France: 10 Mistakes to Avoid when Buying a French property

If you are planning on buying a French property avoid the following mistakes:

Not doing your homework
Before you visit French properties know what you need to have in a home and we are not just referring to the number of bedrooms you need. You need to consider what lifestyle features are important to you. Do you need to be close to a playground for children?
Do you need to be close to the airport for work?

Being Stubborn
Some people decide to buy a French property and they are not willing to take advice from other home buyers. Be open minded, listen to advice and then decide what can assist you. Make sure you make an informed decision and if you feel uncertain never buy.

Not Reading the Details in the Sales Contract
When you buy a property you need to fully understand all the details in the contract of purchase. If you do not, get assistance. You do not want to buy a property that have restriction that will mean you cannot do what you wanted to do, for example, install a swimming pool.

Not Reading the Details in the Mortgage Contract
Don’t expect all the financing details to be the way you expect them. You may have a repayment restriction you never expected. Read the contract and ask questions before you sign and accept your mortgage.

Not Reading the Documents relating to the Co-Property
You need to read all the documentation relating to the co-property you are investing in. Ask you notary so you know what you need to read.

Only Visiting a Property Once
You need to see a property at night, during the day and on different days. Mistakes can be made if you only see a property once. You may have visited at the quietest time of day. If the owner does not want you to see the property a second time, time to start visiting other properties since the owner must be hiding something. Remember to visit all the associated properties including garages, sheds etc when you are buying an individual residence. Remember to visit the pool and other common areas if you are buying into a co-property.

Rushing into the Purchase
If this is your first purchase you need to act with caution so you do not make any mistakes. If can be very expensive to sell a property that you have bought in error.

Not being Aware of Future Expenses
Perhaps you are going to buy a property without professional assistance. Do you know all the future costs? Are you aware of the future property and residence taxes? Have you made allowance for new appliances?

Not knowing the Neighbors
Perhaps you do not think it is important to know who is living next door to you but it is since when you are buying a property you are buying into a community. Maybe you always dreamed of living in a French village but are you aware that sometimes the neighbors will talk….

Not knowing your Future
If you have just started in a relationship with someone it may not be the ideal time to buy a property with them or maybe it is. If you just started a new job maybe it is not the ideal time to buy a French property or maybe it is. Take the time to reflect on your future before you invest.

If you would like to have a chat with an English speaking Bilingual French real estate agent to assist you in your understanding of all involved in the purchase of a French property contact us today.