Whether you are a budding investor, contrarian investor, or looking to buy your own home, it is necessary to understand the real estate market from various dimensions so that you make an informed choice, so you do not regret in the future. Every real estate investor is searching for a property that comes with negligible risks. This is never guaranteed, but more and more people realize that by buying property off-plan, they can give themselves the maximum chance of success.
Off-plan property is referred to as unconstructed property purchased straightforwardly from a developer or in some cases the first owner. Reserving an off-plan site is one of the finest ways to secure a property for buy-to-let investors due to the potential to increase and to ensure returns in comparison with their initial investment. Buying an off-plan property implies you consign to purchasing a property either before or during the phase of construction. Buying an off-plan property provides you with a third option to personalize your property’s design to one that realizes your dream, while it’s being built.
Buying an off-plan property OFFERS several advantages. Some of them are as under :-
It helps you make a plan and save your money.
It facilitates buyers to choose the best apartments in a particular development. In exchange, you can earn the highest return on your investment. You start off paying a small deposit, and your future payments are preferably based on a construction linked payment plan. You get to spend a significant portion on handover, and currently, a lot of developers suggest a post-handover payment plan. This allows you to plan and organize your cash outflow consequently and also with the post-handover payment plan you don’t need to take any mortgage saving you a lot of money.
You can sell the property before the completion date.
It allows investors to get a purchase deal at the initial and lowest possible value and buyers to select the excellent apartments in a specific development. On making a particular percentage of the complete payment, you are permitted to resell and create a good profit gain on the total amount paid during the construction process.
You get the least upfront costs.
Off-plan property payment strategy can and do vary from diverse types of developers in Dubai. Some of the developers only require a 10% down payment and the rest linked to construction.
It is very significant to note that you should have the required future payments well-thought-out as per the payment plan, so you don’t evade on the property.
When many people think about having an off-plan property, they usually think of the time they have to wait for the build to complete as a negative point.
In real-time, though, this is a significant benefit for most investors, as it gives you ample time to organize your purchase. This minimize the mad rush to finish all the paperwork that usually comes with purchasing any property. This is mainly used if you require time to restructure your existing portfolio and sell other properties.
Select Specifications & Units
Another benefit of having an Off-Plan property is the freedom of choosing your preferred unit. If you’re delighted with the location and real estate developer, you generally have an option of a particular site, area, features, rooms and much more. Furniture packages are also available for those searching to quickly get their home easily.
Obviously, Off-Plan properties are new or refurbished builds. This guarantees a contemporary build which benefits from advanced features like energy efficiency, environmentally-friendly specifications and other requirements that new builds have to apply to. This usually leads to cheaper bills for tenants and potentially higher rental prices.
If you are thinking of off-plan property investment, the experience of a seasoned developer could be a significant factor in your decision to committing with the ideal deal. In fact, you should look for a reputable developer having a portfolio of previously completed successful developments. SpareFoot is a renowned real estate agency in Dubai, UAE having tremendous experience of 12+ years. They make sure to give honest opinions and integrity in finding the most suitable site that you may call your home.SpareFoot under Mr Arshad Mulla is your answer to all worries and querries regarding investing in off-site property in Dubai. You can quickly look for your desired flat, apartment or villas in your dream location and filter the results as per your choice. Sparefoot provides a facility to compare prices and features of Dubai’s latest off-plan sites by providing you detailed information about every project without much effort. You can also directly contact some leading property developers using our call back feature. You just need to provide your contact details, and your journey for investing in Dubai’s off-plan property starts from here. Our selected developer will call you soon. There is no middlemen or agents involved in the entire process. You can access our LiveChat feature to chat online with our property advisor to get a rapid response. Your property search has become more comfortable with Sparefoot! We help you grab the best deal for your investment property.