Renting Vs Buying: What’s Best for Studio Apartments in Discovery Gardens

Heera
June 11, 2024
Education

Guide Contents:

Introduction

Dubai is one of the most dynamic and rapidly growing cities in the world. Filled with luxury, it is often hard to find an affordable apartment to rent in this mega metropolis. When looking for a place to live in Dubai, there’s always an important decision which needs to be made: to buy or to rent. Dubai tends to offer numerous options for studio apartments, which can make it challenging to pick between the two. Be it renting or buying a property, it involves a number of factors such as your budget, living standards, preferences, and amenities.

If you’re looking for an area and apartment that best suits all your requirements, the studio apartments at Discovery Gardens are the ideal choice. The perfect blend of luxury living, facilities to cater to everyone’s preferences, parks for kids to play, shopping malls, restaurants, fitness and pool, and easy access to the city’s main attractions. All these facilities make it one of the top places in Dubai for individuals and families to settle in.

Our team at StaysDxb have come up with a detailed guide to help you make the right decision that suits your lifestyle and financial position to buy or rent a studio apartment in Discovery Gardens.

About Discovery Gardens:

Discovery Gardens offers a unique blend of affordability, comfort, and convenience. It’s located in the south of Dubai. It is in proximity to Dubai Internet City, Ibn Battuta Mall, Mall of Emirates, and the Dubai Marina/JLT area, making it an ideal option for young business professionals and families. Multi-Sized apartment buildings featuring ample green spaces and an abundance of amenities to cater to everyone’s needs makes it one of the top choices for individuals looking to rent or buy an apartment.

The area is also well-connected to public transportation making it convenient for daily commutes for the residents. 250+ buildings offering six-garden-based clusters indicate an ideal living environment for residents. Let StaysDxb be your partner to look for an ideal studio apartment in Discovery Gardens.

Benefits of renting a Studio Apartment in Discovery Gardens

Lower Initial Costs: Renting usually requires security deposits and rent in advance, which is a relatively lesser amount than the average down payment for purchasing a property.
Maintenance: In most cases, the owner is responsible for the maintenance & repair costs which saves tenants from additional expenses.
Flexibility: Renting allows you to easily move out – rental contracts are usually short-term.
Opportunity to Test the Area: Renting allows you to experience living in different neighbourhoods helping you decide if an area is right for you.

Explore our Catalog

Our curated collection of elegant apartment designs, featuring modern aesthetics and comfortable living.

Elegant & Centrally Located | The Residences Downtown

6 guests

1650 sqft

2 Bedrooms

Studio on the Boulevard | Downtown Dubai

2 guests

450 sqft

Studio

Smart Living | For the Downtown Professional

4 guests

950 sqft

1 Bedroom

Marina Living | Yacht Club Views

5 guests

980 sqft

1 Bedroom

Heart of Downtown | 29 Burj Boulevard

5 guests

1290 sqft

2 Bedrooms

Definitively Downtown | Burj Views

5 guests

910 sqft

1 Bedroom

Downtown Views | Live at Dubai Mall

5 guests

1281 sqft

2 Bedrooms

Chic Living | The Dubai Marina Life

4 guests

961 sqft

1 Bedroom

Drawbacks of renting a Studio Apartment in Discovery Gardens

Limited Control: There are restrictions by the landlords that you have to follow, however, if you book your stay with StaysDxb, there would be minimal restrictions.
Rent Increase: Rent can increase from time to time, which can affect your budget. The increase of any long-term rental contract is governed by the RERA Rental Index, which you can find linked here: https://dubailand.gov.ae/en/eservices/rental-index/rental-index/#/
No Equity: Equity cannot be built by your rental payments.
Varying Stability: Renting always comes with varying degrees of stability; the ultimate control is always with the landlord, thought RERA rental guidelines provide ample protections for tenants as well.

Renting no doubt has its pros & cons. However, StaysDxb is commited to help you find the perfect rental studio apartment in Discovery Gardens with your desired amenities and an affordable price.

Advantages of buying a Studio Apartment in Discovery Gardens

Equity: Buying a property adds to your equity.
Customisation: Buying an apartment will let you customise it. You can design & furnish it according to your choice and needs.
Stability: Owning a property provides stability – you don’t need to be on the lookout for sudden increases in rent.
Long-Term Income: If you decide to move to a different place, you can always rent the property you own and earn an income from it.

Disadvantages of buying a Studio Apartment in Discovery Gardens

High Costs: Significant costs are involved when you are buying a property, such as down payment, closing costs, and other charges that can be difficult to manage
Maintenance Costs: Since you are the owner of the property, all the maintenance associated with the property are on you, which can turn out to be expensive.
Long-Term Commitment: Owning a property ties you down to one location, reducing your flexibility to move elsewhere.

Buying a property on its own can be a challenging process – the competitive property market of Dubai does not make it easier. This guide by StaysDxb can give you a clear idea on whether to buy a property or rent it.

Conclusion:

There are a number of factors that can decide whether to rent or to buy a studio apartment in Discovery Gardens, such as personal preference, financial situation, and market conditions. Renting, no doubt, has its own perks with short-term living & lesser costs, while buying helps you build your equity, provides stability & is great for long-term living.

You can visit StaysDxb’s website and one of our experts will help and guide you thoroughly so you can make the best decision for yourself – either with renting or buying a studio apartment in Discovery Gardens.