Benefits of Buying Off Plan Property in the UAE

Imagine sitting by the window of your brand new home in the UAE, with a steaming cup of coffee and enjoying the grandeur of UAE’s skyline. Sounds so delightful, doesn’t it? While this appears to be quite dreamlike, it can materialize if you carefully search for off-plan properties in the UAE and plan to invest in one. 

Owning a brand new home in one of the world’s most developed and ever-growing countries like the UAE is something anyone can dream of. However, many times, people feel overwhelmed because they don’t have enough knowledge about the UAE real estate market. If you really want to own a brand new home in the UAE, investing in an off-plan property can be the best decision you will ever make for your future. Before discussing the benefits of buying off-plan property in the UAE, let’s first understand what an off-plan property actually is. 

What is An Off-Plan Property?

An off-plan property is an under-construction project that is usually bought directly from a developer without the involvement of any real estate agents. People can invest in an off-plan property even before the construction has started or when the project is in the early stages of construction. 

Benefits of Buying an Off-Plan Property in the UAE

So let’s get back to our question as to why investing in an off-plan property is a great idea. The following are the reasons.  

1. First Owner Pride 

Whether it’s a car, a smartphone, a laptop, or a home, we all love brand new. The joy of owning a brand new thing is beyond words. It multiplies even more when this brand new thing is the home of your dream. From exterior to interior, everything is new and untouched. You will be the first one to turn this house into a cozy home, by adding style and decor of your choice. It gives you a sense of fulfillment that something that started with a dream, a lot of hard work, and long-term planning finally culminated well.  

2. Option to Choose Your Lucky House Number 

When it comes to important life decisions, numerology plays a significant role in determining energy and vibrations. It is especially important for people when they are buying a brand new home in the UAE for the very first time. The sum of digits in a house number can reveal insights into the overall atmosphere and the potential influences it can have on occupants. Choosing a harmonious numerology for your house can promote a positive environment, fostering a sense of balance and prosperity. When you invest in an off-plan property, you have the option to choose your lucky house number. Such a benefit is not available when you buy a resale home. 

3. Option to Pick Your Favorite Location 

When you buy an off-plan property, you have a wider choice to book a unit facing your favorite location, such as a corner apartment, a penthouse, or a villa overlooking a particular view. This means you do not need to compromise on any factor while investing your hard-earned money. You will get the home of your dream exactly the way you always wanted.  

4. Zero Maintenance Cost 

One of the most captivating benefits of buying off-plan property in the UAE is that it has zero maintenance cost. From plumbing to wiring, everything is updated and hence you can move into your brand house with complete mental peace without the fear of any hidden defects or issues. Moreover, almost all developers provide a minimum 360-day warranty for construction defects. So, even if there is any issue after you move in, you do not need to spend a hefty amount for repair. 

5. Customized Layout and Interior 

Many real estate developers allow you to tailor certain aspects of an under-construction home, such as color scheme, fixtures, layout, etc., as per your preference. Since the project is still under construction, the customization doesn’t cost you an additional amount. However, in the case of a ready property, changing the design and layout can cost you an arm and a leg. 

6. Flexible Payment Plans 

Though payment plans vary from developer to developer and some developers may ask you to pay the full amount altogether, almost 95% of developers offer flexible payment plans to the buyer according to their feasibility. In most cases, the buyer pays a 10% to 20% down payment and the rest of the amount is paid in installments till the completion. Hence it becomes easy for the buyer to manage their finances. 

7. No Hassle for Negotiation 

Since you buy directly from the developer, it saves you the hassle of negotiating the price. You can invest without the fear of being overcharged. Furthermore, when you invest in a property that is still under construction or the construction has yet to be started, you get it at the lowest possible price. 

8. No Agency Fee

Since off-plan properties are directly bought from the developer, there is no need to consult a real estate agent and pay a huge sum of money against the commission. 

9. Secure Investment

It won’t be an overstatement to say that UAE’s real estate market is one of the safest options to invest your hard-earned money in. Why? Real estate developers in the UAE are obliged by the government to follow certain rules and regulations for off-plan projects. For example, as per Law No. (8) of 2007 Concerning Escrow Accounts for Real Property Development in the Emirate of Dubai, all developers must open an Escrow Account, where all the amount paid by investors will be deposited. This step ensures that the amount invested by purchasers is secure. And since developers can access the funds in the Escrow Account only after reaching a certain level of construction, they also try their best to avoid any delays in the construction process. 

These are some of the benefits of buying off-plan property in the UAE, the most thriving country in the world. You will explore more such benefits once you take a step forward toward materializing your dream of owning a brand new home in the UAE.