When you enter into a French real estate buying process you need to be well prepared.
As you know we are here to help you learn French real estate information and connect with French real estate service providers to help you make your purchasing process a successful and happy experience.
Here is an example of how one person planned for a successful and happy French real estate purchase. These are 5 tips he recommended all buyers use.
One
CDI
At this moment in time the best path to getting approved for a French property loan is to have a CDI. This is a type of French employment contact that banks prefer buyer’s to have. Read an explanation here, if one of the buyer’s or the buyer does not have a CDI getting approved for a French mortgage is difficult.
Two
Bank Approval
When you want to buy French real estate the first step is, as we shared in our guide, is to get yourself approved by a French bank. Of course, this is if you are not buying all cash. You need a simulation of finance ( explained in this article ) to know what is your comfortable buying price range. This buyer got the documents the bank needed to create a ‘simulation de finance’ so they learned the maximum purchase price he could go to with the deposit he had on hand.
Three
Budget Planning
Once the buyers had his bank approval he decided that he wanted to buy a property that gave him no more expenses than what he currently had while renting. After assessing his renting expenses he knew he could handle the same amount each month so the goal was to buy a home that cost him no more on a monthly basis than he currently paid for renting.
Four
Lifestyle Choices
This person took the time to decide what is important in terms of his lifestyle that he wanted to continue in the area he would buy in. He reviewed his lifestyle, what he enjoyed, what his family enjoyed and noted the features the new home needed to have. Note: Our French property buyer’s guide comes with convenient checklists to help you make sure you focus on what is right for you in a French property purchase.
Five
Property Value
The French property buyer also knew that if he could buy a property that needed work but was liveable right away over time he could build equity into the home, therefore, he intentionally looked for a property that fitted these criteria.
The buyer using these tips plus more he knew and had a successful purchase and is happy in his new French home.
P.S. The buyers is myself and my family so you know the story is real.
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Want to learn lots and be a wise French property buyer check out our French property 110 tip buyer’s guide.
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