Key Points in 15 Seconds
- First-time buyers get best LTV ratios (lowest down payment)
- Budget 30-35% of property value for down payment + fees
- Get pre-approved first - know your budget before viewing properties
- Compare offers from multiple banks - rates vary significantly
Welcome to Home Ownership
Buying your first home is an exciting milestone. Whether you're an expat settling in UAE or a national purchasing your first property, this guide covers everything you need to know to make informed decisions.
The UAE property market offers diverse options from affordable apartments to luxury villas. With proper planning and the right guidance, home ownership is achievable for most working professionals.
First-Time Buyer Checklist
Assess Your Finances
Review savings, income, existing debts, and calculate how much you can afford
Get Pre-Approved
Know your exact budget and strengthen your negotiating position
Research Areas
Consider commute, amenities, community, and future development plans
View Properties
See multiple options, visit at different times, check condition
Make an Offer
Negotiate price, sign MOU, pay deposit
Complete the Purchase
Finalize mortgage, transfer ownership, get your keys
Understanding the True Costs
Many first-time buyers focus only on the property price. Here's what you really need to budget:
For a AED 1,500,000 Property (Expat Buyer)
| Down Payment (25%) | AED 375,000 |
| DLD Fee (4%) | AED 60,000 |
| Agent Fee (2%) | AED 30,000 |
| Other Fees | AED 20,000 |
| Total Needed | AED 485,000 |
Mistakes to Avoid
Not Getting Pre-Approved
Know your budget before falling in love with a property
Ignoring Total Costs
Budget for fees, not just down payment
Using Only One Bank
Compare offers - rates vary significantly
Stretching Budget Too Thin
Leave room for emergencies and lifestyle
Forgetting Service Charges
Annual maintenance can be AED 15-25/sq ft
Rushing the Decision
Take time to research and compare
Tips for First-Time Buyers
Start Saving Early
Set up automatic transfers to a dedicated savings account
Build Good Credit
Pay bills on time, manage credit cards responsibly
Use a Mortgage Broker
Get access to multiple banks and expert guidance
Visit Properties Multiple Times
Check morning, evening, weekday, weekend
Research the Community
Talk to residents, check future development plans
Ready to Start Your Journey?
As a first-time buyer, get personalized guidance and quotes from 18+ UAE banks. Our experts help you every step of the way.
Related Resources
Frequently Asked Questions
Can first-time buyers get special mortgage rates in UAE?
How much should I save before buying my first home in UAE?
Should I buy or rent in UAE as a first-timer?
What mistakes should first-time buyers avoid?
Is it better to buy ready or off-plan for first home?
This content is not financial advice. Please consult a licensed financial advisor before making borrowing decisions.
LeoCompare may receive referral commissions from partnered financial institutions. This does not influence the information presented.
Reviewed by the LeoCompare Editorial Team – specialists in UAE home financing content.
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