TIPS FOR BUYING OFF-PLAN PROPERTIES

Buying off-plan property in Dubai is saving huge money from your budget. Following these tips you will make the

best  choice for you and  your family.

 Payment Plans

The market price for off-plan properties 10-15% lower than the ready property price and can spread their bulky down payment during the course of construction. The smaller down payment also reduces the risk of the buyer, as most developers are incentivized to complete the project on time as their profits are linked to completion.

Developer

You have to look at the developer’s  past projects and whether they have had timely deliveries with quality construction. A number of fly by night developers have attractive price points to lure clients but cut corners in quality. It’s better to pay a premium and invest with a good developer who pays attention to quality so at the time of handover the property can rent out easily and sell for a premium.

Location

Location it’s very important factor in choosing properties. Make sure your broker takes you to the site of the project before you make your purchase. There are a number of upcoming locations such as Jumeirah Village and Dubai Hills Estate that provide good appreciation possibilities in the future while having great infrastructure connectivity with links to major highways.

Off-plan projects in more mature areas such as JLT, Marina and Downtown are safer investment options but they come at a premium.

Choose the Right Broker

With a number of options to choose from, the role of brokers has become even more significant. They are the ones who give an overall picture to their clients and highlight the pros & cons of every project; often without charging a commission from the client when it comes to purchases from developers. The right broker is one who has an overall idea about the market and stays up to date with the range of different offerings in the market.