5 smart reasons why you should buy a house, not a car!
As Dubai residents race to the next best automative model to hit the road Zaki Ameer, Founder of Dream Design Real Estate lays out five facts as to why you should buy a house of a car.
1-Houses appreciate all the time. Over a ten year period there is on average a 7% growth, Downtown Dubai is a great example.
2-A car depreciates over time, it is approximately 10% a year so in other words, in five years your car is going to be worth half the value.
3-You can’t use your car to invest, buy securities or buy another property. Whereas a house, because it has an appreciating value, can be used towards future investments and future assets.
4-A house gives you a rent and a rental income. In Dubai the rent can far exceed any mortgage repayments or if bought outright can be pure income.
5-Finally you have an asset that appreciates and gives you income and growth.