logo
Buying a French home as an expat: Tips, tricks, and traps to avoid

Buying a French home as an expat: Tips, tricks, and traps to avoid

Euronewsa day ago

Whether it's a Parisian attic or a countryside villa, owning a property in France is a dream shared by many Francophiles. As well as the lure of sun-baked terraces and world-famous food, expats are drawn in by the practical perks on offer, including affordable healthcare, strong social security benefits, and a good work-life balance.
Yes, the dream is a possibility — but there are some tips and tricks you should know before starting out. After speaking with a range of experts, Euronews Business has compiled an advice list, essential for foreigners buying in France.
When it comes to choosing a property, buyers will often pick homes located in areas they've visited on holiday, or perhaps they have friends nearby. While both of these factors can give you an idea of a location, experts stress that thorough research is key.
'Read, investigate, and don't be in a hurry unless you can afford to make mistakes,' Alex Balkin, executive director of Savills French Riviera and French Alps, told Euronews Business.
'Some places are gorgeous. There's a little well in the town centre, lavender sprouting out of it, there's a lovely little cat lounging lazily in the sunshine. Then you come back in November and it's dead as a doornail. Even the bakery is shut.'
As well as checking out the area's ambiance and accessibility during the winter, it can also be useful to contact the local town hall, or the mairie. Officials can then keep you up to date with what's happening in the vicinity — including potential development plans.
In order to get a better feel for a place, some expats may also prefer to rent before they buy.
While homeowners may sell through an estate agent, many properties are also available privately, said David Yeates, editor of France Insider, a specialist French property online journal.
Even so, it's important to avoid overpaying in these cases, he explained. 'The great risk is that many private sellers overvalue their property.'
Yeates added that there are difficulties valuing French houses, particularly in the countryside, 'because there are not always obvious comparisons and sales in rural areas'.
Doing online research can help, but you may also want to pay for one or two estate agents in the area to give you their expert opinion.
When a deal is struck between a buyer and a seller, it involves more than these two parties.
In France, all real estate transactions must pass through a notaire, a government-appointed lawyer who draws up and handles the contracts. Their fees are regulated by the state and are based on the value of the property.
As the notaire is a neutral party, working for both buyer and seller, many people choose to appoint just one. It can also be useful to have a notaire for both parties, although experts say this isn't essential.
'Notaires are impartial, they're not allowed to lie by omission, and their work is backed by the French state,' Alex Balkin told Euronews Business.
Some buyers may also want to hire a lawyer, separate to a notaire, to give extra, personalised advice on complex situations.
On this, Balkin said: 'It's not always very useful, especially if they don't know the workings in France. They will, in some cases, create a problem where there isn't one.'
David Yeates noted that hiring an extra lawyer can sometimes be advantageous, particularly 'if your family circumstances are complex or the transaction is substantial'.
A lawyer could, for example, give advice on inheritance rights, as 'there are different solutions that you can adopt from the outset to deal with the entrenched rights of children'.
Gazumping is a practice where a seller agrees to transfer a property to a prospective buyer and then revokes the deal at the last moment, instead giving it to a higher bidder.
Unlike in some countries, the French market protects the buyer against this practice, as a preliminary contract binds the parties to the sale.
After the two sides sign the 'compromis de vente', the seller is committed to the deal, while the buyer has a 'cooling off' period of 10 days to change their mind.
'This period is a really important thing to know about because it allows you, the buyer, to withdraw if you have a change of heart,' Jack Harris, Partner at Knight Frank International Residential Real Estate, told Euronews Business.
'It's worth examining and understanding the suspensive clauses or conditions that can be included within this preliminary contract…because you'll then understand your liabilities as a buyer,' he added.
It's also important to have a strong idea of the costs you'll incur when buying property, as well as being realistic about the potential returns.
While some locations are anomalies, France's property market tends to be more stable than in other countries, meaning you won't see massive drops or gains in value.
'There are still very good investment areas, particularly areas like Paris, but countryside properties, they stay pretty stable … so you're not going to make huge amounts,' Joanna Leggett, marketing director at Leggett Immobilier International, told Euronews. 'These purchases tend to be a lifestyle choice rather than an investment choice.'
Leggett added that a common mistake made by foreign buyers is underestimating the cost of renovation.
'These properties have a value ceiling and you may not get all of the renovation costs back,' she explained. 'Get estimates from local artisans before you go ahead and make an offer.'
David Yeates of France Insider echoed these warnings, stressing that buyers should overestimate their costs and underestimate their incomes.
'It's very good to have dreams, but those dreams need to be proportionate to your capacity to realise them,' he said.
A reminder: the information in this article does not constitute financial advice, always do your own research to ensure it's right for your specific circumstances. Also remember, we are a journalistic website and aim to provide the best guidance, tips and advice from experts. If you rely on the information on this page then you do so entirely at your own risk.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Uzbekistan and Hungary agreed to form an enhanced strategic partnership
Uzbekistan and Hungary agreed to form an enhanced strategic partnership

