Purchasing a home or an investment property is a major decision, and many buyers are torn between buying a ready-to-move-in or off plan properties in Dubai. The decision is generally based on financial or investment objectives; it is critical to understand the benefits of both in order to make an informed decision. We are all aware of the advantages of purchasing a ready property, such as the ability to physically inspect the property prior to making a potential purchase and to move in immediately after the paperwork is completed, but off plan properties in Dubai has a few additional advantages that should be considered before making a decision.
Modern Design and Construction
In recent years, there has been a significant shift in consumer behavior as we adapt to rapid changes in technology and lifestyle, and this also applies to how we use real estate. Developers constantly learn from completed projects and try to apply what they’ve learned in new projects to make better use of space, which benefits both them and the end-user. Interiors in a ten-year property may not be designed to match our habits in 2022. As a result, off plan properties in Dubai offers the opportunity to have a home or commercial property that is ideal for the current customer.
Between the time the project is announced and the actual handover, new innovations in construction techniques, materials, and interior design will emerge, and the developer will have the opportunity to incorporate them into the project.
Totally New Property
This is the most obvious benefit, and we’ve all heard it: being the first owner of a property is far more satisfying than owning something that has already been used. When purchasing off plan properties in Dubai, you can also specify the view, preferred floor number, or whether you want a corner unit in the case of a villa or townhouse.
Price Competition
This is a critical consideration for both end users and investors. Off plan properties in Dubai are significantly less expensive than ready-to-move-in property. This gives the buyer a price advantage because developers compete on price.
Capital Augmentation
When an off-plan property is handed over, its market value skyrockets. As the off plan properties in Dubai begins to take shape and the surrounding areas’ transportation, amenities, and retail infrastructure improves, the value of the property rises.
Payment Plans and Special Offers
Off-plan development payment plans are linked to construction, which means you don’t have to pay the entire cost up front, but rather in smaller instalments. Many off plan properties in Dubai have a booking fee of only 5 to 10%, and in some cases, the DLD fee is also waived completely or partially, providing the buyer with additional price benefits. Projects with long-term post-handover payments allow buyers to pay for years after taking possession of the property, which is not possible with ready properties unless you buy on a mortgage with loan interest.
Personalization of the Property
Many off plan properties in Dubai allow for minor to major customization, such as selecting colors, flooring, or kitchen layouts based on your tastes and preferences.
Regulations and Safety
Purchasing off plan properties in Dubai is completely risk-free. The Dubai Real Estate Regulatory Authority has put in place a set of rules to protect buyers from delays or project cancellations. Buyer instalments are only deposited in regulated accounts, and developers can access them as construction milestones are met. The off plan properties in Dubai landscape is populated by a plethora of different developers, each of which offers a diverse range of projects at any given time