Off Plan Properties at Better Homes LLC

As one of the UAE’s most established real estate brokerage firms, we at Better Homes offer you the expertise necessary to help you find the ideal property for your needs. Off plan properties are developments under construction that are offered at lower prices than ready properties and at attractive payment plans.

Wish to pay very small deposits until the off plan property is handed over? The good news is that developers are thinking of creative ways of enticing buyers to purchase off plan property. One such way includes waiving off the four percent registration fee for buyers and rolling out monthly payment schemes such as “capital guarantee” and “money back”. Off plan properties offer you the chance to buy a unit at a low price and gain maximum returns when you sell it later, without having to bear any costs associated with actual home ownership.

The government has introduced numerous laws to ensure legal compliance when it comes to off plan property investment. For instance, Law 8 of 2007 requires developers to register their off plan projects with Dubai Land Department and Real Estate Regulatory Agency (RERA) prior to promoting or selling units. In addition, construction progress must reach at least 20 percent completion prior to commencing promotions. When you purchase off plan units that offer an on-completion payment scheme, most of the risk falls on the developer. This ensures that the developers complete the project diligently and on time, mitigating risk for the investor.

Is off plan property the right investment option for you?

The off plan property market has become attractive with a large number of developers offering exceptionally well-priced properties and highly attractive payment plans.

Have the cash for a long-term investment? Then, go in for off plan property. However, if you have a short-term outlook and envision yourself living in the property, then buy ready units that offer fast profits through rental yields and capital gains.

Think you might want to sell the property prior to completion? Then, off plan is the right model for you to cash in on capital growth and avoid the costs of actually owning the property. Moreover, there is also the advantage of a fixed price, which enables you to enjoy appreciation of the total value of the property while making the payment in stages until the project is completed.

What should you look for whilst buying off plan property?

1. Why are you buying? Are you looking to live in it or are you buying Dubai property as an investment to sell or rent out in the future? Knowing this will determine the type and the location of the property you should buy.
2. Ensure that the developer you are buying from has a good track record of delivering projects on time.
3. What are the financing options and payment plans like?
4. Do you have access to expert guidance?
5. At the end of the property search, do you have a well-drawn out sales and purchase agreement by a reliable and experienced real estate agent?

5 reasons to buy off plan property

1. Bargain prices: Compared to other major cities such as London and New York, property prices in the UAE are very competitive.
2. Plenty of options: With numerous new projects popping up in the market on a regular basis, as an investor, you will have access to a wide range of options.
3. Quick capital gains: Buying off plan property allows you to buy a property at today’s price. By the time construction is completed, the property will be worth more than the price you paid for, especially in an emerging market like Dubai.
4. Great rental yields: Despite a slump in property prices since 2014, rental yields in Dubai have remained stable.
5. Savings on repairs and maintenance: An off plan property offers you a brand new home that is unlikely to give you maintenance issues compared with an older property that could present expenses in the form of renovation and repairs.

At Better Homes, we offer a wide selection of off plan properties. Our property search feature allows buyers from across the world to find under-construction properties for sale in Dubai. Each listing features important information so that users can research potential investment opportunities like never before. For enquiries, please call +971 4 409 0991 or email offplan@bhomes.com

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Better Homes: Perfect Property Investment & Management in Dubai

Dubai offers so many great property investment opportunities. Unfortunately, it can be hard to know where those opportunities are, given the wide range of options you are presented with.

For over two decades, our family-owned and operated business has helped investors and property owners to get the most out of their investment. We offer everything you need to maximise your rental potential and make investing in and owning real estate a rewarding experience.

Founded in 1992, Better Homes’ Property Management has met the needs of numerous clients of residential property portfolios. Today, we have a dedicated team in excess of 75 people, taking care of properties across Dubai, Abu Dhabi and United Arab Emirates.

At Better Homes, we enable you to make informed property investment decisions, no matter where you are buying from. Our team has decades of experience in the local real estate market and professional experience we can use to help you find the perfect property for your investment goals.

In addition to our property investment services, we at Better Homes also have a dedicated property management team who ensures that your investment properties are in the best possible condition. From routine maintenance and rent collection to renovations and tenant screening, we can help you save money while improving your property.

