Useful Tips To Buy Off Plan Property in Dubai

Understand The Prices

This point works for every type of property and everywhere in the world. Still, 30% of first-time home buyers just settle on the asking price & swanky interior of the home. This could be an expensive mistake for you, I mean you can negotiate with the seller.

But before negotiation, you need to understand the property price. For this, know the per sq. ft. price in a particular area or community. This will help you to understand the actual price of the property and make you understand what you are paying for.

Tips: If you buy property in Dubai from reputed developers like Emaar Properties, Damac Properties, Sobha Realty etc. then there is no chance to pay more than the property price.

Check The Legitimacy Of The Project

One of the biggest drawbacks of any off-plan property in Dubai is you cannot check the construction quality (if the property is recently launched), fitting & fixtures, and many other factors which are important for trouble-free living. But one thing you can check is the legitimacy of the project, and this legitimacy is an assurance that everything will be best in quality and timely delivered.

You can check the legitimacy of the project on the Dubai RERA/DLD website. Again, an off-plan property in master communities in Dubai like DAMAC Lagoons, Creek Harbour, and Palm Jumeirah from reputed developers comes with every assurance that you need for trouble-free luxury living in Dubai.

Know About The Location

When it comes to investment location matters and when it comes to your day-to-day life then locations matter a lot.

How?

Location is the factor that decides how much ROI you will get in the future and only a good location in a well-developed or under-developing neighbourhood can provide you proximity to roads & transportation, market, malls, commercial development, and schools & colleges. So, when you are planning to buy any off-plan property, always do research about the location. You can discuss with real estate agents & other agencies to know about future developments and proximities from important zones etc.

Check The Developer’s Reputation

Not every home seeker pays attention to this point, but just like other factors, it is very important. Especially when you are buying property in a different city or country where you have no idea about the real estate market. The best thing you can do is, check the developer’s reputation and then explore their projects.

Now the question is what we can check in the builder?

You can check their old residential projects, whether are they delivered on time or not, and what are the appreciation rate, construction quality and satisfaction level of their existing buyers. All these factors are great to find the best developer.

Scrutinise The Project

Your responsibility is not to end by checking the developer’s reputation, but you must examine the property that you have selected for your off-plan property in Dubai. Here I personally suggest you if you are looking for an apartment, villa or townhouse then prefer a gated community. The reason is here you will get the best security features and high-end community’ common amenities like a swimming pool, gym, park, daily necessity stores etc. All these factors also increase the possibility of high ROI.

Know About The Property

Before sealing the deal on off-plan property in Dubai, you must check the possibility of resale and rent. There are many physical points in a property which you need to check and then put a step ahead. For instance, you much check the layout, if the balcony is available or not, and the number of bathrooms and parking spaces. And how I can forget to mention about views, in Dubai views from the property are considered one of the biggest USP, so you can check this point as well. All these factors increase the liveability and high rent & ROI.

Hire A Real Estate Agent

Most home seekers think that property buying is a very easy task they can do without any help or assistance. But if you are looking for property especially an off-plan residential property in Dubai then I suggest you please do not hesitate to contact an experienced real estate agent.

Because you are new here and have no idea about the micro market, available inventory, and price. Only a real estate agent can help you here.

Now you think about the fees of a Real Estate Agent.

Let me make it clear that you do not have to pay anything for a real estate agent.

Then who will pay?

Most of the real estate agents in Dubai are working on a commission basis which is paid by the seller or builder.

Discuss Payment Plan In Detail

Before signing the EOI paper of any off-plan property in Dubai, you must discuss the payment plan with experts. Know how much you need to pay as booking amount, how many instalments & gaps between each instalment and what happen if you fail to pay any instalment and there are many questions like these that you must clear beforehand.

There are many best payment plans available in Dubai with the best residential developments like the Damac Safa Two payment plan of 20:70:10 where you need to pay 20% as a down payment, 70% in small instalments and the last 10% on possession. There are many developments where you will get a post-handover payment plan. So, discuss and choose wisely.

Read The Contract Thoroughly

Last but most important point. Read the contract thoroughly before signing. You can take the help of any property investment advisor or lawyer to make sure that there is no hidden term & condition exist that may restrict you to modify, sell or rent that property.

If you are looking for the best off-plan property in Dubai then Dubai Housing can help you not only in finding the best home as per your requirement & expectations, but also find the best deal, payment plan, site visit and best after-sales services. As a channel partner of reputed real estate developers like Emaar Properties, Damac Properties, Sobha Realty and Azizi, they find you the best home in the best community.

Conclusion

In a few words, buying an off-plan property in Dubai is the best & smart real estate investment for you. But you need to keep in mind upper mentioned points to avoid some mistakes that can turn into disasters.  Always deal with a reputed real estate developer, under the guidance of the best real estate advisor company to avoid any mess.