One of the most common hurdles for first time home buyers is the initial cash deposit. You will need to save up at least AED 200,000 to buy a home in Dubai.
The average down payment is around 20% of the total value of the house. If you are an expatriate, you will need to put down a minimum of 25%. For a second or third home, you will need to put down a further 30%.
You will also need to pay conveyancing fees. These are for the legal paperwork involved in the purchase. They can vary from bank to bank. Also, you will need to pay a 4% DLD transfer fee. This is in addition to a 0.25% mortgage registration fee.
Finally, you will need to arrange for insurance. Your insurance premium will be based on the value of your house.