Home 9 Realtor Tips 9 Buy a home: Preparing for your research

Buy a home: Preparing for your research

To prepare a real estate purchase is first to take the time to ask yourself some essential questions. Starting with: what will I do with my property? Is this an accommodation you want to keep, for example to spend your retirement, or to expand your wealth, for example by renting it?

Gradually, a specific idea of the housing you want to acquire will emerge, with a geographical area, a living space and the desired options (garden, full foot, swimming pool, guest room, proximity to shops or public transportation …). This will allow you to narrow down your searches, and thus save your efforts.

You will then have to consult your finances, with regard to the prices practiced on the market … With your bank, you will have to define your capacity of loan, and also especially your capacities of future repayment, so that this purchase does not alter your quality of life.

It is estimated at 33% the maximum share that is reasonable to have in debt in relation to its income. It is therefore necessary to take stock of the credits already in progress that your budget must bear. A zero-interest loan (possibly corroborated by an “APL”, personalized housing assistance), or a social housing loan can help the first acquisitions, provided they meet the conditions. A home savings account or plan can be activated if it has been in possession for at least four years. A loan agreement is granted without conditions of resources but on the condition of living in the housing for one year after the purchase.

Finally, it will be necessary to take out insurance for the loan (not necessarily that of the bank that gives you credit). Its cost will be added to that of the repayment of the loan. And finally, do not forget in these calculations the notary fees, which amount to about 3% of the purchase price in the new but about 7.5% of the purchase price in the old.

At this stage, you will have a precise vision of the extent of possibilities. All you have to do is find the rare pearl!

Related Posts
Finding a place to live for students abroad
I have been living in Greece for my studies

Today, I decided to share with you a testimony of a young student, Amy, who decided to live in Greece Read more

A Guide to luxury real estate on the French Riviera !

Today, I decided to talk to you about renting or purchasing luxurious real-estate… When looking for luxury property, many people Read more

Help, I have to leave the family nest : help me find an apartment !
Students, choose the good accomodation : individual apartment, dormitory or flatshare

Just passed you’re a degree and have to leave for uni? Panic on board! Face it, we are quite happy Read more

10 tips for finding the perfect rental in South of France
Finding a studio in Southern France can be a real struggle.

We have all gone through this stage at one time or another: leaving the family nest, embarking upon a new Read more