Off-plan property buying refers to the purchase of a property or house that hasn’t been constructed yet. Here are some of the most definitive pros and cons involved in buying off plan properties in Dubai.
Off-the-plan properties are generally cheaper in several ways. Most real estate companies offer a flexible payment plan, which means you can get a higher-priced house than what your current budget allows.
Not all people are keen on the idea of buying a house that hasn’t been built yet. However, therein lies the opportunity for those who want to get the jump on others. You’ll be the first to choose where you want your house to be and get spectacular views in the end.
Price Appreciation Potential
Off plan properties are good investments since they have a greater chance to appreciate, price-wise. Even if you don’t intend to make it your primary residence, having an extra home leads to many benefits.
Control Over Decor and Fittings
Most developers will give buyers free rein over their preferred layout and fittings. You can take advantage of this aspect by setting up the interior exactly how you want it, down to the furniture and decor.
There Could Be Delays
Not all off-plan property construction goes according to plan, and there might be inevitable delays once they start. As such, you’ll need to be prepared to move in at a later date until the house is finished.
You Can’t Move In Yet
Off plan properties fit those who still have a current home they can reside in until the building is completed. The wait is usually worth it, as your new house will have the exact details and specifications you want. Staying at a temporary home or renting for a few years might be a necessary move when buying off-the-plan properties.