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How to Buy Off Plan Properties in Dubai 2021

One is a chance to buy below the price of the market. Also, before completion, the value of the property will always increase. A big fast profit, therefore. Hold on, not everything! Before moving into this investment, there are many things to remember. Here is a guide that helps you pick, learn, understand on How to Buy Off Plan Properties in Dubai 2021. What are the actual factors you need to take into consideration buying Off-plan properties in Dubai 2021?

Hire An Agent

Since, when you are buying an off-plan property, you are generally buying it straight from the developer (unless it is an off-plan property for sale in the secondary market), there are many reasons for which you should employ an agent.

Currently, hiring an agent doesn’t mean that you go and recruit the next agent you come to, you need an advisor who knows the business and knows how to distinguish between a good and a bad off-plan investment.

Sometimes, an agent suggests that you invest in a specific property off-plan and later leave you alone after the transaction has been made. Please note that the acquisition of a property is not just a big deal. But, as long as you’re involved with this investment, you have to deal with the developer.

The agent you recruit should be able to help you with any concerns and problems you might face in the future.

Understand the Costs

The very first thing you have to note is how much money you need to book the property. It doesn’t mean that you just need AED 2000 to start your procedure, simply because the media says, “become a householder with only AED 2000 / month.”

A booking charge is always payable and ranges from 5 to 25 % of the total value of the land. You should undoubtedly ask your agent/developer about this.

If you have an accomplished and experienced broker who works with you, he/she will help you survive any hard work and difficulty in being denied by a developer where you wouldn’t meet the requirements.

Know the Type of Property

In particular, there are two types of land, commercial and residential property you can purchase. After all, the only 5 percent VAT rate discrepancy that applies to commercial properties is a similar criterion for the off-plan purchase of such properties in Dubai.

Purchasing Commercial Off-Plan

The documents and payment conditions will be like the ones I mentioned above when you buy an off-plan commercial property in Dubai. The biggest difference is the 5% VAT you pay on your purchase price. So, you can pay 5% VAT on the purchase price, in comparison to the registration fee of 4 percent, 2 percent agent commission.

Choose the Area

This is an incredibly critical aspect of the whole cycle. If you don’t mind investing your money in those areas and ventures that require some time to complete it and you can see good value for money in at least eight to ten years, go ahead and buy something at a fair price. If you intend to buy an off-plan property in Dubai , which has already been very well developed, for example, Dubai Marina, JLT, Dubai Sports City, Jumeirah Village Triangle, and Palm Jumeirah. You must take into account the price the developer has given to you.

Yeah, you get a very attractive payment package because when purchasing the property you won’t have to pay 100% but you don’t buy a ready property at the same time.

Nobody knows whether the market will appreciate or decline for the next five years. So the greatest thing you can do is to make sure that you buy an off-plan property that is below its market value.

If you need some clarity or professional consulting about the purchase of an off-plan property in Dubai, You can contact us here at UAE Off-plan and get to know about what you need to know more about buying Off Plan Properties in Dubai 2021.

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