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

This Townhouse is set in a beautiful pedestrian road in the village core of Rabat. 20-minute drive from Valletta and airport. Close to all amenities, Rabat historic sites and walking distance to Mdina. This property comprises of two rooms and a toilet. Once converted this property will make a fantas more

€ 55,000

VICTORIA – Selection of spacious two bedroom apartments, enjoying very spacious living areas, two bathrooms, one of which has an en-suite, utility room and back terraces. Location is very central with amenities located just two minute’s walk right into the centre. Being offered in shell form i more

€ 80,000

Cospicua - Maisonette highly recommended as a rental investment or as a bachelor"s pad . Situated in the heart of Cospicua close to all amenities such as Restaurants, Church , and University. Layout comprises of a welcoming kitchen/living/dining, bathroom and bedroom on elevated floor . Ready to mo more

€ 85,000

MSIDA - Set in the old part of this town a Solitary Maisonette with its own airspace for further developement into a two/three bedroom house. Good value and ideal for a couple or first time buyers. more

€ 89,500

New on the market is this Development in Paola close to Mcast. This project consists of Maisonettes, Apartments and Penthouses all being sold in Shell Form. Interconnecting garages are also available within the block more

€ 90,000

New on the market is this Development in Paola close to Mcast. This project consists of Maisonettes, Apartments and Penthouses all being sold in Shell Form. Interconnecting garages are also available within the block more

€ 90,000

BUGIBBA- A studio APARTMENT served with lift measuring approximately 80 sqm at basement level situated a few meters away from the promenade, having an open plan area consisting of a kitchen, living, dining and a bedroom (all in one room), a shower room and a small yard. The property has planning per more

€ 92,000

New on the market is this Development in Paola close to Mcast. This project consists of Maisonettes, Apartments and Penthouses all being sold in Shell Form. Interconnecting garages are also available within the block more

€ 93,000

New on the market is this Development in Paola close to Mcast. This project consists of Maisonettes, Apartments and Penthouses all being sold in Shell Form. Interconnecting garages are also available within the block more

€ 93,000

New on the market is this Development in Paola close to Mcast. This project consists of Maisonettes, Apartments and Penthouses all being sold in Shell Form. Interconnecting garages are also available within the block more

€ 93,000

€100,001 - €150,000

TARXIEN - Ground floor MAISONETTE, located in a quiet area of this village. Property has a footprint of 104sqm and is in need of conversion. Once renovated it will make a lovely three bedroom home. more

€ 118,000

Bright and fully furnished top floor apartment situated very close to the bustling square of this sought after village. Property features a combined kitchen and dining area, a separate living room leading to a quaint terrace ideal for entertaining, two good sized double bedrooms, one of which has en more

€ 138,000

Msida- A brand new two bedroom + study Apartment forming part of a new development and set up in a quiet and residential area. This Apartment comprises of a large back front terrace, combined kitchen/living/dining, main bathroom, en-suite and a study room. more

€ 143,000

Munxar – A nicely furnished one bedroom apartment situated in a peaceful and tranquil location while enjoying spectacular views from the kitchen / dining / living area. Perfect holiday home for those interested in purchasing a cosy getaway in a rural ambience close to Xlendi Bay. more

€ 149,000

Maisonette situated in a very quiet street close to all amenities and is being offered finished. Property comprises a kitchen/ living/ dining, one bedroom (master with en - suite shower). Optional garages available. Not to be missed! more

€ 150,000

€150,001 - €250,000

QORMI - Ready built first floor three bedroom Apartment, forming part of a block of six, situated on a quiet road. Property consists of an open plan kitchen/living/dining area, a main bathroom, three double bedrooms, main with en-suite, and one with a front balcony. Property is being sold finished, more

€ 185,000

LUQA - Second floor Corner apartment located at the outskirt of this village. The layout consists of an open plan kitchen/dining/living area, main bedroom with en-suite, Spare bedroom, bathroom, and balcony. This property is being sold finished excluding bathroom and internal doors.Property will be more

€ 190,500

Gudja - A Selection of 2 or 3 bedrooms apartments just 5 minuets walking distance from the airport. The apartments are to be sold in shell form but there is the option to be sold also fully finished. Some of the apartments benefits from nice open country views. Also there is one which has a large ba more

€ 210,000

Swatar - B'Kara - Set in a very quiet road close to all amenities. This beautiful apartment consists of a separate kitchen/dining, living room, three double bedrooms, en-suite shower, main bathroom, front balcony, washroom and part of roof ideal for entertaining. This apartment is being sold fully more

€ 245,000

New Block of very spacious Apartments / Penthouses in Mellieha consisting of an entrance hall, an open plan Kitchen/Living/Dining, Separate pantry room, 3 double bedrooms main having an en suite and walk in, main bathroom, front big terrace and back balcony. This new block has optional interconnec more

€ 245,000

€250,001 - €350,000

SLIEMA - Cosy 1-bedroom Ground Floor Apartment 1 road away from the Sliema Ferries seafront. Apartment is being sold fully furnished and has a terrace and wash room together with a large double bedroom, open plan kitchen/living/dining and bathroom shower. Freehold. more

€ 265,000

QAWRA - New Block of 3 Bedroom APARTMENTS over 150m² with back yard on the outskirts of Qawra with country views! Selection of 3 bedrooms Apartments consisting of Open plan kitchen/living/dining room, 3 bedrooms (2 double), main with ensuite, main bathroom, back yard & large front terrace opposite more

€ 265,000

Mosta - New on the market is this two bedroom Penthouse including airspace located in a quiet area yet close to all amenities. Property consists of a good size open-plan kitchen/living/dining room.Two bedrooms, main with En-suite, main bathroom. Front and back terrace. Served with lift. To be sold f more

€ 285,000

Swieqi - Brand new on the market fully finished two double bedroom Maisonette. Consists of an open plan, kitchen/living/dining, main bathroom, en-suite and good size back yard. Maisonette is sold in luxury finishes including bathrooms and doors. Freehold more

€ 295,000

Brand new and exciting development in the sought after village of Naxxar. Situated only seconds away from the bustling centre of Naxxar, these larger than average properties are being offered highly and completely finished. This block of 10; 3 bedroom maisonettes, apartments and penthouses is high more

€ 350,000

€350,001 - Upwards

Attard Duplex Maisonette - Highly finished maisonette situated in the best part of Attard. Layout consists of an entrance hall, box room, kitchen/dining/living, a guest toilet and a terrace. Downstairs one finds three double bedrooms - main with ensuite, bathroom, box room and a large terrace. Prope more

€ 360,000

Newly listed spacious well designed Apartment, set within two minutes away from the seafront and close to the ferries. Layout comes in the form of an open plan kitchen, dining, living, 2 bedrooms, 2 bathrooms. Complimenting this property are 2 spacious terraces ideal for entertaining. This property more

€ 364,000

SWIEQI - A newly built, highly finished and fully furnished corner apartment, situated in an excellent residential location. Layout comprises a good sized open plan kitchen/living/dining, three bedrooms, bathroom, shower en-suite and a front balcony and back terrace measuring approximately 6m x 1.5m more

€ 390,000

Victoria – A structurally converted townhouse restored with care to maintain its original features. It has a typical entrance of a townhouse which leads you into a hallway with an entrance to the first two en-suite bedrooms at ground floor level. Further inwards one finds a space which can be util more

€ 470,000

Designer finished APARTMENT in The Fortress City, Citta' Umilissima, "a city built by gentlemen for gentlemen",a living, working city, the administrative and commercial heart of the Islands. A well laid out apartment enjoying a squarish layout and high ceilings throughout the floor, consisting of a more

€ 600,000