As mentioned in previous articles life has changed and first time buyers rarely start on the property ladder by purchasing that large house for life. So what are first time buyer’s actually buying?

Many flats have been built and are still being built to cater for this particular market plus allot also depends on what your personal requirements are vs what is actually available at that moment.

However the most common types of property being bought are:

• Flats
• Maisonettes, and sometimes
• Townhouses, and
• Unconverted Houses of Character

Flats and Maisonettes have become the solution to modern day living.  Those who are on a more restricted budget and time frame will opt to buy these type of properties.  The main differences between flats and maisonettes are that with a flat you share a common entrance/area and with maisonettes you have your own entrance.  You could possibly find them at similar prices but there would most definitely be a difference in the total area being bought.  For example you could find a maisonette at the same price as a flat that you’ve found but if the maisonette is smaller, you will then need to decide what is more important to you ; space or your own entrance ?  It’s only upon viewing that you can really make such a decision.

Flats

Flats would share the common area which is the entrance, stairways, lift (if one’s available), roof (if available) plus the facade (outside of the block).  They come in various sizes from the small block that only has two individual flats, to a large block that could have 10 or more individual flats.  Nowadays it’ s become increasingly difficult to find a flat that you have use or access to the roof.  If there’s no roof available check to see where you can actually hang your laundry ?

These properties are often bought by busy individuals or couples who have a more restricted budget and time frame.

Maisonettes

Maisonettes come in different forms and it depends on the block that they form part of i.e. is it just a block of two or three maisonettes or does the maisonette form part of a block of flats ? Basically all maisonettes have their own entrance, stairs, and outside space.  If you are on Ground or Elevated Ground Floor you tend to have a yard with no roof, the other Maisonettes would generally have shared use of the roof.

These properties are also bought by busy individuals/couples and also young families, or couples who are wishing to start a family immediately.

Townhouses

If you’re looking for Townhouses you will find that they are more traditional in style and are a good buy for those who have the budget and the time to renovate them.  They often have old tiles, high ceiling small rooms and a winding staircase up to the second floor.  They make a nice home but some could do with quite a bit of renovation to make them work with todays modern lifestyle.

These properties are bought by those who have the budget, love traditional features and the foresight for restoration projects.  They could suit couples who are in no hurry to move in or don’t mind doing up the place whilst they’re living in it.

Unconverted Houses of Character

Unconverted Houses of Character can still be found nestling behind some hidden alley way.  They are a rare and beautiful treat.  They were very popular and were snapped up at bargain prices by young couples several years ago.  They are no longer so sought after by young couples starting out as they need allot of time, money and will power to complete.  This has become increasingly difficult to achieve with lifestyles having become that more hectic.

These properties are not for the faint hearted.  They are for those who love originality, large restoration projects, are willing to take their time and have the money to complete them. Some people also live in part of the house whilst the remaining part is being finished.  These are high maintenance properties and possibly not the right option as a first home, however if you are in a position to purchase one then they are definitely worth considering.

In the next article we will discuss ‘Benefits of buying different property types for first time buyers in Malta‘.

There are so many choices and so many different properties out there where do you begin? well by having gone through the thought process outlined in our previous articles  you have really made your life so much easier. Try to keep some element of flexibility with your costs, location and wish list because if you are too specific this will create constraints , always try to keep a happy medium.

Furthermore you have really narrowed the search of the ideal property. This helps you stick to what you WANT and what you can AFFORD. You have a higher chance of obtaining your goal, finding your property in Malta that best suits you with the additional benefit of enjoying the whole experience.

When property is discussed or talked about amongst friends many words and phrases are thrown into the conversation. It’s quite possible that you have heard the following terminology casually or that you’ve read them somewhere;

1, Shell

2, Semi – Finished

3, Finished

Have you ever wondered what do they mean ? what are the differences ? and which one should you go for ?

Without being too exhaustive shell, semi-finished and finished are the most common different kinds of conditions you can find a property in . The levels of finishing can range from standard to luxury and this will be reflective in the property type, location and price (the budget you have set yourself).

