Best Locations For First Time Homebuyers In Dubai

Best locations, tax-free environment, Golden Visa opportunity, property ownership rights for foreigners, off-plan properties for sale, investment-friendly policies and the development of sustainable and eco-friendly developments make Dubai one of the most dynamic and fastest-growing cities in the world. Investors and high-net-worth individuals from all over the world come to Dubai to capitalize on its offerings and live a relaxed and comfortable lifestyle. 

Undoubtedly, Dubai is an attractive investment destination especially for new homeowners mainly because of its world-class infrastructure, luxurious lifestyle, tax advantages and top-class facilities and amenities. As a first-time buyer, you can purchase your dream property for sale in Dubai and live a standard lifestyle. This city offers a range of investment opportunities, allowing investors to choose the most feasible investment option based on their specific needs and preferences. 

If you aim to buy a residential property in Dubai then you should choose the right area as per your needs and financial means. Give this blog a read to explore the best locations for first-time homeowners in Dubai.

Key Factors to Consider as a First-Time Homebuyer in Dubai

Affordability & Budgeting

When looking for an investment option, affordability and budgeting must be your top priority. Dubai boasts various types of luxurious and affordable properties in different communities. Some properties are budget-friendly while some are quite expensive for common buyers. That’s why you need to analyze your financial resources and set a specific budget for a transaction before making any investment decision. Do not forget to consider additional costs, including property registration fees and commission of real estate agents. 

Property Types for First-Time Buyers

As a first-time home buyer, you can choose from a variety of available residential investment options based on your lifestyle and financial capacity. This metropolitan city extends apartments, penthouses, duplexes, townhouses and luxury villas for sale. Choose the best property for sale in Dubai that suits your needs and preferences.

Along with that, this city also offers ready-to-move-in and off-plan properties for sale in Dubai, enabling property buyers to purchase properties at lower prices. Under-construction properties can also be purchased through easy installment plans, making it further easier to buy and own real estate in one of the most advanced cities in the world.

Golden Visa Eligibility for Homebuyers

If you buy property worth AED 2 million in Dubai then you also become eligible to obtain a long-term residency visa. It means you can stay in this city for an extended period by just buying real estate. So, if you intend to live a splendid lifestyle and choose Dubai for your living then you can also acquire the Dubai Golden Visa by meeting the minimum eligibility requirements. 

Best Affordable Areas for First-Time Buyers in Dubai

Dubai is for everyone because this city is aimed to meet the needs and requirements of everyone. If you desire to purchase an affordable yet luxury real estate in Dubai then this city has a lot of options to offer. Here you can explore affordable communities where you can buy premium properties at cost-effective rates.

Jumeirah Village Circle (JVC)

Jumeirah Village Circle (JVC) by Nakheel Properties is a freehold family-friendly community in Dubai located between Al Khail Road (E44) and Sheikh Mohammed Bin Zayed Road (E311). Located close to Dubai Marina, Dubai Internet City, Media City and Jumeirah Lake Towers, this area features townhouses, apartments and villas for sale in Dubai. Considering its significant location, proximity to key areas, high-end amenities and eco-friendly living ambiance, it is deemed one of the most family-friendly and affordable communities in the city. 

Dubai Silicon Oasis (DSO)

Dubai Silicon Oasis is a mixed-use self-contained community located at the intersection of Dubai Al-Ain Road (E66) and Sheikh Mohammed Bin Zayed Road (E311). This community comes with residential, commercial and recreational spaces, allowing investors to buy budget-friendly properties and live and work in this perfectly designed community. DSO offers easy access to several notable areas of the city and this community also offers state-of-the-art facilities and amenities, allowing investors to live a memorable lifestyle and create their moments of joy in a premium yet convenient place.

Town Square Dubai

Town Square Dubai by Nshama Group is a properly planned residential community in Dubai. It is located along Al Qudra Road (D63) and features apartments and townhouses for sale in Dubai. Considered one of the most affordable communities in Dubai, Town Square Dubai offers modern living spaces laced with high-end facilities and amenities, allowing individuals to explore their dream living spaces.

Damac Hills 2

Previously known as Akoya Oxygen, Damac Hills 2 by Damac Properties is a self-contained and eco-friendly residential community in Dubai. Located between Jebel Ali Lehab Road (E77) and Al Ain Road (E66), it is a secluded community that features premium living spaces such as apartments, townhouses and villas for sale in Dubai, UAE. Lush green spaces, parks and gardens, connectivity to popular road networks, advanced living options and economical rates of properties make Damac Hills 2 a decent consideration for first-time home buyers in Dubai. 

Best Communities for First-Time Buyers Seeking Luxury at an Affordable Price

Dubai Hills Estate

Dubai Hills Estate or Dubai Hills is the first phase of Mohammed Bin Rashid (MBR) City. It is a joint venture between Emaar Properties and Meraas Holding and is located along Al Khail Road (E44). It is a family-friendly gated community that features perfectly developed apartments, townhouses and lavish villas for sale in Dubai. Deemed a decent consideration for people who desire to live a dream lifestyle without exceeding their financial limits. Significant location, proximity to Downtown Dubai, a perfect blend of luxury and convenience, top-notch facilities and amenities, premium lifestyle and affordable properties make it a decent choice for luxury enthusiasts.

