Malta offers a wide array of properties which differ in size, finishing and character. The first step when choosing a property is deciding what type of property you wish to purchase. The different types of property could be somewhat confusing, especially for first or second time property buyers.
We have listed a short guide on different types of property, highlighting their differences and similarities, in order to help you make an informed decision when choosing a property.
Should I choose an apartment or maisonette?
While these two types of property are considered to be rather similar, there are some key differences which you should keep in mind in order to know what to expect. Firstly, a maisonette comes with its own independent front door. Therefore, rather than sharing a communal front door and entrance hall to enter your home, you have your own front door, similar to owning your own house. In fact, the word ‘maisonette’ is derived from ‘maison’ in French, which means ‘house’. Consequently, by not having to make use of the communal areas such as the stairs and lift, you will also be excluded from the condominium, which is the annual fee for the block’s maintenance, a compulsory payment for all of the block’s tenants. Furthermore, a maisonette usually includes a yard or garden of some sort as it is often situated on the ground floor. The truth is that it is preferable to own a maisonette rather than an apartment, but if you are willing to own a similar property with less perks, you could find a very comfortable and spacious apartment for a cheaper price than the standard maisonette asking price.
What is the difference between a terraced house and a townhouse?
These types of property are quite different, mainly due to the fact that townhouses are significantly older than terraced houses. Terraced houses can be quite modern and luxurious and usually comprise of two floors and a back garden or terrace. Furthermore, these types of property often have a staircase upon entering the front door, with the main living area situated on the first floor. Townhouses have many traditional features in their architecture such as stone arches, wooden beams, patterned tiles and wooden apertures.
So is a townhouse similar to a house of character or farmhouse?
While these types of property both retain many original features, houses of character are even older than townhouses and are built entirely from stone with very thick walls. Houses of character are ideal for large families as they comprise of many bedrooms. In fact, they are very popular as holiday rentals for large groups. There is a large amount of unconverted houses of character available on the market which require some work in order to be habitable. However, those that are converted are usually sold fast and offer stunning accommodation. Farmhouses were literally houses on a farm and used to shelter animals in the past. However, these types of property have now been converted into charming properties with original features that are truly coveted by people who desire an original property. Furthermore, farmhouses are usually located in the countryside or on the outskirts of villages. Similar to houses of character, these farmhouses are meticulously restored in order to modernise them yet retain the original features that make them so unique.
What’s the difference between buying land, a plot or a site?
Whilst they might all sound similar, the three differ from each other depending on their location and permits. Owning land is usually beneficial for agricultural reasons as land cannot be used for building purposes. If you are interested in owning a piece of land in order to set up a block or build a house on the land, then you require a plot, as these have the necessary permits for building and development. Similarly, a site is a piece of land which can also be developed, however, a building may already stand on this site and can be demolished in order to be rebuilt.
Now, that the real estate terms have been clarified and you are familiar with the types of property available, it is up to you to make a decision based on the information at hand! Still confused? You do not have to make the decision on your own. Contact us if you require any assistance in choosing the right property and we will help you make the right decision based on your property needs and budget.