Category: French Real Estate

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Retiring to France Thinking of French Real Estate

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If you are thinking of retiring to France and potentially buying French real estate, here is a short but not complete list of things you need to consider.

  • Owning or renting French real estate.
    You need to consider the tax and inheritance perspective including local property taxes as well as other taxes. Estate planning and inheritance are important whether you are renting or buying.
  • Pension, savings and investment options as part of your retirement planning. Think about the cost of tranferring a pension from you home country to France etc.

First steps that must be included to see what is possible is:

Your application for residence for retiring to France

Your Long Term Visitor Visa and Visitor Residence Card

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200 000 French home owners would not get credit

 

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Thousands of French property owner’s who were approved for a mortgage last year would NOT qualify for the same mortgage again this year according to this article in French in LeFigaro.

200 000 French property home owners of the 1 200 000 who obtained French property mortgages last year (that is not a small portion of the new French property owners) would not get the credit they got if they applied again this year and the reason why they would not qualify one year later is because their qualification was so tight last year that with the small increase in mortgage rates makes them not qualifed this year.

This is a big risk to take to purchase a property so close to one’s maximum power to purchase.

One of the recommendations in the article is to make sure that you have a larger down payment to reduce the amount of the mortgage you are using to buy your French property, a simple but effective way to protect yourself again rising interest rates.

In addition, buying a less expensive French property can also reduce the likelihood of you being financially stretched.

Remember, it is important to not spend too much on your French real estate purchase so that it does not become a stressful ownership experience.

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French real estate: Does a swimming pool increase the value of your property?

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French real estate: Does a swimming pool increase the value of your property?

To install or not to install that is the question about a swimming pool in France.

Due to the cost of installation and the cost of maintaining a swimming pool in your French property you may be wondering is it a good idea in terms of return on investment.

According to this article in French in LeFigaro, there are over 3 million homes in France with a swimming pool.

On average, according to the online real estate appraiser Meilleurs Agents, building an in-ground swimming pool leads to an increase of 16 percent in the sale price of a French property but it varies according to where you live. If you live in a seaside resort area in France you will actually have a lower increase in value, proximity to the sea is important and regularity of sunshine.

Make sure you check with your English speaking French real estate agent to find out the value of installing a swimming pool or buying a home with one compared to about and get professional advice on the cost of maintaining or
repairing a pool before you buy a home with one.

It is also worth noting that if you live in an apartment residence with a pool you will most likely have higher monthly fees compared to a residence without a pool. So make sure you check this cost before buying.

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Warning: You can may no longer be able to rent your French real estate

 

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In France, as of January 1, 2023, the most energy-intensive using real estate accommodation will be prohibited for rental (except seasonal rentals).

This becoming a big headache for owners of French real estate that has a DPE of F or G.

Interestingly, as noted in this article in LeFigaro, many of the French property owners believe it is the responsibility of the state to pay for the work
that needs to be done, perhaps because subsidies have been availalble in the past.

Make sure that you have an accurate DPE on the French real estate you are considering buying and find out the costs of upgrades before you make an offer.

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