Buying your first home in Dubai: is it within reach?

Many of the first-time buyers we meet in our JLT office have rented in Dubai for five years or more. When we sit down with their numbers, the monthly cost of owning a two-bedroom apartment often lands close to the rent they already pay.

Start with a mortgage pre-approval from your bank. It tells you your real budget and shows sellers you are serious. UAE nationals and expatriates need different down payments, so ask what applies to you before you start viewing.

Budget for the fees as well as the price: the Dubai Land Department transfer fee, the agency fee and the mortgage registration add several percent on top.

Finally, look one community beyond the obvious ones. Al Furjan, Jumeirah Village Circle and Mirdif often give you an extra bedroom for the same budget as the Marina.