Buying French property? Beware of false images...

Like all product advertising, vendors and agents can use a number of visual tricks to enhance the look of a property for sale, including clever photography and hiding or masking defects.

Despite the procedures shown on French TV programmes such as "Cherche appartement ou maison' (Channel 6) in which would-be buyers join the agent on site for a series of visits, in real life more time is - or should be - spent in the agent's office discussing the clients' needs in detail, and as a preminary going through the agent's catalogue of available properties to have a general idea of what appeals to the client - or not.

French agents tend to cover a wider area, in my own experience it was quite a large chunk of Pyrénées Orietales and as a result often difficult to visit more than three or four properties during a morning or afteroon. Not just because of the distances to be covered but the admin required to contact owners, pick up keys from a branch office or keyholder, and arrange appointments.

As a result the preliminary meeting in the agent's office is important, to discuss the client's aspirations, budget, likes and dislikes, and view selected properties in the agent's catalogue. Many agency photographs are notoriously bad and frequently the subject of criticism. They rarely show an exterior due to the fact that several agencies may be handling the property for vendors who have signed an a non-exclusive multiple agreement. Very few are the work of professionals.

Using a professional photographer however has its good and bad sides. Photographs can be used to enhance the look of an average property - using more or softer lighting,  or taking shots from high up or low down to enhance the size of a room,  and at worse hiding or disguising defects.

Typical of these are proximity to a main road or railway line, surrounding buildings such as a factory, school or supermarket, or undesirable objects such as overhead electric cables and high voltage pylons. Frequently clients will arrive on site and are already rejecting the property before going through the front door.

Also anoying for potential buyers is the lack of a floor plan, which the vendor should be able to supply as it would normally have been included as part of his/her sales contract. This helps to visualise the proerty as a whole, see how alterations might enhance its potential, and offers an accurate scale plan showing actuall dimensions.

Curiously these small practical details are neglected by some vendors and agents, and sales are lost despite the property being within the buyer's budget. The programme noted above includes some interesting examples. not forgetting it is primarily designed for popular  viewing and includes much pratical advice from the presenter Stéphane Plaza.

Poster by peterderouffignac@orange.fr

Selling your French home? Targeting your potential buyer.........

Marketing is very much about tailoing your product or service to a specific group of potential buyers which you have identified from research. And depending on whether you own a one-room apartment or a three-bed house there is someone out there looking for exactly what you are trying to sell.

Recent research from America - and it can easily be applied to France - has identified five specific groups of buyers and what it is they are looking for and why. According to the figures:

- 30% of buyers are looking for a larger home as a result of an increase in family size (arrival of a second or third child for example)

- 27% are looking for their first 'real home' as a result of marriage or deciding to live together

- 24% as a result of a change in family circumstances, such as children leaving home or a change of job

- 39% of 55-65 year olds are looking ahead to retirement

- 28% of over 65s have reached retirement and are looking to downsize or move to a more relaxed area (such as the huge north/south shift in France as the post-war generation comes up to retirement and have a property to sell whose value has risen due to house price inflation.

Whether you are trying to sell your apartment or house to a buyer from virtually any of these groups, the most important criteria have been identified as:

- most typical purchase is a three-bedroom, two bathroom property

- 86% rate the kitchen as the most important deciding factor

- 50% are looking for a master bedroom or parental suite with its own bathroom etc.

- the principal living space tends to include an open-plan kitchen, dining area and lounge area

- quality of outside space, such as a terrace, garden, pool etc


With acknowledgements to realtor.com USA.

Posted by peterderouffignac@orange.fr

Do I need a translator when signing French property documents?

Buying a home in France is relatively complicated and involves reading and signing several important documents (in French). They include the following:

- Offer to buy. This is your first important document that you will normally sign after visiting a property and making a formal offer to buy at or below the asking price. If the vendor agrees, he or she will countersign his/her acceptance.

- The initial contract (compromis de vente) which may include a number of conditions that must be fulfilled before it become binding - such as 'subject to survey' , 'subject to securing planning permission' etc. If these conditions are not fulfilled, the buyer may pull out and the transaction lapses, leaving the vendor with the task of securing another buyer.

