5 Common Mistakes to Avoid When Investing in Off-Plan Properties in Dubai

Reputation of the real estate developers matter in every property dealing anywhere. But, in Dubai's off-plan market segment it sets the foundation for a firm foothold as a property buyer or investor. 

The basic logic (the fundamental fact) is that no real estate developer gets to make a niche for themselves without developing and delivering stunning properties in posh communities, on a timely basis, with professional integrity. Keep this fixed on your mind. In Dubai, real estate developers are plenty in number. They crop up every week, in fact. 

So, the ones who enjoys a distinguished identity have:

• Sustained several challenging years with excellent deliverances
• Respected the value of time by timely delivering the purchased properties to the buyers
• Maintained professional integrity with honest dealings and promised deliverances.
• Stayed attuned to the latest building trends and desired amenities for offering luxury living solutions in smart and modern communities. 
• Thinking out-of-the-box real estate solutions and walking the extra mile to offer the best in Dubai. 

Reputation in the Dubai real estate market is not earned overnight and with average offerings. This is why whenever you decide to go for off-plan properties ensure to check the projects by reputable real estate developers only. They Deliver what they Promise!

Some notable real estate developers in Dubai are Nakheel, Emaar Properties, Meraas, DAMAC, Sobha Reality, Select Group, Ellington, Omniyat and Deyaar. Explore these developers and more with APIL Properties. 

You must be frowning while reading this point. Please don't. When we are enlisting this point in the list of ‘mistakes to avoid’ we are doing it for some reason for sure. Be open to understanding the reason. 

Real estate developers will not present you with options outside their brand offerings even if those off-plan projects might suit your situation the best. Even though they are honest and have a reputation, they are the Businessmen who want to sell their units, not others’.

They use their vast knowledge of local market trends, their competitors and pricing of comparable properties for their growth and strategic development. Do you expect them to educate you about it and make your path to their competitors?

It is not the responsibility of the real estate developer’s team to do A-B-C-D analysis of their contracts with you. If you, in your pride to do everything single-handedly, fail to understand the complexities and legalities of the terms during the contract review then it is your problem. Not theirs. Legal issues and hassles might crop up down the line or you might feel denied or wronged wrongfully as you failed to understand their terms in the correct light.

Though reputable real estate developers usually are upfront about their hidden costs and charges, your novice negotiating skill often can lead you to pay unnecessarily extra. 

So, what to do? Get the help of a duly registered and reliable real estate agency while buying an off-plan property or any property category in Dubai, like APIL Properties. 

They offer professional real estate brokerage service besides other relevant services with their access to market insights, negotiation skill, legal counselling, and real estate expertise.

Payment plans of certain off-plan properties can be quite challenging to understand. And, like already mentioned, it is not the full-responsibility of the developers to explain repeatedly. For example, one off-plan unit had a payment planLike like as follow-

Total payment the buyer had to make was AED 4,160,000 plus other fees. Now, do you see how complex it can be? 

Take time and do your calculations and research before just jumping with joy checking the property price of the off-plan project. Plan and then proceed.

Location matters more than even amenities. Yes, Dubai accommodation choices and office spaces in communities will surely come with several urban lifestyle amenities by default. Missing one or two from the list is still okay but, compromising on location is a costly mistake you cannot make up for without having to get rid of the property altogether. 

Do you have children or are you planning to rent your property to families with kids? Schools, Nurseries, Parks, Medicine Shops and Healthcare facilities should be around if not all these are available within the gated communities. Schools, for example, should be nearby. 

Are there public transport choices available around? You might have a private car but your tenants might not have one. Or, surely you haven't got a different car allotted to each family member, have you? Public Transportation conveniences must be there. 

• How far is your office or business site from the project site? 
• What major infrastructure is already there and is about to take shape in future?
• What are the recreational facilities around?
• How far is the nearest gas station? 
• How far away are the tourist areas? Will it always be noisy with tourist traffic?
• How is the road connectivity there? 
• How far are the markets for daily necessities located? You won't eat Gucci branded clothes at meal time, will you? 

Think About All These Questions Your Location Needs to Answer. 

Doing research of your own to understand correctly the market forecast for each type of property in different locations by different developers in Dubai can be a big financial loss. The proposals of the communities and the knowledge about the real estate developers also needs proper understanding. 

If you are an investor then which type of property (a villa, townhouse, studios or family apartment) should yield you maximum returns can best be suggested by an experienced property consultant or an experienced real estate agency who works with such consultants. 

Google blogs and YouTube videos cannot provide you a detailed understanding of whether you should buy one luxury villa or 2-3 studios in the same community or different for earning a better profit. 

Reputed real estate agency is your one-stop address for making one of Dubai’s promising off-plan projects your permanent profitable address, effortlessly and safely. APIL PROPERTIES has been guiding off-plan project pursuits of property enthusiasts for quite some time now. 

If we round up all the mistakes into One Piece of Advice, it would be-> Do Not Try To Be A One-Man Army in Buying Off-Plan Property in Dubai. Plan and Proceed with Professional Guidance.