Jun 29, 2022

Off-Plan or Ready Properties? 

Off-Plan or Ready Properties?                  | Properties Qatar #3669 - 1  image

Off-Plan or Ready Properties? 

 

As a buyer or a real estate investor, there are certain things you need to keep in mind as you start the process of looking for your next property. Wether it’s the location, size, type or price of property, there are many things to consider before embarking on such a decision. However, the biggest and most crucial question to ask yourself is whether to buy off-plan or ready property.

Under construction or what is called off-plan properties are different than ready to buy, in terms of price and development. Under construction properties are purchased at very early stages of development before it’s built. Once the building is purchased, the buyer will start paying for the property in installments. Most of the time, the installments are done on a 5-year payment plan or less. This option has encouraged many people to buy and enter the real estate market, as the need for large capitals is no longer necessary. In addition to the flexible payment plans, off-plan properties are significantly cheaper than ready properties. 

  Developers of the off-plan properties, would often create different ways to make it easier for the buyers to imagine or picture their future property. This can be done by creating 3D pictures of the property itself or creating mock up units that resemble how the actual property will look like. This has made it easier for buyers to decide on buying off-plan properties, since they feel more confident about signing off on it without seeing the actual property. 

As for ready properties, they are an easy and simple investment. The buyer can move in directly or get the return of the investment as soon as it is rented.

 

The question is when to buy ready or off-plan property. The following criteria will help you decide which type of property to choose, 

  • If you are looking for a Low Price Property, it is a very known fact that the prices of the off-plan projects are significantly lower than those of ready properties because it is under construction
  • If Flexible Payment Methods are what you are looking for then off-plan projects are for you. Since with off-plan projects the property is not ready to move in or rent out, they come with a long term and easy installment plan. The buyer only has to provide the down payment of 10% upfront, which makes it a perfect option for anyone who wants to invest in real estate but doesn’t have enough capital for a big purchase.
  • If Return Of Investment quickly matters to you, then ready projects are more suitable in this situation. However, if you invest in an off-plan projects then the ROI is usually higher once the off-plan property is ready.
  • If Making A Profit from the property is essential to you, then off-plan is the way to go. Off-plan properties go up 30% from their original price point. Which means the buyer will make a profit from selling the property once to is delivered

Qatar has provided a variety of options in order to suit the needs of different buyers. Lusail city for example, has recently launched many ready and off-plan projects in different areas. This makes the city the first destination for anyone looking to buy or invest in properties. 

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