Wednesday, October 7, 2015

Investing in property is a big decision, one that, if you are already renting a home that you are happy in, can be a tricky (and often terrifying) plunge to take. There are benefits for both renting and buying a home and these depend on where you are in your life financially and where you would like to be possibly 5 years from now. Take a look at the benefits of renting vs buying a home in Dubai and see if either of these advantages ring true to you.

Benefits of Renting a Home in Dubai 

Initial investment is lower of that when you look at buying a home. A deposit is normally made when deciding on a property to rent, but this deposit is not a large amount compared to that of a down payment on a home.

You have less responsibility towards the home. If something breaks, you can ask your landlord to come and fix the problem. With a home, the problem is yours to fix.

There is more flexibility, if you are wanting to move, you can do so much more easily when you are renting a home and have no financial attachment to it.

Benefits of Buying a Home in Dubai

Your monthly payments are going towards your home and not towards the mortgage or bond of another person’s property. Each month you are paying off the home that you will eventually own fully, a great accomplishment!

You can make renovations. Yes, these might be expensive, but you can change your property as you like and expand as you wish as the home is your canvas and yours to adapt, you do not need approval from owners.

 There are fewer restrictions for that of a home buyer compared to a renter. Someone who rents cannot normally have pets or other advantages that a home owner can enjoy.

Are you looking for a property in Dubai to rent or buy and why? 



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