The choice between an off-plan and a ready-made property in Dubai depends on various factors such as your investment goals, budget, timing or personal preferences. But even with all these factors, how to decide whether to buy a ready-made property or a property under construction? The experts of the real estate agency "Mayak" told in detail the pros and cons of each option.

Difference between an off-plan and a ready-made property

Off-plan properties, also known as pre-construction properties, are properties that are still under construction and have not yet been completed. These properties are often sold by developers at a lower price in comparison with ready-made properties. Investors typically buy these properties based on the developer's plans, drawings, and specifications, and often need to wait several months or even years before the property is ready for occupancy.

Ready-made properties, on the other hand, are properties that have already been constructed and are ready for occupancy. These properties are often available for immediate sale and move-in. Buyers can visit the property, inspect it, and make an offer if they are interested.

A view of the apartment complexes in Dubai

Factors to consider when deciding which option is better for you

  • Price

Off-plan properties are usually sold at lower prices in comparison with ready-made properties. This is because buyers are taking on more risk by investing in a property that is not yet complete. If you have a limited budget, an off-plan property might be a more affordable option for you.

  • Customization

Off-plan properties often offer more customization options than ready-made properties, as you can work with the developer to make changes to the layout, finishes, or features of the property before it is completed. If you have specific preferences for the design or layout of your property, an off-plan property may be the better option.

  • Timeframe

If you need a property quickly, a ready-made property might be the better option. These properties are already constructed and ready for occupancy, so you can move in or start renting them out right away. On the other hand, off-plan properties will require a longer wait time, as they are still under construction and may not be ready for occupancy for several months or even years.

  • Payment plan

Off-plan properties often come with flexible payment plans that allow buyers to pay in installments during the construction phase. This can make it easier for buyers to manage their finances and invest in a property that may otherwise be out of reach. Ready-made properties, on the other hand, often require a larger down payment.

  • Location

The location of the property is an important factor to consider. Ready-made properties are often located in established neighborhoods with existing infrastructure and amenities. In contrast, off-plan properties may be located in up-and-coming areas with the potential for future growth.

  • Risks

Both off-plan and ready-made properties come with risks, and it's important for buyers to carefully consider these risks before making a purchase. Off-plan properties may experience construction delays due to a variety of reasons such as labor shortages, supply chain disruptions, or unforeseen circumstances. Ready-made properties may come with unexpected maintenance or repair costs, especially in older buildings. Another problem may be hidden issues that were not disclosed during the inspection process.  These costs can add up over time and impact the property's value.

Ultimately, the decision between off-plan and ready-made properties in Dubai depends on individual circumstances and investment goals. It's important to do your research, consult with a professional, and weigh the pros and cons of each option before making a decision.

Specialists at Real Estate Mayak Agency will give you a detailed evaluation of properties and help you choose the best option.