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Purchasing a home is exciting as much as it is frustrating, after all it is a big commitment. If you are prepared and have the right assistance, the procedure can be fun! These are a few tips that might help you in the process.
- Savings – Make sure you have at least 10% of the price of the property on hand, as this is usually required as down payment.
- Finances – It is ideal that if you are getting financed by the bank you are aware of how much the bank will give you before starting your search. Too many times clients see a property that they like but the bank then refuses to give them the amount they request. This link can be helpful: Home Loan Calculator
- Expert Advise – As soon as you announce that you’re looking to buy property, you can expect friends and family to come out of the woodwork with all their well-intentioned advice. Remember that principles that may have been true in the past don’t necessarily continue to be so in the ever changing property market.
- Key Features – It’s always a good idea to make a list of key features you want in your new home. Talk to friends and family members who own a home and ask them what features they wish they had or didn’t have. The number of bedrooms, bathrooms, or, do you want an office? Open or closed floor plan. Most likely you will not find a house that has everything on your list so you should prioritise it, which features are a must and which are preferred. Be ready to compromise.
- Hire the right real estate agent – You’ll be working closely with your real estate agent, so it’s essential that you find someone you get along well with. The right buyer’s agent should be highly skilled, motivated and knowledgeable about the area.
We at Belair do our best to provide the best customer experience and professional assistance to clients looking to purchase a property. Our agents go through thorough training to make sure they are prepared to service our clients in the best way possible. Our aim is to make this journey as smooth as possible. If you are looking for your first home or perhaps looking at buying as an investment, give us a call.
In November 2018, ARQ Economic & Business Intelligence, an economic advisory firm part of local professional services company ARQ Group, issued Malta’s first housing rental index. It was no surprise that their research found that the rents in Malta have increased drastically.
Rent increase most pronounced in the North & Western regions
Their research also uncovered that rent increase was mostly seen in the north and western parts of the island. In the north the increase mostly affected three-bedroom apartments, maisonettes and penthouses. Two-bedroom maisonettes also saw an increase. One of the factors contributing to this rise might be foreign workers primarily looking at the Northern regions due to them being commercial and entertainment hubs and also house a large percentage of hotels and restaurants.
Is rent affordability becoming a challenge?
Although there is concern that rent affordability is becoming a problem, we at Belair still find it hard to find available properties for our clients here in the north. We never seem to have enough property on our database no matter how substantial it is. Belair Mellieha branch has been open for two months now and we are on a roll. We have a high demand for rental properties, thus we are always looking for new properties to add to our portfolio. If you are interested in renting your property kindly contact us so we can discuss in more detail and reply to any questions that you might have. Our seasoned letting agents can make this process smooth and hassle free.
The beginning of great things is always the hardest, they say, and that is very true. Starting up a new real estate office is not a walk in the park. From taking the decision, to finding the right location, to the process of setting up and then finally open. Well, that is the easy part!
The Belair Mellieha office
The toughest part is finding the right people to partner with. Apart from the fact that this is a very competitive market and all agencies are continuously looking for people, this career is not for everyone. Many come to talk to us but quickly realise that it is not for them, no safety net, scared off by self-reliance. Others come full of enthusiasm and start full of energy, but quit soon after, realising that relying on oneself to create takes focus and persistence. It’s not just this, we also reject a lot of people if they do not fit the company culture. Belair has always strived to partner with people who have a positive outlook, with a strong sense of responsibility and self-confidence, love working in a team environment, and who have it in them to strive for success and create a reputation they can be proud of.
As part of our induction, we at Belair offer classroom training, however, we believe this is not enough to have the best onboarding experience. Therefore we provide unconventional group training and one to one training to supply the agent with the knowledge and tools required to succeed in this amazing industry. Leads generated from our website and marketing are passed on and for the first few months we work hand in hand with our agents to help them create their own network. The support from the office manager is of course ongoing. This however is not enough if the agent does not have GRIT.
Make no mistake, this is an industry where you must be resilient, and you must be ready to push yourself to the limit. You must be active. Talk to people. You treat everyday as if it is your own business, because it is. The key attribute for success in this industry is mindset. You must want to succeed no matter what and not give up in the face of rejection. No matter how well trained you are and no matter how much support you get from your manager and team, it is you that must put in the work, make that extra phone call, give that extra business card out and put up that one more contact poster.
The second most important thing for someone to succeed, is the company they partner with. It is imperative that one chooses a company where individuals are successful, not only the company. This company needs to have a great reputation and values that you share.
I guarantee, the satisfaction and monetary reward will be worth your while. If you feel that you have what it takes, let’s meet and see if there is a fit.