Many people who buy off plan property in Dubai think they will be getting a bargain. They are quite right about this. They may be able to get a piece of the action, but is it really a bargain? Well, quite honestly, it may not be the bargain you are thinking of buying a property in Dubai with off plan property. So let us have a look at a few of the reasons and some of the options available for you when buying off plan property in Dubai.
paying property taxes on an off plan property in Dubai could turn out to be a problem. Well, the city did seem quite foreign to me at the time and therefore, did not know what to look forward to. I was actually thinking how on earth would Dubai get its property taxes? Well, wasn’t surprised when later discovered that there are no real property taxes in Dubai at all.
In fact, the only real property tax that the authorities in Dubai have been the indirect tax that you pay every time you use a public amenity such as a swimming pool, cinema, hotel etc. In other words, when you avail of any service provided by a commercial entity in Dubai, you pay an indirect property tax. The indirect tax is based on the revenue of the entity. This means that the money you pay to the government ends up in your pocket, directly or indirectly. So, if you do not have properties in Dubai that you want to use, then you will end up paying the property tax.
If you do not care about your budget and wish to make the most of your investment, then you can forget about planning. However, if you are careful and have a strategic planning then you may be able to save a lot of money on this tax. One of the first things that you need to plan out before investing is, what are the plans for the future. This will help you in determining how many units you can build, how much they should cost etc. Therefore, it will also help you know when you can begin construction.
One of the biggest mistakes made by people planning to buy an off-plan property in Dubai is that they tend to take too many breaks. You see, while planning to buy an off-plan unit in Dubai you should always take breaks in order to enjoy your stay here. Sometimes, you may feel that you are running behind schedule and may not finish your work by a particular deadline etc. In such situation, take a short break from your work and enjoy your Dubai holidays.
Planning to buy a property in Dubai can sometimes turn out to be an overwhelming process for the people. So, take it easy. Just plan it in steps. First, decide the number of rooms that you want, the size of each room and the prices for them. Once all these decisions have been made, you can now divide the entire property into different categories like residential, commercial or an open land option.
Dubai properties are sold and bought according to their plan. There are many companies dealing in real estate in Dubai that help the buyers get their property charted. This saves you from spending lots of time looking for a developer. You can ask for a chart from your local real estate agency or a developer. They will chart it according to your needs. After getting a property charted, start planning to buy that off plan unit. You can also have a look at the port de la mer apartments in Dubai.
Finally, before purchasing any Dubai property always consult your lawyer. He would help you decide whether your planned building is within the area. Or, it may create a big problem later on. It’s better to go through planning procedures with your lawyer before purchasing. He will provide you a good guidance during the process of planning and designing your dream dwelling.