- The final act which is the final sale document, based on the initial pre-contract and becomes the equivalent of the title deeds to the property (titre de propriété) and lodged with the French land registry. Copies are normally also held by the owners and Notaire who handled the transaction.

- The preliminary and final contracts will invariably include a number of supporting documents, from technical surveys to information about possible flooding etc.

- If you are buying an apartment in a shared building, recent legislation requires full reports of any works done or anticipated, details of the co-ownership management, and the scale of charges payable monthly to cover the cost of shared extras such as central heating or a lift.

The above documents may run to over a hundred pages and at first sight appear quite daunting, particularly if you have little or no knowledge of French and you are buying in France for the first time. However it should be borne in mind that most are totally standard and have been tried and tested over the years,  While many 'extras' such as a report on the risk - or not - of flooding are based on publicly available at the local mairie (town hall).

The Notaire handling the transaction will want to ensure that you understand what you are signing and in some case insist on an interpreter/translator being present for the signing, depending also on the Notaire's own proficiency or not in English.

In my view a complete translation is not necessary (and is costly) as legal language in either English or French is frequently unintelligible if you have no kowledge of law. A legally trained interpreter is often the best solution, as he or she can explain the document as the meeting proceeds - bearing in mind that the final act is very similar to the compromis de vente that you sign many weeks ago when you committed to buying the property (subject to any suspensive clauses that you may have insisted on at the time).

Another possible solution, which I normally propose,  is ask a bilingual (English/French) legal expert to review the contract(s) in draft and advise whether to sign them or not, or advise on changes. If they are based close to where you are buying they can also be present at the final signature.

And finally do not forget that the estate agent through whom you are buying the property has also overseen many similar transactions perhaps over many years 'on the job' as a negotiator and guide. His/her experience can be invaluable.

Posted by peterderouffignac@orange.fr 

Furnished properties sell faster....

As any estate agent will tell you, when home hunting  potential buyers are more likely to be attracted by houses or apartments that are presented furnished rather those which have been stripped of their contents as the previous owners/sellers have already moved out. This is of course the reason why speculative housing developers invariably feature a 'show house' to give buyers an idea of what the property could like for potential purchasers.

Totally empty properties are difficult to visualise and viewers are often unable to imagine what their furniture would look like occupying the huge empty spaces around - though in fact some rooms may look smaller when empty than they actually are. Empty spaces tend to show off any minor defects - tired decor, worn or damaged floors, loose electrical fittings - that should have been put right by the previous owners before putting the property on the market.

There are a number of possible solutions if you find yourself having to sell your property in its empty state, among them the tried and tested 'home staging'. Proponents of this alternative include France's best known estate agent Stephen Plaza who in addition to owning a network of estate agencies is the star of several TV programmes such as 'Chasseurs de'appartement' (apartment hunters) and 'Maison à vendre' (house for sale) both on Channel 6. Plaza works with a number of designers and contractors who, in the worst cases, transform typical over-crowded, over-furnished pre- and post-war houses owned by our parents and grand-parents, and turns them into their light and airy modern equivalent. Typical budgets for a major transformation are often around 2 to 3 per cent of the asking price, and almost invariably result in a number of offers and a sale - including many which have languished on the market for weeks or months.  

If your home is empty but otherwise in good repair, you could employ a designer specialising in home staging who can furnish all or some of the rooms with furniture and acccessories for the occasion - say, the living room and one of the bedrooms if you are on a tight budget.  A lower cost solution is to present a computerised version on a laptop or similar showing what a room could look life when furnished. And floor plans which over the years seem to have disappeared from the details supplied by estate agents invariably help potential buyers to visualise where their furniture might fit.

When you decide to put your property on the market is the time to take photographs showing it furnished, as picture of empty rooms are almost worthless when trying to sell.

Finally, it does without saying that your pre-sale preparations should include fixing all those nagging little defects you may have been putting off for years, such as loose tiles, unfinished paintwork, dripping taps, cracked windows, and being ruthless in your de-cluttering.

