It’s everyone’s desire or dream to have a home, but not everyone has the financial capacity to purchase one. Developers all over the world and most importantly, in Dubai see this issue by incorporating the idea of off-plan property. It is an ideal platform for those with a lower financial capacity to get their dream home.
Just recently, it was declared that over 4.7 million people visited Dubai within the last two years, and it isn’t new how many numbers of individuals and family are relocating to Dubai. It results in the need for a home and the best way to achieve that on a low budget is through the off-plan property.
Albeit, the idea of purchasing a house that only exists on cardboard doesn’t sound or look real, but over the years, it has proven to be one of most significant opportunity for expats to get the home of their dreams.
Why Invest In Off-Plan Property?
One of the benefits of spending your money on off-plan properties is that they come very affordable and less expensive compared to acquiring a completed building. It appears to be on paper when pitched to you by developers the idea is convincing with the platform to pay the money at one’s convenience.
It has lower prices, so individuals are allowed to invest with the little they have as upfront with an agreement to pay over a stipulated period of months or years. It has feasible payment plans to ensure that investors don’t have any issue with payment.
All that matters is that you will get the home you desire without you having to break the bank. You can choose any payment option that suits you, and that makes it quite better than ready properties where you have to pay up the money before getting the property.
Investing in the off-plan property is very promising when it comes to the aspect of return on investment (ROI). There is every tendency that the value of any property is likely to appreciate irrespective of when you intend to sell. You can decide you want to sell before the completion of the building or after the building must have been completed.
Some factors contribute to the value of a property such as the location and the landscape. It is why you need to look out for areas that you are sure will get developed within two to three years so that you get more profit when the property is up for sale.
High Rental Yields
Income on rental business is one of the primary keys to making more profit on real estate business. The increase in the numbers of people visiting Dubai leads to more demands for a residential apartment. Investors can make more money on their property, especially with the event EXPO 2020 that is going to take place in Dubai.
There is an estimation of over 2.5 million individual going to come all around the world for the event, and most of them will need an apartment to rent. Demand will be high and more profit will it be to investors. Getting an off-plan property very close to where the event will take place is a high activity that will yield greater income.
Lower Upfront Cost
Do you know the just small amount of money, you can get your desired home and that only works with the off-plan property? You don’t have to pay all the money before you own the house, all that the developer wants is to make life bearable, and that will cause you to pay an affordable upfront. Although it has its disadvantages, the fact that you will soon be a landlord at your convenience is worthwhile.
You don’t own property without paying for it, and that only applies to ready property and not with off-plan. Developers give a flexible payment, which is appealing to those interested in the property, and the fee can be remitted based on the agreement with the developer and the buyer. The goal is to ensure that the buyer can acquire the property at their convenience.
In conclusion, it appears as though it is the perfect option for those who dream of having their home but incapacitated with money. It is an excellent opportunity for them to own their desired home, but it has its setback such as delay, market fluctuation, and delay in return on investment. The setbacks aren’t a cause for discouragement if you can invest with a trusted and reliable developer.