Upsizing, downsizing or investing? What you need to know

  • 20.November 2019
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Have the kids moved out of the house and is it now time to downsize? Are you looking to cash in your flat for a bigger home? Or are you simply eyeing your next property investment opportunity?

Buying a second (third, fourth, fifth…) property can be just as challenging and nerve-racking as the first time around. And there are also several new considerations that you’ll need to keep in mind. So, plan carefully and seek assistance from experts to make your dream of taking the next step up the property ladder a reality.

To get you started, here are three things you’ll need to do when you start looking for your next real estate investment.

DO: Sell your current property.

Yes, this is that moment of full realisation. This is when your second-home dream starts taking shape. Especially if you’re looking to upgrade your home, the likelihood is that you’ll need to sell your current property first (or not too long after).

This is, of course, overwhelming – and maybe a little bit scary! Finding the right buyer, securing the right price and marketing your property well can make the whole selling process quite troubling. Then, you’ll need to organise viewings and muddle your way through negotiations. And where do you even begin?

Seek the advice of an expert. Why? Because now is definitely not the time to make mistakes. Find yourself a reputable property agent because they’re the market experts. Even better, find a company with a clear step-by-step programme that puts your plan into action to get your property sold quickly and at the right price.

DO: Select the right property agent to sell.

We suggest exploring the RE/MAX Exclusive Listing Programme, which guarantees that you’ll get a great deal when you sell your current property in today’s market. It is a convenient, structured and affordable way of getting your property sold at the right price and in minimum time.

The programme’s design is tailored to maximise sellers’ success. You’ll get a complete package of selling strategy, benefits and tips. First, your property will be valued. Then, once you’re on board with the Exclusive Listing Portfolio, your home will be professionally photographed and videoed to get it looking just right. And now’s the time to get in on the market.

Finally, leave it to RE/MAX! This is the fastest and most hassle-free method of selling your home in Malta and Gozo. And it will get you well on your way to investing in a second property.

DO: Seek expert advice when buying.

So, you’ve decided that now’s the time to treat your family to a bigger home or to reap the benefits of a smaller property in your retirement. Luckily, this second time around, you probably have a very good idea of what property you’re looking for and what you can afford. And you’ll certainly have learned some lessons from the first time you did this.

Prepare your lists of ‘must-haves’ and ‘would-like-to-haves’, and get yourself over to your real estate agent. Are you set on a location? Number of bedrooms? Outdoor space? Or maybe a garage and lift access aren’t dealbreakers for you. With this information in hand, you’ll be fully equipped to communicate exactly what you’re after.

Remember that finding the right property agent is a means to an end. Buying a new property and moving is stressful, but an expert – or even a team of professionals – will ensure that you find the right property at the right price.

Just like in the Exclusive Listing Programme for sellers, RE/MAX agents bring their expertise in markets, prices and locations to the table when helping you buy. Your agent is there to assist you and give you the best advice available. So be sure to seek them out, and you’ll be moving into your new property sooner rather than later.

Speak to a member of the RE/MAX team today to start your journey towards buying your next property in Malta or Gozo. And visit exclusive.remax-malta.com for more information.

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