Your a bit over on housing costs, NG-F, it does depends where you live. But the usual pilot ghetto's are Arabian Ranches, 3bed+Study+maids+familyplayroom with a lake view 3000sq ft is about Dh 150,000. Similar in Emirates Living-Meadows/Springs. Go to Victory Heights you could easily get 4/5 bed almost 5000 sq ft. for the same sort of price. Prices still falling as well, so you should be able to remain in pocket on housing.
Lots of useful info on housing and living in dubai here:
Dubai Expat Forum for Expats Living in Dubai - Expat Forum For Expats, For Moving Overseas And For Jobs Abroad
Dubai does have a chronic under supply of school places, so prices are high, and waiting lists long for the most popular schools. It's not unusual for people to have to supplement school fee's, so you will probably be out of pocket there.
The bond is 24k amortising over 3 yrs, you will do a 738 conversion course whatever so there is no weaseling out of it. There are however more expensive bonds in the world over longer periods too.
Keep in mind flydubai is not I repeat not a western airline, if you come you need your eyes wide open, and your wits about you, and beyond taking the money expect nothing. Guys like BurDubaiBob don't get that pissed off for good no reason, it is a long long way from perfect, that said and at risk of getting flamed I will stick my neck out and say there are quite a few worse airlines to work for in the Middle and Far East.
Up side: the money is not bad for a 737 gig, pay is regular. 42 days a year leave. Your in Dubai probably the city of choice in this neck of the woods. The aircrews are all pretty good, with the odd loose cannon thrown in to keep you on your toes. Brand new top spec aircraft.
Down Side: Dodgy destinations, Kabul and Erbil in Iraq probably most notable. Lots of flying to airfields in the moutains with an NDB at 1 end and CbTs on the other. US Airforce management techniques can be....interesting, so be good and don't cock up; you will be asked to consider you employment options if you do. Leave not notified until 2 months before so planning is a pain, currently on a straight seniority basis. Pay and terms and condition predicated on the pilot market, economic down turn resulted in a 10% paycut. Not yet reversed and nothing on the horizon. The schedule/roster can be a real horror, deep night reports 02:00 or so for a 4 sector night duty finishing at 10am next morning, within 10mins of min. rest before you got to darkest Africa on the evening of the same day. It's legal but not pretty.
Tried to be reasonably even handed, I'm sure other may well chip in.
Personally for me, its good so far and have no complaints at the moment I'm in the "happy camp". Pilots do however operate in a fluid environment always subject to change.
Cheers
F-C