The title to a property imparts great benefits to the landlord. A tenant can never exercise full control; one remains accountable to the landlord too.
For many people, renting provides quick accommodation solutions. However, renting for good doesn’t sound fruitful. Renting may not be ideal in the long term either. Renting becomes okay provided one’s property is under construction.
Following lines shine whether renting is preferable to buying or not.
Sense of Security and Financial Stability
The feeling of staying in one’s own home gives unrivalled fulfilment. You can divert your expenditures as you like. You are at liberty in your accommodation.
Emancipated from Landlord’s Relevant Worries
In a rented house, no glimpse of the landlord is assuring. In your apartment or villa, you are master of your life. No rent payment deadlines haunt you, and you needn’t curry favour with the landlord either.
More Income Available
Owning a house means you can generate extra money. The rising population of Dubai increasingly needs accommodation. You can cash your title to the property.
You needn’t rent out the entire building. You can lease one or some rooms. Renting any part doesn’t change your status of the landlord. Tennant will live according to the agreed contract.
You Live Safe and Secure
Renting means you must follow agreed terms and conditions. Usually, the landlord makes the rules and violation can make you pay damages or vacate earlier.
This notion convinces a person that owning is far better than leasing. As a landlord, no one can dictate your routine, dos’ don’ts, and likewise. You do whatever you like.
Expenditures Grow Fewer
Once you buy an apartment or villa, it frees you from spending on accommodation. You can have more savings, which can be invested to harvest greater financial fruit. You’re living expense dip once you own a property. The saved money can even upgrade your accommodation and increase its value.
No one wishes to live in a rented house after retirement. It doesn’t sound feasible while one is left with no source of income to support yourself and your family after retirement. Having one’s accommodation provides relief and peace of mind. Besides, expense management gets better.
In one’s home, delays in pension don’t stir stress, anxiety, etc. Rather, you can rent your property partially to shore up financial resilience. Declining age demands passive income to live.
You Can Change and Upgrade as You May Please
While renting, a tenant agrees to pay damages in case of un-agreed modifications or not obeying rules and regulations. In Dubai, a tenant pays upfront charges to cover damages while renting accommodation. It is refundable provided no damage has been caused.
In case of damages, your money won’t come back to you. It also means you won’t be able to decorate your accommodation as you like. There won’t be any customization either.
Nothing similar to the aforesaid can haunt or hinder you in your own property. You are no longer answerable to anyone.
No One Can Deprive Of Your Accommodation
A tenant has to leave if the landlord wishes so. The peace of mind can become Greek to you under a rented roof. The landlord can oust you on a whim. You will have to divert all your energies to find an alternative.
Owing a property relieves from such nerve straining fears, strains, and caveats. You retain your peace of mind. No one can influence your life. Nothing can deprive of your title to your property except government issues.