Buying guide - Pick of the crop in France
This autumn, there really is a bumper harvest of houses to choose from on the French market, so to try to alleviate the confusion, we have put together some handy hints on how to choose the area of France in which to buy, the type of property to buy and the way to buy it. Many people find a dream property on the internet and decide this is the one for them, without any understanding of what the location has to offer or whether this house will suit the altered lifestyle that owning a property in France entails.
In your search for a home in France, it is easy to forget that the area must suit you, even more than the house, as you cannot change this. It would seem us if we looked at property websites in the UK, found a house and decided we wanted to buy it without any regard to where it was located. We understand how our home country works and we know the areas that we would consider living in.
However, for those buying in France, this is usually not the case. Often they have an idea from holidays spent in France about a few locations but with such a huge country, there are so many possibilities that it is essential to research thoroughly to ensure you are looking in the right area before you identify the right property.
Sorting out your criteria
Before you do anything, you need to ask yourself why you are buying a property in France. The kind of questions to ask are:
• What kind of lifestyle are you hoping to achieve through owning a property in France?
• Are you intending to let the property out to offset some of the costs?
• How important are the key criteria of climate, accessibility and budget?
• How important is the size of the property? Do you really need spare space for guests or could they stay in a local B&B?
• What must the property have, what shouldn’t it have and where could you compromise?
Information-gathering
There is certainly a lot of research to do before you head over to France to look at properties. Once you have a clear idea of what you are looking for in terms of property, you will need to decide which areas of France can match your property requirements, budget and desired lifestyle. There is plenty of information – almost too much – on the web. But beware, not all of it is 100% accurate. However, by careful selection and by using trusted sources, such as the FPN website, you can certainly glean some useful information.
In your info-gathering exercise, you are really looking to ensure that the right kind of properties exist in the right budget in the area that seems right for your needs. Having decided on the area and type of property, there are a few other things to consider before you start to make your travel plans. Be patient, all this research will pay dividends in the end.
Financing the project
You need to know how you are going to finance the purchase before you start to look at houses. French agents will rarely be tempted to give their time to you unless you are certain of your financial arrangements and you will need this information before you can sign the first contract to secure the property. Be careful when looking at finance, the lowest interest rate may not be the best deal. Speak to specialised brokers, who can truly understand your financial requirements and your future plans so that the mortgage you get now will also suit you in the longer term.
Legal assistance
You may decide that a notaire, who represents both parties to the sale, is perfectly sufficient. However, remember that the French legal system is different from the UK. Unless you are bilingual and conversant with the legal process, it is wise to seek independent legal help to ensure your purchase proceeds safely and smoothly. You need to know who you will use before you agree to a purchase, so they can work with you and the agent from the start. Buying a property anywhere is a complicated process that can be full of pitfalls. It is so much better to play safe at this stage by using experts to assist you.
Buying currency
It’s hard to know what to do for the best with currency but, at the moment, it would seem safer to forward-buy it either before or as soon as you have agreed to the purchase. This way, you are certain that the sterling equivalent of what you agree to buy will remain the same whatever happens to the exchange rate. You might lose out if things improve, but by forward-buying you are assured that, if you could afford the property on the day you agree to buy it, you will be able to afford it by completion day.
Let the adventure begin
Having done all the hard work, you can now start to really enjoy things. It is important to set up a viewing itinerary before you head off to France. You are unlikely to receive much of a welcome if you just turn up in a French agent’s office and, even if you do, it really is likely to be a game of Russian roulette as to whether you are shown appropriate properties. When time is money, it is essential to get plan everything in advance.
At this stage, it may be easiest to work with one company who can fix up appointments wherever you want to look. If you are focused on one area only, then plan to spend two or three days with an agent in that area, but don’t limit yourself to too small a radius in your chosen area. Too much choice can be confusing, but you still need a large enough selection.
When arranging your viewing itinerary, don’t focus on particular houses if you can avoid it. There is a good chance that any particular house might be sold by the time you arrive and also that the agent might have something even better to show you when you turn up. It is best to give a whole day of your time to one agent, so they can really understand your needs and use their skill to select suitable properties.
Allow yourself time off. In your enthusiasm to see everything possible, it is all too easy to get tired, exhausted, lost and confused. You also need to plan down-time, to ensure you have allowed enough flexibility for a second viewing if you hit upon the right house.
Don’t be greedy
Don’t be tempted to keep searching once you have found a property that feels right. Good houses sell quickly and if you like one, there is a good chance that tomorrow’s client will like it too – and you may lose it.
On the other hand, remember your requirements and stick to them; don’t get talked into buying something that does not suit your needs. Remember the list you made at the start of your search. It is alright to deviate from your initial requirements if you see something really tempting, but it is important to recognise that you have changed your mind and not to just rush into buying something without considering all those things that were so important to you when you started the hunt.
Now, armed with all your research, having thought the whole project through carefully a hundred times or more, go ahead and enjoy the adventure of finding your dream property among this autumn’s harvest. But don’t forget, often you have to create the dream.
Many people search forever for something that ‘hits them’ and many never find it. Getting the right house is all about sticking to your guns on the important things – the property and area – and having the vision to see how to transform the ‘nearly right’ property into your dream home.
Cherise Williams, Venturus, Tel: 020 7517 0585