Renting – The Smarter Financial Move

Moving to a foreign country can be a daunting task and trying to it find a place that perfectly suits your needs and requirements is even more intimidating. With the economy of Dubai growing by leaps and bounds every year, it has become one of the most economically beneficial and dynamic cities in the world. It offers you fantastic opportunities, beautifully designed structures, along with a safe and harmonious environment. These factors allure people into coming and settling here. But, the more the population grows the higher is the demand for rental properties. So, what are the benefits of renting an apartment?

Save money - You may think it is impossible to save money while renting an apartment inDubai. But it’s not as difficult as you think! Most people see rent as needlessly throwing away money. However, if you only have to stay for a short period of time, wouldn’t it be a lot more convenient and not to mention easy on the budget to rent instead of buying a house? When you buy an apartment, you end up paying a lot of tax, insurance fees, maintenance costs etc. Therefore, opting for a rented house can be considerably cheaper than buying.

Liberty to Choose - If you have just moved to Dubai, it may take a little while for you to get a feel of the region. You may need time to understand which area is ideal for you to live in. With renting, you have the liberty to move in or out as per your convenience.

Low to No Maintenance - Your responsibility of maintaining the house is drastically reduced. You don’t have to worry about any of the extras when living on rent. The landlord takes cares of almost everything.

Facilities – More often than not, rented homes provide you with basic amenities so you don’t have to worry about a thing when moving in-to one.

No Risk:  The housing market, no matter where you are, tends to fluctuate. And, if in case you plan to put up your apartment for sale; in the recession period, you may perhaps even lose money. But, with rented homes you will have no risk of losing money.

Renting is beneficial for those who do not intend staying for long in one place whereas buying is for those who want to have the independence of home ownership. In any case, it is up to you to make a decision based on your needs and requirements.