Buying your first property? This guide walks you through the steps

The Housing Ministry has launched a guidance document for people looking to buy their first property.

Launching the First Time Buyers Step-by-Step Guide at the Public Service Expo, Housing Minister Roderick Galdes explained this document was created with the aim of offering clear guidance to those who are about to purchase their first property, to assist them throughout this significant process in their lives, including information on the first-time buyers’ scheme, which grants these individuals €1,000 per year for ten years.

This guide assists prospective buyers through all stages, including processes related to bank loans for the purchase, the sales contract, up to the moment the buyers start living in their new residence.

The guide also provides practical advice on what buyers are encouraged to look out for, as well as information on schemes and services offered by the government to support them in achieving their aspiration of becoming homeowners.

The minister emphasised when a person is about to purchase their first property, it is a major step in their life.

He explained that for many, this step can present new experiences and challenges.

“Therefore, to address all of this, this document will provide step-by-step guidance to these prospective buyers. We are once again pleased to support those who intend to purchase their first property, including many youths, through this comprehensive guide,” the minister said.

Housing Authority CEO Matthew Zerafa said the document will assist young people in making informed decisions when taking the crucial step.

The guide can be accessed from this website.