Everyone love maisonettes! Although this may sound extreme, it is what a landlord or investor would do. I will explain. First, a maisonette is ostensibly an apartment with a front door. This type of building seems to have come from nowhere during the 1960’s or 70’s, to be found in pockets of urban areas. This concept was probably born out of the need for small units with high density and suitable for low-rise environments. They have little to no garden but a garage that is located in a separate garage court. Maisonettes can also be viewed from the outside as a house-like replica. They are ideal for families because they often have a garden or a garage. If you find Maisonettes for sale in Malta go get them as soon as possible because it’s the best deal you can ever get.
The garden may be shared with other members of the building, or it can belong solely to the maisonette. It is worth looking into the tenure and plans. Maisonettes were an innovative way to bring more density to the suburbs. These were before apartment blocks became acceptable in these areas. Because it was small, affordable, and easy to maintain, this type of accommodation was instantly popular among the middle-aged and retirees. This perception leads to the impression that maisonettes are not cool, especially when compared to a new apartment. Despite the image problem, there are many reasons I would choose a maisonette over a new apartment.
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Maisonettes Cheaper than Apartments
They are still much cheaper than many of the ‘luxury apartments’ that litter our landscape. They are likely to cost 20-25% more than equivalent space in a new apartment block.
Risk Involving In Purchasing
Many landlords feel that there is a lot of risk when purchasing a flat. A beautiful apartment can be remodeled for a lot of money. If the communal area is drab and uninviting, it will make prospective tenants feel uncomfortable and devalue its capital value. This problem is not present in a maisonette. You can easily upgrade the space and be confident that your investment won’t be compromised poor management.
Maisonettes are Free of Cost
While most apartments will not have the issues of poorly managed common areas as referred to in two, you may be charged a significant service fee at the end. For maintenance of common areas, even a small apartment block, you will need to pay Euros1000 annually. You can reduce your net income as much as 15% without seeing a significant increase in rent. This could easily reach 2 to 3 times in a central city apartment with a concierge and lift. This is not the case in a maisonette. You will only have to pay a ‘ground rental’ if the property is leasehold. This is usually a few pounds per month PS10-50.
Re-let the Space
Storage space is becoming a scarce commodity in these times. All that extra storage space can be an attraction for long-term renters. This means that tenants don’t have to clutter up your beautiful space with all their junk. It should also make it much easier to re-let the space or sell it when it is time.
Maisonettes Great In Values
There is much speculation in the media about whether house prices have reached a tipping point or are they overvalued. Maisonettes are a good investment because they have low risk. Why? Because their replacement costs are equal or greater than their acquisition cost. There is a shortage in housing in the Malta, and the numbers show that this will only get worse. As labor and raw materials cost more, the build costs continue to rise.