5 Important Things French Homebuyers Do Not Know

When you are buying a property in France or any part of the world there are some things many home buyers don’t know but need to know.

We received an article that is just as valid in the French real estate market as in North American. It talks about these five important items.

For example,

One

Many home owners do not realise that when they are buying a French property they are buying two things, the home and the financing.

In general, when interest rates rise a property long term becomes much more expensive. The monthly payment is always the key.

Some people negotiate with the owner on the purchase price of a French property when they need to make sure they negotiate even more with the French bank officer.

Read the five tips in the full article in English here  you will see how the article written for the North American market is just as valid here in France.

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

What is a Succession in French real estate?

When you are buying French real estate you may see an advertisement stating the French word ‘Succession’. This term is typically used when a property is being sold due to a death in a family. In English, in general, we would refer to this as an ‘inheritance’ of a property.

Make sure you fully understand the nature of purchasing a property that is part of a ‘Succession’ as it can be complicated. Speak to your English speaking French notary for advice.

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

What does the French real estate term Bail mean?

The French real estate term bail refers to the lease of a property.

A bail or lease is typically a long term rental plan.

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

The Best Ways to search for French real estate

Here are five excellent ways you can find your new French real estate investment. There are more but check these out.

One

French real estate websites

There are many different websites that carry advertisements for French properties including some websites that gather information from numerouss other websites to help reduce your search time. However, in France there still are plenty of properties that never appear on a website.

Two

French Newspaper Ads

It is not unusual for a French real estate agency or private individual to only put an property advertisement in a newspaper ad and not advertise the property on a website. So make sure you take the time to look at the local ads in your area of choice.

Three

French Real Estate Agencies

Make sure you contact French real estate agencies in your area of choice to see if they have properties for sale that they have not advertised on their website or in a local paper. IMPORTANT Note: in France at this time there are still agencies who do not use websites or don’t post all the properties they have on their website.  One way to save yourself time is to contact an English speaking French real estate agent who networks with other agents in your area of choice this can help you find your ideal property easier and faster because they will contact numerous agencies on your behalf.

Four

French Notaries

If you have a special request for a rare French property that is not often on the market make sure you are in touch with English speaking French notaries in your area of choice since they can let you know if there are working on an inheritance transaction that may eventually involve the sale of your dream property.

Five

French Neighbors

If you speak a little French make sure you connect with your neighbors to find out about property coming on the market.

Looking for English speaking French real estate expertise? contact us here for guidance

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

Paris Real Estate: Buying property difficult for 82 percent of young Parisians

At the end of 2012, according to a study by the University Paris-Dauphine and le Crédit foncier, young Parisians are finding it more and more difficult to find affordable French real estate in the place they currently live.

Only 18 percent of the 25 to 45 year olds who live in Paris have the ability to afford to purchase a property that suits their needs.

This is a sharp change since in 2007 when 28 percent of 25 to 45 year olds who live in Paris could afford to buy a property that suited their needs.

Read the full article in French here.

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.