News and Answers

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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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The Top 20 Tips for French Real Estate Buyers MUST READ part two

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If you are looking to buy French real estate we have 20 excellent tips for you.

Yesterday we published the first ten, today we have 11 to 20 for you.

Number Eleven
Get Taxing Advice
If you are going to rent out your French property when you are not present make sure you know the tax implications.

Number Twelve
Get Legal Advice
Before you buy so you know the legal implications if you do.

Number Thirteen
Buy without Renting
If your French property is your secondary residence make sure your secondary residence is affordable without you renting out the property. This is because you may not always be able to find renters and this lack of renting may force you to sell your dream property at a loss.

Number Fourteen
Use your own Notary
At the present time you are entitled to have your own notary in a French property transaction. Do not believe the owners or the owner’s agent that you are obliged to use their notary. You as the buyer pay the notary fees and the cost is not reduced if you use the seller’s notary. The fee is simply shared between both your notary and the seller’s notary.

Note: There are English speaking notary’s available in France. Visit here

Number Fifteen
Have your Property Inspected
You may think all is well with your French property when you see the diagnostics but the diagnostics will not tell you if the roof is leaking, if the plumbing is old etc. Consider hiring an inspector to teach you all about the ‘up and downs’ of the property you are considering to buy.

Number Sixteen
Check your telephone and internet
Make sure you do not rely on the owner’s word that the phone or internet connection is good. One person told us recently that the owner said there is internet access to the home but she just did not use it. In fact, the buyer found out their new property had no internet access and they need to rent a more expensive satellite connection.

Number Seventeen
Get Professional Work Estimates before you sign
If you are buying a property that contains, for example, asbestos (amiante) make sure you have a professional estimate on the cost of removal it could be a lot more than you have budgeted for. Also, any electrical or other renovation work needs to have an estimate done before you buy so you are not guessing at the cost. Get more than one professionals estimate on each repair so you can get a better estimate of costs.

Number Eighteen
Know the Cost of Moving
Whether you are moving just across France, across the channel or across the world to your new French property make sure you have budget for the cost of moving. A move in France can be costly.

Number Nineteen
Know your Long Term Plan
If you plan on buying a French property and using it for only a few years and then reselling it make sure you look at the overall cost. If you are just going to use the property for a few years during a summer vacation it may be cheaper to rent than buy.

Number Twenty
Learn Some French Language Freely
Your time in France will be much more enjoyable when you have a few basic phrases or more of French. There are several excellent application that are free that can help you learn French check out Duolingo.com

BONUS: Join our Community
Go to the bottom of this page and join our community to keep in touch and learn lots of valuable information (and also have a record of where you learned these tips.

Learn faster: 110 Tips for French property Buyers – How to get the best price on French real estate

Learn about the guide here

We can also help locate an English speaking French real estate agent in your area of choice in France. Go here for details.  

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