Undoubtedly, real estate can be a good investment in Dubai to save money and get prominent profit. But it can be risky at the same time if you are unable to understand the trend of the market and its demand. A new way to invest in this field is becoming popular which is termed as off-plan investment. If you have ever researched investing in real estate in Dubai, you may have seen plans with installments or something like that. Those plans are called off-plan property investments. Because of the easy and simple purchasing method, it has become a great way to invest for everyone.
But you still need to perform little research to understand the benefits of this investment plan. This blog will make it easy for you to accomplish this task by listing 6 benefits of off-plan properties. Let’s get started!
6 benefits of off-plan properties
Undoubtedly, the off-plan property in Dubai has multiple advantages for every investor. Doesn’t matter whether you are a big real estate investor or a medium one, you can get benefits from it. To give you a quick overview of the benefits of off-plan properties, we have enlisted a few here.
1. Low Price Purchases
If you have been connected with the real estate field, you must have seen new properties have lower prices in the beginning. It is done to attract people to that specific town or housing community. Through off-plan investment, you can buy a particular property in a new housing community at reasonable rates. It makes the chances of getting profit higher because you will get a property at lower rates.
After that, you can sell that property at higher prices once the construction has been completed. No doubt, it may take time for the growth of a new housing society. But once the society has been constructed, you will see exponential growth in the value of your investment.
2. Prominent Capital Growth
Capital growth is a common term that almost every investor knows. No doubt, an investor wants to invest money in the property from where they can get higher capital growth. It is almost impossible to do so in already-built housing societies. The reason is pricing in those places will not raise prominently after the completion of the project. But you can avail this opportunity by taking part in the off-plan property investment.
It has been seen that the properties bought at lower prices get instant growth in value once the construction started or is completed. So, it is right to say that off-plan property investment can be a good approach for enjoying prominent capital growth.
3. Flexible Payment
Do you know what is the main problem faced by investors while buying a property? It is a one-time payment for the property they want to buy. Not every investor or buyer can get such resources for buying a property that they are going to sell after months. It is because no one wants to put their investment in such projects. This is where off-plan property investment can be a good choice. Through this plan, you can get the opportunity of flexible payments by which you can pay the dues in installments.
In simple words, you only have to pay a small amount as an advance to book your property. After that, you can go with a flexible payment plan to pay dues for your property. It is considered one of the best benefits of off-plan properties.
4. Brand New House/Land Ownership
When you are looking to invest in real estate, you might be curious about getting a well-furnished apartment or house. It may not be possible in small investments to do so. Thanks to off-plan property investment that can help you in this regard. By utilizing a plan like this, you can avail this opportunity through this payment plan. When you are investing in a new housing community, you will get a brand new house or land to acquire. It means that there will be no deduction in the reselling amount because your property is well-furnished and new.
We can say that off-plan property investment can help you in getting a new property at almost no cost. The reason is you have to pay in installments which will be easier as compared to a one-time payment plan.
5. Custom Construction Opportunity
No doubt, this opportunity isn’t available in every off-plan property investment. But you can also get this facility by asking the construction company with which you are connected. Sometimes, such companies ask investors to be part of the construction process and share their advice for custom construction.
It means that you can ask the management to construct your apartment or home in a custom with a custom design. In this way, you can easily get a home that you have dreamt of. If you are an investor, you can also get a chance to increase the reselling rate by asking for a unique and different design for your home.
6. Easy to Sell
The list of most profitable benefits of off-plan properties includes easy-to-sell facilities. It is common for a buyer to explore new housing societies once they are built to buy a house or apartment there. So, you won’t have to struggle a lot when you are looking to sell your property.
It might be possible that you will get approached by customers to get your property. But if someone isn’t approaching you, a real estate dealer can help you. Such dealers are always looking for such sellers who have properties in new communities.
In short, you can easily sell a property that you have bought through an off-plan package. It will be simple for you to earn a profit by selling because you don’t have to struggle a lot for finding a buyer.
Precautions while buying a property on off-plan
No wonder, the off-plan property package has multiple benefits. But it has risks at the same time like loss of investment, no reselling ratio, and many others. So, you should take some precautions while buying a property in this plan. First of all, you should make sure that the housing society you are investing in is approved by authorities. It means you should check whether the housing authority has approved that society or not.
Secondly, you should check the background of the investor who is starting that project. By doing so, you can understand whether you are joining some authentic investors or not. So, you can step back if you found any scam or related problems in it. Last but not least, you should check whether the project has one investment plan or multiple ones. If you find multiple plans with the same payment method and duration, you should avoid such plans. It is because you may get scammed by multiple builders which will be a loss of investment.
Final Verdict
By reading our blog, you must have got an idea about the benefits of off-plan properties. We have explained them clearly with a brief description in this guide. Along with this, we have shared some precautions you should take before investing in such projects. It is up to you how you evaluate a project for saving your investment. Don’t fall prey to illegal projects because you will waste your time and money instead of getting something back.