Euronews

time26 minutes ago

  • Euronews

Uzbekistan and Hungary agreed to form an enhanced strategic partnership

The US Senate has confirmed Charles Kushner, the father of President Donald Trump's son-in-law Jared Kushner, to serve as ambassador to France. The 70-year-old real estate developer, who received a presidential pardon from Trump in December 2020 over convictions for witness tampering and tax evasion, was confirmed by a 51-45 vote in the Senate on Monday. When Trump announced his desire to nominate Kushner in November, the US president called him "a tremendous business leader, philanthropist, and dealmaker." Kushner's son Jared is a former White House adviser who is married to Trump's eldest daughter, Ivanka. At his confirmation hearing on 1 May before the Senate Foreign Relations Committee, Kushner was asked about his criminal past. He was sentenced in 2005 to two years in prison after pleading guilty to 18 counts. "My misjudgement and mistake was over 20 years ago," Kushner told the hearing. "Since then, I've been pardoned by President Trump. But I don't sit here before you today and tell you I'm a perfect person. I am not a perfect person. I made a very very very serious mistake, and I paid a very heavy price for that mistake," he added. Former New Jersey governor and Republican presidential candidate Chris Christie — who brought the charges against Kushner when he was a US attorney in the early 2000s — said his case was "one of the most loathsome, disgusting crimes" he ever prosecuted. Kushner will go to France as the relationship between the two traditional allies, and between Washington and the rest of Europe, has been strained over Trump's trade policies and the US position on Russia's full-scale invasion of Ukraine. At his confirmation hearing, Kushner said he would work closely with France to "bring greater balance to our important economic relationship" and also encourage France to "invest more in its defence capabilities, as well as lead the EU to align with the US vision of increased European commitments to security." It is unclear how Kushner's appointment will be received in France. After Trump announced his nomination in November, Gérard Araud, a former French ambassador to the US, was among several people to express scepticism or criticism over the decision. "Needless to say, he has no knowledge of our country. At least he will have access to the president. We console ourselves as best we can," Araud wrote in a post on X. Senator Cory Booker, who represents Kushner's home state of New Jersey, was the lone Democrat to vote in favour on Monday. One Republican, Lisa Murkowski of Alaska, voted against it. Uzbekistan and Hungary have agreed to form an enhanced strategic partnership. The treaty was signed by Uzbek President Shavkat Mirziyoyev and Hungarian Prime Minister Viktor Orbán on Tuesday afternoon in Budapest. The two countries have also concluded agreements at ministerial level: an extradition treaty, a treaty on cooperation in disaster management and one on climate protection, and an agreement on Hungary's participation in the construction of nuclear power plants in Uzbekistan. The Central Asian country has sent a large delegation to Budapest, with the President, four ministers and several businessmen visiting the Hungarian capital. On Tuesday morning, members of the delegation held talks with Minister of National Economy Márton Nagy and Hungarian businessmen on cooperation opportunities. 'One of the very developed areas in Hungary is fishery, and we have a huge opportunity in Uzbekistan. In the past few years, we brought Hungarian companies and Hungarian genotypes of fish, but in this visit, we are developing with Hungarian companies a new program to establish more extensive and intensive projects" - the minister of agriculture of Uzbekistan, Ibrokhim Abdurakhmonov told Euronews. The Uzbek head of state, President Shavkat Mirziyoyev also held talks with the Hungarian speaker of the Parliament. At the meeting, László Kövér said that they would like to extend the strategic partnership to closer cooperation between the two parliaments. A group of 68 immigrants from Honduras and Colombia returned to their countries of origin on Monday from Texas as part of a new initiative by the Trump administration. The programme promotes the departure of people in an irregular migratory situation in what the Trump administration is calling "voluntary deportations." In early May, the US government offered a payment of $1,000 (€889) to undocumented migrants who made the choice to leave the country voluntarily. Homeland Security Secretary Kristi Noem confirmed on Monday that the first departure flight marks the beginning of the so-called "Project Homecoming" plan. According to Noem, the action is not part of the usual Immigration and Customs Enforcement (ICE) operations, but a voluntary and assisted process. In a post on his X account, Noem said, "If you are in this country illegally, deport yourself NOW and preserve your opportunity to potentially return the legal and correct way." "If you don't, you will be subject to fines, arrest, deportation and never be allowed to return," she added. Participants in the programme used a CBP Home application to formalise their departure and received the money promised to support their return. Upon arrival in both Honduras and Colombia, migrants were met with local assistance. The Hondurans were also included in the 'Hermano, Hermana, Vuelve a Casa' programme, which provides a $100 voucher (€89) for adults, including food aid and job orientation. Colombian returnees were assisted by the Colombian Institute for Family Welfare (ICBF) and the Department for Social Prosperity (DPS) — agencies in charge of facilitating social and economic reintegration. The programme is part of the new immigration policies promoted by Donald Trump since the start of his second term in office in January, with the aim of reducing irregular immigration in the country. His offer to allow migrants to depart voluntarily has been matched with highly-publicised detentions in the US and flying a couple hundred of Venezuelan migrants to a maximum security prison in El Salvador.

