Off-plan homes usually have a price advantage because they have lower upfront costs and developers actively seek backers in the early stages of development. As a result, they are much cheaper than completed properties. In addition, project developers sometimes attract early investors by offering them flexible payment schedules.

In order to cater for the varying financial situations of home buyers, developers usually offer simple step-by-step payment plans. This greatly reduces the financial stress on the homebuyer. Moreover, as a reward for patience, off-plan investment is a good option.

Investing money in a project while it is still in the planning stage may yield substantial returns once construction is complete. Investing in an off-plan project at an early stage provides you with a great deal of flexibility and allows you to communicate your preferences directly to the developer.

There are also some less pleasant aspects of off-plan housing. There is a certain amount of risk involved when you invest money in something that is not planned. This is because the outcome depends on the project being completed on time and to the agreed quality standards, which are covered up. There is a high risk that the project will experience financial difficulties, delays or eventually be abandoned.

Image Resource: damacproperties.com

On the other hand, resale condos are great places to live. Finished for sale condos have the advantage of immediate occupancy, whether you are a family in a hurry or an investor looking for a quick return.

There is no interruption in service when you move in to a unit that is already built, clear and unobstructed. Knowing that you will receive the services that are clearly stated in your contract allows you to make a large investment with confidence.

In addition, resale condos are usually located in busy neighbourhoods. Once you move in, you will immediately enjoy many of the services and amenities that are already available. One of the enticing aspects of buying a second home is that you can settle into a familiar and comfortable neighbourhood.

While immediate occupancy is an attractive opportunity, buying a second home usually requires a larger down payment. You can get a faster return on your investment, or you can use rental funds, but at a higher cost.

The choice of how much to spend between these two completely opposite options depends entirely on personal preference. These factors include: your financial situation, personal goals and objectives, and how you see yourself in the property industry.

Buying a property is a serious decision that requires careful consideration and an informed choice based on your circumstances. Buying a property in Dubai is much more than a financial constraint - it is a brick in the wall leading you on a journey of self-discovery towards success.