How to Get The Best Bargains for Apartments in Malta
We know that shopping for an apartment can be tough, especially if you want to stay within a limited budget range. You want a place that’s decent, well-priced and situated in the right location. We understand. That’s why we’ve put together this helpful guide with advice on how to get the best apartment deals in Malta.
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Look out for new developments:
The Maltese real estate market is on the rise and there are plenty of new developments for investors to look out for. The great thing about new apartment complexes is that they offer fantastic price breaks that are unheard of with older apartment developments.
New developments are usually cheaper than existing apartment complexes because the developer’s main aim is to fill up the units as quickly as possible so they sell them for a bargain.
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Be willing to compromise:
As a buyer you probably have your heart set on a particular type of apartment. Perhaps you picture living in a modest 2 bedroom with a generous floor plan and open plan living. We hate to be the ones to burst your bubble but you might end up with something else completely different. The key to apartment hunting on a budget is willingness to compromise. You need to be flexible and open yourself up to different options that you may not have considered. For example, you might find an apartment that fits your profile to the tee, but is located a little further away from the location you initially wanted. By keeping an open mind you may be able to snatch up a bargain.
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Evaluate the amenities:
Consider the amenities offered by each apartment complex at your disposal because they provide massive value for money. For example, one of the units on your list may come with a complimentary communal gym and free WiFi, which means you won’t have to pay monthly gym and WiFi fees.
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Stay Prepared:
Property deals are hard to find because they usually get snapped up as soon as they come on the market. That’s why you should stay prepared during your apartment search so that you’re ready to take the opportunity should you come across a great deal. This means you should have the relevant documents ready and make sure to have at least 5% to 10% of the asking amount upfront as a deposit.
Your readiness will show the seller that you’re reliable and serious about purchasing the apartment. So they’ll be less likely to sell it to someone else.
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Timing is everything:
As any real estate expert will tell you, winter is one of the best times to buy property because people are less likely to be looking at that time. This means you should start shopping around December onwards when you’re least likely to come across competition.
Also, ask your real estate agent about the peak selling times of the area you’re interested in so you can hunt for bargains at the right time.
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Be patient:
Real estate guru and investor Robert Kiyosaki has been quoted saying that he looks at 50 to 100 properties before he decides on a purchase. According to him, the more properties you look at, the higher your chances of finding a bargain and this is a well-known secret in real estate circles.
That’s why you need to be patient when looking at apartments in Malta because if you give in too early you might miss out on a great deal.
Conclusion
Great deals are available anywhere. They key to finding them is to be sensible and apply the tips provided on this article. Take your time when looking around and be sure to employ the services of an experienced and skilled real estate agent who will help you through the whole process.
The benefit of hiring an agent is that you’ll have someone who’s knowledgeable about the area and all the new developments both under construction and in planning. Your agent will let you know when it’s the best time to buy in the area you’re interested in, and will help you get the most bang for your buck.
