Hey Scanwing,
You will most definately end up in Cedre villas (basically Silicon), Silicon Oasis or Al Waha (out behind the ranches). We looked into buying our own place and even with the cheaper prices now, it's still ridiculously expensive and you will have to add your own money to the allowance as the allowance is only good if you are buying an apartment or sh!t villa.
Dubai is still bloody expensive whatever anyone tells you, and it's difficult to save much money as an F/O if you are here with wife and kids (i've got 1+2).
Think carefully mate.