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French Property for Sale
Old and new
French property for sale of the residential variety currently covers as wide a range as it is possible to imagine - and for Brits much of it is remarkably inexpensive. It comes in a number of basic categories, of which the most important are also the most obvious: old and new for sale. Of the two, the more popular with British buyers is the old. But the old, too, can be divided into a couple of categories: the more or less decrepit and the more or less renovated. There's also a third category: vacant land for sale on which to build your own design, something that might appeal to those with energy to spare and a readiness to take on a serious challenge. It is worth remembering that there is far more vacant land for sale in France than there is in the UK - an important factor in house prices when you consider that in the UK the value of the land is often greater than that of the house built on it.
While the French themselves, like most of their fellow Europeans, hanker after some picturesque chunk of old masonry in a no less picturesque setting, the practicalities of everyday life mean that most of them with children of school age have to settle for a modern dwelling as close to the town and schools as possible. This leaves much of the older property up for sale, especially out in the sticks, to eager, energetic and, not least, financially resourceful Brits.
A key decision
But however eager you may be, buying a French property in France should never be undertaken lightly. Even if you're going for a well-appointed, easy-to-maintain modern property, the French world of property and property purchasing (and selling) involves numerous differences compared to the British - and that's not counting the language!
Even if your French is OK and you're confident about being able to navigate through the French system, or to get somebody to do it for you, you can still come unstuck because of failing to be entirely clear about your objectives and their financial implications. Are you planning to retire to France, now or later? Are you purchasing to let? If you're expecting to commute between Britain and France, are you absolutely sure about sustaining it in the long term, and have you counted the cost? Are there any tax implications (for instance, the French authorities have the right to tax any income you earn in France even if you're not resident there)? Did you know that some rentals are subject to French VAT? If you plan to settle in France, are you aware of the costs of belonging to the much-envied French health care system?
So if you want to make a success of your decision to purchase, it is worth reconnoitring the lie of the legal, financial and taxation land as much as the land you intend to purchase.
Location
The other question that has to be given careful consideration in the round and for the long term, is, of course, location. This is not just in the sense that we are used to in the UK - retention and/or growth in value of your property, local facilities, accessibility, etc - but also in a wider sense, for instance, in terms of what you hope to get out of living in France, the kind of climate that suits you, the proximity of fellow Brits and, last but not least, what you can afford. Despite upward pressures, property prices in France remain generally lower and in some cases dramatically lower than those in the UK. Demand is, of course, the usual determinant and that will depend to a great extent on what's flavour of the month.
France consists of nearly 100 departements (equivalent to UK counties), which in turn are grouped into official regions, eg Nord-Pas-de-Calais, Auvergne and Provence. Some of the regions have been long-time favourites of the Brits, eg Normandy and Brittany in the north and the Dordogne towards the southwest. Then there are more concentrated favourite areas, sometimes known as hotspots, within a favourite region or department and as the attractions of France continue to grow in appeal for the Brits, so the favourites list evolves, not least as prices rise and people try to look for what they hope will become a future hotspot. Apart from being as fully informed as possible - by seeking expert, experienced advice, reading up and visiting - the golden rule is to make sure you know what you want and why and how much you're prepared to spend on obtaining it.
Find a Property in France is not responsible for the accuracy or otherwise of the information in this article. Anybody intending to buy a property in France should seek the appropriate professional advice.
A Beginner's Dictionary
freehold: en propriete libre
mortgage: hypotheque/pret immobilier
repayment mortgage: pret immobilier sans capital differe
fixed rate: a taux fixe
variable rate: a taux variable
deposit: premier versement comptant
for sale: a vendre
estate agent: agent immobilier
public notary (equivalent of solicitor): notaire
VAT: TVA
inclusive of VAT: TVA comprise
land registry: conservation des hypotheques
valuer: expert immobilier
survey/valuation: expertise
structural survey: evaluation structurale
sand surveyor: geometre
to buy: acheter
to rent: louer
to sell: vendre
to let: louer
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