Many people choose to buy a property for sale in Dubai as a popular real-estate investment. Most of these investors know that buying off-plan properties could be a more profitable case. If you need more information about buying off-plan properties in Dubai, continue reading. Here, you will read about what off-plan properties are and a step-by-step guide about buying off-plan properties.
What are off-plan properties?
If you want to find the answer to this question, you are at the right place. Off-plan properties in Dubai are not ready to move-in properties. While these are cases that you buy before completion and could be used after a certain period, Dubai off-plan properties offer more benefits compared to other properties. Most developers offer off-plan properties at lower prices. More than they are profitable, these properties are highly affordable because of better payment plans.
If you want to buy off-plan property, but do not know how, read the below full guide:
How to buy off-plan property in dubai?
Now that you know an off-plan property is a profitable option to invest in the Dubai real estate market, it is time to learn how to buy an off-plan property in Dubai? Here is a list of steps you have to take to make a successful off-plan property investment.
● Decide about the property type you like when you want to buy an off-plan property.
Off-plan properties cannot be physically viewed. So, you should choose other ways to buy your ideal property. You should decide about the property type, price, location, size, developer, community, facilities, and also your preferred payment plan. If you want to buy a property in Dubai, you have to know that different famous developers in the UAE offer you profitable options.
● Register with a real estate company specialized in off-plan properties.
If you choose to buy an off-plan property in Dubai, it is an easy buying process if you choose an experienced agency to work with. Most of these famous agencies have a long-standing relationship with Dubai developers, so they will offer you many options. Be careful to choose an experienced off-plan agent to represent you with all the needed information and check that everything is in order with the contracts. Also, your off-plan agent must know about all the projects and developers to find the best possible option for you.
● Find the right off-plan property case.
At this level, your agent considers your requirements and needs and finds the best available projects. To choose the right property, you have to check items like payment plans, floor plans, videos, brochures, etc. In addition, some developers offer “Mock Properties” to show the layouts, the materials being used, sizes, and also amenities. In the end, your agent will take you at your request along for a site visit if possible.
● After choosing your ideal off-plan property, visit the agent’s office for more details.
In the next step, you have to go to the developer’s office to choose exactly which unit you want to buy. Also, you have to sign a contract with the developer, named the “Sales Purchase Agreement”. At this level, you have to give a down payment of around 10-20% of the property price, your passport copy, 4% DLD registration fee, and Oqood fee.
● Make the payments of your chosen off-plan property.
Until the handover date of the project, you have to pay the installments based on the payment plan. Most of the time, it is possible to re-sell the property during the contract term, just make sure you completely understand the payment plan terms.
At the end of the contract, the handover will be done. You will be required to inspect the property for any snag issues to be removed. After completion, final payment will be paid to get your access card and keys. Your agent will walk you through the process for everything to go well, and make sure that you can move in as soon as possible.
If you want to invest in the Dubai real estate market, an off-plan property project could be a profitable option. If you need more information about off-plan properties and want to know how to buy them, read the above text. Also, in dxboffplan, our experts are ready to help you with the most appropriate off-plan property case in Dubai based on your situation. Freely ask all your questions online whenever you want throughout the day.