To help you we have provided you with some general guidelines for the main three typical conditions that you can find a property in:

Shell

A property in shell form is literally the bricks and mortar no more , no less. You will not find any utility connections , tiles, windows nor any rooms completed. These properties best suit those individuals who;

a. Have a specific taste and style and want to finish it themselves,

b. Are in no rush to complete the property so they can spread their costs over a long period of time,

c. Family members are electricians, plumbers, tile layers etc… and can save themselves money in finishing the property and possibly buy a larger property due to the savings made,

d. Buying for an investment and hold the property for sometime before completing it

Semi-Finished

The finishing can vary between properties and owners of those properties. You could possibly find properties being offered with the plumbing and electricity connections ready but no windows or internal doors.  The type of people who would most likely buy these properties are individuals who ;

a. Would like to get a separate quotation from another contractor and complete the property as and when they want,

b. Love the property and will buy it as it satisfies their requirements,

c. Family members can complete the property but have a time constraint so if the plumbing and electricity connections are in place they can begin work immediately

d. Buying for an investment

Finished

With finished properties all you need to do is literally install a kitchen with its appliances and you can move in !  You will generally find the following ready in finished properties;

• Water & Electricity
• Plumbing & Connections ready
• Tiling throughout the property
• Windows
• Internal Doors
• The Bathroom and or En suite completed
• Common area completed
• Facade ready

The type of people who tend to buy finished properties are those who;

a. Want no hassle and to move in immediately once the kitchen has been installed,

b. Too busy to look around for the tiles ,doors,windows etc, and complete the property themselves,

c. Have a set budget and don’t want to exceed it or prefer to know all the costs upfront

d. Investment for rental purposes – you can begin to make a rental income as soon as the kitchen is installed

Shell and semi-finished properties mainly apply to new buildings or fairly modern properties because older properties have a different style of finishing such as restoration work. With shell and semi-finished properties you may also find the common parts ready . This again depends on the contractor so it’s important to clear this with the Estate Agent and have them listed in the contract of sale (convenue/konvenju).

Besides giving you a detailed summary of conditions of properties and what to expect it’s always recommendable that you view the properties. The condition can vary slightly even between the same level i.e. shell. You may find that some contractor has actually provided you with the water and electricity connection.

Take that extra bit of time in the beginning it could save you valuable time later.

Following are general questions that we are often asked we welcome you to take a look.

How long does it take to finish a property from shell form to finished ?

This depends on how you are going to go about it. Are you going to get an external contracting company who will take care of everything or are you depending on friends/family or individual tradesmen.

What’s the difference ?

With a contractor you go to them with your requirements – this is right down to how many  electric points  you want in each room, they will come back with a quotation that will include the price and time frame in which the job has to be completed. With individual tradesmen it can become very tiresome to get them all working in sequence. With friends or family it’s quite difficult to be so particular because you have emotional connections.

Why does it make any difference?

You are much likelier to have the place finished faster with a contractor. More often than not they also have a full team of people employed with them and it’s not down to one person doing all the work. Individual tradesmen , if one person is running behind schedule everything falls behind. With friends and family there’s very rarely a written contract . Basically – you get what you pay for.

How much will it cost to finish my place?

This is the million dollar question and will depend allot on you and how far you have set your sights. Have a budget and add at least another 30% for unexpected costs. Also stay realistic! For example when choosing things such as tiles, kitchens, appliances, bathroom suites. There are many bargains to be found and it’s worth shopping around to get the best deal.

If I buy a semi-finished place do I have to pay for what’s already there?

If there are things like plumbing,electricity, windows etc.. they would be included in the price. However, if there’s a semi-finished place and the previous owners installed a kitchen they would have included this price in the sale price as part of the fixtures and fittings. This could be to your advantage as you find the kitchen ready and you may be able to negotiate the price a little bit.

In the next article we will discuss ’Common types of properties in Malta’.