Your Guide to Buying Your First Property in Malta

1. The Promise of Sale (Konvenju)

Once your offer is accepted, both you and the seller will sign a Konvenju (Promise of Sale) in front of a notary.

📝 What happens at the Konvenju:

• You pay a 10% deposit (unless otherwise agreed).

• You also pay 1% of the stamp duty as a provisional payment.

• Key clauses are included, like:

- Subject to bank loan approval

- Subject to Planning Authority permits

- Agreed completion date (usually 3 months from signing)

📌 Tip: Choose a notary you trust—they’ll guide you through the legal maze and protect your interests.

2. Between Konvenju and Final Deed

This period usually lasts between 4 to 9 months. Here's what needs to happen:

🔍 The notary will:

• Conduct title searches to ensure the property has no outstanding debts or legal issues.

• Prepare the final deed of sale.

  
  

📐 Your architect (if needed):

• Submits plans to the bank.

• Conducts a site valuation.

  
  

🏦 You’ll need to:

• Finalise your bank loan (submit all required documents).

• Take out life insurance (required for the loan).

• Take out building insurance (also required before signing the deed).

• Confirm with ARMS and local council regarding any pending utility bills or ground rent.

  
  

3. Signing the Final Deed

🎉 It’s the big day! The final deed is usually signed at the notary’s office or your bank.

Here’s what happens:

• The bank transfers the loan amount to the seller.

• You pay any remaining balance (stamp duty, notary fees, ground rent, etc.).

• You and the seller both sign the final deed.

• The keys are handed over—you’re officially a homeowner!

  
  

🏡 Congratulations!

New home owners moving in

4. After the Keys – What’s Next?

The deal is done — but there are still a few things to check off:

📋 Update your details:

• New ID card address

• Transfer ARMS (utilities) account

• Update your postal address with relevant services

  
  

💶 Apply for post-purchase grants:

• First-Time Buyer Grant (up to €1,000)

• Adaptation Grant if the property needs accessibility improvements

• REWS schemes if you’re planning solar or energy upgrades

  
  

🧹 Final move-in prep:

• Deep clean before moving in

• Plan furniture delivery or renovation schedule

• Get to know your neighbours and the local council

  
  

5. Embracing Your New Home

From the moment you sign the Konvenju to the second you hold the keys in your hand, the journey can feel long, but it’s worth every step.

Stay organised, ask questions, and use tools that simplify the process.

📲 With Yitaku, you can track your property journey, get reminders for key deadlines, and access tips like these whenever you need them.

Congratulations, first-time buyer. You made it home. 🏠

6. The Importance of Community

Once you've settled in, it's crucial to engage with your new community. Building relationships with your neighbours can enhance your living experience. Attend local events, join community groups, and participate in local initiatives. This not only helps you feel more at home but also fosters a sense of belonging.

7. Maintaining Your Property

Owning a home comes with responsibilities. Regular maintenance is key to preserving your property's value. Schedule seasonal checks for plumbing, roofing, and electrical systems. This proactive approach can prevent costly repairs down the line.

8. Personalising Your Space

Your new home is a blank canvas. Take the time to personalise it to reflect your style. Whether it's a fresh coat of paint, new furniture, or landscaping, make choices that resonate with you. This is your space, and it should feel like it.

9. Financial Planning for Homeowners

Owning a home is a significant financial commitment. Create a budget that includes mortgage payments, property taxes, insurance, and maintenance costs. This will help you manage your finances effectively and avoid any surprises.

10. The Journey Ahead

As you embark on this new chapter, remember that homeownership is a journey. There will be challenges, but also countless rewards. Embrace the experience, learn from it, and enjoy the comfort of your new home.

With these insights, you're well-equipped to navigate the exciting world of homeownership in Malta. Enjoy every moment of your new adventure!