We understand the importance of property management and are committed to managing all the day-to-day operations on behalf of property owners so that they can focus on more important things. We provide exceptional customer service and maintain a high degree of tenant and owner satisfaction. Our property management includes a full range of the highest quality and the very best in residential and commercial property management services.

Our service is perfect for beginner and seasoned property investors alike. If you’re a beginner, using our service means you can get started and get the most out of your investment even if you know nothing. We’ll teach you everything you need to know.

We offer property management solutions for single units, multiple units, entire buildings and developments in Dubai’s residential and commercial segments. We have an occupancy rate running at an average of 96.8 percent to our credit. Apart from this, we also offer a full and comprehensive range of property management services ranging from accounting to coordination of repairs and maintenance.

If you are an experienced investor, you will love our service too. We do all of the hard work for you – which means you can spend your time doing the things you love. If you are an investor looking to widen your portfolio, we can discuss advanced investment strategies to help you further build your wealth.

Now is a great time for property investment in Dubai across Dubai’s freehold residential areas. Despite a slowdown in real estate values, Dubai real estate has maintained its appeal. According to the latest Dubai Land Department (DLD) Real Estate Research and Studies Department report, the UAE and Dubai property market also saw investments pouring in from nearly 26,000 investors, comprising 149 nationalities, with total investments worth AED 57 billion during the first half of this year.

The diversity of the investor base reflects the wide range of property investment options in the country, investor confidence and sustainability of growth in the economy. Also, market fundamentals for Dubai real estate are likely to remain positive this year, including infrastructure investment and connectivity.

With Cityscape Global coming up in September next month, where developers will showcase hundreds of project launches, experts predict a rebound of the Dubai property market in late 2017. This is expected to be driven by continued large scale investments in tourism and retail infrastructure, increased diversification initiatives from the government and the open nature of the economy. Further, while rents and prices have fallen between 10 and 15 percent since 2014, the Dubai real estate market is now mature and stable, with little change in rents and sale prices anticipated this year.

For the best advice on property investment and management services, give us a call to get in touch with one of our experienced Better Homes agents.

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UAE capital properties with high returns

With the Expo 2020 not very far away, developers in Dubai are thinking of creative ways of enticing buyers to purchase UAE properties. And how are they doing this?

To begin with, developers are waiving off the 4 percent registration fee to buyers of UAE properties and rolling out monthly payment schemes such as “capital guarantee” and “money back”. In fact, ace Dubai-based developer, Damac Properties, has announced a guaranteed annual return on advance payments during construction of 3 percent per year. The developer has claimed this to be equivalent to twice the interest on fixed deposits in a bid to entice buyers and will offer this interest twice a year until completion of the unit. Rental guarantee schemes are also being offered on Damac villas at Akoya Oygen and Akoya by Damac Towers by Paramount Hotels & Resorts (A, B and D); NAIA Ghalia, Damac Maison Majestine; Merano Tower; Paramount Tower Hotel & Residences; Damac Maison Privé (A and B) and NAIA Vantage.

Another option that has gained recent popularity is the “capital guarantee" which ensures UAE properties’ value for two years after delivery. It also implies that the developer will pay the difference to the investor if the unit price shows decline between the time of delivery and the end of 2019.

Does this signify confidence in and growth of the Dubai real estate sector? We at Better Homes think that such offerings are signs of belief in the sustainability of the Emirate’s property industry and are a good opportunity for those looking for safe investment and high returns in a stable market.

In February this year, Emaar Properties, Dubai’s largest developer, announced that it was waiving off the 4 percent registration fee on Casa villas in the Arabian Ranches development. Even better, this has been offered on ready to move in units. The developer has begun giving customers 12 months to make the full payment with the property agents minus the agency commission of 2 percent, transfer charges of 4 percent and the Oqood land registration charge of 4 percent which will be paid by the developer, Emaar itself.

Another developer, Aqua Properties, is making it easier for people to buy UAE properties, by offering a seven-year monthly payment plan for apartments in Skycourt Towers, Dubailand. Not just that; the developer claims that investors can expect a return on investment of over 10 percent. Seven Tides International, also a developer, has upped its guaranteed return on investment of 10 percent net per annum for three years under its hotel managed rental scheme.

