plan properties in Dubai.
Extensive Research of the Developer
It is very important to know the developer offering off-plan Dubai properties. There are many ways to research a developer. You can talk to fellow buyers who have bought such properties. They can give a reference to some highly reputed developers in Dubai who have delivered quality projects in the past.
The image of a particular developer among buyers, and the feedback they provide, will give you enough idea whether the developer is reliable or not. You can also see online reviews of developers to know what type of projects they have delivered and whether they are trustworthy or not. You should consider two very important aspects that need to be researched:
- The track record of delivering past projects
- The quality of construction.
Expect Delays in Off-Plan Properties
One common problem faced by buyers while investing in off-plan Dubai properties is the long delays in the completion of projects. It has been observed that in almost 50% cases, there is a delay of a year or more in handing over the projects. There are also instances where projects have been cancelled entirely! So if you wish to invest in the best off-plan properties in Dubai, be prepared for the delays and be thankful if you get the project on time.
Assess your Financial Health
In most off-plan projects for sale in Dubai, developers ask for 20-80% of the payment to be made in advance. Subsequently, at the time of completion, the balance payment has to be made. The most popular payment plan opted by investors is 50/50, where initially you are supposed to pay 50% and the remaining 50% when the project is completed. This particular payment option provides financial security to investors. Ideally, you should assess all the risks before you make the decision to invest.
Be Vigilant against Cuts in Quality
You should not be carried away by attractive websites and glossy brochures, as these are just marketing tools and no guarantee for a good quality product. This is where the past track record of the developer and your research skills matter. Ensure that after promising an exclusive property in an off-plan project, the developer doesn’t cheat you by compromising the quality. If that happens, your investment may go in vain. It is important that the developer you choose also cares about their reputation.
Conclusion
It’s not easy to decide which developer offers the best off-plan properties in Dubai because there are so many uncertainties involved with such projects. Although there are many reputable builders in Dubai, like Emaar, Damac, and Nakheel, when it comes to judging them, it’s a pure gamble. The best option for the investor is to conduct thorough research on the developer, gather as much information as possible, consult other buyers, read online reviews, and consult experts like NobleHorizon before plunging into such projects.