Guide for First Time Buyers in Malta

Thinking of buying your first home? For many, buying a property is the greatest investment of a lifetime – so it’s not something to be taken lightly, or done quickly. With careful planning and time, as well as help from the experts throughout the process, you will be well on your way to becoming a fully-fledged homeowner. With so much to consider, it’s not surprising that the very idea of being a first home buyer could make you nervous. Here’s a checklist of tips to guide you as you take steps towards buying your first home.

Confirm Your Budget

Malta and Gozo are full of properties of all shapes and sizes, in varying locations and suiting every budget — so it’s crucial to establish what you can afford even before you search for your ideal first home. Your first step is to check your finances, and gauge if you will need to take out a loan. If you do, you’ll need to set up a meeting with your bank to discuss the limit of the amount you may borrow, which is usually set based on your salary or a combined income if you are buying jointly with a partner or spouse. Factor in any other expenses you may already have such as the architect’s visits and contingencies for refurbishment, whilst keeping in mind the utilities and general maintenance that would be required before moving in. Once you have your figure, don’t forget to also take any other costs into account, such as furnishings or notary fees and stamp duty which may affect the amount you can reasonably afford to spend on the property. Read this page for more specifics on home loans in Malta.

Property Needs, Wish List and Searching

What we want and what we need in a property can often differ. Even though you might long for five bedrooms and a sea view, you may actually need only three bedrooms in a home where a convenient location for your commute is more important than the vista.

By writing down both your list of wishes and your list of needs for your new home, you will be better equipped to communicate exactly what you are looking for to your agent, including your absolute deal­breaker points as well as any bonus items.

Location, location, location

Once you’ve narrowed down your list of potential properties, now is the time to consider the location of each one in more detail.

Based on your present circumstances and future plans, how well-connected is each house to family, friends, schools, work and so on? Is its location quiet or busy, or does it offer sufficient parking or other local amenities? Each of these considerations could make all the difference between your dream home today, and what will be your dream home in the years to come.

According to a recent survey, it takes an average of 11 property visits to find the perfect home. If you have seen more than that maybe you need to re-clarify what you are actually after and refine your criteria. Make sure you are on the right track.

Make an offer

Now that you’ve hopefully found your first home, you need to make it yours. As well as the price that is being proposed by the seller of the property, it’s a good idea to check out the prices of other similar properties in the area with the help of your agent.ontract is then registered at the Public registry, and the keys to the property are handed over to you – a proud home-owner. Your next headache is moving all your personal items to your home!

Being mindful of your budget as set in point #1, then you may be in a position to make a reasonable offer on the property, and to negotiate. Once you and the seller have agreed on the purchase price, a date is then set to sign a ‘Promise of Sale’ or Konvenju, which is a contract between the buyer and seller that sets out the terms you have agreed in writing.

This Promise of Sale agreement will also include a specific date on which you will meet again to sign the final contract, following a period of time in which the particulars of the property will have been double­checked by the relevant experts.

Sign on the dotted line

After all the planning, lists, searching and checking, at last you can sign the final deed on your new property, and officially become a homeowner.

At that point, you will also need to settle any outstanding balances such as notary fees, stamp duty and your deposit, and your property agent will be able to guide you to make sure you’ve completed everything that you need to do.

Once the contract is registered with the Public Registry, the keys are yours, and it’s over to you to set about making this house into your dream first home!

Speak to a member of the RE/MAX team today to start your journey towards buying your first home in Malta or Gozo.

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First-Time Buyer Trends in Malta

Finding the Right Agent

€50,000 - €100,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 70,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 70,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 85,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 85,000

FONTANA - This apartment (currently 1 bedroom but can be turned in 2) is situated close to the center of Victoria is being sold fully furnished including a very spacious kitchen finished to high standards. The separate living room could be turned into a second bedroom. Great Value! ...read more

€ 87,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 90,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 90,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 95,000

Two bedroom apartment located in the tranquil village of Ghajnsielem, minutes away from the square. The apartment is part of a block of only three units and is being offered in shell form. Apartment is already built and price includes expenses related to the common parts. ...read more

€ 96,000

Marsalforn – New on the market, in one of the best areas of Marsalforn, one finds this one-bedroom ground floor apartment. Unit consists of an open plan Living/dining, separate kitchen, one double bedroom and a good sized main bathroom. Property is being sold fully furnished and ready to move into ...read more

€ 98,000

€100,001 - €150,000

XLENDI – Fully equipped apartment, located on the 2nd floor in a quiet area. Layout comprises of entrance onto an open plan kitchen/living area, two bedrooms and one bathroom. One can enjoy use of amenities and the beach which is a two minutes’ walk from the property. Great summer home. ...read more

€ 125,000

Situated in the heart of Xaghra, this PENTHOUSE comprises of a kitchen, dining and living area enjoying plenty of natural light throughout the day, 2 bedrooms and a bathroom. The property also incorporates two balconies with views, a spacious back terrace, doesn"t have lift and includes airspace. S ...read more

