5 Reasons it may be Time to Buy Your First Home

1. You’ve been renting a property for longer than 3 years, you’re still with the same company and your career is progressing. Believe it or not, it may be time to look into buying a property.

Dubai is no longer seen as a sabbatical from your home country life. This can be said for more and more expats across the city! The lifestyle is second to none and if you don’t have plans to move home in the near future then it just may be time to invest in property.

3 years is a long time to be renting a property and it’s a lot of money that could be going towards you’re very own home.

2. You are becoming more interested in how your money is working for you. Buying a home is an investment and an investment that benefits you from day one – you will have a roof over your head. 

Buying a property is one of the soundest investments you can make. You will always need somewhere to live, why not make that your very own home?

Property markets work in cycles which can lead to ups and downs, however property will always appreciate over time. You must keep in mind that property is a long-term investment and although you may not make money after a short time, you are guaranteed return on investment in the future.

3. When you start to resent spending money to improve someone else’s property, it may be time to start thinking about buying your own.

Renting a home to begin with can be very exciting and you can come up with lots of ideas on how to make the rental property your home. However, once you start to think of the rental property as someone else’s and you want to take the next step in making the home your own for example painting walls, laying grass and landscaping gardens it could be time to start looking into investing in a property of your own.

4. If you have the savings to put down on a property and are finding yourself looking at properties for sale on online portals to pass the time, it could mean you are ready to buy your own home.

Once you dig a little deeper and you work out how much mortgage repayments will be, only to discover that the monthly repayments on your own home are working out cheaper than what you are paying in rent – could be a sign you’re ready to make the step onto the property ladder.

5. You find your life is progressing at a rate of knots and family planning has been a topic of conversation in recent times. This could be a sign that it may be time to put down roots and pay into your future. Buying a home gives you piece of mind and more stability to bring a family into the world.

Schools will play a big part in the area you purchase a property so it’s good to keep this in mind and start doing some research into education as well as different communities. Although your future child's education may not be in the forefront of your mind right now, it’s a good idea to keep this in mind during your search.