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2015: The Return of Super Investments in French Prestige Real Estate

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The high end French real estate market has seen significant price drops over the last few years.

The amount of properties on the market has increased and according to the director of Sotheby’s International of France the prices of properties sold can be 10 to 20 percent less than originally advertised.

Luxury Properties in Paris and Provence are now beginning to sell again with properties in the 5 million euro and up price range moving into the hands of both international and local buyers.

The current market according to Mr Kraft is seeing a return of American buyers due to the attractive exchange rate. The market is seeing the disappearance of Russian and Chinese buyers due to financial crises in their respective countries.

Exclusive and rare prestige properties still exist for sale. If you need a local English speaking French real estate expert who knows the prestige market we can help you make that contact easily at no charge. Contact us here.

Listen to Interview in French here

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Does your French property have a Water Leak?

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As a French property owner you deal with many home ownership costs and one significant everyday expense can be the cost of water usage.

If your French property appears to be using more water than you expect you may wish to check to see if there is a problem.

Perhaps you have a leak somewhere in the system.

Here are some guidelines we obtained from a French plumber: If you are not sure at all about doing this test call a plumber right away.

One
Find your French property’s water meter that is typically located outside on the front of your French property (see sample image above)

Two
Stop everyone on the property using any water and make a note of the reading of water usage on the meter. Then make sure no water is used in the home for an hour.

Three
Check to see if there is any water usage indicated on the meter reading.

If you see the evidence of water usage on the meter then repeat the test again.

If again without anyone on the French property using water there is evidence of water usage on the meter go to step Four.

Four
Make sure all the valves that control water accessing the toilets, pool, water filtration system or any other system in your home that uses water is turned off.

Five
Take a new meter reading and wait an hour.

If there is no difference between the number on the meter before and after this test this may indicate that one of the items you turned off is leaking water or letting water move through when it is turned off.

Use a process of elimination to figure out which and / or get professional help.

If when everything is turned off you see an increase in water usage via the meter you may have a leak somewhere in your piping system and this will mean you need to call a plumbing specialist.

Remember to check for leaks under sinks, beneath toilets, by the hot water tank and around other potential areas where water may leak on a regular basis. Set a schedule on your French property maintenance calendar.

If you would like to speak to an English speaking plumber let us know we may know someone in your area so that will save you the time searching for one. We do our search for you for free.
Contact us here

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Buying French Property 3 Ways to Avoid Surprises

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Sign says “cheese store open Sunday from 4.30 to 5.30 only.” Very casual

If you are considering buying a French property you will need to consider the following three items to avoid some future challenges.

One
Look into the future
Buying a French property whether it is your principle residence or a secondary home is a long term investment. Make sure you consider the long term commitment you are making and how your income will continue over time when you are buying with the aid of finance.

If you feel you will want to change careers in a few years time and start your own business, perhaps buying may not be the ideal plan for you.

Two
Survey Agents
Sometimes French property buyers just call the agent with a property for sale and never really know if the agent is knowledgeable on the market the property is located in. This may mean they do not know about future roads being build, possible industry close by etc.

When you know the area in France you like we recommend you visit a small selection of properties with a selection of agents to find out as much as you can about the area and the experience of the agent.

Ask questions, compare the agents answers and hopefully afterwards you will know more about the area plus you will have found one agent who you feel you can work with.

Then you can start your fully focused search with the aid of a professional.

Three
Plan for Expenses
Even if you are not planning on doing renovations as a French property owner you need to plan ahead for expenses due to home maintenance. You have no guarantee that the home you bought will not have a leak in a pipe, an appliance break down or a problem with the balcony if you live in an apartment.

As a new or potential French property owner it is a good idea to create a digital spreadsheet and create a budget. Include in the budget an allowance for your various property taxes, home insurance, mortgage insurance, mortgage payment and of course, set aside some savings each month so that when you have repairs to do you have the money to do the work.

More helpful articles for Buyers:

Buyers Do Not Know This

How you can Get Help

If you need to find an English speaking French real estate agent we can help you connect contact us here

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Up to Date French Real Estate Market Trends

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Historical site in Arles France

French real estate pricing is very localized.

Even inside a town or village certain amenities, certain proximity and certain construction can change the value of a property.

However, sometimes looking at the historical trends in French real estate can be valuable.

We recommend you take a moment and look at this Housing price data on French real estate market trends brought to you by the government of France. Details in English.

Click here for access

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CAUTION: The Danger of French Property Diagnostics

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Blurred photo from reader

We recently got a first time call from a surprised French property buyer because they were shocked what they found out when they asked an electrician to inspect their home after they had moved in.

As you may know sellers are currently required by French law to supply certain diagnostic reports to buyers as part of the documents of sale.

However, sometimes the reports don’t tell important details that can be a potential financial disaster for the French real estate buyer.

This particular buyer had received reports on the old French home they had bought that the electricity in the home was not connected to the ‘earth (ground)‘ inside some of the plug receptacles.

In fact, the prior owner installed some ‘plug receptacles with the earth’ like this in the French home but none of the ‘earthed receptacles’ in the house was connected to ‘an earth’ i.e. the ground to accept the pulse of electricity in case of a problem in the home due to a defective appliance or more.

Why! Because the home had ‘no earth’, yes, there was not an ‘earth’ attached to the electrical panel like this and the diagnostics reports did not state this.

Unfortunately, when the new owners purchased the property they relied on the diagnostics and as the notary typically declares in the sales documents the new owners accept the property in the condition it is, ‘earth or no earth’ installed.

Lesson learned: Do not rely on the electrical diagnostics for a French property, get a trained electrician to check out the home before you make an offer.

Expensive Lesson: French electrical repairs can be expensive. This couple found out that connecting the earth and fixing all the other electrical problems in the French property were 4800 euros instead of the original estimate of 1700 euros they got for the items noted in the diagnostic reports.

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