So, you’re living in Dubai and wondering: Should I keep renting or finally buy a home? Let’s break it down in simple terms so you can make the best decision.
What’s Cheaper in the Long Run?
- Renting: Short-term flexibility, but you’re paying your landlord’s mortgage instead of building your own wealth.
- Buying: Monthly mortgage payments often end up being similar to rent—but you own the property at the end of it!
For Example:
- Renting a 2-bedroom in Dubai Marina = AED 140,000/year
- Buying a similar property with a mortgage = AED 8,500/month (~AED 102,000/year)
Long-term, buying can actually be cheaper!
Do You Plan to Stay in the UAE?
- If you plan to stay for 5+ years, buying makes more sense—especially with long-term visas tied to real estate ownership.
- If you’re unsure, renting gives you more flexibility.
How Much Do You Need for a Mortgage?
- Down Payment: Expats need 20% for properties under AED 5M.
- Other Costs: Land Department fees (4%), real estate agent fees (2%), and mortgage registration fees.
Tip: Many banks offer mortgage pre-approvals in just 48 hours—so you know exactly what you can afford!
Pros & Cons of Buying vs. Renting
| Buying a Home | Renting a Home |
|---|---|
| Build equity & increase net worth | Flexibility to move easily |
| Long-term stability | No big upfront investment |
| Potential property value appreciation | No maintenance costs |
| Eligible for UAE Golden Visa (if AED 2M+) | No mortgage commitment |
Final Verdict?
If you’re in Dubai for the long haul—buying is the smarter move.
Not ready for commitment? Renting keeps things flexible.
Thinking about buying? Let’s chat! Get a free consultation today.
