Do you know what is included in a French apartment’s monthly charges?
If you are buying a French apartment you need to know the amount of the monthly charges that are typically billed every 3 months and you need to know what is included.
Let us consider first what maybe included:
In general, French apartment charges may include: (yes, it varies from building to building)
Charges may include:
Central Heating costs
Water costs
Elevator maintenance costs
Insurance costs
Maintenance costs
Management Company cost
There may be many other additional charges like electricity for lighting in the residence, cost for a caretaker, cost for maintaining the gardens and swimming pool.
It is really important to remember that apartments with central heating where you have, for example, hot water heating that is heated by a central boiler and piped to each apartment are typically apartments with higher than average monthly charges. Similarly if there is a caretaker or swimming pool with the residence you are looking at paying higher than average charges.
The key is to consider the long term cost of the monthly charges that in some buildings are so high the charges could actually be equivalent to the amount you would pay on a mortgage for another property.
Always ask to see written copies of the charges for a property before you invest and ask for written verification if they are any extra future charges going to be added.
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