France is such a beautiful country that it's no wonder so many people want to live here. Whether it's in the cosmopolitan city of Paris, the sunny coastal city of Cannes, or even the charming storybook-like Marseilles, living in this country is a dream come true. Especially when you've bought your own apartment. Renting is all well and good, but you can't replace the security of actually owning property in France. So if you want to live here, you might as well buy an apartment here! Don't worry! It's pretty easy to do as long as you follow a few tips like preparing your budget, visiting the apartment yourself, and listening to experts.
Prepare Your Budget
Before anything else, you need to set a budget. Remember that most properties in France, whether it's a luxury apartment in Paris
or a villa in Cannes, are pretty expensive. Real estate in France is no joke since there are many people who would kill to live or simply have property here. It shouldn't surprise you that you'll likely spend millions even for a rather small apartment. Nevertheless, the home isn't the only thing you'll spend your money on. You also have to pay fees to your real estate agent, the notary, pay the proper taxes for owning property in France, and more. Are you sure you can afford all that?
Get a Real Estate Agent
Speaking of getting a real estate agent. Not that you're required to or anything, but it does make it easier if you get one. If you're not in the field of real estate yourself you can always use some professional help. Even more so if you're a foreigner relocating here
. No matter how often you've visited France before deciding to buy an apartment here, there's no replacing what locals and professionals know. They can get you the best properties that fit your budget, are located in the area you want, and more. Also, they'll do all the grunt work for you!
Do Your Research
But don't just rely on your real estate agent either. There's only so much they can help you with, especially if you're truly ignorant of what it means to buy a France apartment. At the very least, you ought to do some basic research yourself. And this doesn't just pertain to the property at hand, either. Remember that when you buy an apartment in France—or any other place in the world, for that matter—there's more to it than the actual home itself. Say, for instance, you're buying a place in Paris. Is the neighborhood
good? Is it close to public transport
? What kind of people live near the property? These are the questions you ought to research more on!
Seek Help with Your Finances
Let's go back to your budget real quick! When talking about money in buying an apartment in France, know that the country offers many ways to help fund your purchase. Fortunately, according to Expatica
, fixes mortgage rates in France are quite low. They're mostly around 1.1%, making it easier for you to get the finances you need to buy your new home. Moreover, the country also offers a few assistance schemes you might want to check out. For example, there's the Prime Accession
, a purchasing grant for first-time homeowners in France. You can also go for the Prêt d’accession social
housing loan if you come from a low-income household.
Visit The Apartment Yourself
Visit the apartment in France you want to buy as much as you can. In fact, it'd be great if you're already living near the area. But if you're still living in a foreign country, visiting the place at least twice or thrice before finalizing your purchase is a good idea. This is because there's no replacing seeing the property in person. Remember that you're going to spend a lot to own this apartment. The place should fit your standards. It's okay to trust your real estate agent with all the other details, but when it comes to checking the apartment's overall quality, that's one thing you have to do yourself.
Examine The Location Properly
Another thing you ought to check more than once is the location. Remember doing proper research? Well, this is part of it! More than just checking the quality of the apartment you want to buy, you ought to look around the area yourself. And don't just do it once either! There's no telling how much a place can change over a few weeks and months, even more! A whole year can pass and the area where your apartment in France is located can look like an entirely different place. So for as much as you can, visit the property often!
Always Listen to Experts
Once you're whole-heartedly sure about buying the apartment in France, it's time to deal with all the legal stuff. From contracts to property laws, it can get pretty complicated pretty quickly. Even more so if you're coming from a foreign country. You're probably not familiar with all the legal issues you will face when buying property in France, are you? In this regard, it's time to put your faith in your real estate agent. Always listen to what they have to say and for as much as possible, follow what they tell you. Also, seek their advice as often as you can. You never know how that can help in the future!
Don't Hesitate To Sign The Compromis de Vente
When purchasing an apartment in France, you might be asked to sign the compromis de vente
very early on. And when that happens, don't hesitate to do so. Don't worry, this isn't your final contract. Even when you sign it, you'll still have a window of time for when you want to back out and go for another property. The reason they'll ask you to sign the compromis de vente
(and why you should go ahead and do it) is that it legally binds you to the agreement. But for you specifically, this lets the other party reserve the apartment for you, blocking any other buyer from purchasing it before you can pay the deposit!
Buying an apartment in France is far from easy but it's also not impossible. To ensure that you get a great place and more, just follow these tips on purchasing property in this country. They might help you out more than you realize!