An off-plan purchase refers to the acquirement of a building/property prior to it being finished. Therefore, there is essentially no “right one” as there are indeed a few risks associated with all of them, but here is how you choose that perfect off-plan property in Dubai one for yourself.
1: Select a Trustworthy Developer
This is really the key element in making the right investment decision. Typically, the cons associated with this type of investment ranges from the project not being finalized on time, to different finishes than what was promised and even the developer going bankrupt! But if you conduct enough research, you’ll tend to feel more at peace with the one who has a long and healthy track record when compared to the one who has a short and sketchy record. Off plan projects by Meraas and off plan projects by Emaar are some of the reliable projects you can invest in Dubai.
2: Check the location
Once you have decided which real estate developer to invest with, ascertain what location best suits you or your goals. Dubai real estate agencies can be very helpful in directing and advising you on the trendy, up and coming projects as well as the projects in high demand.
3: Assess The Development Layout and Master Plan
Due to the fact that you cannot look, touch or feel your way around, you should insist on acquiring fundamental information such as dimensions so that you can gauge how big (or small) your property would turn out to be – because no one likes a nasty surprise! Also, ask about the overall plan for the project as that can affect your property. For instance, some off plan projects by Dubai Properties offer amazing views – what if your view from your apartment is subsequently blocked within the next few years because you didn’t pay attention to the fine print? That’s why make sure you inquire as it never hurts to ask a question.
4: Available Payment Options
You must determine that how do the financial anticipations of the project line up with your financial responsibilities. Even though such projects require a down payment, they also come with flexible payment plans. Therefore, you’d need to consider your options prior to signing any contracts.
5: Analyse the Contract
It is always best to go over any contractual agreement with a lawyer before you sign the final document. The lawyer can point out important aspects of the document which need clarification.