Purchasing a home in France is a dream for many people, whether it’s for a luxurious getaway, a potential retirement location, or just a change of scenery. In France, everyone has the chance to find their niche because there are so many unique cities to choose from, as well as vast stretches of gorgeous countryside. So, what should you think about before moving to France and purchasing a home?
Before buying a house
Whether you prefer the chaos of Paris or the serenity found among the lavender fields of the south, France can be a very romantic place to live. However, you must be certain that France is the right country for you before you start the home-buying process. Before you begin your serious property search, it is a good idea to rent there for a few months or even a year.
People frequently fall in love with a more run-down or rural property in France; there are many wonderful tales of French farmhouses being transformed into luxurious residences. However, if you lack experience, you shouldn’t rush into a major renovation project. To determine whether any maintenance is necessary on your property, it is frequently preferable to check over a few newer locations and obtain a professional assessment. Homebuyers’ surveys are uncommon, but you may frequently find English-speaking surveyors working in France if you search online or contact your real estate agent for a recommendation.
Where to look
Open-door France. Current market conditions suggest there are many good places to buy a home in France. With 2018’s market upturn, Paris stays attractive. The 4th, 6th, and 7th arrondissements have lovely sandstone facades and classical balconies. The 16th arrondissement, across the Seine from the Eiffel Tower, is popular for its larger, quieter homes.
Rennes, Bordeaux, Montpellier, and Lyon are popular outside Paris. Bordeaux and Provence offer tranquil, vast countryside.
If you like sunny, luxury vacations, choose the Côte d’Azur. Your preferences determine the options. If you want a vibrant experience, visit Nice, the French Riviera’s capital. The Croisette in Cannes, the venue of the global film festival, will amaze you. Saint-Jean-Cap-Ferrat and Saint-Tropez are home to some of the world’s wealthiest people, who enjoy an exquisite yet carefree “à la française” way of life while taking in spectacular bay vistas.
Taxes and fees
Even non-resident foreign investors including Indian citizens are not subject to any limitations when purchasing a home in France. Investors only require a French bank account and a government-issued ID.
Along with your deposit, you should budget for notaire’s fees. These are regulated by the government and are based on the property’s tax bracket; however, the total of the fees cannot be greater than 10% of the property’s worth. Properties older than five years are also subject to a 5.8% stamp duty fee, whereas younger homes are charged 0.7% + VAT. Check your initial contract and pricing, nevertheless, as some properties are occasionally sold with all taxes included, or as toutes tax comprises (TTC). Once you own a residential property in France, you’ll also pay pro-rata land tax and local taxes, taxe d’habitation.
