the tips that a real estate investor should consider
In the market of UAE, Following are the tips that a real estate investor should consider when buying an off-plan property
1 / Getting Advice before buying
It is wise to get advice from a real estate consultancy licensed by regulators before buying an off-plan property. Here he/she will get data about the specifications of the property they are planning to acquire. Real estate consultancy is a vital step for the buyer to make a good deal, especially since there are many choices in the market, and many real estate brands, as in UAE market.
2 / The Reputation of the Developer
The buyer should select a real estate developer with a good reputation. In Dubai, it is easy to know about any real estate developer. Investors have several channels and many tools through which they can verify the reputation of the developer as well as their history.
The history of real estate developer can help in clearing everything out such as his commitment to completing projects on time. The Dubai Land Department keep a special register called Real Estate Developers Registry, with the name of the real estate developers that are licensed. Developers are not authorized to practice unless they register and have a license obtained from DLD so that they comply with the conditions.
3 / Return on investment
Return on investment or ROI is one of the most important considerations that an investor must keep in mind while buying an off-plan property. ROI varies according to the conditions of the market. With ROI ration of 7-9%, Dubai is one of the cities with the highest return on real estate investment in the whole world.
4 / The project site
It is important to buy a property in a prime location, as it has all the services that a resident may need, including hospitals, shopping centers and schools. It is advised to be close to a road network that connects well with the rest of the city. The floor in which it is located and the view it provides must also be taken into consideration.
Therefore, the buyer is advised to make the right choice when it comes to place, before signing the contract, be aware of all the details of the property, in terms of its location and closeness to public transport, markets, hospitals and schools or universities. You are advised to visit the project site and ask for specific details from the residents.
5 / Quality of the property
The quality of the property is also very important when thinking about buying an offplan property. This includes the quality of the location in which the property is to be built and the availability of the important services. You must pay attention to the finishing and the materials used in the construction of the building. These may not be same as what is described by the sales agents, brochures or images. Such hints can be avoided by going to see the other projects done by the same developer.
6 / Completion rate
The ability of the real estate developer to deliver the property matters. The shorter the time period between the promised date and the hand out date, the greater the reliability of the developer, which must be taken into consideration when buying an off-plan property.
It is very important to check the credibility of the real estate management companies and check their history for their track record if they are committed to delivering the project on time or not. It is advised to visit the site to check the progress of work from time to time.
7 / Payment plans
The buyer must specify the price of the property agreed upon, and the payment plan as well. It should be noted that real estate developers add the interest to the selling price. It is vital to mention the expected completion date in the off-plan real estate purchase agreement and the compensation that the developer will provide in case of any delay.
8 / After-sales service
The buyer must specify the price of the property agreed upon, and the payment plan as well. It should be noted that real estate developers add the interest to the selling price. It is vital to mention the expected completion date in the off-plan real es
After-sales service is an important part of real estate assets management, and it boosts customers confidence when they are set free from routine and procedures, such as clearing property documents after purchasing, or ownership changing and so on.
tate purchase agreement and the compensation that the developer will provide in case of any delay.
