Choosing the right Off Plan Project in Dubai
Hi all! Been a busy start to February so I haven't had a chance to write in a while. No excuse I know!
So in my last post I covered how you should go about choosing the right real estate broker for your next property search. Following that in this post i wanted to give you all a bit of information on how to choose the right off plan project in Dubai.
As I’m sure most of you would have noticed there are literally dozens of developers operating in Dubai. Some of these have only one project on offer whilst others are able to offer you a large number of projects in all different areas of Dubai. Needless to say, knowing which developer and project to choose can be a very daunting process.
So how do you go about choosing the right off plan property project?
The way I see it the best way to start answering this question is by first identifying your buying reasons. What i mean by this is asking your self whether you are looking to buy an off plan property because its somewhere you want to live or whether you are buying simply for investing purposes. If you are buying because this is where you wish to live then you will need to pay close attention to a host of factors you normally wouldn't be to concerned with if you were buying with no intention of ever living in the property.
Some of the things you would need to consider if you were buying because you wanted to live in the property are:
Which area is the project in and would you want to live there?
Size and layout of the apartments available. Can you see your self living there?
What facilities are available?
What will be the property finishes and are they to your liking?
Buying an off plan property purely for investment purposes will require a different and a far more methodical approach. Since you have no intention of ever using the property the things you should be concerned with look something like this:
How likely is the property to appreciate in value?
How easily and how much will you be able to rent the property for?
What are going to be the ongoing costs associated with holding the property?
Once you have established your reasons for buying then its simply a matter of viewing the projects available and picking the one that best suites your buying purpose. With that its also very important to look into the developer behind your preferred project. Find out about their reputation in the market and look into their past projects. If everything looks good and the developer stacks up you are good to go.
As always please feel free to reach out If you would like to know more about this subject or find out about the latest off plan projects available in Dubai today.