Buying a home is a big investment. France is a great place for all kinds of properties. It can offer a wide array for retirees, families or professionals. It has many great locations as well as marvelous scenic beauty and a healthy living environment that has been attracting people from all over the world- as far as Australia and of course, from the UK and other countries in EU.
Right now there are no restrictions on foreigners to buy property in France but different rules apply to EU and Non-EU citizens. However, it is a huge investment and one needs to either navigate through a complex labyrinth of legal portals or find a consultant who can guide them. Here is our take on the process of buying property in France as Non–residents. This way you can save some money and avoid the usual pitfalls.
Prices may be comparable to other European countries to a certain extent as there is a huge number of properties available. However, the locals may be charged a different price and the Foreign buyers may be asked to shell out more money for the same house. Many locals especially the younger families are not able to afford a house in the urban areas. Increased prices have forced many Locals to stay in rented houses and yet buyers from various countries have shown increased interest.
Consider the different areas in France, before choosing the ideal place for your Investment. Whether you want to live closer to a city or the vineyards or near a beach? Once you know the ideal locale then it will help you decide on the perfect place. The Residency rules are different though and a foreigner may have to follow the period of stay rules according to his visa. You can buy a house and stay there only for 90 days at a stretch. This may complicate life for many people coming from other countries. These legal matters are very clear and distinct for European and non-EU residents. Another interesting fact is that each city and town and even the small villages have mayors. It is really essential that expats buying a property in small villages meet the Mayor and introduce themselves. They will also be helped by the locals in many matters including learning about the property and taxes etc. and the local culture.
It is important to learn about the Legal matters before you invest as we all know that the money invested in a house is not a small amount. Even their legal system is very different and people get confused due to the use of terms like notary and solicitor. Advice from a professional is really critical in matters of buying and executing the deed. There are different charges and property tax also needs to be paid when you acquire a property in France. The tax goes to the government while the agent will charge the commission for executing the completion of the sale.
The process may be complex but if you have the right guidance and the right approach then this could be the best investment that will help you to live in a place well-known for its clean and pollution free environment.