So you want to find that perfect hideaway in France? You may have already decided on a ecifi
So you want to find that perfect hideaway in France? You may have
already decided on a ecific area or you may have a French region
in mind, having been there on holiday.
Finding a property in France
is a similar proce to that in most other countries. There are
many estate agents in France (agents immobiliers) who will put
you in touch with people selling property. Indeed, we have links
with many of them ourselves.
Many home buyers are attracted by the fact that property prices
in France a ear to be much lower than, the UK for example. There
are reaso for this and before you start you should be aware
of the following points:
French domestic property is not usually bought as an investment.
Apart from some very fashionable or highly sought-after areas,
prices usually just rise in line with inflation. Therefore, you
would need to own a home for at least three years to recover the
high fees a ociated with buying, even without accounting for
any maintenance or improvement costs.
France has a similar population to the UK but is three times
the size. There is therefore le pre ure on land and hence lower
prices. Many rural areas can be very isolated with people moving
away to the cities.
That isolated farm/cottage set between fields of vines next to
a ru ing stream may sound idyllic, but may require major renovation
and improvements. It might not have the same a eal to a French
family, hence the lower price; and you should co ider the po ible
difficulties with resale in the years to come.
We do not want to put you off of "La bo e vie en
France" but it is e ential to start with the realities before
embarking on the buying proce . One of the most common mistakes
made by people buying an old property in France is to underestimate
the cost of restoration and modernization. If the property needs
work doing to it, then get accurate estimates from a master builder
(maitre d'oeuvres) before signing any form of contract. Better
still, have a structural survey completed. This can be expe ive
and is not normally done in France (the term "surveyor"
does not have the same meaning), but it will provide rea urance
if you have any doubts at all. This can be arranged on your behalf.
In many ways, the French purchase proce affords a certain amount
of protection to the buyer. A formal contract is entered into
at an early stage. This could even be on the day that you see
the property and agree a price with the person selling it subject
to a statutory seven day cooling off period. This initial contract
makes it difficult for the vendor (seller) to pull out without
financial penalty, thus reducing the risk of someone coming in
with a higher offer. It is also difficult for the buyer to withdraw
as well without forfeiting their deposit.
One of the main things to bear in mind is that France still uses the Napoleonic law. Basically this mea that you ca ot disinherit your children, even if you don't like them! This can cause problem with couples in a second or third marriage. There are ways of working around this, Tontine's, marriage clauses and the setting up of a ecial kind of limited company called an SCI.
We would strongly recommend that you seek legal and/or financial advice before committing yourself to a purchase.
already decided on a ecific area or you may have a French region
in mind, having been there on holiday.
Finding a property in France
is a similar proce to that in most other countries. There are
many estate agents in France (agents immobiliers) who will put
you in touch with people selling property. Indeed, we have links
with many of them ourselves.
Many home buyers are attracted by the fact that property prices
in France a ear to be much lower than, the UK for example. There
are reaso for this and before you start you should be aware
of the following points:
French domestic property is not usually bought as an investment.
Apart from some very fashionable or highly sought-after areas,
prices usually just rise in line with inflation. Therefore, you
would need to own a home for at least three years to recover the
high fees a ociated with buying, even without accounting for
any maintenance or improvement costs.
France has a similar population to the UK but is three times
the size. There is therefore le pre ure on land and hence lower
prices. Many rural areas can be very isolated with people moving
away to the cities.
That isolated farm/cottage set between fields of vines next to
a ru ing stream may sound idyllic, but may require major renovation
and improvements. It might not have the same a eal to a French
family, hence the lower price; and you should co ider the po ible
difficulties with resale in the years to come.
We do not want to put you off of "La bo e vie en
France" but it is e ential to start with the realities before
embarking on the buying proce . One of the most common mistakes
made by people buying an old property in France is to underestimate
the cost of restoration and modernization. If the property needs
work doing to it, then get accurate estimates from a master builder
(maitre d'oeuvres) before signing any form of contract. Better
still, have a structural survey completed. This can be expe ive
and is not normally done in France (the term "surveyor"
does not have the same meaning), but it will provide rea urance
if you have any doubts at all. This can be arranged on your behalf.
In many ways, the French purchase proce affords a certain amount
of protection to the buyer. A formal contract is entered into
at an early stage. This could even be on the day that you see
the property and agree a price with the person selling it subject
to a statutory seven day cooling off period. This initial contract
makes it difficult for the vendor (seller) to pull out without
financial penalty, thus reducing the risk of someone coming in
with a higher offer. It is also difficult for the buyer to withdraw
as well without forfeiting their deposit.
One of the main things to bear in mind is that France still uses the Napoleonic law. Basically this mea that you ca ot disinherit your children, even if you don't like them! This can cause problem with couples in a second or third marriage. There are ways of working around this, Tontine's, marriage clauses and the setting up of a ecial kind of limited company called an SCI.
We would strongly recommend that you seek legal and/or financial advice before committing yourself to a purchase.
