Payment Plans and what does it mean to you?
The word Payment Plan usually crops up when you are looking at Off-Plan Properties. Usually, our clients look to purchase Off-Plan properties as your upfront costs are much lower than that of an existing property and the payments can be made in installments over a period of time whilst the property is being constructed. Hence, payment plans are a very important consideration when buying an off-plan property or rather a property directly from the developer. Although, with a plethora of offers and options available in the Dubai Off-Plan Market today, it can be quite a hard decision to make for a buyer.
Before we delve deeper and de-mystify the types of payment plans available, let us look into what a payment plan for an off-plan project really is:
“A payment plan is a schedule of payments set and outlined by a developer on properties offered for sale within a particular project”
Most of the payment plans have traditionally been construction linked. For example a 50/50 payment plan, simply means that the first 50% is paid during the course of the project construction and is linked with construction milestones. The rest of the 50% is paid at the time of handover of the project.
In the past couple of years a few new lucrative payment plans have been introduced that you can take advantage of. You are able to choose projects that have monthly flexible payments or can make bi-yearly payments as well, and some payment plans are also available several years post-handover; however, these are available only for a limited time on certain projects.
Recently, a particular project such as these fantastic 4 Bedroom Independent Villas in Al Furjan developed by Nakheel, are ready properties with a post handover payment plan. You only have to pay 5% as the first installment and move-in*. The rest is paid over seven years in flexible increments. You are able to own a freehold property whilst paying the amount in flexible installments that is equivalent to the rent you may have being paying earlier.
That is just one example and there are so many types of payment plans and for both an end-user or an investor. Hence, we have conducted some extensive research and analysis projections to show which payment plans work best if you are looking at Off-Plan Projects or even Ready Properties.
You can browse through some of the options available on the link below or you can request a call back from our specialist for more details.
Looking for Off-Plan Properties ? ( Dubai Properties )
The word Payment Plan usually crops up when you are looking at Off-Plan Properties. Usually, our clients look to purchase Off-Plan properties as your upfront costs are much lower than that of an existing property and the payments can be made in installments over a period of time whilst the property is being constructed. Hence, payment plans are a very important consideration when buying an off-plan property or rather a property directly from the developer. Although, with a plethora of offers and options available in the Dubai Off-Plan Market today, it can be quite a hard decision to make for a buyer.
Before we delve deeper and de-mystify the types of payment plans available, let us look into what a payment plan for an off-plan project really is:
“A payment plan is a schedule of payments set and outlined by a developer on properties offered for sale within a particular project”
Most of the payment plans have traditionally been construction linked. For example a 50/50 payment plan, simply means that the first 50% is paid during the course of the project construction and is linked with construction milestones. The rest of the 50% is paid at the time of handover of the project.
In the past couple of years a few new lucrative payment plans have been introduced that you can take advantage of. You are able to choose projects that have monthly flexible payments or can make bi-yearly payments as well, and some payment plans are also available several years post-handover; however, these are available only for a limited time on certain projects.
Recently, a particular project such as these fantastic 4 Bedroom Independent Villas in Al Furjan developed by Nakheel, are ready properties with a post handover payment plan. You only have to pay 5% as the first installment and move-in*. The rest is paid over seven years in flexible increments. You are able to own a freehold property whilst paying the amount in flexible installments that is equivalent to the rent you may have being paying earlier.
That is just one example and there are so many types of payment plans and for both an end-user or an investor. Hence, we have conducted some extensive research and analysis projections to show which payment plans work best if you are looking at Off-Plan Projects or even Ready Properties.
You can browse through some of the options available on the link below or you can request a call back from our specialist for more details.
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