your mail box you don't even ... central business district and La Defense. A key hub in Europe, ... counties)- symbolize
Is this ebook for you ? Are you an expat Mom desperately seeking your ideal family home in Paris ?
How can you find your dream family home in Paris without spending your days going through online ads or waiting for estate agents to call you back ?
Where to begin ?
Oh la la ! Tweet this ebook !
2
Are you experiencing one of these symptoms ? Overwhelmed
Impulsive ! you’re ready to make a rash decision like sacrificing your children’s education and security because all other criteria fit…
by an overflow of ad alerts in Losing Control your mail box of your agenda you don’t even that has a life of have time to its own…and no open… more lunch breaks or WE for you !
Having Second Thoughts…
Desperate !
on the « gem » you found whose charm seems to wear off…
after you’ve missed an apartment which was perfect because you were just not reactive enough…
Tweet this ebook !
3
Build
this ebook will help you
your project To a family
success
ü Get an overview of the Paris real estate market ü Feel comfortable and confident in your property purchasing adventure
ü Get tips and how-to’s to find your home sweet home
Let’s get started ! Tweet this ebook !
4
Who am I ? Home finder & Paris relocation Expert for Expats « La vie en rose in Paris for Expat families » www.happyplaceparis.com To me, family is a top priority So after a 15-year experience in a Marketing job that left little time for my family life, I got training and started my own company in what I am passionate about: home and family in Paris.
Former expat,
Camelia PIERRE
[email protected]
In cities such as Algiers, London, Washington DC, New York, I know the expectations you have in your future home and what it feels like to have to adapt to a new environment and culture. I’ve been there !
Today, I take great pleasure as a licensed professional, in helping expat families find their future home and discover the family friendly neighborhoods where they’ll fully enjoy the Paris Art de vivre.
Tweet this ebook !
5
What’s in store ? 3 steps to find your ideal family property in Paris
Introduction
7
Know your Paris real estate market
9
Build your project
14
Master the buying process
20
Tips and how to’s
23
Tweet this ebook !
6
Introduction
7
Paris is… A key hub in Europe, positioned at the crossroads between northern and southern Europe
Part of the 8 counties of Ile de France: Paris (20 districts), the Petite Couronne (the 92,93,94 counties or « départements ») and the Grande Couronne (the 77,78,91,95 counties)- symbolized by an eight spiked star
18% of the French population representing 12 million inhabitants
A city with a widely canvassed transportation system which is to be extended in the Grand Paris Plan
Particularly appreciated by senior executives for its chic lifestyle in the western crescent (Paris western districts and suburbs), close to Paris central business district and La Defense.
Tweet this ebook !
8
1.
Overview of the Paris real estate market
9
3 questions for a slice of paris
What is the Paris real estate market evolution ?
Is it the right time to buy in Paris ?
How much does a home in Paris cost ?
Tweet this ebook !
10
Paris real estate market evolution Prices
Volumes
Pe*te Couronne Houses + 11%
Paris
+ 3%
Pe*te Couronne Apartments + 13%
Notaires Paris Ile de France Statistics Petite Couronne : 92,93,94 counties
After a slow decline of prices since 2012, the beginning of 2016 marks a reverse upward trend in Paris and extends gradually. The strongest increases appear where prices are already the highest.
Prices for older apartments in Paris increased by 4,4% in 4th quarter 2016 compared to 2015 reaching 8 340€/m2. Prices for older apartments in Ile de France increased by 3,5% in 4th quarter 2016 compared to 2015 reaching 5 430 €/m2.
In Ile de France, 2016 is the best year in terms of sales volumes since the 2008 crisis with an increase of 8% of sales compared to 2015.
All counties of the Petite Couronne benefited from boosted transaction volumes in 2016 which exceeded those of the 1999-2007 active years. However, high prices and low offer limit the recovery of real estate activity in Paris.
2017 Outlook +5,6%
Expected annual price increase in Paris over one year (older apartments) 8500 €/m2 = price expected by April 2017 in Paris
+2,3%
Expected annual price increase in the Petite Couronne over one year Expected annual price increase in the Grande Couronne over one year
+1,6%
5470€/m2 = price expected by April 2017 in Ile de France (older apartments)
Tweet this ebook !
11
Right timing for homebuyers ? Easier access to Property ownership The residential property market confirmed its recovery early 2016 all through the year in older as well as in new apartments .
The dynamic market is driven by •
Low interest rates for mortgage payments (rising slowly)
• •
Success of the Pinel scheme for investors in new apartments Success of interest free loans
+ 29% property purchasing power
in France in 8 years (between 2008 and 2016)
They already made the plunge •
Firs-time homebuyers : represent 40% of transactions in 2016 (36% in 2015)
•
Second-timers and investors : represent 42% of transactions in 2016. Even with capped rents, investors progressed by 8% in Paris in 2016 compared to 2015.
Tweet this ebook !
12
How much does paris cost ? Property price range in the Paris area
Prices will vary according to the size, the standard and the location of the residence. Here’s a snapshot of what you can find.
Of course, the further you are from the prestigious Paris districts (eg. 8ème, 7ème…) the less expensive the sqm is. So, looking at the Paris chic western suburbs can be an interesting alternative.
Over 13,000€/ sqm High standard residence in very good condition and perfect location
10,000€/ sqm Middle range quality family apartments in prestigious neighborhoods
Tweet this ebook !
