Engel & Völkers Licence Partner Malta Regional Market Center > Blog > 5 home renovation tips to achieve the best resale value

5 home renovation tips to achieve the best resale value

Property use inevitably leads to wear and tear. Renovation and refurbishment are unavoidable. Renovating certain areas in the house or on the property can have a positive effect on the market value of the property. Engel & Völkers presents you with the five best ideas that will pay off when the property is sold.

- Home renovations to achieve the best resale value: 5 tips from Engel & Völkers. Find out which investments positively affect the property price!

1) Garden paths and driveway

The highest return on the sale of the property is achieved by repairing the natural stone or paving slabs in the garden. This immediately makes the property look neat and tidy. Even before ringing the door bell, the buyer gets a positive first impression and does not stumble about when walking around the garden. He rewards this by being prepared to pay a higher purchase price.

2) Garage door

If looked after properly, a high-quality garage door can be expected to last for a very long time. However, styles change. The appearance of the property is the first, formative impression for which there is no second chance. A modern garage door can have a positive effect on the property prices that can be achieved.

3) Facade renewal

Renovating the facade is one of the more expensive projects, but it pays off. Even cladding with fibre cement panels gives the facade a pleasant appearance, which potential buyers also appreciate and are prepared to pay for. Depending on whether the work is purely for beautification or whether the value of the property is increased by insulation, the return on investment (ROI) is considerable.

4) New windows

Replacing the windows pays off immediately if the property is still in use. This applies at least to condominiums and houses with single- or double-glazed windows. Far more is technically feasible today. Buyers know this too and will take a close look at this feature. Environmental concerns and fear of high operating costs are a deterrent. New windows, on the other hand, are convincing.

5) Terraces and roofing

Having the possibility to sit outside is appealing. An attractive terrace invites you to do just that. Without roofing, however, precipitation and intense sunshine severely restrict its use. Thanks to specially developed systems, skilled property owners can easily carry out this work themselves. The reward: achieving a better price when selling the property.

Measures such as an age-appropriate renovation of the bathroom are also a plus and help to achieve a better price. Such a conversion measure may even be eligible for funding. Another feature that can drive up the property price: the kitchen. Since the Stone Age, home has been the place by the fire and the hot spot of every property.

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Real Estate for Sale and To Let  with Engel & Völkers

Engel & Völkers Sara Grech is the luxury real estate agent that specialises in exclusive properties for sale and to let in Malta. With more than 30 years’ experience, we are one of Malta’s most successful real estate agencies

Located in the heart of the Mediterranean Sea, Malta is a thriving cultural hub that has long been a popular destination amongst expatriates and tourists alike. Partnered with the real estate agency Engel & Völkers, finding a property for sale or rent in Malta is a breeze, and in no time at all, you'll have a spacious apartment with a view or a villa with numerous bedrooms to call your own.

Living and working in Malta

Home to more than 450,000 inhabitants, Malta is the smallest country to join the European Union in 2004. In 2008, it became part of the Eurozone. Though Malta is well-known as a popular tourist destination with plenty of recreational areas and historical monuments including nine UNESCO world heritage sites, it is not known for its luxury properties and real estate for sale and rent! Besides having first-class accommodation, Malta is home to numerous companies and industries ranging from banking and financing to construction, retail, and i-gaming. Working in Malta requires the proper permits, and those seeking employment are encouraged to find a suitable job before moving into their purchased or rented property.

A new residency scheme was launched in June 2013 which allows people to buy a high-value property and pay taxes in Malta to benefit from the residence permit. Under the new Global Residence Programme, the value of immovable property bought in Malta by foreigners has a minimum threshold of €275,000. However, when the property is in the South of Malta or on the sister island of Gozo, the minimum value is reduced to €220,000. This new scheme also allows persons eligible if they wished to rent a property and this has been lowered to €9,600 in Malta and €8750 in Gozo or the South of Malta. The minimum tax to be paid under this scheme is a minimum of €15,000 on income derived in Malta, further income arising in Malta shall be taxed at a flat rate of 35%.

Real estate and property for sale and rent in Malta

Malta has several Special Designated Areas that offer a wide variety of properties to buy or rent! Whether you are looking for a new luxury apartment with views of the Portomaso marina or an expansive villa situated in Santa Maria Estate, our team will help you find a property for rent or sale that suits your needs. From apartments with a view to villas with several, we have it all.

After you've purchased property

For such a small island, Malta is packed with amazing things to see and do. From visiting historic sites to relaxing on beautiful beaches. Visitors can take their pick of activities which will suit any mood or taste.

A selection below are the top destinations that any person should see when coming to Malta. These include Valletta; Mdina; Paceville; Blue Lagoon (Comino Island) and Gozo

Valletta recently voted the European Capital for Culture for 2018 is also a UNESCO World Heritage Site. Valletta is the hub of tourism in Malta and for good reason. It is full of historical significance, with the likes of St John’s Cathedral, forts, and museums and much more squeezed into a tiny area. As far as beautiful towns go with plenty to see, Valletta is up there with the best.

Mdina is known as the jewel in the crown of Malta and it is a fair assessment. The walled city is full of tiny alleys which you can wind your way through, stumbling across beautiful churches and museums along the way. Now effectively part of the town of Rabat, this definitely shouldn’t be left off your Maltese itinerary.

Malta has a reputation for being a destination for the older generation, but Paceville puts lie to that. This is where the youngsters come to drink and party and you can rely on having a good evening out here. It’s not just loud music for teenagers either; there are plenty of civilized bars and restaurants if you don’t want to rave into the early hours.

A beautiful area of clear blue water which is fantastic for swimming and is the perfect place for a day out at the beach. Arguably the best place for swimming in the whole Mediterranean, the Blue Lagoon is located on the island of Comino.

Just a 30-minute ferry trip away from Malta, Gozo is a beautiful, rural island which gives you a glimpse into what Malta looked like a few decades ago. Sleepy villages, rugged coastline, and beautiful countryside all make this a fantastic place to visit. But one of the main draws is the diving off the coast. Malta has been named as one of the best places to scuba dive in the world, and Gozo is one of the best spots to do it.

No matter where your interests lie, Malta has you covered; with Engel & Völkers Sara Grech by your side, your home in this beautiful part of the world is also covered. Contact us today to find out more about our villas, apartments and other properties for sale and rent!

For more information on Malta and our Real Estate Services please click on the following: 

Malta the Perfect Location l Exclusive Properties l Buying a Property in Malta and Gozo l Expenses when Buying a Property l Energy Performance Certificate l First Time Buyers l The Malta Individual Investors Programme l Buy to Let l Special Designated Areas