My Own Home: A Journey into Property Ownership in Dubai

In a bustling city like Dubai, where the skyline constantly evolves and lifestyles flourish, owning a home can feel like a dream. However, for some, this dream is realized through careful planning and strategic decisions. One such story is that of Giebeth Laxamana, a Filipina entrepreneur who made the leap into property ownership after 12 years of living in the UAE. With a keen eye for opportunity and a budget in mind, she shares her journey into homeownership in Dubai Sports City.

About the Home

Giebeth’s new abode is a one-bedroom apartment in a relatively new community. Situated in a four-year-old building in Dubai Sports City, the residence offers more than just walls and a roof; it’s a sanctuary with a spectacular view. Living on the 21st floor not only provides a vantage point to witness breathtaking sunrises and sunsets but also a peek into the lush landscapes of The Els Club golf course. The layout of the apartment is spacious, featuring a semi-closed kitchen and a sizable bedroom, making it perfect for both work and relaxation.

The Choice Behind the Property

Having lived in a studio apartment in Jumeirah Village Circle (JVC), Giebeth found herself in need of a larger space when her mother came to live with her. “We couldn’t fit, so I decided it was time to look for a one-bedroom,” she recalls. This particular apartment was originally intended for short-term rental, fully furnished and ready for occupancy. She initially planned to rent for a year but felt an urge to invest. After negotiating a rental price of Dh60,000 for four cheques, she eventually took the plunge to buy the apartment, motivated by a strong belief in property value appreciation.

The Decision to Buy: A Personal Motivation

For Giebeth, the decision to buy her home was both a strategic financial move and a personal ambition realized. Having been a resident for over a decade, she recognized the rising costs of rent and sought to establish her own asset instead of watching her money vanish into monthly payments. “My goal is to let fellow Filipinos know that buying property here is possible,” she states. With her shift to mortgage payments amounting to Dh3,000-Dh3,500 monthly, she feels empowered.

Price and Market Insight

Giebeth purchased her apartment for Dh750,000, a rate she described as favorable considering the property’s size of 943 square feet. Through her keen market insight, she anticipated the property’s increase in value. “In just six months, I believe I could sell it for at least Dh800,000,” she affirms, highlighting the rapid property market dynamics.

Facilities and Community Perks

The community surrounding her home offers basic amenities including a swimming pool, gym, and children’s playground, which is a plus for families. Additionally, the relatively less congested nature of Sports City makes it a peaceful environment to live in, with easy access to major roadways. Giebeth appreciates that the location’s limited construction activity, in comparison to other areas, adds to its charm and accessibility.

Plans for Renovation

Although Giebeth’s apartment came furnished, she has thoughts of personalizing and renovating the space. While she finds the “pretty basic” decor comfortable, she plans to refresh the yellow walls with a more appealing color and introduce smart divisions within the living and dining areas. “I also want to update the kitchen and add a wardrobe in the bedroom,” she shares, revealing her vision for creating a more functional home.

Design Aesthetics

Living with her mother and a pet dog, Giebeth’s interior design reflects a blend of practicality and warmth. Her home is not overly luxurious but showcases personalized touches that give it character. Coffee lovers will appreciate her designated coffee corner, a testament to her love for the brew. Given that Filipinos celebrate Christmas starting in September, the apartment carries a festive vibe, exemplifying Giebeth’s cultural heritage.

Future Prospects

Looking ahead, Giebeth envisions staying in her apartment for three to five years, but is open to the possibility of upgrading if her family expands. “If my father and sister come back, we’ll need a bigger space,” she muses, noting how her eventual relocation will also coincide with her aspirations for property investment. Giebeth’s journey demonstrates that homeownership is not just about having a place to live, but also about building a future grounded in financial security and personal growth.

Owning a home in Dubai, as Giebeth’s story illustrates, is within reach for many, even as expatriates. Her journey encourages others to explore the option of property ownership, highlighting the emotional and financial benefits it can offer in an ever-evolving urban landscape.