Moving to a new place usually begins with the same old question, Can we afford this? Families thinking about moving to Sharjah will be pleased to know that the city provides an affordable and well-balanced way of life when comparing it to its neighbor, Dubai. Regardless, each family will have their own unique requirements, and therefore, using a cost calculator prior to renting or placing children in school becomes extremely important.
The family-friendly nature of Sharjah stems from the ability of the city to provide for the family’s residential comforts, a sense of culture and accessibility. However, there are many aspects of a family’s budget, including but not limited to; rent, utilities, school tuition, grocery shopping, health care, transportation, and leisure activities that need to be factored into a realistic budget. Using a cost calculator to breakdown these individual categories, and then inputting those figures, will give you a better idea of what your actual monthly commitments will be.
Understanding the True Cost of Family Living in Sharjah
Housing Costs: The Largest Piece of the Puzzle
The housing expense is usually the greatest percentage of a family’s expenses. Rental costs in Sharjah vary by area, by the type of property rented, and by what type of amenities are provided at that location. For example, a two bedroom apartment in an area connected to other areas (Al Majaz and Al Nahda) will likely be less expensive than the same size/amenities apartment in a different area located across the border in Dubai.
If families want to rent villas in Sharjah then they will need to take into consideration the amount of space that they require in their villa and the type of community facilities available. Villas can be more expensive than apartments but they can also be worth more for families that have a larger number of members in their household.
To use a cost calculator begin by inputting your annual rental cost and then divide the total by 12 to get your monthly rental cost. Next add the maintenance fee that you pay each month, parking fee that you may be required to pay per month, and the security deposit that you would be required to pay prior to beginning your tenancy. This way you won’t be surprised by extra charges.
Utilities and Everyday Services
Electricity and Water Bills In Sharjah Are Based On Consumption And Property Size. The use of air-conditioning units is likely to be a major contributor to increased expense in the warmer months for larger villas. Additionally, internet and mobile package costs are also typically fixed. Families that have remote workers or children attending school online tend to opt for faster speed plans.
Seasonal adjustments should be included in a reliable cost estimator. Summer electric costs in Sharjah are typically two times higher than they are in winter. Using this as a basis, an estimated yearly average cost of utilities and services can be divided into 12 monthly payments to help account for any fluctuation in costs over the course of the year.
School Fees and Child-Related Expenses
Education is usually the second most expensive item to rent in many places. Sharjah has a large number of private schools that follow the International Baccalaureate (IB) curriculum and those from India, America and other countries. The costs for each school and each student will vary widely.
In addition to tuition, there are a host of other fees associated with enrolling your child in school in Sharjah, including registration fees, uniform costs, textbook/curriculum materials, travel to and from school, and participation in sports and/or clubs. All of these additional costs can add up very fast. When you use your cost calculator to determine what the education costs will be for your family, include all of the expenses of attending school and not just the published tuition rate.
For younger children, parents may need to find a place to put them while they are working; this is typically referred to as daycare or nursery school. In Sharjah, the costs for daycare and nursery schools vary depending upon the location and how many hours per week your child attends. Before you make a decision regarding how much to budget for daycare or nursery school, compare prices for full-time vs part-time care.
Transportation and Daily Commute
A large number of Sharjah residents also have jobs in Dubai, which impacts their transportation expenses. The impact of commuting costs can be significant with families that have vehicles; they will need to consider gas, vehicle insurance, Salik toll charges for entering Dubai, and routine vehicle maintenance when deciding how much to spend on a vehicle for their commute to Dubai.
Public transportation is generally less expensive than owning a vehicle but can take longer to arrive at your destination based upon your specific route. Use a cost calculator to determine whether you would save money over time by relocating to an area closer to your job rather than continuing to incur additional fuel expenses from commuting to your job in Dubai.
Groceries, Dining, and Lifestyle
Sharjah has supermarket options for every budget – from low-cost brands to luxury shopping options. The amount you will spend on groceries for an average family depends on eating style, preferred brands, and number of people in the household. If you eat at home most nights it will help reduce your monthly expenses, but if you dine out frequently, your expenses could be higher than expected.
When creating a realistic entertainment budget, families may need to include funds for visiting local parks, malls, cinema or cultural events. Although entertainment in Sharjah tends to be less expensive than in Dubai, there are still things that have to be planned for. Include a flexible lifestyle allowance when you create your cost calculator so it accounts for how you live now, not just how you will survive.
Healthcare and Insurance
Health Insurance is required in the UAE. Many employers offer health insurance as a benefit to employees; however, many families will be required to increase their level of coverage or have to obtain an additional policy to cover family members. Doctor visits, prescription medication and dental care are all expenses that could add to the monthly costs for a family if they do not have full medical insurance coverage.
When you plan your budget and/or expense calculator, make sure to account for your annual premium cost for health insurance. This includes dividing the total cost of your annual premium by 12 (one-twelfth) to get the average monthly amount so you can calculate this as part of your entire estimate.
Why a Cost Calculator Makes All the Difference
Financial Stress is often the result of Guesswork. A Cost Calculator that provides an organized, step-by-step process helps eliminate guesswork and replaces it with Clarity. The calculator should allow for customization to fit a family’s specific Lifestyle. A family with two school age children and one car will spend much differently than a couple with a toddler and remote jobs.
Divide your calculator into categories: Housing, Utilities, Education, Transportation, Groceries, Healthcare, and Leisure. Add a minimum of a 10% Contingency Buffer to provide for unexpected expenses. In this way, you are able to assess whether or not Sharjah fits within your Income Range.
Expert Guidance for a Comprehensive Living Cost Calculator for Families
At Keyspace Realty and Keyspace Dubai, we give families the confidence to make informed property decisions. We provide current listings, rental trends, and comparable neighborhood reviews directly on our sites. We also want families to visit Everything Sharjah to get a better understanding of what it’s like to live in each school district and neighborhood in the emirate. When you combine your actual market knowledge with practical information about how to live in each area, families are able to put correct numbers in their cost calculator. They will then be able to use real data and community knowledge instead of assumptions when making plans for moving.
Sharjah is an excellent choice for families who are looking for a good value for money and a comfortable lifestyle. The use of a detailed cost calculator allows you to replace uncertainty with certainty when making property purchasing decisions and it enables you to proceed with the confidence that your financial plan will support your long term family objectives.
Frequently Asked Questions
How reliable is a living cost calculator for Sharjah?
Living cost calculators can provide an excellent estimate of what you will need based on realistic input information. The accuracy of a living cost calculator is dependent on the detail and honesty of the information entered with respect to your lifestyle and spending habits.
Is Sharjah less expensive than Dubai for families?
Yes, in most cases. Typically rent and school fees are less expensive in Sharjah; however, in many cases commuting expenses could negate some of the savings if you work in Dubai.
What is the largest expense for families in Sharjah?
Typically housing is the largest expense followed by education. In most cases, both housing and education together constitute the majority of a family’s monthly budget.
Do I include savings in my cost calculator?
Yes, include savings as a fixed monthly obligation. By including savings in your cost calculator, you will ensure that you maintain your financial stability and do not spend all of your earnings.
How large of a buffer should families consider when creating estimates?
A ten to fifteen percent contingency buffer can help cover unexpected expenses that families incur (e.g., medical bills, car repairs, etc.) or school-related extras.
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