According to recent estimates, UAE properties may continue to see a slight slowdown in activity this year due to lower oil prices. However, the market is anticipated to begin recovery in 2017 as infrastructure work surrounding the Dubai Expo 2020 gets underway. So, overall, while prices and rentals are likely to soften in the short term, they are likely to rise by 2017. The government’s infrastructure spend in the run-up to Expo 2020 is expected to sustain the property market and the population is expected to increase to five million by 2030, and in turn fuel demand for housing.
With the rolling out of such measures, UAE properties are becoming accessible to mid-income and salaried individuals who can now dream of owning a home in freehold locations. By making it theoretically cheaper to pay a mortgage than rent, given the stabilisation in sale prices of UAE properties in addition to sharp increases in rents, there has also been a change in expat outlook towards Dubai in general.

Traditionally considered more of a transit zone for expats, Dubai is presently increasingly being seen as a place for long-term stay. People are beginning to look at the city as home rather than just a transitory destination, are planning on staying longer and hence thinking of investing in a house rather than just renting one for a while. Interestingly, approximately 80 percent of mortgages in Dubai are taken out by end users, in particular, young couples taking the opportunity to invest in their first family home, and representing the majority of new mortgage seekers in the Emirates. This is testament to the fact that more people are not only considering home ownership, but that the shift from people renting to buying is great for stability of the market for UAE properties in the long term.

Experts are suggesting more policy changes and incentives to encourage homeownership, such as a better LTV rate for first-time buyers and reduced DLD fees. We at Better Homes also believe in the importance of maintaining affordability for the average first-time homebuyer, as in the majority of cases, financing tools such as mortgages and easy payment plans are critical to encourage participation in the real estate industry.

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Tips on Saving Cost of Living in Dubai

Decluttering your finances can be hard, but absolutely essential if you’re to give yourself a path to financial freedom. Here are tips on saving in Dubai.

Make a list: Draw up a list of all your creditors and your debt amount so that you don’t underestimate how much you owe.

Budget, budget, budget!  Ensure that a percentage of your paycheck is automatically deposited into your savings account on payday. Planning a weekly or monthly budget will help you live within your means and keep your spending in order. Take into consideration essentials such as household expenses and travel and set aside a small amount for emergencies. Put any amount left over toward your debts.

Cut back: Do you really need the latte from Starbucks every morning? Make a grocery list and stick to it whilst shopping. Scoop up after-dinner leftovers and brown bag lunch to work. It’s far cheaper than eating a take-out meal or going out with colleagues.

Downsize: Selling your car or moving into a smaller home will free up extra money and help you pay off your debts quicker. You may also want to look at moving to a cheaper part of town, as long as it doesn’t increase your commuting costs. 

Throw away the plastic: Keep one credit card for emergencies and cut the others. It’s very easy to spend on credit, so taking away these cards will stop you from running up new debt.

Plan events in advance: Booking expensive treats like holidays and concerts can cause overspending. Try to book these in advance so you know exactly how much you’ve spent and how you can work them into your budget.

Make money: Can you ask for a pay rise or think of ways to make some extra money? Find out what skills or new job opportunities could lead you to a higher salary. Consider renting out a room, selling old furniture or getting a second job.

Consolidate loans: Combining your loans with other debts, such as a credit card, can lower the interest rate and the amount of interest you’re paying.

Pay off your smallest debt first: Paying off your smallest debt and paying the minimum repayment on your other debts can give you the motivation you need to keep going. Once you’ve paid off one debt, you’ll be more inspired!

Hone in on a major goal you may have: Be it saving for a down payment on your dream home or paying off your student loan, visualise what you want by creating a board of photos of you’re the pad you want to buy or the vacation you want to take. Use these images as prompts when you are tempted to overindulge. Keep your eye on the prize. Better Homes offers some of the latest properties in the market, so make sure you check our site for a wide selection of Better Homes properties.

While it’s important to live in the moment and enjoy life, without checks and balances in place, you’ll find yourself saying yes to everything and missing out things that really matter.

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Best spots to watch Dubai fireworks

Ring in 2016 with a spark!

New Year's Eve fireworks in Dubai have always been a huge favourite amongst residents. Fireworks shows at Burj Khalifa, Burj Al Arab and Jumeirah Beach Residence (home to one of Better Homes Dubai key offices) are set to dazzle Dubai's skies this year as well. Do keep in mind that Dubai metro and other forms of public transport will be fully packed so watch out if you’re traveling with kids.

