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5 steps to follow when buying your first home

 - Lifestyle - Jun 9

Purchasing your first home is quite a large step in one’s journey and often times, one would need a helping hand in not only finding the right home, but making the most out of their purchase. That it is why RE/MAX are bringing us some of the best investment tips to watch out for when making the big step.

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Posted by REMAX Malta on Monday, 31 May 2021

  • Look for the right home

Wise financial decision-making is always important, more so when investing in your first home. Decisions such as this determine the foundation for the rest of your life which is why you shouldn’t pick a house, but look for a home.

This is why RE/MAX’s comprehensive database of for-sale properties in Malta and Gozo is the best place to start to get your foot on the property ladder. Search through a wide list of properties ranging in size, style and budget with the mindset of finding the most suitable home and you’ll definitely come out satisfied.

  • Attention to detail

Avoid as much stress as possible and find agents which will walk you through property features, budgets, governmental incentives, upkeep, daily needs and location. RE/MAX agents are committed to giving you a detailed and insightful experience when looking for your home, making sure you don’t miss a beat.

Every single detail matters and whether its bank loans, notary fees, utility bills and other hidden expenses, it is imperative that first-time buyers get the full picture and feel completely at ease.

  • Make the most of incentives

Many first-time buyers are looking to make the investment of their life time. This not only speaks volumes about the demand for property in an ever-growing sector but the amount of homes in Malta’s market.

Get in touch with a RE/MAX agent and let them walk you through any incentives you can benefit on and make the most out of your first purchase.

Initiatives such as The First-Time Buyers’ Scheme give buyers the opportunity to not pay stamp duty on the first €175,000 of the property’s price.

Moreover, anything over €175,000 is applied a stamp duty of 1.5% (reduced from 5% as part of the government’s COVID-19 measures).

  • Keep a Journal

Get yourself a ring binder and organise all your papers and documents building up to the purchase and maintenance of your house. You’d be surprised how often you will need warranties and receipts from products and services you purchase months ago and you’ll thank your lucky stars that you had everything organised in one neat binder.

Keep your insurance papers, receipts and any other form of documentation to make sure you’re covered all the way through.

Investing in a property is not simply investing in a building, but in your future.

RE/MAX Malta, is the fastest growing real estate organisation in Malta and Gozo. The organisation has been built on a strong foundation of a highly experienced management team, franchisees, partners as well as professionally educated property sales and property letting Sales Associates.

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