Dubai Marina

Dubai Marina by Emaar Properties is one of the most sought-after waterfront destinations in Dubai. It is a vertical community that is located near Downtown Dubai and is also connected to popular road networks of the city, offering seamless accessibility. Known for offering a premium living experience, Dubai Marina is a vibrant community. If you desire to live a lavish lifestyle and enjoy the savor of extravagance and opulence then Dubai Marina is one of the best areas to consider for property-related investment. 

Downtown Dubai

Downtown Dubai by Emaar Properties is one of the best areas to live, work and enjoy life in Dubai. Home to the Burj Khalifa, Dubai Mall, Dancing Fountain and Dubai Opera, this community intends to extend the utmost, comfort and elegance. Considering its significant location, high-end amenities, perfect living ambiance and unparalleled offerings, it is considered a top choice for both first-time home buyers and property investors in Dubai.

Off-Plan vs. Ready Properties: What’s Best for First-Time Buyers?

Off-Plan Properties for sale in Dubai

In Dubai, you can also purchase incomplete or under-construction properties. These properties are called off-plan properties. Properties that are yet to be completed fall under this category of real estate. 

Pros Of Buying Off-Plan Properties For Sale In Dubai

• These properties are easy to purchase because of lower initial payments
• Payment plans are attractive and affordable for such properties, allowing buyers to purchase properties via installments
• These are modern, innovative and unique developments, catering to today’s needs of investors
• Property investors can also customize their off-plan properties. This option allows investors to customize interiors and finishes
• The value of off-plan properties increases significantly upon the completion of a project
• Considered an ideal investment option for those seeking long-term value

Cons Of Buying Off-Plan Real Estate

• The risk factor is higher in this type of investment
• Investors can experience unnecessary delays in the development work
• Material quality may also be compromised later on
• Fluctuations in the property market may alter the perceived value of an off-plan property.

Ready Properties For Sale In Dubai

Properties that are fully developed and ready for immediate occupancy are called ready properties. Fully constructed real estate falls under the category of ready-to-move-in properties as property buyers enjoy immediate possession or occupancy of their purchased real estate. 

Pros Of Buying Ready Real Estate

• Property investors get immediate occupancy or possession of their purchased real estate.
• Property owners can move in after making a purchase or rent it out to generate rental income
• Physical structure is available to inspect the property and measure whether it aligns with your needs before making any investment decision
• These sorts of real estate are mainly located in well-established neighborhoods, allowing owners to start living and enjoying available facilities and amenities
• Investors who seek instant cash flow can rent out their purchased properties to start earning rental income

Disadvantages Of Buying Ready-To-Move-In Properties

These are completed properties and you cannot modify these sorts of real estate as per your own standards

Property buyers have to pay hefty down payments to own such properties because flexible payment plans are not available in this case

These properties may also lack modern features which are now available in futuristic off-plan projects

A property investor needs to analyze the pros and cons of both options to find which type of property aligns with his interests, needs and long-term objectives before making any choice. Evaluate both investment options and then make a rational decision to capitalize on the benefits of real estate investment in Dubai.

Key Considerations For First-Time Property Buyers in Dubai

First-time property buyers need to understand the local market of the UAE, mortgage options and legal considerations to make a prudent decision and avoid the possibility of any hassle. 

• If you are an expat or foreign investor, you can only buy properties in freehold areas of the city because non-residents are not allowed to purchase real estate in leasehold areas.
• Also check mortgage eligibility if financing is needed to make a purchase
• Consider additional necessary expenses such as property registration fees, agent commissions and service charges
• Always choose a location based on your work location and the accessibility of amenities
• Your monthly mortgage payments should not exceed 50% of your total income
• Obtain a pre-approval mortgage letter to determine your budget for a purchase
• Pay your dues through an escrow account to make a safe and secure investment

Real Estate Market Trends for First-Time Homebuyers In Dubai

Considering the strategic location, innovative and futuristic real estate, premium living and business spaces, high-end facilities and amenities and significantly high ROI, people from across the globe constantly come to Dubai, increasing the demand for all types of real estate, especially affordable homes. First-time buyers can purchase affordable homes in areas such as Jumeirah Village Circle (JVC), Town Square and Dubai South.

Given this relentlessly growing demand for real estate in Dubai, property developers are developing further projects to enhance the landscape of Dubai’s real estate and cater to the diverse needs of investors. Along with that, Dubai 2040 Urban Master Plan also intends to create sustainable and family-friendly communities with emphasis on luxury, innovation and affordability. 

Conclusion: Making the Right Choice as a First-Time Buyer in Dubai

Dubai is one of the best places to consider for living a lavish lifestyle. It boasts luxury living spaces, a variety of affordable and expensive residences, sustainable and eco-friendly developments, high-end facilities and amenities and a prevailing living ambiance. First-time buyers can choose Dubai for their property-related investments because this city allows them to purchase property and own homes via attractive and feasible investment plans such as a 1% payment plan and post-handover payment plans. Jumeirah Village Circle, Town Square Dubai, Downtown Dubai and Emirates Hills are some of the best locations for first-time home buyers in Dubai.

Your Dream Property in Dubai is Just a Call Away!

Kelt and Co Realty is a prominent real estate development company in Dubai. This property company facilitates real estate transactions, helping people to buy, sell and rent real estate in Dubai, UAE. No matter whether you are an expert or a novice, our zealous team can help you find the most suitable investment options and make a practical choice. We intend to deliver value because we always prioritize our clients’ needs and requirements. Let us help you buy your dream property!