RENT OR BUY: Which is the right choice for you?
RENT OR BUY A PROPERTY IN DUBAI!
Dubai’s unparalleled infrastructure and unprecedented security makes it very popular choice among people looking to relocate from all over the world. The opportunities to investing this sector are boundless. It is still a financially significant decision to go ahead and make that deal. Choosing to Buy or Rent a home in Dubai is undoubtedly an important yet crucial decision. The outcome not only affects your lifestyle, It will also affect your financial health in the long term.
Renting a property:
If you are planning to stay for a couple of years or aren’t absolutely sure about your plans yet, perhaps renting a property in UAE might be the better choice at the moment. Renting typically requires less upfront costs compared to buying a property. Renting provides flexibility, especially to those who prefer not to be tied down to a specific location. Whether it’s a long-term contract or short-term, renters get a chance to get out of their contract. With a short 2 month notice , you can vacate the property and head of to your adventures.
Above all these Renting has its own disadvantages. It is actually cheaper to buy a property rather than renting it in the UAE. When you crunch the numbers based on your annual rent within a specific period of time. And how much monthly payments towards a mortgage would come up to. You will see that the overall costs actually make it more favorable for UAE residents to buy the property. Most Investors believe that spending money to pay rent is like investing in a bag with holes.
Buying a property:
Owning a property in Dubai will undoubtedly give you much-needed stability and control in the long run. If you are looking for investing that gives you high ROI, don’t think for a second, go for it. If you have the ability to make the down payment and can pay the equated monthly installments (EMI), then you are in a better position to buy a property. Owning a property in the UAE  gives you control over the modification and customization of your home. In comparison when you are renting a property, a minor change needs NOC from the landlord. Another big advantage of owning a property over (AED 2,000,000 worth) will be eligible for 10-year Golden Visa. Flexible payment plan, prime location, amenities, high ROI, and Capital appreciation make investors this a perfect choice.
However, Buying a property is not an easy task without a perfect agent.
If you are still confused about making a decision, get in touch with our team  We are here to guide you.
