Should expats buy or rent an apartment in Dubai? Tips & advice
This question has probably crossed your mind a couple of times before deciding for your new home. Buying and renting both have pros and cons. For expats, we must keep in mind that our stay in Dubai will never be permanent (except for some special cases). There are other special factors that we must consider before choosing a home so we could make wise decisions.
As an expat we must prioritize our main objective for coming in this region. If your goal is to build a strong career with a good salary package, determine your target savings and the timeline on how you would achieve your main goal. With that mindset, you would be able to determine if it’s wise to buy or just prefer to rent an apartment in Dubai. Balance your lifestyle so you would be able to divide your expenses and allocate them wisely. Since most expats prefer to stay for only a short span of time, renting would be an ideal option. There are a lot of apartments for rent in Dubai which could help you maintain a balanced lifestyle.
Another consideration that expats need to take note is accessibility. Buying an apartment in a certain area is mainly focused on a long term setting. Establishing a strong career in Dubai could be very tough. Given that there are unforeseen circumstances that may occur; no one could confidently say that they will be permanent in their job positions. The reality is that expats will never stop seeking for better opportunities. The advantage of renting an apartment in Dubai is that you have control of your tenancy. If you and your landlord make an agreement to terminate your contract, given the legal factors and conditions, it would be easy for you. Don’t plan ahead of the reality.
Now you must ask yourself, is it more affordable to buy or to rent? Considering your timeline and target savings, other factors would include your daily expenses. Worse comes to worse, you should be prepared for any emergency funds as well. If you decide to rent, we definitely recommend you to look for apartments for rent in Discovery Gardens, apartments for rent in IMPZ, or apartments for rent in Dubai Silicon Oasis. These areas are among the most affordable when it comes to renting a property in Dubai. These areas are very popular with expats because of the rental prices, peaceful environment, distance from the busy city life, and high safety levels.
In the end, it will all come down to determining your long term goals. Buying an apartment may be a better advantage for some expats due to specific reasons. But for most expats who are planning to settle in their home country one day, renting an apartment in Dubai is the most ideal option.