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Buying property when single doesn’t have to be a daunting task. These days, more and more young professionals are going it alone when entering the real estate market, signifying a possible change in future home-buying trends.
Finding a house or an apartment in Malta suited to your tastes and budget isn’t always easy, which is why Frank Salt Real Estate have gathered a few tips for all single buyers out there.
1. Budget, save, calculate
Consider every single expense and budget accordingly for each of them, including your down payment and fees related to legalities or maintenance. Remember to set an affordable budget from the beginning and stick to it, as setbacks could appear in the case of a health issue, job loss or similar unforeseen incidents – if your desired property is well above your means, such instances could make things a lot harder.
2. Always ask for advice
You may be living on one, but after all, no man is an island. Consult parents, relatives or even friends who have purchased property in the past. Bring them along when house hunting. Having a small group of people to whom you can ask questions and get a few tips can make all the difference, and could stop you from making potentially fatal mistakes.
3. Think ahead
Life is unpredictable, and you’ll never really know what you’ll be doing or where you’ll be going a few years from now. You could be faced with an opportunity to relocate for work, or meet someone and plan to get married. In the latter case, allowing for a spare bedroom or some extra living space is a good idea. Alternatively, consider turning your property into a rental investment if you already know that in a few years your circumstances will change.
4. Consult an experienced estate agent
An agent with a good knowledge of different areas and an ability to listen and accommodate your needs is a highly valuable asset to have throughout your search. They can save you time and offer important advice and tips, sometimes even having useful contacts which could make the whole process that much easier for those buying property when single.
If you’re looking for a reputable and leading estate agency in Malta, look no further than Frank Salt. We’ve been helping people find homes since 1969, taking pride in a service that is friendly, efficient and reliable. Contact us today for more information on how we can help you find the house or apartment of your dreams!
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