Buying a French apartment? Beware of management costs!

Buying an apartment in France, as opposed to a freehold house, may seem like an attractive low-cost alternative - until you come to add up the associated 'management fees'. Many seemingly cheap apartments can turn out to be an expensive investment.

In my home town I have been looking at lost-cost apartments, many of them located in the best part of town, facing south onto a park (the old bit of open urban space there is) and many priced at under 50,000 euros for a small studio under 25 square metres, and attractive as a 'pied à terre' or as an income earning buy-to-let investment.

Part of their attraction can include a balcony or terrace, high levels of security, sometimes a resident concierge, central heating and hot water, car parking, and a lift (many are eight storeys or more high). Occcasionaly extra amenities such as a swimming pool, gardens or tennis courts form part of the package.

All these attractive extras however come at a price. Buying an apartment in a share building involveds purchasing the freehold in your individual apartment and in addition a number of shares in the building itself - sometimes refered to as tantièmes - the quantity calculated according to the size of your apartment. You effectively own part of the freehold and details will be written into your contract of purchase - the equivalent of title deeds to your property.

Buildings may be managed by a committee of co-owners - you become one on purchase of your apartment and become entitled to vote at the annual general meeting or indeed become a member of the co-owners' committee. Within smaller buildings, day to day management as well as major decisions such as external painting or renewal of the lift, may be handled by the (voluntary) 'syndic' (committee of co-owners). This can work well for buildings comprise, say, up to ten or twelve apartments. (I currently live in a building with just four co-owners, the largest owning two whole floors, and we meet and discuss informally any needed expernditure. There are no fixed annual costs, other than the obligatory building insurance, which we all share in proportion to our share, in addition to the insurance of our invidivual apartments).

Above this figure it is more usual to employ a firm of external building managers, some of whom are part of a larger group of insurance companies, banks or property investors. And they charge for their services. Many of these organisations have come in for criticism in recent years - for overcharging, poor management and in some cases downright fraud. They succeed in getting away with it because apartment owners are not interested in how the building is run and will pay the monthly bill of charges to the managers without raising too many questions. Until active individuals or members of an alert co-owners committee start to investigate.

The first thing you will know about the level of 'building charges' will be in the state agents' details of the apartment you are interested in buying (in addition of course to local property taxes paid to the commune). And it is at this point you will realise that the 'cheap' apartment you are being shown round may be subject to management charges from 500 to over 1000 euros per year - and possibly additional costs planned in the near future, to pay for external painting or replacement of the lift.

As a general rule the larger the building the higher the cost to maintain and pay for unforeseen contingencies, and as a result the higher the charges demanded - once again in proportion to the size of your apartment. As a result, as part of your French property hunting, if you are looking at apartments you need to be fully aware of the likelihood of additional management charges, which over the years are most likely to rise, while the value of your apartment may fall.

Posted by peterdanton@orange.fr

France - record high property prices?

Two reports in France's LeFigaro* newspaper higlight the continued rise in French property  prices - now at record levels in major French cities, and why it is a good time now to put your property on the market if you are thinking of selling.

First, property prices approaching record levels.  The evidence is onverhwelming, and following a recovery of the property market in 2016 - by over 5% in the Paris area and over 2 per cent elsewhere - the trend seems to be continuing in the first three months of 2017, despite the common belief that election years are bad for property sales (the French go to the polls in two weeks to begin the process of electing a new President and a new parliament).

Paris still holds the record for the highest average price per square metre - currently just over 8,500 euros , followed by Nice (3,800), Lyon (3,440), Bordeaux (3,2776) and Toulouse (2,640). Most of these prices reflect an increase of 5% or more over 2016.

Traditionally springtime and the arrival of warmer weather help boost sales, as buyers prefer to get their house move organised and settle before the July/August holiday break and ahead of the la rentrée in September/October when children return to school and students start at university. Job changes are also popularly organised with a September start in mind and may involve a change of location.

