If there’s one major decision you’ll need to take seriously in your life, it’s buying your first place (and also choosing a pet cat, dog or ferret, but we digress).
We’d be lying if we said this isn’t going to take a bit of effort; however, there is some expert guidance that can help you make your decisions easier and in a more informed way.
Here are the seven stages you’re going to experience (whether you like it or not) when you’re buying your first house in Malta – and we’ve got some insider tips on how to make it way easier.
1. Looking into your loan options and what you can afford.
Settling for a loan is a bit like taking your medicine as a kid.
You don’t enjoy doing it, but you know you just cannot work your way around it. So take a deep breath, open your front door, and make your way to the bank. Who knows, you might come across a decent bank teller who makes this process a teeny bit more tolerable.
TIP: Calculate how much cash in hand you have right now to cover all the upfront fees.
2. Choosing the perfect locality.
Good news – this is meant to be the fun part, and you can finally decide just how close to mum you want to live.
That is until you realise you’ve got an issue with practically every single Maltese locality. Mellieħa? Might be a bit too far far. Paceville? Not the best place to raise a kid. Benghajsa? Is that in Malta?
TIP: Visit the area at different times of the day and night to get a clear picture of what it would be like living there.
3. Finding a real estate agent.
Amidst the chaos of a house hunt, these guys are a breath of fresh air.
Thanks to them, you can get away with knowing almost nothing about the purchasing process and still get your hands on your dream home. Maybe it’s not all bad after all.
4. Deciding which property is your type.
Are you going for a penthouse, apartment, maisonette or something else?
We’d all love to have a villa with a pool, but it’s important to be realistic here. That said, one should never give up the dream, and there are some great deals out there.
TIP: Someone with experience in this field can really speed things up for you.
5. Making an offer.
How do you go about deciding on the perfect one? You’ll be like a kid in a candy shop after a few house visits – except replace the candy with property worth hundreds of thousands of Euro. So yeah, the stakes might be a bit higher.
TIP: prepare a checklist for each property you list. Rate the property and then start shortlisting.
6. Doubting the entire sale.
It’s normal to feel doubt right before such an important decision – think of yourself as a bride on the altar, basically.
As scary as the next step might be, remember that you’ve done your homework and are investing in your future. As long as the property hits all the right spots for you, you are taking the right step.
TIP: Stick to your checklist and remember your priorities.
7. The waiting time till the property is officially yours.
Congrats. You’re hours away from being a homeowner – or are you?!
After all your research, paperwork and phone calls, meeting the notary and getting the right architect, choosing furniture… you are officially reaching the end of your journey
TIP: Rome was not built in a day. Get help and guidance where you get stuck.
Sounds pretty tiring right?
Worry not! We have had a look at how you can make your life easier, and it seems like local agency Frank Salt Real Estate can do just that, ready to guide you through every step of this scary process.
Not only is the agency’s experience in the industry pretty much unmatched, but it also had one hell of a first-time buyers package which will make your purchasing process way more pleasant.
They’ve been doing this for over 50 years, with over 100 consultants on the ground over 16 sales offices.
Frank Salt Real Estate has also teamed up with GasanMamo Insurance and will provide you with a 50% discount on your first year of home insurance. This package also comes with up to a €250 voucher towards your notary fees when taking your home loan through APS bank. T&C apply.
Wait! The perks don’t end there.
Frank Salt Real Estate’s first-time buyers’ package also comes with some great discounts from some of Malta’s leading kitchen and furniture outlets as well as savings on air conditioners, solar panels, soft finishings, light fittings, white goods and much more.
Now that’s a package worth writing home about.