From Renting to Owning: How to Secure Your First Home in Dubai
For many living in Dubai, renting feels like the default. It’s fast, flexible, and convenient. But month after month — year after year — that rent money disappears into someone else’s equity. At some point, most expats ask the same question: “Should I keep renting, or is it time to own something of my own?”
At MULKEEF, we’ve helped hundreds make that shift — from tenant to owner, from uncertainty to security.
If you’re ready to explore that step, this guide will walk you through how to buy your first property in Dubai — and why it might be easier than you think.
Renting vs Owning: The Real Math
Let’s say you’re renting a 1-bedroom apartment in Dubai Marina at AED 90,000/year.
That’s:
• AED 7,500 per month
• AED 450,000 in 5 years
• And 0 AED in equity at the end
Now imagine purchasing a similar unit for AED 1.2M with a mortgage:
• Down payment: AED 300,000 (25%)
• Monthly mortgage: ~AED 5,000 (on 25-year term)
• After 5 years: you own ~20% of your home + any appreciation
The difference? Ownership creates value — renting doesn’t.
Sarah’s Journey: From Renting to Proud Owner
Sarah, a British marketing executive, moved to Dubai in 2020 and rented in Downtown.
After years of rising rents, she reached out to MULKEEF in 2024.
She assumed ownership was out of reach — but in just three months, she secured a mortgage and purchased a 1BR unit in Jumeirah Village Circle.
Today, she pays less monthly than her old rent, has long-term stability, and is building real wealth.
Her words?
“I thought buying was for millionaires — now I realize it’s for anyone who plans to stay.”
Step-by-Step: How to Buy Your First Property in Dubai
1. Know What You Can Afford
You don’t need to be ultra-wealthy — but you do need a down payment of at least:
• 15% for UAE nationals
• 20% for expats (first property under AED 5M)
💡 Pro tip from MULKEEF:
Some developers offer flexible payment plans (e.g., 10% down + monthly payments during construction), which can lower the barrier to entry.
2. Get Pre-Approved (Optional, but Powerful)
Getting a pre-approval from a bank shows how much you can borrow. It also:
• Helps you search with clarity
• Speeds up your transaction
• Strengthens your offer when you find a property
Our advisors at MULKEEF can connect you with trusted lenders to compare rates and get pre-approved fast.
3. Choose the Right Location
Think long-term. Ask yourself:
• Where will I live for the next 5–10 years?
• Do I plan to rent this out in the future?
• What’s the rental yield and resale value?
Top areas for first-time buyers in 2025:
• Dubai Hills Estate (green, modern, great ROI)
• JVC (affordable, central, growing)
• Business Bay (ideal for working professionals)
• Town Square (great entry prices for larger homes)
Explore curated listings at mulkeef.com — tailored by budget, lifestyle, and future potential.
4. Work with a Trusted Agent
This is your first big real estate move — don’t do it alone.
A licensed, transparent agency like MULKEEF will:
• Educate you on the process
• Negotiate better terms
• Prevent costly mistakes
• Guide you through legal and financial paperwork
We act like your buying partner, not a salesperson. And that makes all the difference.
5. Understand the Costs (Beyond the Property Price)
Here’s what you’ll pay upfront:
• 20% down payment (for expats)
• 4% DLD transfer fee
• 2% agency commission
• Mortgage registration & processing (~1%)
So for a AED 1M apartment, expect ~AED 270,000 in initial outlay.
Don’t worry — at MULKEEF, we help you calculate and plan every dirham transparently.
Is Off-Plan a Good First Buy?
Off-plan can be an excellent strategy for first-time buyers:
• Lower prices than ready units
• Payment plans with low upfront costs
• Brand-new properties with warranty
However:
• You’ll wait 1–3 years for delivery
• You can’t live in or rent it immediately
Our experts will help you compare ready vs off-plan based on your personal goals.
What About Financing?
Most expats finance their first purchase via a home mortgage.
Key details:
• Loan-to-value up to 80%
• Interest ~4% (variable or fixed)
• Tenor up to 25 years
MULKEEF works with UAE’s top lenders to get you pre-approved and well-positioned.
Emotional Benefit: Security, Stability, and a Sense of Belonging
Beyond numbers and paperwork, owning your home changes how you feel about life in Dubai.
• No more rising rents or sudden eviction notices
• Freedom to renovate, decorate, and personalize
• A deeper connection to the city you live in
You’re not just passing through. You’re building something that’s truly yours.
MULKEEF: Turning First-Time Buyers Into Proud Homeowners
We specialize in helping first-time buyers make smart, confident moves.
At MULKEEF, we offer:
• Handpicked affordable properties
• Off-plan and ready resale options
• Full mortgage and legal support
• A personal advisor — not a pushy agent
We walk with you from your first WhatsApp message to the moment we hand over your keys.
Final Word: You’re Closer Than You Think
Owning your first home in Dubai is not just a dream — it’s a plan you can start today.
With rising rents, excellent financing options, and long-term capital growth, 2025 is the year to stop renting and start owning.
Ready to make the move?
Visit mulkeef.com or reach out for a free consultation.
We’ll help you take that first step — and make it count.