Another group of buyers are the retired who need to get their house hunting done before the July/August recess when second homes may be occupied by their owners or let to summer tenants, and unavaialble for viewing. The traditional holiday period may also delay completion of the property sale as lawyers and much needed public officials themselves go on hliday. Hence the need to get your property selling or buying done before the end of June!

*LeFigaro.fr

Posted by peterdanton@orange.fr

French cities going green ....literally!

French cities are vying with each other to create more wide open, green spaces, as part of their effort to combat air pollution and help reduce excessively high temperatures such as those  of the 40 degree heatwave in 2003, responsible for the deaths of over 15,000 people.

Not surprisingly one of the pioneers of this movement is the city of Paris, with a mixture of tree planting, opening up more green spaces and encouraging the installation of 'green roofs' - the use of grass and other vegetation on the roofs of schools, office blocks and other public buildings.

Although the city is well blessed with open spaces, the two largest being the bois de Boulogne and the bois de Vincennes, both located far from the city centre,  Paris lacks a variety of smaller open spaces, easily reachable by the public, for examples during a lunch break.  The two famous bois alone account for 70% of the city's open spaces.

Paris's norther outskirts are particularly short of open spaces and the city also suffers from suburban blight due to the apparently unrestrained development of huge out of town shopping centers which ring the capital, and increasing demands for more transport infrastructure such as roads and rail.

As a result during a typical summer heatwave there can be a difference of 8 degrees or more (higher) between parts of the inner city centre and a typical built-up sector. Cooling these spaces is not cheap and uses large amounts of energy - for example for refrigeration and air conditioning - and to provide insulation and double glazing increases construction costs.

With 75% of French now living in urban areas (compared to the countryside) inner-city pollution is becoming an increasing threat and a drain on healthcare costs. However some successes are already being reported including a reduction of the incidence of asthma.

Another encouraing sign is the growth of healthy eating and organic food production* and the development of small urban 'grow your own' allotments managed by the local community.

Finally it goes without saying that greener cities make more pleasant places to live in and can add to the value of your property investment.


* For more information see my recent post here about France's 'organic revolution' and my article in 'French Property News' issue 314, April 2017, pp 50-52.
And also Alternatives Economiques No. 367, Aptril 2017, pp 58-60 by Bénédice Weiss, who offers further sources.

Posted by peterdanton@orange.fr

French furnished lettings - security for both owner and tenant

French furnished lettings provide a measure of security both for the owner of the property and the tenant/occupier, following a tightening of the rules in the loi Alur of March 2014, promoted by the then housing minister Cecile Duflot.

Many are based on the regulations concerning unfurnished properties but offer a briefer period of tenure - 12 months renewable, reduced to 9 months in the case of a term-time student lettings - with the option to renew the tenancy and the right of the tenant to leave the property at any time at 4 weels notice.

On signing the tenancy agreement, the owner can ask for a security deposit of two months' rent (note that the maximum for unfurnished tenancies is just one month) and other provisions using a standard contract which will include an inventory of the contents. In order for a property to be classified as 'furnished' certain basic items must be provided by the owner, including means of eating, sleeping, heating etc and listed on a standard form which will become part of the lease and agreed between the parties.

If the owner wishes to give notice to the tenant, he can justify this only on restricted grounds,such as non-payment of rent or serious misuse, or his intention to occupy the property for his own use or in order to sell it.

How much to charge? It is possible for anyone with disposable capital to buy a property which has a tenant already in place (either furnished or unfurnished) so the rent will be known. The short-term furnished market is fairly competitive, offering a wide range of choice for a prospective tenant who will normally be well informed about going rates in the locality - from agency websites and informally from friends and colleagues. In some areas, including Paris, rents can be controlled by the local authority under new regulations (2016, 2017) designed to prevent price inflation where there is a known shortgage of available properties. Universities and other institutions may also have their own rules should a property owner wish to have his property added to their housing list.

Short term renters, according to the experts*, often have a different profile from long-termers and owner/occupiers, They may be younger, prepared to live in a small space (say, 20 square metres) on higher floors with no lift, and in cental/mixed areas that might not attract long stayers but which offer quick access to public transport, local shopping and other basic amenities, And if the property is well furnished and decorated and offers something a bit special renters may be prepared to pay an above-average rent.

