When you buy a home, there is a crazy idea that a lot of people have never even heard of, and this is to buy one that doesn’t exist. Sounds weird, right? Well, it could be a gateway to owning the ultimate property. Investors typically avoid this type of property like the plague because of the bad reputation that it has. They say that you run the risk of paying way too much for the place, and that you need to be able to take a look at the property you are buying before you actually spend money on it. However, there are many risks with investing in just about anything, and this is no different. Buying a place off the plan basically means that you buy the house before it has been constructed. You are literally using the virtual home, or the architect’s dream of the home to make your decision, without actually walking through the house in a physical capacity prior to purchasing it.
You Get To Save On Certain Taxes
If you don’t do your research on Dubai off plan properties, you are going to end up running a huge risk. To succeed in this type of endeavor you need to ensure that you do the right amount of research. If you do, the perks are many. One of the best reasons to go ahead with this type of investment is the amount of money you can save on stamp duty. This is big cash burner, especially when this is your first real investment property. You can also enjoy the benefits of the depreciation of the value of a home. If you invest in a place like this and then lease it out to tenants, you can actually have taxes deducted by thousands of dollars. A quantity surveyor is usually able to calculate just how much you can save and then give you a proper schedule for the depreciation of the place. You can use this to get reduced taxes.
You Save On Maintenance Costs
If you don’t buy Dubai off plan homes, you will buy a house that has been built and used for a while before this. This type of old home typically has a whole range of things wrong with it. You will be responsible for paying for the repairs on the place as well as carrying out frequent, regular maintenance procedures. This can lead to a lot of expenses.
If you do buy a place off the plan, you get to enjoy brand new fittings that won’t need replacement or repair for a while after the construction has ended.