Before you decide to buy French real estate you need to know your costs. Is not possible to list all the costs associated with a French property purchase here since the cost can change related to the type of property. However, we are going to offer you details on 3 costs that can be significant.
In our last article on Real Riviera we noted that you should get yourself an English speaking French notary. The cost of using a French notary (whether English or French speaking) depending on the type of property can be 7 to 8 percent of the purchase price which means it is a significant amount of money you will need to budget for. For example, for a purchase price of 200 000 euros you pay an additional 14 to 16 000 euros more for notary’s fees.
Tip: You can learn ways to reduce the cost of the notary fees by connecting with ESREA France here
Moving all your personal items from one location to another in France or from your home country to France can be a significant fee. Make sure you have at least 3 estimates on the costs and get everything you agree to in writing.
Tip: Make sure you decide that what you are shipping is really worth shipping. Since if you are paying by weight. Books, for example, could really increase your cost of shipping.
French real estate renovations can cost disturbingly higher than you anticipated. Make sure you get estimates in writing before you decide to go ahead and invest in a property that needs renovations you cannot avoid making.
Tip: Make sure you have the help of an English speaking French real estate agent to help you negotiate with the seller a reduction in price for any needed renovation.
Visit ESREA France on Facebook for more tips here