If you want to buy a property in France there are a selection of important questions you need to ask yourself before you even look at a French property.
One
What are the tax implications?
Are you moving to France or will this property be a secondary residence? How does your home country consider local residents who have external real estate holdings? Are you taxable on your global real estate holdings?
If you are moving to France will you be renting out the French real estate as part of your plans? How will this income be treated tax wise?
There are many questions. Seek professional guidance on tax and legal questions. Perhaps you will find out it is better to rent a holiday home in France and not buy due to tax issues. We can help you find an English speaking French tax advisor.
Two
What exact finance do you have available?
Do you have cash to buy a French property without using any loan or credit? Can this cash cover all the costs of purchasing the property?
If not and you need to organize credit (or you simply prefer to use credit) then we recommend you have a consultation with an English speaking French mortgage broker to find out all the details you need to apply for a French property loan and if, in fact your sources of income can be used to secure a French property purchase. We can help you find a English speaking French mortgage broker.
Three
What part of France do you prefer?
We have been contacted by buyers who say they want to buy on the French Riviera. Others have said South-West France and then some say close to Paris: all very undefined requests.
To have a happy and successful French property purchase you need to know the lifestyle you enjoy (city or rural) and then start to consider what type of property features you desire. Then you can look at the budget you have and consider which areas are within your budget. If you really do not know what part of France to consider you may need to plan a ‘travel around France’ vacation to see what areas may be of interest before you ever consider buying.
To really help you figure out your choices and make it easier for you to find your dream French property home we offer you a money-back guaranteed buyer’s guide, that includes helpful checklists. Details are here.
Find access to English speaking French real estate agents and service providers at ESREAfrance.com
Author
David Hennessey has worked in French and Canadian real estate. He is the founder of ESREAFrance which is easy access to French real estate information in English and English speaking French real estate specialists. GO HERE to get you own copy of Ten Mistakes Made by Most French property buyers and sellers.
