SHOULD YOU INVEST IN OFF PLAN PROPERTY OR IN COMPLETED PROPERTY IN DUBAI?5 Jun 2019
More and more off plan properties in Dubai are being created. And many investors are eyeing these projects. But is it a wise decision to go for these kinds of properties rather than ready-made or completed ones? Investments in real estate are a hard challenge to our decision-making. One wrong move and you waste everything you worked your life for. But when you hit the jackpot, the taste of success will be sweet. In order to know which real estate properties to put your hard-earned money on, you should learn and compare the advantages of investing in Dubai off plan projects versus completed properties before making your decisions.
Why Invest in Off Plan Projects
Off plan projects are becoming quite popular these days. And investors are comfortable in purchasing such properties from developers as compared to buying already completed buildings. Here are some of the reasons why:
- It is the better option for those with lesser budget for investments since they don’t have to shell out a huge amount for down payments
- A lot of developers in Dubai are offering little to no down payment for their off plan projects, which is perfect for small-time investors
- The total amount of an off plan property is also spread out over a number of years, making it easier to pay the affordable monthly installments
- Your gains on off plan projects are expected to increase over time, especially when the location of your building has a great future
Unfortunately, there are also disadvantages when purchasing off plan projects. These include being at the mercy of developers, where projects are delayed and building are of lower quality than you expect. This is why you should do your research thoroughly when you plan on investing in off plan Dubai properties. And be prepared to accept the risks involved.
Advantages of Investing in Completed Property
While off plan projects are becoming quite popular, ready-made properties are still a top investment option for many investors.
- Investors with a ready budget still choose completed properties to invest in since they will be able to receive the property instantly
- They can move in or rent the unit out any time they want, which will give them immediate return on investment
- They can also inspect the unit as it is being built, and soon after completion, making sure that the building is of the quality that they were promised
No matter what your decision in investing is, it is always crucial to do your research since risks are always involved.
Now, if you want to lessen such risks, have a team of real estate experts help you out. Contact Zawaya Property now and know which property investments are perfect for you!