The Burj Khalifa fireworks this year is expected to be designed around a theme of a futuristic Dubai and the 2020 vision, highlighting the country’s achievements in 2015. The fireworks show will be followed by a brilliant audio-visual display with LED lights. If you cannot make it, worry not. No matter where you are this New Year's Eve, you can catch live streaming of the event on television and online.

We at Better Homes have put together a list of top spots to catch the world's finest, largest and most spectacular fireworks at the stroke of midnight.

1.      Downtown Dubai

Shop, sip and swirl by night here, for Downtown is a 24/7 destination. A nabe that never sleeps and never lets up, Downtown is a great spot to take in spectacular views of the fireworks. There are vantage points peppered across the community to watch the world’s tallest building, Burj Khalifa, light up in a majestic spark fest. Head to any of the cafés here or book yourself a table at one of the many restaurants to watch the night sky light up. You can also watch the celebrations from allocated viewing locations in Burj Park and Mohammed Bin Rashid Boulevard. We recommend that you arrive before 6pm though.

2.      Dubai Mall
Catch the exciting events at Dubai Fountain before the fireworks. The Dubai Mall parking is expected to close early so make sure to reach early to grab the best spot. 

3.      Atlantis Palm Jumeirah
Atlantis is also expected to host dazzling fireworks this year. Great viewing spots would include spots outside of Palm Jumeirah such as Dubai Media City, Kite Beach, Jumeirah Street or any of the bars such as Zero Gravity and restaurants and lounges located on top floors in Dubai Marina.

4.      Kite Beach and Jumeirah Beach
Pack in a picnic, grab a blanket, have a barbeque, wait until 12am and get set with your friends and family to experience a night to remember. Aside from the Burj Al Arab Beach and Kite Beach, Zabeel Park and Dubai Creek Park are also good bets to enjoy the dazzling array of fireworks.

5.      Al Khail Road
Park anywhere at Al Khail Road to catch a glimpse of the magical fireworks and ring in the New Year.

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How to discover a reliable real estate agency in Dubai

You've been eyeing a gorgeous property for a while now. However, there’s just one minor hurdle you need to cross: finding a reliable and trustworthy real estate agency in Dubai who won’t take you for a ride. As a savvy property hunter, you should be able to identify genuine real estate agents who understand your needs and go the extra mile to make sure the buying process is a smooth one. A good real estate agent can help you find or sell a property quickly as they have knowledge of and quicker access to properties coming onto the market. Real estate professionals at Better Homes show you the latest homes on the market. Alternatively, if you are looking to sell, they will tell others about your property and therefore, also be on the lookout for you.

Moreover, no one knows real estate better than a qualified real estate agency in Dubai. Not only are they aware of market trends, they also understand how to set price points and will identify the best avenues for advertising your property.

Here are questions to ask a real estate agent before deciding to work with him/her.

1. Are you a registered professional?

Ensure that the agent at the real estate agency in Dubai is registered with the Dubai Real Estate Regulatory Authority (RERA). The list of registered brokers is available at RERA’s website. All agents at Better Homes Dubai are RERA certified, so you are sure that you will be working with the best in the business.

2. How many years of experience do you possess?

You have to make sure that the agent has a credible work history. Importantly, the agent should have experience closing homes in the city and neighbourhood that you are looking to buy or sell property in. Better Homes’ agents are area specialists and come with complete knowledge on specific neighbourhoods.

3. What is your knowledge of the industry?

Double check his/her responses by asking experts that you may know. They should also possess a proven track record of successfully closing transactions in your desired community and be knowledgeable on factors such as local amenities, government regulations and market trends as such information will impact the final sale.

4. What percentage of your clients are buyers?

Most real estate agents also work with sellers for a hefty commission, so it’s important to know that that the agent you will be working with has your best interests in mind.

5. Would you have references?

Ask the agent to present written references from past clients and give you a link to their online profile where you can read up on customer testimonials.

Most importantly, you need to find a knowledgeable agent that you can also rely on. Did he/she patiently listen to your concerns and try to provide a suitable solution?

If the answer to all the questions above is yes, then you have found the right real estate agency in Dubai!

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