My Own Home takes you inside a reader-owned property to ask how much they paid, why they decided to buy and what they have done with it since moving in
After nearly a decade of moving from place to place in a demanding hospitality job, Jessi Chai was ready to lay down some roots.
She’d gone from Oman to the Maldives and on to Hong Kong, before she decided to move back to Dubai in 2022, a city she’d lived in from 2015 to 2017. This time she was ready to commit to living here long term, however, and decided to buy a property and start her own PR business.
Two years on, and she’s so glad she bought her Dh1.2 million one-bedroom home in Waves Tower by Kasco in Business Bay, which she describes as the perfect starter home.
The National takes a tour.
Please tell us about your home.
It’s a one-bedroom apartment with a balcony on the Business Bay side of the Dubai Canal. I'm just doors down from the new Lana – Dorchester Collection hotel.
Beside me is going to be a Ritz Carlton and the One Sankari, which is going to be stunning.
There's a lot going up in this area.
Why did you choose this neighbourhood?
I love the canal. It's just super convenient for me.
I work out along the canal and at Kite Beach. I run to d3. I just love this area. It really fits in with my lifestyle.
How much did you buy it for?
I got it for Dh1.2 million. That is good for this area because there's nothing in that bracket at the moment unless you're looking at much older properties.
It's worth about Dh1.6 million now.
Why did you decide to buy?
It was more of an emotional decision than for investment purposes, just because for the past nine years of my life, I was working in hospitality, where you move around every one or two years. I just never felt like I had a home base other than Vancouver or Taiwan, which is where my family resides.
I really wanted to have a home when I moved back to Dubai, I didn't really want to move around. I didn't even have an Emirates ID yet. I didn't have a bank account, and I started looking at property immediately. I just knew I needed a home.
Two years in, and I feel really lucky that I've bought a place. It has just been so nice to ground myself.
What facilities do you have access to?
We have pretty much everything Dubai offers, so you get a swimming pool, a gym, a sauna and changing rooms.
What renovations have you done?
I've added in some shoe shelves because there was empty space by the door, so I've covered up where the internet cables are.
I've added more storage and then I've kind of continued this wavelike motion towards the living room, where I have a bookshelf.
There’s extra storage everywhere – anywhere possible, from the doorway through to the kitchen, into the living room.
I think I might do some painting, but I have no other renovation plans for now.
Do you plan to move anywhere after this?
I would love to move closer to Downtown. I don't think this is my forever home. It is a great start and a great first property.
I think in the future, I would love to own more apartments and rent them out, or maybe get a two-bedroom. Ideally, looking into next year, I’d like to upgrade.
Have you seen a financial difference between renting and buying?
Yes, if I were to rent right now, anywhere in this area, I'd be looking at double what I pay for my mortgage. So, I'm really happy with my decision.
I wish I bought earlier. I wish, you know, my parents never bought me any toys and just gave me the money in the bank.
There’s really no right or wrong time. I’d say just get in if it feels right, if it's a good fit for your lifestyle. If you have the funds and if you're going to be paying rent anyway, just do it.
