Buyers in Dubai scouting for ‘dream home’ should think different

Buyers in Dubai scouting for ‘dream home’ should think different

In the fluid world of real estate deals, the debate of buying a ‘dream home’ remains as contentious as ever. I would like to shed light on how to approach this age-old dilemma with a revised perspective, emphasizing strategic investment over mere acquisition.

Warren Buffett was once asked: Why do you share your investment strategies?

“Getting rich is a slow process, a few will copy me, but most are seeking get-rich-quick hacks,” is what he had to say. This wisdom applies directly to real estate investment, where the allure of purchasing a dream home often leads to financial overextension.

Many potential homeowners fall into the trap of buying more house than they can afford, justifying it by the belief that this is a lifetime purchase. They end up burdened by substantial down payments and bigger monthly mortgage payments. And they usually disregard the cost of owning such property, from electricity bills to the up-keep costs.

Don’t go with emotional buying

Furnishing the dream home becomes more about the housewarming party than it is about the financial future of the family. The crucial takeaway here is, this should not be an emotional decision, this is purely a commercial one.

Over-romanticising this