Navigating Property Purchases

While renting is common, property ownership offers stability and potential investment returns:

Purchase Process Overview

1. Property Search (2-6 months) - Online portals: SeLoger, LeBonCoin, Logic-Immo - Estate agents (take 3-5% commission) - Notaires sometimes have listings

2. Offer and Negotiation - Make written offer (offre d'achat) - 5-10% negotiation common outside Paris - Include conditions (mortgage approval)

3. Preliminary Contract (Compromis de vente) - Sign at notaire office - Pay 10% deposit - 10-day cooling off period - 2-3 month completion timeline

4. Mortgage Process - French banks prefer 20% minimum deposit - Debt cannot exceed 35% of income - Fixed rates common - Insurance required

5. Final Sale (Acte de vente) - Sign at notaire office - Pay remaining balance plus fees - Receive keys and ownership

Costs Beyond Purchase Price

- Notaire fees: 7-8% of purchase price - Estate agent fees: 3-5% (if applicable) - Mortgage fees: 1-2% of loan amount - Property taxes: Annual taxe foncière - Maintenance charges: For apartments - Renovation costs: Older properties need updates

Foreign Buyer Considerations

- No restrictions on foreign ownership - Need French bank account - Tax implications in home country - Consider currency exchange risks - Inheritance laws differ from common law countries