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Posted By Edge Realty
Your most asked off-plan questions, answered
Purchasing off-plan properties is a big decision for many people, and having unanswered questions can make it difficult to keep a clear mind. You don't have to wonder any longer, because we've compiled a list of the most frequently asked off-plan questions, along with the most precise answers we can provide.
What exactly are off-plan properties?
Off-plan properties are projects that are currently under construction.
What are the potential benefits of owning off-plan?
Purchasing off-plan properties allows you to make flexible payments and often comes at a lower cost. One of the primary reasons for purchasing an off-plan unit is that you will receive a brand new unit that you can ensure is exactly to your liking during the snagging process. It also reduces the amount of wear and tear on a building or unit as it ages.
Can foreigners buying off-plan real estate in Dubai?
Yes, anyone can buying off-plan properties in Dubai.
What exactly are payment plans, and how do they vary from mortgages?
Payment plans are provided directly by the developer and allow buyers to make payments throughout the construction phases and sometimes even after handover. It eliminates the need for banks and loans in this manner. If you still need a mortgage, you can get one from the developer at a lower interest rate.
Can I sell an off-plan property before paying the full purchase price?
Most developers will let you sell your home even if you were unable to complete your payments. It's critical to read the fine print and understand what your contract allows and does not allow.
Is it safe to buy an off-plan property in Dubai?
Buying property in Dubai is highly regulated, with numerous laws in place to protect the buyer. Investing with a well-known developer gives you peace of mind that the product you purchased is exactly what you'll get.
When will you see a return on your investment?
You can put your property on the market to find a tenant as soon as it is built, snagging is finished, and it is finally handed over.
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