BackIf you are new to Dubai’s real estate market, you may be confused by the different property types available here. The two broad categories of assets include ready-made and off-plan properties. Some of the best villas, apartments and townhouses in Dubai are ready to purchase.
What Are Ready Properties in Dubai?
Ready properties include finished projects where buyers or tenants can move in immediately. Sometimes, these properties are pre-owned and the buyer has to purchase them from their previous owners.
Advantages of Buying a Ready Property
Buyers can leverage the following benefits by buying a ready home.
- These finished properties are situated in prime locations with fully developed facilities.
- The customer can physically inspect the home and make an informed buying decision.
- An investor can rent out the property and start generating rental income immediately after the purchase.
- Banks usually offer a more favorable loan-to-value (LTV) ratio when customers apply for mortgages against ready properties.
- The buyer can leverage high returns when the market price of their property rises.
What Are Off-Plan Properties?
Off-plan properties include new constructions. These may be new homes undergoing development or newly launched projects with master plans and tentative timelines. Unlike ready properties, off-plan homes require some time before buyers or tenants can move in.
Advantages of Buying Off-Plan Assets
These are the advantages of purchasing an off-plan property.
- Off-plan homes are often cheaper than ready-to-buy assets.
- Buyers can access exciting offers from developers and enjoy flexible payment options.
- The down payments on off-plan homes may be lower than that on ready properties.
However, many experts encourage buyers to exercise caution while purchasing off-plan properties. There is a degree of uncertainty in these projects, as there may be delays and other unforeseen issues. A buyer may purchase an off-plan home if they have plenty of time and are ready to withstand market fluctuations.
Off-Plan or Ready Properties: Which One Should You Buy?
The final choice depends on the buyer’s unique needs. You can explore numerous ready-to-move properties in Dubai according to your tastes and preferences. However, if you are getting an excellent deal on an off-plan development, you may consider buying that instead. We suggest contacting an experienced agent to understand your options in the real estate market. They can take you through the exciting ready properties available in communities like Jumeirah Golf Estates, Dubai Marina, Arabian Ranches, and more.
With their help, you can check out established properties. These experienced brokers can also connect you to previous homeowners to help you learn more about your chosen property. All these interactions can ultimately help you make a well-informed decision. On the other hand, you may consider off-plan properties if you have the time to wait or an opportunity for a great deal.
Contact the LuxuryProperty.com team for more information and support as you navigate the exciting property market in Dubai!
Furthermore, explore some of the finest properties in Dubai.
With their help, you can check out established properties. These experienced brokers can also connect you to previous homeowners to help you learn more about your chosen property. All these interactions can ultimately help you make a well-informed decision. On the other hand, you may consider off-plan properties if you have the time to wait or an opportunity for a great deal.
Contact the LuxuryProperty.com team for more information and support as you navigate the exciting property market in Dubai!
Furthermore, explore some of the finest properties in Dubai.