8 Questions to Ask If You Are a First-Time Buyer in Malta
Are you a first-time buyer looking for a property to buy in Malta? The process of buying a house is not an easy one. If you have never bought a property in Malta before, or anywhere else for that matter, you might be a little nervous. Buying an apartment is a big deal. They say that your home is your biggest liability! If you are looking for your first house, you will need to search all the property for sale in Malta for something that suits you. As a first-time buyer, you might not know where to start looking for apartments for sale. At Zanzi Homes, it’s our mission to help all of our clients find their ideal home. Our trained Sales Specialists are the go-to property agents in Malta. Get in touch with a Zanzi Homes Sales Specialist today! From start to finish, they will be with you every step of the way. Your dedicated Sales Specialist will take you on your first viewing and they will be with you when you sign on the dotted line. At Zanzi Homes, we have the biggest property database in Malta. If you are looking for a buy-to-let property in Malta, our Lettings Specialists at our sister company, QuickLets, can help you rent it out once you’ve completed the sale.
Buying an apartment in Malta won’t happen overnight. It’s often a long process and this can be daunting for any buyer, first-time buyers in particular. When you are looking for an apartment for sale in Malta, there are some questions that you should definitely ask. You can ask before, during or after a house viewing. These questions will help you determine whether or not the property is a good choice. For this blog post, we have put together a list of the top questions for first-time buyers to ask. Even if you already own a property in Malta and you are looking for an investment property, these questions will still be useful:
Why is the property on the market?
This is one of the most important questions to ask when you’re buying an apartment in Malta. Are the sellers looking to move in a hurry? If this is the case, you might be able to get away with a lower offer and walk away with a bargain. On the other hand, if the owner has put the property on the market just to get a feel for how well it might do, you might have to put in high offer for them to consider it.
Has the property undergone any major works or renovations?
This is especially important if you are planning to rent out the property. If you want to rent your apartment in Malta as short let, you will need to obtain a licence. Before you are given a licence, someone will come to check that the property is safe and that it matches the plans. If a previous owner made any changes to the property, without submitting the plans and getting planning permission, you won’t get a licence. You would have to restore the property to its original state, which could be costly.
What will be included in the sale of the property?
If you are buying a property on plan in Malta, then chances are you are just buying shell. Some developers include things like the bathrooms in the property price. Otherwise, the owner might want to sell fully furnished (especially if they are moving abroad) or including white goods.
How old is the property?
Older properties might require more maintenance than newer builds. With an older property, you may end up having problems with the plumbing or the roof. The age of the property is definitely something worth considering when you’re figuring out your budget. You may have to put some extra money aside, on top of your mortgage repayments, to cover maintenance costs.
What are the neighbours and the local area like?
Are the owners selling because they have neighbours from hell? Do your research and see what the neighbours are like. You might not get much information from the seller, especially if the neighbours aren’t amicable or considerate. Perhaps you could arrange a viewing when neighbours are likely to be home. During the viewing, see if you can hear traffic noise or noise from local restaurants or bars. Is there a shop nearby? You never know when you’ll need to run out for some milk, and you won’t want to have to get in your car and drive somewhere.
Does the property come with a garage or parking space?
This one is self-explanatory. Anyone who drives in Malta knows how much of a nightmare it can be to find a parking space. If you are looking to buy a home in a built-up area, such as Birkirkara, you’ll want a garage. No matter how lovely the property is, it will soon get tedious if you have to drive around the block 5 times before you find a parking space. And carrying all the shopping a long way won’t be much fun either.
How much can you expect to pay on bills?
This will depend on how efficient the house is. Ask the current owner how much they usually spend on household bills every month. Also, make sure that the owner has settled any outstanding bills before you buy the property. In Malta, the owner is responsible for any debts to the energy company, even if the previous owner is at fault for not paying. You don’t want to buy an apartment and then get lumped with a huge bill!
Is the property part of a condominium? If so, are there any fees?
If the apartment you are interested in is one in a block of apartments, then check if there are any fees. How much will you need to contribute towards the upkeep of the common areas and exterior of the building? Is there a property management company who takes care of everything? How often do the owners get together for meetings? If the property is one at the top end of your budget, definitely make sure you will be able to afford the mortgage plus the fees.
Don’t forget that your Zanzi Home Sales Specialist will be there to help you. They’ve done this a million times before and they will help you ask the right questions. Drop us a line today if you’re a first-time buyer looking for their ideal home!