Renting vs buying the luxury property Dubai
It is true to say that the real estate market in Dubai has been rising consistently because of the abundance of opportunities. Where this dynamic land is the home to the world’s gigantic tower it also caters to the need of either ex-pats or residents. However, many of them often get puzzled since they can’t decide whether to buy or rent the luxury property Dubai. For the fact, resolving the debate about choosing a home can be tough for those who are new to this city. In this regard, DxB Lux Homes are at your service to provide the important aspect between buying or renting the property. Therefore, you can conveniently pick the right path as per your lifestyle and financial status.
The longevity of the stay
One of the prominent identifiers in making a real estate investment is your stay period and its purpose. The major population of the city, the ex-pats find the short-term rental opportunity more appealing because of some constraints by their job visas. In comparison with buying a luxury property, the tenants do not have to worry about the charges of wear and tear, property renovation, and other service cost. However, the shifting process from one place to another becomes quite difficult for some. Thereupon they can choose to own the luxury homes in Dubai. As buying is suitable for long-term stay purpose which in turn gives you the option of customisation of the property which does not come with renting.
Budget considerations
When you decide to rent Dubai luxury homes it is evident that you have to make the payment each year with maintenance amount as per the contract of tenancy. On the contrary, those who have stable jobs or businesses can easily own any property in the city. In this case, you need a good amount for the down payment. If that can be done then in the long run you can consider any luxury property for sale in Dubai.
The extent of control
Another major aspect that can also impact your decision is the degree of control that you require on your home. It means that if you are choosing to own a real estate in UAE it provides you more control over modifying and customising. Comparatively, upon renting a luxury property Dubai you can’t perform minute changes without the permission of the landlord. Keep in view these components while making any decision.
Cost of renting vs buying
Most of you are already aware of this being an expert but let us further assist you with the maths of renting vs buying your home in Dubai. As per the trends of the real estate market of this city, we can say that when you choose to rent it becomes heavy on your pocket as compared with the buying of the property. You will figure out the actual numbers upon calculating the rent per year. Hence, buying luxury properties can be a suitable option here.
After considering all of the above, it is clear that owning a property is of more perks rather than renting. Apart from this, there may be some other factors that you consider while giving preference to rent. In this view, you can further do your research in depth or our agent is at your service to help you make the lifetime decision.
