As an expat in the UAE preparing to leave the country, you may face a crucial decisionbshould you sell your property or rent it out? Both options come with unique benefits and challenges. This guide will help you evaluate the pros and cons to make the best decision based on your financial goals and circumstances.

Selling Your Property: Pros and Cons

Advantages of Selling

• Immediate Lump Sum - You receive a large sum of money that can be reinvested or used for future plans.
• No Landlord Responsibilities - Selling frees you from the stress of property maintenance, tenant issues, or market fluctuations.

Disadvantages of Selling

• Potential Loss of Future Appreciation - You may miss out on long-term property value growth.
• Market Conditions Impact Returns - If the market is down, you may not get the price you want for your property.

Renting Out Your Property: Pros and Cons

Advantages of Renting

• Steady Rental Income - With strong rental yields in Dubai, leasing your property can generate consistent income.
• Property Value Retention - You maintain ownership and could benefit from future appreciation.

Disadvantages of Renting

• Landlord Responsibilities - Managing tenants, maintenance, and vacancies can be time-consuming, especially if you're abroad.
• Property Management Costs - Hiring a property management company helps but reduces net rental income.

Mortgage Considerations When Selling or Renting

If your property has an outstanding mortgage, your decision becomes more complex:

• Selling with a Mortgage- You'll need a liability letter from your bank to determine the outstanding balance. The buyerbs bank typically settles this amount.
• Renting with a Mortgage - Inform your bank, as your mortgage terms may change. You should also check any tax implications on rental income in your home country.

How Holo Can Help You Decide

As a leading digital mortgage platform in the UAE, we provide:

• An easy-to-use online mortgage calculator to assess financial feasibility.
• Expert advice from mortgage professionals to help you navigate selling or renting decisions.
• A seamless mortgage application process if you need refinancing or adjustments to your mortgage.

Final Thoughts

Deciding whether to sell or rent out your property before leaving the UAE depends on your financial goals, risk tolerance, and long-term plans. By leveraging professional advice and digital tools like Holo, you can make an informed decision with confidence.