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Dubai off Plan Properties

What to Ask When Buying Off Plan Properties?

If you’re thinking about buying a new home, some developers may offer you the opportunity to buy off plan properties. We’ve explained a little more about what buying off plan properties entails, as well as detailed these questions for you to use on your purchasing journey.

What is Buying Off Plan Properties?

When you buy off plan properties, you are purchasing it before it has been fully built by a developer or before building has begun. You may also have the ability to participate in the property’s style or design, which may ultimately influence how the end product looks.

Is it Easier than Buying Ready Property?

Purchasing off plan properties is very similar to purchasing a completed property. The primary difference is that there is nothing to see physically, and you will have to wait longer for your new home to be completed.

Questions to Ask Yourself

Here are some questions you should ask yourself before buying off plan properties.

Do You Want to Live or Invest?

Of course, this applies to anyone buying something for the first time, but it’s still crucial. While the prospect of a brand new house in a new development is tempting, you must ensure that it is located in an area that meets your present and future needs. You should also consider what it will be like to live on a construction site while work is still being done.

How Much Can You Afford?

Being financially secure is important when purchasing a home for the first time in any situation. When buying off plan properties, you should double-check how long your mortgage offer will be valid with your chosen lender. To account for any construction delays, you may need to request a longer length of time.

What is The Potential?

If you think you’ll be moving again in the future, you should compare the property’s resale worth to the price you’ll be paying for it. Other considerations, such as the property’s location and popularity in the neighborhood, will influence whether or not it will appreciate in value. So, before you go out and buy something, make sure you do your homework.

Questions to Ask From the Developer

These questions are worth asking from developers while buying off plan properties.

What Personalization Options Are Available?

As previously said, while purchasing off plan Properties, you may have the opportunity to personalize your new home by specifying kitchen, bathroom, and flooring options. However, not all developers will provide information, so if you’re unsure, ask them before making any inquiries. If this is still an option, it will depend on where your new home is in the construction process.

What are the Completion Dates?

You should inquire about the realistic completion dates for your developer’s off plan properties so you know when you might be able to move in. Most developers will provide dates based on the state of construction; for example, before the roof is installed, a calendar quarter will be provided; nevertheless, once the home is decorated, you will be informed of the week it will be ready.

Are There Any Guarantees?

Because buying off plan properties can take a long time, you should inquire about any guarantees or warranties offered by the developer, and whether they will be affected or extended if your property is delayed in construction.

Are There Any Deals Available?

Similarly, if you reserve your plot, you should inquire about any special offers they may have. Developers may pay your legal fees or even provide reductions off the asking price if you’re buying off-plan for the first time, in addition to personalization possibilities.

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