The Benefits of Renting a Property In Dubai

As with many property markets around the world, the Dubai real estate market sees many ups and downs, with prices rising and falling as the economy grows and more expats enter Dubai to live. Many property experts suggest that for now, renting is the way to go. Let’s take a look at three benefits of renting a property in Dubai.

 

A Smaller Down Payment Required

For buying a home, you need a lot more initial capital for investment when you purchase a property. For renting, there is normally a deposit that is needed and even though this can be steep at times, this is still less than payment needed to buy a home. It is therefore easier to pay a deposit for a home that you are renting as it is more affordable.

 

Less Commitment Needed

As exciting as purchasing a new home can be, it is a big responsibility owing to the fact that a property can only be paid off over many years – up to 20 years in most cases. Renting a home or apartment means there is no commitment from your side. You pay a monthly rental and if you want to relocate or you are not happy with the property – you simply move. Therefore renting is recommended for people who are not sure how long they want to stay in Dubai.

 

Maintenance is Not Your Concern

If something breaks in a home that you have bought, it is your responsibility to fix it, no matter the size of the problem. When renting, you can simply call your landlord and they will send someone out to fix anything that is broken. This saves you time and money and is prefect for someone who is not willing to do a little DIY around the house.

 

As Dubai real estate gains strength, try renting for a few months until you find your perfect home that you just cannot live without.