Getting Your First Home Purchase Right

Alya Mahdy, executive director, commercial, at Jumeirah Golf Estates, looks at some important factors to consider when preparing to buy your first home.

BUYING YOUR OWN home is one of the most important things you will ever do.

Your home is the haven around which you base your entire life. It is the place where you spend your time relaxing, it is where you entertain your friends and family, it is where you raise your children and it is often the largest single financial asset within your overall net wealth.

In Dubai, with a shift towards more affordable homes and greater transparency in the market, owning property is no longer a privilege for older or high net worth individuals, but is now a goal that can be achieved by an increasingly diverse group of buyers. It is crucial for these younger age groups to know how to navigate the changing property landscape and make the most of available opportunities, to ensure that most important of financial and lifestyle steps they take is the right one.

The single biggest piece of advice that we at Jumeirah Golf Estates can offer is make sure you are properly informed; and the best way to do that is to use the right real estate broker.

In this context, two prevailing trends are relevant, one demographic, the other technological.

According to the Dubai Statistics Centre, the 25-34 age bracket in Dubai grew by over 80 per cent between 2005 and 2016. Meanwhile, technology continues to play a key role in all parts of our lives. For this age bracket, and especially in a city that has put innovation firmly at the heart of its growth strategy, technology has become a standard tool for making buying decisions, and this inevitably includes real estate.