What percentage of French people own their own property?

Some of our international readers ask us recently ‘What percentage of French property owners own their own real estate?‘. This question was to help investors decide if the rental market was a valuable option.

The answer which we found on Explorimmo is that as of the end of 2011, 57 percent of French people own their own real estate which is considerably lower than the European average of 67 percent.

Source article: click here

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Moving to France Tax Questions to Consider

If you are planning on moving to France or recently arrived you will benefit from planning on how to deal with tax matters as soon as possible.

When you are buying French real estate and planning on moving to France do you know the answers to the following questions:

Did you know tax residency in France is not just about day counting?

Do you know when you become a tax resident in France?

Do you know the different tax levels including wealth tax in France and if a ‘wealth tax holiday’ applies to you.

We are not tax consultants but if you need advise we can connect you an English speaking tax advisers. Contact us for guidance here. 

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France: 10 Mistakes to Avoid when Buying a French property

If you are planning on buying a French property avoid the following mistakes:

One
Not doing your homework
Before you visit French properties know what you need to have in a home and we are not just referring to the number of bedrooms you need. You need to consider what lifestyle features are important to you. Do you need to be close to a playground for children?
Do you need to be close to the airport for work?

Two
Being Stubborn
Some people decide to buy a French property and they are not willing to take advice from other home buyers. Be open minded, listen to advice and then decide what can assist you. Make sure you make an informed decision and if you feel uncertain never buy.

Three
Not Reading the Details in the Sales Contract
When you buy a property you need to fully understand all the details in the contract of purchase. If you do not, get assistance. You do not want to buy a property that have restriction that will mean you cannot do what you wanted to do, for example, install a swimming pool.

Four
Not Reading the Details in the Mortgage Contract
Don’t expect all the financing details to be the way you expect them. You may have a repayment restriction you never expected. Read the contract and ask questions before you sign and accept your mortgage.

Five
Not Reading the Documents relating to the Co-Property
You need to read all the documentation relating to the co-property you are investing in. Ask you notary so you know what you need to read.

Six
Only Visiting a Property Once
You need to see a property at night, during the day and on different days. Mistakes can be made if you only see a property once. You may have visited at the quietest time of day. If the owner does not want you to see the property a second time, time to start visiting other properties since the owner must be hiding something. Remember to visit all the associated properties including garages, sheds etc when you are buying an individual residence. Remember to visit the pool and other common areas if you are buying into a co-property.

Seven
Rushing into the Purchase
If this is your first purchase you need to act with caution so you do not make any mistakes. If can be very expensive to sell a property that you have bought in error.

Eight
Not being Aware of Future Expenses
Perhaps you are going to buy a property without professional assistance. Do you know all the future costs? Are you aware of the future property and residence taxes? Have you made allowance for new appliances?

Nine
Not knowing the Neighbors
Perhaps you do not think it is important to know who is living next door to you but it is since when you are buying a property you are buying into a community. Maybe you always dreamed of living in a French village but are you aware that sometimes the neighbors will talk….

Ten
Not knowing your Future
If you have just started in a relationship with someone it may not be the ideal time to buy a property with them or maybe it is. If you just started a new job maybe it is not the ideal time to buy a French property or maybe it is. Take the time to reflect on your future before you invest.

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Dramatic French Property Financial Changes

French property news in the Global Property Guide talks about French Property Capital Gains changes, Reduced Rent Control Changes, More interest Free loans plus about New French Government measures to help simplify Frances building code to inspire builders to build.

Read the full article in English here

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French Property Move 15 Tips to Make the Move Less Stressful

If you are moving in France or to France here are some of the best tips we have:

One
Make a Detailed List
When you are moving to France or to a new home in France it makes a lot of sense to create a list for all the items you put in each box. Then stick the list to the box and keep a copy of the list on your computer or phone. You can also put a number on the box and put this number on the list, just in case someone tears the list off the box during the move.

