With the rising cost of real estate in Saudi Arabia, real estate financing has become a key solution for many to realize the dream of owning a home. But can this option turn into a financial trap? In the Socrates podcast, financial expert Nabil Al Mubarak tackles this topic and offers valuable advice for those looking to become homeowners, explaining when it is best to avoid mortgage borrowing in order to maintain financial stability.

Mortgage financing has become an increasingly popular option for homeowners in Saudi Arabia.

Mortgage financing has become a popular and beneficial option for individuals in Saudi Arabia who seek to own their first home, but face financial obstacles that make it difficult to achieve this goal without support. Despite the importance of this solution, the decision to resort to a mortgage loan must be taken with great caution, as it can be a "financial trap" that shatters the dreams of some if not done with accurate calculations.

In this context, expert explains. <In this context, financial expert Nabil Al Mubarak explains on the Socrates podcast some of the situations in which real estate financing should be avoided. Al Mubarak says: “If you're young and still in the process of stabilizing your career and family, it's best to avoid a mortgage, especially if you're unsure of your long-term career path.”

Mubarak said. <Al Mubarak pointed out that taking a mortgage requires deep thought, especially in Riyadh, where he urged listeners to think “100 times” before taking the plunge. He explained that it is different if a person lives in one of the peripheral cities where house costs are relatively lower, equivalent to about 10% of house costs in Riyadh, making it easier to make the decision.