You don’t have to but it is a great idea to Force yourself to invest in French real estate. Let me explain why.
Most likely with your bank you can have the bank transfer 100 euros each month from your checking account into a special savings account so that after five years you will have 6000 euros in your savings account not including any compound interest you have earned. This is a Forced savings plan and a great way to get you to save money. You can learn more about this important habit in this book
Yes, at the end of five years you will have 6000 euros in the bank but what if instead you had French real estate?
You can also buy a home in France, one of the most beautiful countries in the world, and enter yourself into a forced savings program. Each month when you pay money off your typical French mortgage you are paying money against the outstanding principal of the loan.
Psst! French real estate is not as expensive as you may think contact us to find out more.
As you are paying your loan down you also have the opportunity to see the market value of your French real estate increase assuming the right market conditions. In addition, you are no longer paying rent, which is good since rent is simply you paying the mortgage of another property owner.
Eventually, when the mortgage is all paid through your forced savings plan you will have your own beautiful French home rent free.
If you want to speak with an English speaking French mortgage broker so you can get the details you need to obtain a French mortgage you can contact us and we will place you in contact with a French mortgage broker at no charge or you can visit this page for direct contact.