Close

Buying a property in France

Tips on buying property in France.

1. Foreigners are LEAVING France in droves (shouldn't be news to anyone who reads newspapers).
2. The unemployment level here is one of the highest in Europe and an astonishing 40% amongst under 25 year olds.
3. Young people in the villages are leaving for urban areas so the villages are becoming ghost towns - some even during the summer except on special days (that's been a trend for over 15 years).
4. You might think it's cheap to buy a property in France, just remember it's almost impossible to resell if you're in the country for reasons above.
5. The average property is up for sale for over 2 years except poss. Paris (don't know whether this is a mode or mean average, suspect mode). Longer if you're selling a country property.
6. The British are leaving.
7. People from the Middle East are leaving.
8. The French don't want to buy in France, they're buying in Spain.
9. When you buy a property here, there are lots of hidden taxes.
10. When you buy, assume 7% notary fee.
11. When you buy, assume a nightmare of a syndicate. They're slow and inefficient. Certainly, I've never encountered one which isn't and I have several properties.
12. If you use a real estate agent, they probably won't speak your language unless you're French, Belgian or Swiss French; and assume they don't know what they're doing. Do your own research! Don't rely on what people tell you including the locals and don't assume the estate agent is honest. Caveat emptor!
13. If  you rent, assume an additional 1000+ euros per year for charges plus habitation tax of the same. That's an additional 40,000 euros plus over the next 20 years assuming there's no inflation.
14. In summary, if you do the maths, it's not worth buying in France unless it's the house your last purchase (i.e. the house want to die in). It's far more cost efficient to rent unless you don't mind having a money pit.
15. Read 'A Year in Provence' by Peter Mayle before you buy! It will give you a realistic insight of what it's like dealing with French builders, painters and decorators. The truth hasn't aged in 30 years it seems.

To the moderator - on subject and truthful.

If anyone wants sources for the above, they can contact me.

Hello Serif,

Please note that I have created a new thread with your post on the forum France.


Thank you,
Naomi

New topic

Expatriate health insurance in France

Free advice and quotation service to choose an expat health insurance in France

Moving to France

Find tips from professionals about moving to France

Travel insurance in France

Enjoy stress-free travel to France