€ 130,000

Marsalforn Apt 7B- A seventh floor shell-form apartment located at the centre of this seaside village, close to all amenities, restaurants, pubs and beaches. Its layout comprises of a combined kitchen/living/dining area, one double bedroom and main bathroom. This apartment can also be converted into ...read more

€ 133,000

Xaghra- This exciting complex is situated in the heart of the very popular village of Xaghra in a quite rural location within walking distance to the main square. This project consists of twenty six apartments divided into three separate blocks and several garages on basement level. There is a selec ...read more

€ 140,000

GHAJNSIELEM - Modern 2 bedrooms APARTMENT enjoying Harbour views from front balcony. Property is being sold partly furnished and includes use of communal pool. Fully airconditioned and served with lift. Lock up garage also included in the price. ...read more

€ 142,000

€150,001 - €250,000

Xewkija – A finished penthouse forming part of a small block of just 4 units. Layout comprises of 3 double bedrooms, one of which comes with an en-suite and a kitchen/dining/living overlooking the large terrace which enjoys magnificent country and distant sea views. Penthouse also benefits from fu ...read more

€ 160,000

A selection of apartments all located in the village of Xaghra, Gozo; enjoying cliff edge views and very close to a lovely square. These apartments enjoy a spacious open plan whilst also enjoying lovely views from the terrace. All are two double bedroom, one with ensuite. The block will enjoy both v ...read more

€ 165,000

HAMRUN - A smart block of only 5 units, located border to Msida, walking distance to Marina. Two bedroom Maisonette, main bedroom with en-suite. A large open plan with front balcony. All units are served with lift and finished to high standards excluding bathrooms and doors. Completion date mid 2020 ...read more

€ 175,000

Blata L-Bajda - New on the market is this Ground floor Maisonette. property consists of an open plan kitchen/ living / dining room with yard and two Double bedrooms. Price negotiable. Freehold ...read more

€ 198,000

ST PAUL'S BAY – New development on the market consisting of 8 units just 2 minutes walking distance from the sea front and close to all amenities. A 2 bedroom APARTMENT consisting of an open plan kitchen/living/dining room, 2 bedrooms, main bathroom, walk-in-wardrobe, backyard and front terrace. B ...read more

€ 225,000

€250,001 - €350,000

GZIRA - Located just off the Gzira seafront, close to all amenities, is this two bedroom Apartment, sold fully finished to high standards. The property is in a small block of four, with a very well finished entrance and common area. Property is an ideal rental investment especially for short lets. ...read more

€ 253,000

Naxxar - Situated right in the heart of this popular town is. The property consists of a spacious 28 sqm living space leading onto a 12 sqm balcony, 3 double bedrooms , a main bathroom, and a washroom which can easily be turned into an ensuite. Measuring 112 sqms internally, these properties will be ...read more

€ 300,000

MARSASCALA - Unobstructed country area and close to all amenities. Entering the property into a large open plan kitchen/dining/living area with large apertures. 3 Double bedrooms , main with en suite and all overlooking the terrace. Optional1 car lock up garage available. ...read more

€ 305,000

Naxxar - Beautifully finished three bedroom Apartment, situated in a quiet street enjoying open views. The property consists of an open plan/ living and dining room, with separate fully fitted kitchen. Property also has three bedrooms and two bathrooms, with one being en suite. This second floor 13 ...read more

€ 315,000

Mosta - Unconverted House of Character located in a quiet street, within walking distance to shops and public transport. Entrance hall leads to a first bedroom, kitchen/dining room then to a central courtyard, two internal yards, two more rooms and spare toilet are found on ground floor level. Anoth ...read more

€ 345,000

€350,001 - Upwards

Naxxar - 2 bedroom furnished penthouse with possibility of 3rd . Layout includes kitchen/living/dining with front terrace ideal for entertaining. Main bedroom with Ensuite and a back terrace with washing and drying area. Permits in hand to develop into a duplex. Lower level : sleeping quarters with ...read more

€ 390,000

BURMARRAD - A third floor APARTMENT with Country Views in this new EXCLUSIVE block. The property is being sold Fully Finished including bathrooms, doors, A/C units and much more. Property has a total layout of approx. 170sqm and consisting of a massive 73sqm Kitchen/Living/Dining, 3 double bedrooms, ...read more

€ 405,000

Attard - A fully furnished modern and bright penthouse, having two large terraces ideal for entertainment. On entering the penthouse, one finds a very spacious open plan kitchen/living/dining. 3 Double Bedrooms main with en-suit and a guest bathroom. Its airspace is including in the price, as is a ...read more

€ 463,000

Sliema New three bedroom fully furnished apartment situated on the fifth floor,forming part of a small block. Very well located just off Tigne seafront and close to all amenities. Layout consists of an entrance hall, open plan fitted kitchen/dining/living, three bedrooms (main with en-suite shower) ...read more

€ 530,000

Rabat - Traditional Townhouse set in tranquil surroundings. This lovely Townhouse is spread on 3 floors and offering a very spacious kitchen/ living / dining, four double bedrooms, three bathrooms, a very spacious backyard, roof terrace and it's own airspace. This Townhouse has original features li ...read more

€ 690,000