13
8000€/ sqm Middle range apartments with drawbacks
2.
Building your project
14
What’s your objective ? Because you’re not just buying a baguette, you need to get your ideas straight. What are you buying ? • • •
Buying your main residence Buying to rent Buying a “pied-à-terre”
Your criteria and emotional commitment will not be the same if you are buying your future home to live in or if you are making an investment
Be clear on your project Tweet this ebook !
15
Check your financing To know if your project is realistic and just how much you can stretch that envelope, you have to do your homework first ! Do it before the search to get a clear picture of your budget.
Who’s buying ? Alone or as a couple (if married, under what marital regime or unmarried ) as it will effect your financing and ownership split List all your assets and outgoings to avoid bad surprises Meet with a bank to get a pre approved loan (remember you can’t borrow more than 30% of your revenues) Meet with a legal or tax adviser to know how this purchase will affect you according to your personal situation
Tweet this ebook !
16
What’s your ideal home like ? We all have a particular idea about the perfect home. Try working on your criteria to narrow it down.
• Type of residence : apartment or house Houses are rare in Paris and thus more expensive. However, you can find many town houses in the close suburbs.
• Style of residence : modern or Parisian classic They both have perks and drawbacks Modern : often more adapted to our present lifestyle with more open space and practical features included (elevator, parking space, outside space…) Classic : the charm is undeniable but sometimes calls for renovation work
Tweet this ebook !
17
…And neighborhood ? What’s most important for you ? To live
• Near your children’s school: many non French speaking schools exist in the Paris area (international, monolingual…) • Near cultural and sports activities • Near your workplace • Near parks • Near shops and restaurants • Near public transports
Map of Paris and Petite Couronne
Tweet this ebook !
18
Get out there !
Now it’s time to move from dream to reality…
The reality of the market Start searching to get an idea of what type of residences you can find by looking at some online ads or in real estate agencies and visit them. You’ll see how much your criteria weigh in the selling price and will be able to better determine what’s essential for you.
Tweet this ebook !
19
3.
Master the buying process
20
The actors of your project The seller: The property owner you’ll be in contact with (directly or indirectly if there is a real estate agent or home hunter) The notary: Public official who is able to advise on property law. He ensures that the deed is legally safe by analyzing the documents addressed by the seller and the buyer (yourself)
The estate agent* (agent immobilier) : His services are dedicated to the vendor whose property he’s appointed to sell The architect : He examines a property to give you an estimation of renovation costs. The home hunter*(chasseur immobilier) : His services are dedicated to the buyer (you) who appoints him to search for a property within a price bracket and personal requirements. He is in contact with the real estate agents or property owner and the notary on your behalf.
The mortgage broker: He works with various French banks and acts as the buyers intermediary with the lender.
The home hunter
The architect
The seller
YOU
The mortgage broker
The notary
The estate agent *The Agent Immobilier and Chasseur Immobilier are both regulated professions. They have a a professional card , “Carte Professionnelle” (issued by the Préfecture) which is a licence to carry out property transactions (carte professionnelle de transaction sur immeubles et fonds de commerce). They also subscribe to a professional insurance to protect their clients.
Tweet this ebook !
21
7 steps to home sweet home Home Purchasing Timeline Searching
Reading ads, Selecting, Visiting
Making an offer Negotiating D End of the revocation right
D+10
D+45
Possibility of signing the deed of sale
Signing of the pre contract
Providing proof of loan approval
D+70 Pre-contract = Compromis de vente The deed of sale = l’acte authentique
Tweet this ebook !
22
Tips and How To’s
23
1. Have your financing sorted out Evaluate your loan capacity + notary fees + plan to pay a 10% deposit (of the sale price) for on signing the pre-contract + budget for renovation work if needed
2. Explore neighborhoods To get a feel of everyday lifestyle (you may get good surprises !)
3. Start your search online Ads on www.seloger.com (from estate agents) and www.pap.fr (from homeowners)
4. Visit, Visit, Visit ! to know what’s out there and second visit with your check list.
5. Buying from a homeowner doesn’t mean it’s cheaper… Compare prices as homeowner often over evaluated their residence.
6. Don’t pay anything before signing the pre-contract ! Never pay the seller directly. You must deal with the notary or a professional the real estate agent.
7. Check if the real estate/home hunter professional is licenced Ask for the estate agent or home hunter’s transaction card.
Tweet this ebook !
24
In a nutshell Objective
Market value
Study your market prices to get an idea of how much your ideal home costs
Clarify the use of your future property (main residence, investment, pied à terre)
Budget
Do your homework to avoid bad surprises
Location
Cross criteria with budget and keep an open mind
Tweet this ebook !
25
Needs
Prioritize your criteria. Remember : more criteria = more € + less home finds
Time
Be reactive ! Estates at market value are sold very quickly so be ready to make a quick decision.
Congratulations !!!
You have all you need to start your project
Do you want to take your home buying project to the next level ? Click here to claim your free session. Only 4 per month !
After this 30 minutes session, you’ll leave with a 3 steps plan to get your project on track
And most of all a new perspective on your home finding project and the booster effect you need !
Social Aquicons by Lanan Illustration are licenced under CC By 2.5
26
If you liked this ebook, share it !
Share with Facebook
Share with Twitter
27
For more free tips, news and updates Follow me !
Follow me on Facebook
Follow me on Twitter
Follow me on LinkedIn
28
