Canadian couple calls Dh750,000 Dubai apartment a ‘long-term investment’

Canadian couple calls Dh750,000 Dubai apartment a ‘long-term investment’

Victoria Brouillet and her husband Marcel have made a significant life choice by purchasing a one-bedroom apartment in the Green Community West area of Dubai Investment Park (DIP). Previously, they rented various homes in this neighborhood, opting this time to establish roots in an area they have come to know well over the years.

### A Journey to Homeownership

The couple, in their late 40s and hailing from Canada, has resided in Dubai since 2008, frequently visiting since 2006. Victoria works as an event director for the federal government, while Marcel has a career in sports technology and IT. Deciding to buy a ground-floor unit was not just a financial decision; it also offered them a sense of security that renting did not provide. Having experienced both renting and homeownership, they aimed to invest in a property that would benefit them in the long run.

Victoria shared details about their cozy living space with a garden and one and a half bathrooms. Although they lack a garage, they have a covered parking spot. Throughout their 17 years in the area, they briefly tried living in Town Square when it opened in 2018 but quickly returned to DIP, reestablishing themselves in a neighborhood they love.

### Why This Property?

The decision to purchase in DIP was influenced by their desire for stability. Victoria mentioned that after 16 years of living in Dubai, they were tired of paying someone else’s mortgage and concerned about rent increases and uncertain lease terms. They have lived in diverse accommodations, ranging from villas to townhouses, but ultimately chose to buy a one-bedroom apartment back in DIP, completing the circle of their home journey.

Prices for similar units have varied significantly, but they secured their apartment for Dh750,000, a favorable price given the fluctuating market, which ranges from Dh500,000 to Dh1.5 million. Purchasing directly from their landlord made the process easier, especially since both Victoria and Marcel are licensed real estate agents and own a family business specializing in real estate.

### Community Life and Future Plans

The couple chose DIP for its tranquil environment and community spirit. Many residents, like Victoria and Marcel, own their properties. The area has been an excellent environment for their two dogs, providing ample green spaces for walks. They appreciate the stability of the apartment’s construction, which withstood extreme weather without any issues.

With plans for further property development in the area, such as the upcoming Dubai World Central airport, they expect property values in DIP to rise. The community is also conveniently located, making it easy to access shopping malls and essential services.

As for home improvements, the couple has made several enhancements to personalize their apartment, including modernizing the kitchen and updating fixtures throughout the space. These changes have allowed them to create a home tailored to their tastes. They have plans to renovate further, indicating a commitment to making this property a long-term investment.

Overall, this apartment represents not just a place to live but a strategic financial move and a personal sanctuary for Victoria and Marcel. They intend to maintain the property as a rental investment if they ever move back to Canada, with aspirations to expand their real estate holdings in the future.