Question: My wife and I are moving from an apartment into our first family home. I am, however, somewhat confused because friends are telling us to buy in the best community we can afford, even if it means compromising on the property itself. Is that really good advice, or should I just go with my gut feeling? I'd appreciate your take on this. DM, Jumeirah Lakes Towers, Dubai
Answer: My take on this is that when buyers start searching for a home, they naturally focus on the property itself. They compare kitchens, layouts, finishes, garden sizes and floor plans. Those factors obviously matter, but buyers often overlook something I think is even more important: the quality of the surrounding community.
It's obvious that you can renovate a house, extend a property or update interiors over time. What you cannot change is the location, the schools nearby, the commuting times, the traffic, the amenities and the overall environment in which your family lives.
When children are involved, the community often becomes more important than the property itself. Families benefit from parks, recreational facilities, good schools and a strong sense of neighbourhood. These are the factors that shape daily life and create long-term happiness.
I often advise clients to think five to 10 years ahead. Will the community still work when the children are older? Will commuting remain manageable? Are there sufficient facilities to support changing family needs? To give you an example, communities such as Dubai Hills Estate, Arabian Ranches, Emirates Living and Jumeirah Golf Estates, to name a few, continue to attract demand because they successfully answer those questions.
A great property in the wrong location can become frustrating over time. A slightly smaller home in the right community often proves to be the better decision from the emotional side and potentially financially.
Q: Every time I think about buying, someone tells me the market has already peaked and I should wait for prices to come down. People were saying this two years ago and they are still saying it now. How do you separate genuine advice from market nonsense? NJ, Business Bay, Dubai
A: Property is one of those subjects where everyone seems to have an opinion, especially after a period of strong growth.
The reality is that nobody can consistently predict short-term market movements. If they could, they would be among the wealthiest investors in the world. I've said before that timing the market is impossible because most forecasts are simply educated opinions based on the information available at that moment.
Rather than focusing on predictions, I would encourage buyers to focus on the fundamentals. Is the property in a strong community? Is there sustained demand from buyers and tenants? Is the building well managed? Are service charges reasonable? Is the price supported by recent comparable transactions? What are the infrastructure elements like, such as road, rail or metro connectivity?
Dubai has experienced significant growth over the past five years and some market segments may naturally stabilise as new supply enters and the market matures. That is healthy. Sustainable growth is generally preferable to unsustainable growth.
The mistake many buyers make is believing there will be a perfect moment when prices are low, interest rates are attractive, supply is limited and uncertainty has disappeared. In reality, that moment rarely exists. Successful property owners tend to focus on buying quality assets, holding them for the long term and allowing time to work in their favour.
Property should be viewed as a long-term commitment, not a short-term prediction exercise. Many "flipping" buyers who now wish to sell are experiencing this pain.
The opinions expressed do not constitute legal advice and are provided for information only. Please send any questions to mario@evadxb.com
