Buying off-plan or already built: what's the right choice?
Would you like to invest inreal estate in Dubai, but don't really know what type of property to buy? There are several solutions. Today, we're going to focus on two of them: buying off-plan and buying a "ready-to-use" apartment, freshly finished (or even old). We'll explain the advantages and disadvantages of each solution, and then we'll get started!
Buying off-plan - buying old in Dubai: the differences
As the name suggests, buying off-plan means buying an apartment based on architectural plans. The residence has not yet been built, or may be under construction (to be completed in the coming months or years).
On the other hand, buying existing or ready-to-use property involves investing in apartments, townhouses or villas that are just waiting for you to move in. They're already up and running, and you can move in as soon as you've got the keys.
The advantages of ready-built apartments
Buying a ready-to-live-in apartment is an advantage in terms of confidence. You can study and inspect the premises yourself. You'll be able to make sure that the studio, 1, 2 or even 3-bedroom apartment you visit really suits you.
The second advantage is that the target property is ready to move into. In other words, you can move in as soon as you've got the keys. You don't have to wait months or even years before you can move in. This is a significant advantage, especially for investors looking to make a quick profit.
Finally, buying an apartment that's already been built is often the assurance of benefiting from an already well-established community. Properties are located in well-developed neighborhoods, with infrastructure and amenities to make you feel at home. You'll have quick access to schools, restaurants, small shops and even parks!
The advantages of buying off-plan
What are the advantages of buying off-plan ? Firstly, novelty. Quite simply, with an investment like this, you can be sure that you're buying a property that no one has ever occupied before. You'll be able to move into a brand-new space that's yours and yours alone!
The second big advantage is the price!Off-planprices are often lower. Developers are quite flexible and offer very attractive discounts. Sometimes you don't even have to pay the notary's fees (DLD )! This is a major advantage for people on a limited budget or who are more interested in long-term investment.
In addition to price, there's also the question of payment plan and financing. Here again, off-plan purchases are advantageous, as payment terms are generally longer. This eases financial constraints for investors, who can smooth out monthly payments.
When to choose between ready-to-use and off-plan housing?
So what should you choose? Investing off-plan or investing in a home that's already up and running? Ultimately, it all depends on your objectives. If you're a small family and want or need to find a home quickly, then off-plan seems a more attractive option. The same applies to investors who want to make a quick return on their investment.
Buying off-plan, on the other hand, is an excellent opportunity for investors with a longer-term vision. Prices are more affordable, payment methods are more flexible and the apartments are brand-new, often in exceptional residences.
Dubai Immo, supporting you
At Dubai Immo, we can help you find and buy your future home, be it an apartment, villa, off-plan or other. Our Dubai-based teams know the local real estate market inside out, and will find you the property that perfectly matches your needs and desires, whether in terms of location, size or price. So don't hesitate to contact us for more information!
You can reach us by phone at :
- +971 56 367 2667 (Dubai line)
- +33 7 56 82 82 73 (French line)
Or send an email to [email protected]!
