Smart Money Tips for People Who Are Searching for an Apartment in Dubai

0
15
Young smiling couple holding their new house keys, real estate and relocation concept

Moving can be exciting. Unfortunately, it can also be scary and stressful. The act of moving can be a huge challenge, and you can bet the entire experience is going to cost quite a bit of money!

Just because your move is going to cost money doesn’t mean it has to bankrupt you now or in the future. Follow these smart money tips when searching for an apartment in Dubai and you can get the perfect place you’ve been searching for without spending more than you should.

Buy, Don’t Rent

When you think of moving into an apartment, you probably imagine renting a space. Although that may save you a little money upfront, it’s much better to buy an apartment when moving in Dubai.

You’ll likely have to come up with a hefty down payment, but you’ll be glad you bought your apartment years down the road. A home you buy can be resold, which means each payment you make will come back to you in the future.

In contrast, when you rent an apartment, you pay the property manager each month to occupy the space. If you’re lucky, when you move out, you’ll get your deposit back, but that’s it.

Look for a Room on a Lower Floor

It’s true that you’ll get a great view in a high rise apartment building, but that view comes with a cost. Apartments with a view always cost more than apartments without a view. If you’re looking to save some money, you can get the same layout for less when you live on a lower floor.

That’s not all! It can get hot in Dubai. If you live on an upper floor, you’re going to pay more to keep your space cool. Choose a lower floor and you’ll pay less on your energy bills all year long.

Additional benefits of living on the first floor include:

  • It’s more accessible, if you or someone you love has mobility problems
  • Easy access to the green space around the building, which is great for kids and pets
  • Moving in and carrying in groceries is a lot easier

Get a Roommate

Feel like that monthly payment is out of your reach? Or maybe you’ve got enough money to cover the costs, but you wish you could free up a little cash for something else? Don’t compromise and move into a small apartment on the bad side of town. Instead, look for a roommate.

Having a roommate is a great way to save money because you’ll save on all the costs associated with your apartment, including utilities and services, like television.

There are other benefits of having a roommate that include:

  • You and your roommate can carpool
  • Takeout and delivery will cost less
  • Intruders will be deterredbecause someone is usually home
  • You never have to worry about getting locked out

Decorate One Room at a Time

It’s easy to get excited about decorating when you move into a new space. You may have enough energy to decorate and furnish every room from top to bottom, but chances are, you don’t have a pocketbook to match your enthusiasm.

There are many ways to save on home décor, but one of the best is to focus on decorating one room at a time. That enables you to spread out the cost of decorating your apartment over months or even years, instead of having to have thousands of dollars upfront to transform every room at the same time.

Move in with Money in the Bank

Moving into an apartment can drain your bank account, whether you decide to buy or rent. If you don’t have a choice, and you have to move right away, you may not be able to build up an emergency fund. But, if you can put off moving for even just a few months while you build up an emergency fund, it can make your move go much more smoothly.

Moving almost always comes with surprise costs. In addition to closing costs and deposits, you may realize you need a new piece of furniture or a can of paint. Not to mention, another surprise expense can come up at any time. Having a little extra cash will ensure you don’t have to rely on credit.

Finding the perfect apartment is important, but so is making sure that apartment fits your budget. There are tons of ways to save when you move, but this list of ideas will help you start your search with an abundance of money confidence.

 

 

 

Author: Susan Melony