When deciding to sell your home, ensure you are equipped with as much information as possible and understand what type of market you are selling in. This article covers everything you need to know, from researching the market to understanding what can help you sell your home, even in a slow market.
But the work doesn’t stop once you have received an offer. You then need to make sure you have chosen your buyer carefully, that you understand every step of the legal process and how long each step should take.

Why Sell Your Home?

The decision to sell one’s Malta Property should not be taken for granted or as a last minute decision. It is a huge step that can be forced upon you by changing circumstances.  Getting married, starting or expanding a family, relocating, or watching the family downsize as your children leave your home can all be reasons, as can difficult circumstances such as divorce or loss of income. Of course, some people move for less apparent life-changing reasons – maybe they just want more space, a nicer environment or just feel it’s time to try somewhere else. But whatever the reason, happy or sad, the actual life-changing occurrences that prompt the sale are stressful enough on their own without the added tensions of house buying and selling.
This page is filled with information to make sure the process is as easy and enjoyable as possible. If you feel in control of what happens – whatever the circumstances of the move – you are more likely to find the entire transition less of a strain and more manageable. Even if things don’t go quite according to plan, you will find that the hints in this article and tips will help you to get things back on track – and hold on to your sanity.

Amazingly, almost half the number of people who start off buying or selling end up stopping the process. One good reason for staying put is that your property in Malta is actually better than you thought. With some improvement it’s a much more cost-effective (and painless) way of achieving the desired effect without the enormous outlay of cash and effort.

Unfortunately, many find that when they come to buy or sell their property – particularly if their financial circumstances have changed – they simply can’t find anywhere else they can afford or someone to buy their property.
Real Estate Agents in Malta do not charge for helping you look for a property; they only get paid when someone sells – and when that sale is final.  So this is an incentive for you to look around. If you are selling you are probably looking anyways so it’s a great opportunity to get as much information as possible.  You also need to know if you are able to find something else that would justify selling.

So, the real question you need to ask yourself before you start the process is whether or not you want (or need) to make an effort to buy or sell. If you decide the answer is a resounding ‘Yes’, we can help you. Remember, the more research and planning you put in, both in selling and buying, the less problematic and stressful the process is likely to be.

Move or Improve?

To move or not to move… that is the question. Is it going to be easier and less costly to improve your existing property or do you really need to bite the bullet and desert the homestead?
If you’re moving because you need more space – an extra bedroom, study or bathroom, for example – you might be able to create the needed space within your existing property through an extension. Before you make this decision, however, you need to get a quote for the costs and make sure there are no planning permission problems likely to pop up – such as neighbour objecting to the enlargement of your property. It is also a good idea to remind yourself that the extension won’t happen overnight. You’re likely to be living in a building site for some time and that brings its own stresses and strains.

Once you’ve done the calculations, you can make a decision based on comparable costs: building versus moving. While you’re deciding, don’t forget to find out if home improvement will add value to your property in the longer term, too. You can do this by asking your local real estate agent, who can usually give you a good idea of how much the changes will add to your property’s value.

The Cost of Moving

You need to think about various costs involved in selling your property. This isn’t difficult and can easily be broken down into ‘must spend’ and ‘possibles and probables’. The list will vary depending on the type of property, the selling price and the company that you use to move home.
You will then need to budget for everything that is individual to you such as: cleaning, fixes and storage.

The Value of Your Home

Property values are frequently headline news, and people often contemplate the value of their property versus what they paid for it. Needless to say, everybody wants to have made money on their Malta Property – it means that, when they come to move, the next property can be larger and/or more desirable, or the loan can be that little bit smaller.
While property does (generally) go up in value, realistically your property is only worth what someone is willing to pay for it at the time it is advertised for sale. For this reason, it’s worth doing a bit of research before calling in the real estate agents. In that way, you can gauge what the market is like, what kind of properties are up for sale and, most importantly, what kind of prices different properties are achieving.
To start your research, look at some local property papers. Usually you find these in a real estate agent’s office or they may be pushed through your door once a week. Local newspapers – either bought or delivered free – also often have a property section. Study these papers for a few weeks to see what’s on offer.
Once you have the materials, sit down with a large tea, coffee and a pen and paper and start thinking about your own property. What are its main features and selling points compared with the properties for sale? To compare more easily, make a table listing all the important points, with your property at the top and add other similar properties for sale.

Once you’ve filled in the table, it will be easier to think like a buyer. Now start asking yourself some questions. Are there a lot of properties like yours on the market – or only a few? Over several weeks, is your type of property selling quickly or slowly?
Make sure you remain detached when doing your comparison. Check the list with your partner, family or friends to make sure you continue to be objective and are not letting those memories colour your conclusions. Now that you have a good idea of what real estate agents call ‘comparables’, check to see over the next few weeks which estate agents are selling properties similar to yours. It’s also a good idea to have a quick look around the neighbourhood to see which properties are up for sale (and with which agents) as not all properties will be advertised in the papers. Do your own market watch over the next few weeks, checking on which agents are really selling properties compared with the ones who just have ‘For Sale’ signs up.

Equipped with this well-thought-through buyers’ view of the market, you should now:

• Have a good idea of the minimum and maximum value of your home
• Know which real estate agents in Malta are most likely sell your property if you were to allow them to.
• Pretty much understand what it takes to start your mission.