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Off-Plan vs Ready Properties – Which Offers Better Value for Money?

Posted by Luxury Link Properties on December 22, 2023
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Buying property can be split into two types: Off-Plan and Secondary.

Off-Plan properties are bought from the developer before they’re built or while they’re still under construction. Secondary properties, on the other hand, are already built and are sold by someone who already owns them.

Which one you choose depends on what fits your money plans and investment goals.

Why go for Off-Plan?

  • Off-plan properties are frequently less expensive than ready-to-move-in residences.
  • Price appreciation is more & you can make you more money in the long run.
  • You’ll have fewer extra costs because you won’t need to pay for things like service or maintenance fees before handover.
  • You can sell before the project’s done, usually after you’ve paid at least 30% of the property cost.

Also, you get flexible payment plans with Off-Plan properties. Usually, you can pay as little as 1% of the cost each month after you’ve paid a certain amount upfront.

Disadvantages: Remember, since these places aren’t built yet, Building delays are frequent in off-the-plan properties, which may be upsetting for both end users and investors alike. Buyers are effectively buying a home without assurance that the actual finished project will fulfill their expectations. Although there are contracts that bind the developers, there’s always a chance that something will go wrong.

Choose a reliable Real Estate Brokerage like Luxury Link Properties . They’ll give you the real story about developers so you can make the right choice. Make sure they care about quality, not just selling. Make sure you choose a trusted developer known for doing good work on time.

Why choose Secondary?

  • If you want quick money, this might be better for you.
  • These properties are ready to live in or rent out immediately.
  • You can start renting it out right away for a short or long time and start making money back.
  • Sometimes, these places are already rented out when you buy them, so you make money from day one.

If you turn your place into a holiday home, you might make even more money. In some parts of Dubai, short-term rentals made up to 20 – 30% profit in 2023, while long-term rentals were about 8%.

If managing rentals seems tough, some companies, like Luxury Link Properties , can handle everything for you, from setting up the place to managing customers and the property.

Disadvantages: Ready properties are typically priced higher than off-plan properties, as they offer immediate occupancy and convenience. Ready properties may not appreciate in value as much as off-plan properties, as the initial discount has already been taken by the first buyer.

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