PAYING LESS DOESN’T ALWAYS MEAN SAVING MORE


Wael M. Kabrit
Director of Operations
Danat Qatar L.L.C.

Why should residential compounds or towers with amenities be your first choice when looking for a family rental home? How has the recent pandemic enhanced the value of such communities?

We strongly advise against comparing pricing by unit type and instead, focus on the total value of the package you are signing up for. It is pointless to compare a stand-alone residential villa or apartment in any area to the same kind within a residential compound or tower that offer a wide range of amenities and services; such a comparison is not only misleading, but also distorts your judgement, particularly from a financial standpoint.

When leasing a property within a residential community with facilities, you are not charged for the SQM you occupy. In such situations, you are charged for a bundle of additional services, facilities, and benefits that are not always available when renting a standalone property. When doing your comparison, it’s vital to keep those varying requirements in mind.

When living in a compound or tower with amenities such as a swimming pool, Jacuzzi, steam room, indoor or outdoor kid’s playground, gym, entertainment room, tennis court, basketball court, squash court, restaurant, grocery shop, laundry shop, or other facilities, you should keep in mind that these facilities and services save you a lot of money in addition to security, facility management, and maintenance services. The cost of simply a few restricted choices of such amenities outside your residential neighbourhood will add not only to your financial load but to your living expenditure as well.

Spending a family weekend at a nice hotel or resort facility, for instance, will most likely set you back at least QAR1,500 per day, whilst a gym membership as an individual will cost you roughly QAR6,000 per year, plus various other amenities included. Leasing a property that is QAR1,000 or QAR2,000 cheaper in price, presuming you are saving money, will prove meaningless in the long term if you are spending nearly twice as much to improve the quality of your family’s lifestyle outside your residence. What we’re inferring here is that when setting a budget, you should consider incorporating it with your expected entertainment and leisure activity budget for you and your family; in the moment, it may seem like spending significantly but in the long term, you will be saving much more!

The COVID-19 pandemic restrictions that have been broadly implemented all over the country for the greater good of our community safety over the last two years, particularly those that involved the closure of parks, sport halls, playgrounds, schools, pools, and most of the kid’s entertainment facilities, left children, particularly those under the age of 12, with little room to be exposed to the normal social life experiences where they have the opportunity to express themselves.

These circumstances increased the value of closed residential communities by providing an advantage to all age groups, specifically for those children who could freely and safely step out of their units and run, ride a bicycle, or skate within the compound streets, and enjoy some physical sports and activities. Furthermore, and most importantly, they had the opportunity to improve their communication skills and had more physical engagement with other children, which in the long run will have a significant impact on their growth and mental health.

In your next property hunt think wisely and and from a wider angle because paying less doesn’t always mean saving more!

 

This article was published as part of the seventh edition of Property Finder Qatar’s Trends Report.