Things to consider before buying a property

A. Muscat, 11 Dec 2015

Do your research

Nowadays you can find a lot of information online. So before viewing a house, you may want to check on readily available information on the locality and facilities around the area. You may consider things like schools around the area, parking availability, parks, public transport access and vicinity of shops. It is also important that you have already established your budget and have talked to your bank if you intend to obtain a loan.

Lion Malta has information on the different localities in Malta that you may refer to.

Check out the neighborhood

Before you decide to buy the house go to the neighborhood a couple of times before. Try to choose different times of the day and also different days of the week so that you can assess things like noise levels and busyness of the streets.

Be critical of the property

Assess the property carefully! Make sure that you look for signs of maintenance issues. It is important to spot cracks and damp spots on walls and ceiling as these may be a sign of bigger issues. You should also consider how much refurbishment and amendments you need to do in the property to make it livable or to change it according to your taste. It is important that you consider all these factors also vis-à-vis your budget.

Ask questions to the seller

The seller has most likely already lived in the place so he may be a very useful source of information. It is also important to ask for the reasons why the seller is selling. If his reasons are weak make sure you are more skeptical!

Ask the realtor

If the property is being sold through a realtor they can usually provide you with a lot of valuable information and insights. They can tell you how long the property has been on the market, whether the price has changed over the months and also what the feedback of other viewers was.




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