The guide to buying prestigious property in France

Purchasing a luxurious home in France is long-term commitment that needs to be prepared in advance.

The first step is finding and having a finance plan, this is an important prerequisite to purchasing a prestigious home.

Firstly, you need to define a budget allocated to the project. For this, you need to be informed about the prestigious real estate market at the present time.

Secondly, identify if this project is for an investment purpose or for personal use.

Ask yourself : is this project is going to be financed with a personal contribution ? The personal contribution is the amount that you can invest into the purchase of property.

According to the Bank, the personal contribution should represent between 10% and 20% minimum of the total amount of the purchase price. Also, be aware that the more personal contribution you have, the more the bank rates will be beneficial.

The current loan rates are historically low. Will you need a loan? Check your debt capacity. The monthly installments, all loans confounded, should not exceed one third of your income.

Do not hesitate to ask advice from your banker to find the perfect solution for your project.

The second step consists of defining your criteria.

This is a key step to buying property. Write down the list of requirements you would like to find in the property.

i.e.: proximity of schools and public transport, prime location or perfect district… Nothing can be forgotten.

And finally, the use of an expert in luxury real estate: it is possible to find a property on your own, but it is highly recommended to use a real estate agency that is specialised in prestigious real estate to benefit from professional advice. The real estate agent, who has knowledge of the area and the property market, will facilitate your search and will propose properties to you that fit perfectly into your criteria.