Rent versus Own
What will happen to the Rent Index (the benchmark followed in the resolution of any rent disputes)? What will it do to safeguard the real estate market from any excessive price rise? This week, Mejren told the Arabic press that three key legislations will be introduced in the first quarter of 2014, and a law that defines a unified rent contract will be issued before the end of next year. Industry officials have welcomed the creation of RDSC. One encouraging development, said a Dubai property lawyer, is that the head of the dispute resolution centre will be a judge and there will be an appeal process. Mohanad Al Wadiya of Harbor Real Estate said resolving rental disputes under DLDs watch makes more sense.
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It might be time to start thinking about buying a home of your own. The idea of finding, financing and purchasing a new home can be intimidating, but you’re not in it alone, a Realtor can help you every step of the way. Do you remember why you rented in the first place? Did you think your rent payment would be less than your mortgage payment? Did you want to call your landlord to fix things when they broke? Were you unsure where you wanted to live?
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