Benefits for buying on plan for first time buyers in Malta

Benefits for buying on plan for first time buyers in Malta

Buying your first home in Malta should be as memorable as possible. But that doesn’t mean it can’t also be profitable. Being a first-time buyer in Malta can be made easy, if you know what steps to take when you start looking.  

When buying your first property in Malta, it’s easy to be overwhelmed with the costs, particularly for first time buyers trying to get their foot on the property ladder. For this reason, buying on plan is seen by many as a valuable investment.  

Doing so comes with numerous advantages for anyone looking to make their move into home ownership. From Zanzi Homes’ first time buyers schemes that help out with stamp duty, to property deals found scattered across the island. Doing your research on developers, social media, and looking into completed projects can help you maximise your investment. The experienced real estate agents at Zanzi Homes are always on hand to guide you every step of the way.  

Here are just a few of the benefits: 

Buying on-plan gives you time

Purchasing a finished property often requires a short notice period between finding your home and signing the contract. The reality though, is that for the majority of first-time buyers in Malta, cash is tight. Rival bids and unknown building histories can make going for a home that’s been standing for some time, a dizzying prospect.  

Buying on-plan gives you the time to budget your expenses and take advantage of the 10% saving on your deposit before the first brick has even been laid. This full amount doesn’t even need to be paid off until the property is completed. Meaning you get to manage your investment and take the time to sort out the appropriate loan from the bank. The paperwork involved in purchasing a property is extensive. So it helps to have adequate time to gather all of the required applications and documents, plan out your contract and most importantly, ensure that the property plan is to your requirements.  

If you’re a foreigner looking to buy property in Malta and still have some time before settling on the island, or if you’re a young first-time buyer looking to plan ahead, buying on plan in Malta provides you with the breathing space to manage things the way you want them.  


Buying on plan in Malta lets you think big

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It’s an exercise in imagination!

You’ve got the time, now you can dream! The most amazing thing about buying on plan in Malta is that it gives you almost complete control over every aspect of your new home. From the floor plan through to the finishes, the choice is all yours. Layouts, views and even down to how the types of tiles you want in the bathroom. All of these aspects can be revisited before signing the final contract.  

Knowing this, you can play with your budget, seeing what fits and what doesn’t, without compromising on your no-negotiables. Open plan spaces, or under stair spaces? You make the decision. Consider looking into the various Visualisation tools like Houzz, available to help you imagine what your property will look like, long before it’s even finished. 

Invest now, enjoy later

If you’ve thought it through properly, your newly built home should grow as an investment over time. The property market is constantly growing, and with all of the unique financial rewards for first time buyers in Malta, it makes sense to get ahead of the game. Purchasing a property now avoids the risk of having to pay more in the future, as well as starting your savings in bricks and mortar early on.  

You’ll undoubtedly want to furnish your home as soon as it is completed. Buying on plan affords you the time to save money whilst the market inevitably grows, and ensure you can get those items that will make your house a home.  

Find the property for sale that’s right for you

Get yourself a Zanzi Homes estate agent to give you the best advice when buying on plan in Malta

Photo courtesy of Mart Productions from Pexels

Of course along the way, you are going to need partners to help you buy your first home. Knowing which contractor to work with, or the best location for development can be tricky.  The agents of Zanzi homes can help guide you through their list of approved contractors with a focus on client satisfaction. Working with you every step of the way to help your first time, also be your best time.  

David Brookes
Written By

David Brookes