Do Your Homework on How Much will it Cost to Live in Dubai?
Thinking of relocating to Dubai? Obviously constant sunshine, the promise of tax-free wealth, luxury living and access to great sporting and music events makes Dubai an attractive destination however it is worth considering what living in Dubai will really cost you.
When moving to Dubai you will no doubt want to have a standard of living which is an equivalent lifestyle to the one you currently have. Key points to look at are the cost of renting property, education, medical expenses, food and utility costs. Don’t forget to include the one off charges like commissions to realtor’s, deposits for school places, purchase of cars, furniture and white goods.
Expat children have no access to free or government funded schools. The cost of education in Dubai can be quite high and can vary from school to school. School places can be very hard to come by so the only option maybe the most expensive. If you decide to leave your child in their home country to continue their education you will have to take into account boarding fees plus the cost of flights for them to visit at the end of each term.
Your employer may offer full medical cover however if not you will need to take out your own medical insurance. Many insurance companies do not cover dentistry so this is another cost to take into account.
It is also worth noting that it may be difficult for your spouse to gain employment in Dubai or if they are lucky enough their remuneration maybe a lot less than they were used to back home obviously having an effect on the families total earnings.
Having full time help may seem like a luxury and unnecessary to many expats however this really is the best option if both parents were be working full-time as schools generally finish about 3pm. Expats generally have no family here so full-time help is also useful for babysitting but of course this is an extra cost which should also be taken into account.
If you are leaving a property back in your home country and you want to let it out management fees will need to be paid to a letting agent.
It is becoming increasingly rare to find remuneration packages that offer separate accommodation, education and car allowances as were offered in the ‘old days’. Nowadays packages are often offered as one package so it is worth doing your homework before signing on the dotted line so you don’t end up worse off by moving to Dubai.