Things To Know About Off Plan Properties
2 min read
What does it mean to buy a home before it’s fully built? Off plan property is purchased while it is still under construction or even before building begins. This type of buying process is different from moving into a finished home.
Review the builder’s past work:
One of the first things to check about an off plan property Dubai is how the builder has completed previous projects. Looking at their earlier developments shows how the finished product might turn out. It may also give an idea of any delays or changes that occurred during construction.
Check what’s included in the final price:
Off plan listings often display a price based on certain details. Check which features are included, such as flooring, fixtures, kitchen units, or appliances? Some homes are sold with basic finishes, while others include more complete setups. Reading the full breakdown helps avoid surprises later.
View the floor plan and 3D models:
Since the home is not built yet, buyers usually receive floor plans or digital models. These show the layout of the home and how rooms connect. If available, walk-through videos or model units give a better idea of the space being offered.
Ask about construction timelines:
It is common for off plan homes to take months or years to finish. Ask for a clear estimate of the expected handover date. Timelines may shift, so having a flexible plan and regular updates from the builder is useful.
Review the payment schedule:
Payments for off plan property are often made in stages. The first part is usually a booking fee or deposit, followed by instalments based on building progress. Ensure all payment steps are listed clearly in the agreement.
Check legal documents and approvals:
Every off plan project should have the necessary building permissions. Ask to see proof of approvals and registration. The sales agreement should clearly state the buyer’s and builder’s responsibilities, as well as any refund or compensation terms in case of delay.
Think about resale rules or restrictions:
Some off plan properties come with resale limits. These rules may stop the buyer from selling before the handover or within a certain period. It is helpful to ask about any such rules early in the process.