Second-hand clothing in France: Out with the new, in with the old
Second-hand clothing in France: Out with the new, in with the old

France 24

time2 hours ago

  • France 24

Second-hand clothing in France: Out with the new, in with the old

France 05:44 From the show As the French Senate examines an anti-fast fashion bill, we take a look at a more environmentally conscious way of shopping: buying used clothing. In France and elsewhere, the sector is booming as shoppers turn to second-hand shops and online sites to find previously worn bargains. We find out both the upsides, and the downsides, of this growing trend. A programme produced by Amanda Alexander, Marina Pajovic and Georgina Robertson.

Kering Eyewear acquires Italian lens manufacturer Lenti
Kering Eyewear acquires Italian lens manufacturer Lenti

Fashion Network

time3 hours ago

  • Fashion Network

Kering Eyewear acquires Italian lens manufacturer Lenti

Kering Eyewear continues to expand its operations to strengthen its supply chain. The eyewear division of French luxury group Kering has made its third acquisition in less than three months, purchasing Lombardy-based optical lens manufacturer Lenti from Italian group Safilo. The companies did not disclose the value of the transaction. Kering Eyewear describes the deal as 'a key milestone in its industrial development strategy,' providing the opportunity 'to add internal capabilities for the production of Italian-made sun lenses known for exceptional quality, technological innovation, and superior performance,' the company stated in a press release. Entrepreneur Marco Negri founded Lenti in 1996 in Brembate di Sopra, in the province of Bergamo, in partnership with the Safilo Group. The company employs around 100 people and has developed advanced technologies for graphic lenses. It specializes in molding and surface treatments that protect and enhance vision across various applications, including sunglass lenses, visors, lighting components, and protective elements used in the automotive and motorcycle industries. 'We have valued Lenti's products for many years and are proud to welcome the company to Kering Eyewear. It brings an additional area of expertise to our industrial platform of manufacturing capabilities, factories, and, most importantly, outstanding talent,' said Roberto Vedovotto, founder and CEO of Kering Eyewear. Since its creation in 2014, the eyewear division has focused on designing, developing, and selling eyewear, relying on a network of carefully selected production partners. However, the company's rapid growth in recent years—generating €1.6 billion in revenue in 2024—has led it to enhance control over its supply chain by acquiring some of its suppliers. In April, Kering Eyewear acquired Italian manufacturer Visard, which produces optical and sunglass frames using injected plastic, and took a minority stake in Italian company Mistral, known for its acetate frame designs, with the option to complete a full acquisition by 2030.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store