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France is a favourite place to own a property, whether for holiday hideaway or permanent home. It's easily accessible, the quality of life is good and the cost of living moderate, the roads are a joy to drive on and in most regions the weather is better than in the UK. How do you find a house to buy in France - and what should you know about the buying process? First, research the regions of France for local weather and character, accessibility, prices, countryside and architecture. Specialists like French Connections not only list properties for sale but also offer regional guides and expert practical and legal advice. A property fact finding mission is a good idea. Set aside a long weekend to explore your favoured region and view properties. Plan ahead to make appointments with estate agents, giving them time to prepare a list of suitable properties, and make sure an English speaker is available if you need one. Remember that in France, the buyer pays the estate agents' fees so buying direct from an owner could save you money. When you fall in love with a property, don't commit yourself on the spot, particularly if under pressure to sign a contract. Do obtain a structural survey and valuation report. A proper survey may even reveal problems that enable you to negotiate a reduction in price. A bilingual solicitor who specialises in the French property market can advise on contracts and French conveyancing law. They will also liaise with the French Notaire, an independent official who acts as an intermediary for both buyer and seller during a French property transaction. The purchase procedure is in two main stages. Once you choose a property and agree a price, you will likely be asked to sign a preliminary purchase contract and will have to pay a deposit, which is usually 10% of the purchase price. The contract is binding subject to various conditions and formalities. The second stage is signing an acte de vente (deed of sale), when ownership of the property is transferred to you and the full amount of the purchase price and Notaire's fees are paid. For new build properties, signature may take place in advance of completion, with a proportion of the price being paid. French lenders will generally allow you to borrow up to 80% of the purchase price - but do remember hidden costs like taxes. After you've become the proud owner of a property in France, there are ongoing expenses to consider- including income, wealth, property, capital gains and residential taxes. If you rent out your property in France, you will have to declare and pay income tax on the rental income, even if you live abroad.
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ABOUT AUTHOR: Glynis Shaw is www.frenchconnections.co.uk, the French property website for renting a holiday home, farm house, gite or villa in France, or to buy and sell property in France.
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