Remember to be detailed rather than just noting ‘books’ on the box state what type of book or even more specifically ‘French school books belonging to John’.

The value of the list is that when you move there are certain items more important than others so you need to know exactly where they are.

Two
Get Excess Packing Materials
When you are moving to you typically need more boxes and wrapping materials than anticipated so make sure you get more than you need when you prepare for the move. Also make sure you have plenty of tape and rope to seal the boxes. You can order inexpensively here in USA here in UK here in France

Three
Pay Attention to the Weight
You and your friends and the movers may be strong but if the boxes are too heavy they may break under the weight or they may be too difficult to move on arrival when less strong people try to move them. Make sure the boxes are moveable by the less strong in the family.

Four
Organize Your Clothes
You may have all your clothes at home in the same wardrobe or closet but when you arrive in your new home certain clothes will be more a priority than others so make sure they are accessible and clearly noted on the box. For example, if you need particular clothes for work keep them aside.

Five
Create a Color Coded Map
Draw a plan of your new home and color code each room on the map so that when the movers or your helps arrive they can look at the map and know in exactly which room the boxes need to go. Make sure of course there is a piece of color paper on the door of the room that matches with the map to made things go smoothly.

Bonus: the color coding idea works across different languages if you have a multicultural group of helpers.

Six
Keep Things Together
When you pack Lamps pack with bulbs, when you pack the computer pack along with it cables, the printer etc find ways to make sure that when you go to look for items they are organized in a way you can find the complementary item easily. If need be use window envelopes or clear plastic bags to store small items so you know what they are.

Seven
Tools and Garden Items
If you have a lot of tools and you do not have a mobile tool box this may be the ideal time to invest in one that you can simply roll into the moving truck, if you have garden tools these need to be keep together and sharp items need to have corks, for example, to help avoid injury to movers during the move.

Eight
Plants
If you have plants to move you may need to make special arrangements so you can bring them to your new location. Check with a local gardening store to see if you can move the plants you want to your new location, perhaps the climate may kill them or even the long journey.

Nine
Sell Some Stuff
As you pack it is an ideal time to consider do you need to keep the old bicycle at the back of the garage you have not used for years, you could give it away to a charity or sell it in a number of way or give it to a neighbour. This rule can easily be applied to many items simply ask yourself when is the last time I used this item, if it is over a year perhaps it is time to get rid of it.

Ten
Evaluate the Value
Sometimes when you are moving you may decide it is less expensive to sell an item and move it, perhaps and perhaps not. Do research online ahead of time.

Eleven
Last Minute Items
The items you need to pack last are to be the items you do not need right away, winter clothes can be packed away in the summer and vice versa, if you have several computers you can pack all but one for the last few days. This will help reduce the stress of the last few days of packing.

Twelve
Cleaning Machines and Materials
If you are going to be cleaning up your property before you leave makes sure you have these materials available and make sure you have enough to do the work. Also make sure you have cleaning clothes and the machines (like a vacuum) you may need to clean available. You will also want to make these materials available for cleaning of your new home. Extra gloves and perhaps a bag of dust masks will be beneficial. Buy less expensively here in USA here in UK here in France

Thirteen
Remember to Use Your Suitcases and Sports Bags
No need to carry bags empty. Put the appropriate items in your suitcases and sport bags, perhaps, sports equipment in the sports bag.

Fourteen
Carry Valuable Papers
Avoid packing valuable papers like passports and other documents in with your files and into the back of the moving truck. If something happens on the route with the moving truck or your vehicle you want to minimize the negative impact. Also make sure you carry with you your list of all the items that are packed this is very useful if you have to make an insurance claim. Remember to have insurance for the move.

Fifteen
Personal Boxes
You may wish to have certain items you and other family members need right away packed in color coded boxes, coded for the individual so that each person knows right away where his or her personal stuff is.

Keep in touch and learn more about how to find your ideal property in France and make a low stress move

Below you can get your free introduction ebook about French real estate mistakes to avoid

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