If you are planning to invest in a property in Dubai, the first question that may be asked to you is which type of property you need to invest in. As there are different types of properties, you must be well aware of Ready and Off-plan properties. Although both properties offer advantages depending upon the nature, it is very important to decide which one suits your preference. Thus, this guide is a way to get a detailed comparison between ready vs off-plan properties.
Ready vs Off-Plan Properties in Dubai: What is the Difference?
Investing in a property requires full knowledge. Thus, you must know what are ready and off-plan properties. Ready Properties are the ones that are completely furnished and you can live in it. You can have a look at the final result before finalizing the property. Whereas, off-plan properties are the ones that are still under construction. There is no final product and you will have to wait for the project to be completed before it is available to live in.
What are the Advantages and Disadvantages of Off-plan Properties?
There are a lot of best off-plan properties to invest in Dubai. Before investing in any property, it becomes vital to know the benefits and drawbacks of it. Thus, below we have added the table to help you decide whether you should get it or not:
| Advantages | Disadvantages |
| As these properties are under construction, you usually get them at a lower price. | The biggest problem with investing in Off-plan is that sometimes we get construction delays. |
| These properties have the potential to yield a high ROI. | There is always a level of risk as the final product may not be exactly the same as the initial expectations. |
| You have the right to make it according to your choice. There is a huge customization option available for the property. | |
| Off-plan properties use modern amenities and facilities in their apartments. There are the latest modern architecture designs making your apartments appropriate for living. |
What are the Advantages and Disadvantages of Ready Property?
On the other hand, if you are looking for ready properties, don’t worry. Below is the table that covers the benefits and drawbacks of the same:
| Pros | Cons |
| You get to see the final product before you actually invest in it. | The biggest problem with investing in Ready properties is that they are too costly when compared to off-plan properties. In fact, they are the most expensive properties. |
| As you can see before investing, there is no scope of risk of the product being not similar to the expectations. | There is limited opportunity to customize the property. You will need to accept the property as it is. |
| You can immediately walk in to live in the ready properties and also help in rental generation. | |
| Ready-to-move properties are the ones that are located in established communities and also have existing infrastructure and amenities. | |
| You can enjoy immediate access to schools, health care, and recreational areas. |
Ready vs Off-plan Properties: Which One to Choose?
Now that you know what is the main difference between both of them, you must be thinking about which property you need to invest in. To decide, just ask yourself these questions:
- Why do you want to invest?
- Do you need an immediate house to shift in?
- How much is your budget?
If your reason to invest in a property is just to yield a high ROI then investing in off-plan properties is best for you. However, if you are looking to immediately shift in the house and can’t wait for long, then Ready-to-go properties will best suit you. In addition to that, your budget also holds a vital role. If you hold a high budget then it will be easy for you to get the ready-to-go properties. But if you don’t it might be difficult for you. In such a case you can think of buying it with the mortgage plan. Don’t forget to check the mortgage rates before investing in them.
However, further, we have discussed different considerations that you must take care of while investing in the property:
Considerations for Off-Plan Properties
Below are the considerations that you will need to take care of while looking for the off-plan properties:
- An Investor: If you want to get the property before it gains a value.
- Flexibility: If you can afford the period of construction before the property is completed.
- Customization: If you want the architect or design of the apartment according to your needs.
Considerations for Ready Property
Below are the considerations that you can look at while investing in Ready Property
First-Time Buyers: You will get a clear picture of your investment.
Families: If you are looking for a home right away to stay at
Risk-Averse Buyers: In case you do not feel at ease with the risks of off-plan investments, ready properties are a safe bet.
Conclusion
When you are investing in a property in Dubai, it is very important to have a comparison between Ready and Off-plan properties in Dubai. Depending upon your investment goals and personal preferences, you will have to decide which one to choose. If you need to get into the house immediately and want to check the final product before moving in, the ready projects are best suited to you. They are the ones which are finally out of the construction process. However, if you want to get a high rate of return and also can wait for longer, off-plan properties are best suited for you. They are the one which is still under construction process and needs more time for completion.
