If you disagree, allow me a moment to convince you by presenting 4 reasons why choosing a home in Dubai IS THE MOST IMPORTANT decision you will make:
- In UAE approximately around 40% of your salary will go to rent/housing. (Gulfnews, 2017) In UAE approximately around 40% of your salary will go to rent/housing Click To Tweet
- It directly affects your free time available. You know, the one you could spend with kids, cruising beaches or relaxing by the pool. How? Numbers crunching shows you spend on average 101 hour per year in traffic if you live in Dubai. That is more than 4 days a year!(TomTom, 2017) You spend on average 101 hour per year in traffic if you live in Dubai. That is more than 4 days a year! Click To Tweet
- It directly affects school/daycare expenses. And that is pretty important because schooling is second highest expense after housing. Don’t believe me? Let this sink in – Emirates school expenses are second highest in the world! (Gulfnews, 2017) Emirates school expenses are second highest in the world! Click To Tweet
- Length of your stay in Emirates – many expats are heartbroken to leave Dubai so fast because of mounting costs. Mostly they leave due to negligence to do proper research when choosing home.
Just because everybody in Dubai lives a rich life, it does not mean you can afford a rich life.Just because everybody in Dubai lives a rich life, it does not mean you can afford a rich life. Click To Tweet
Think about it this way – do you try and live like Beckhams’ back home? No. Just because you can spend 160 000 AED for apartment on The Palm, does not mean you should.
Very few account for savings or investment budget when deciding on house budget. Once you count that in, you might realize you are not able to afford that apartment after all. Let me relate that to a personal story. We live fairly good al hamdellah. We depend on husband’s family business which has been thriving for more than 40 years. Yet everyone is surprised on our low-key lifestyle. Yes, there are people who live low key in UAE. We are unicorns, but we do exist.
Yes, there are people who live low key in UAE. We are unicorns, but we do exist. Click To Tweet
Our longtime friends were constantly shocked why we choose to live under our means. Few years in, they moved back to their home country because they could not keep up with the expenses. The strange part is – their monthly income was eight time higher than ours. What gives? We followed in wonderment how they moved 3 times in few years from one premium area to other, justifying it by all kinds of arguments. Bottom line is they were not budgeting properly allowing housing to eat that gorgeous income away. Their lifestyle became unsustainable and they had to leave. In meantime we were living in small but comfortable apartment in Sharjah, purchased 2 properties abroad and invested in small side business. Now I know you can relate to this story. I know you have at least one friend or a relative who ended up same. Or maybe you are living the worst case scenario.
Now that you know just how much is important your choice of home, what is next? Count yourself lucky, because I got that part covered too.
We are currently looking for a home. If you do not know where to start don’t panic, I have done all the research for you and will guide you through the process. Come back for posts about how to know it is time to look for a new home and common mistakes when home searching in Dubai, Sharjah or UAE and how to avoid them + handy checklist of most important factors to consider.
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