Top Tips for Those Buying Property in France
Published on Friday, October 09th, 2009
We’re going to dispel a few French property myths and right a few French property wrongs in this report because we’ve had a string of emails asking us questions directly related to buying a home across the Channel and have deduced that there is a lot of confusion out there!
Despite the strong euro, a weak property market in France is now appealing to Britons because it is still possible to secure a bargain second home if you shop savvy – and so this must be why there is currently a lot of interest in buying homes across all French regions and why there are a lot of questions flowing in to our inbox from those buying in France. (Either that or we’re suddenly ranking higher on Google for relevant ‘property in France’ type searches!)
So today we’re going to cover four areas that we have been asked about – namely getting a bank account in France if you want to buy a home there, sorting out your home insurance, working out if an equity release mortgage is possible in France and getting a home improvement loan…
Expats are an interesting yet unusual breed by and large – with people from very different backgrounds absolutely no more or less likely to want to move to live abroad and get away from the UK. It seems that anyone and everyone has reasons to move overseas and issues to prevent them remaining in Britain, but the one thing that does differentiate between groups of expats is that some research their move and some don’t.
France has long been one of the most popular countries with British retirees who are going in search of sunshine in retirement as well as a laid back and healthy lifestyle. What’s more, it’s a popular haunt with those who want a holiday home abroad and has been considered an excellent place for investment property seekers too…
There has been a 7% decline in the numbers of us taking holidays abroad according to the Office for National Statistics, and those of us who are venturing abroad are doing so for fewer days. The opinion of many in the tourism industry is that 2009 will be a particularly tricky year for the European tourism market too, as Britons are reluctant to venture into the eurozone where their pound buys them so much less nowadays.
Christmas 2008 in one of France’s most popular ski resorts, namely Chamonix, was surprisingly quiet - Britons were conspicuous by their absence thanks to the weak pound, and even the French were staying away and saving their euros.
Paris is possibly the most attractive city in the world for would-be expatriates to live in – it has something for everyone, it is historic, beautiful, culturally rich, it’s chic, sophisticated, romantic and quite simply a dream location for many. Professional expats are particularly attracted to the thought of one day living and working in Paris – if only for a few months or years – and it is even a city favoured by international families because the standard of living and quality of life are so high.
We’ve touched on the concept of Euro-commuting at Shelter Offshore before. It’s a concept that has become more appealing since the new Eurostar terminal opened at St. Pancras International, and it is now possible to travel to and from France and land up right in the heart of central London with minimum fuss and maximum comfort.
The appeal of the French natural landscape, the cuisine and fantastically laidback lifestyle has been luring Britons across the Channel for years. France is still one of the most visited nations by us Brits, and what’s more it’s a country that so many of us love with a lasting passion that we actually want to make a more permanent home there.
