How to Buy a House in France

December 8, 2015

We get it. Buying a house, whether down the road or “across the pond” can be stressful. You might feel like you don’t even know where to begin. To ease your worries, we put together a simply step-by-step process make buying a home in France fun rather than overwhelming!

Step 1: Know the Conversion Rates

While rates change every day depending on the strength of the currency, you want to make sure you know how that $ converts to €. Presently, the exchange rate is $1. to €.91; however, be sure to do a quick Google search of the conversion rate before you have your heart set on a property.

Step 2: Make Sure You Understand What’s Being Said

It sounds simple; however, your high school French class might not be all that helpful when trying to negotiate or make an offer in French. You ought to consider hiring a trusted translator to ensure parties are in mutual agreement. The same goes for written offers and notaries as well.

Step 3: Know the Interest Rates

Mortgages in France are comparatively cheap, so you might want to do some investigating and consider buying with a French mortgage to save some money.

Step 4: Establish a Deposit

A 10% deposit is not obligatory in France, so discuss this and see if you would be able to put down a smaller deposit.

Step 5: Know How to Protect the Interests of Each Party

If you are an unmarried couple it is imperative you buy on a joint basis in order to protect the interests of each party. If you are married then if you wish your surviving spouse to inherit all of your estate, you should adopt a French marriage contract or buy en tontine. If you are not married, or you are buying as an unrelated group of people, then you should consider buying through a property company, called a Société Civile Immobilière (SCI). (Courtesy of FrenchProperty.com)

Step 6: Check Property

Just like in domestic home buying, you ought to visit the house the day before you close to make sure all the fixtures and fittings have remained on the property.