Furnished lets by their nature mean a higher turnover of occupants than with unfurnished properties, and will need to be constantly refreshed and furniture  replaced. It may be possible to let them on a very short basis as holiday lets (such as through AirBnb) in popular tourist areas. In the case of 9-month student let, a two to three month summer rental might be possible - if the property is large enought for at least two people. If not, you could try attracting a seasonal worker. All these options require hands-on management in order to succeed.

* "Comment je suis devenue rentière" by Elise Franck describes in detail how she became the owner of several short-term rental properties, with numerous tips, illustrations and cost breakdowns. Essential reading, along with her website which cotains a lot of useful advice including before and after illustrations and examples of successful renovations.

Posted by peterdanton@orange.fr

Nearly 3000 new enterprises in my small French home town.........

'2 792 new enterprises in ten years' says the headline in my local newspaper L'Indépendant - surely good news for any small town of just over 100 000 people (200 000 if you include the outlying suburbs and villages.

Analysing the accompanying report however, there are a number of anomales which make interesting reading. Anyone who visits the area cannot fail to miss the large number of 'wind farms' which generate electricity as huge windmills are driven by the prevailing Tramontane gales blowing in from the north-west. What few people know is that every one of these - together with solar panels taking advantage of the 300 days per year of sunshine -  has to be registered at the local chamber of commerce as a 'business', adding considerably to the list of new 'enterprises' created - comprising around 300 to 400 'éoliennes' (windmills) implanted in the reagion.

The other major contributors are those registering as 'auto-entrepreneurs' following the creation of this self-employment regime in 2008 designed to encourage small, individual business start-ups. Of these some 75% are listed as 'personal srvices' - from hairdressing to all types of care provision addressed largely at the region's growing elderly population. The area is one of the most popular in France for retirement - remarkably cheap housing, wide range of medical services from major hospitals and clincis to thermal spas.

Plus the sunshine already mentioned and the proximity of the Mediterranean coast and the border with Spain (Barcelona is only two hours drive away) which make Pyrénées-Orientales one of the most attractive areas of France.

Posted by peterdanton@orange.fr 

Property sales rise 5% during 2016 in Pyrénées-Orientales

Sales of property during 2016 - excluding new-builds - rose by a healthy 5% in Pyrénées-Orientales over previous years - and surpassing the levels of the boom years 2000-2007following the switch to the euro and the price inflation that followed; together with a slowdown in sales - including by British and other non-French purchasers during the years prior to 2000  when prices were ridiculously low compared with Britain - a two room apartment on the beach for less than the equivalent of £20 000 was not uncommon.

The region is a now recognised first-choice for retirees from the post-war boom generation who benefited from full employment and increases in living standards during the 'thirty glorious' years up to 1980 and the shock of the first oil price rises. The typical French buyer from that period owns a house in or near Paris which can be sold for a high price that offers a comfortable budget with which to buy an apartment or house in the rural or coastal south, an area where the average price per square metre can be as low 1200 euros.......

An article in the current Logic-immo journal speaks of the attraction of the numerous small villages surrounding Perpignan, within easy reach of the Mediterranean coast (where prices are higher - for example around 4000 per square metre in Argelès-sur-mer) and the mountains inland, together with the proximity of the Spanish border for low-cost shopping; and Barcelona reached by car in two hours or fast TGV rail services (under 1 hour from Perpignan).

Posted by peterdanton@orange.fr

Paris 'chambres de bonne' to be converted into apartments

There are over a hundred thousand chambres de bonne - small attic rooms on the top floors of residential apartments, and traditionally used to house maids working for the owners below. As the employment of maids has decline over the years, owners tended to hold onto these tiny spaces, too small to legally rent (about 15% were let where they conformed to minimal size regulations) while the rest were left empty or used for storage. Their value however continue to rise with property price inflation, and was estimaed to have risen by over 80% since 1990. 

The city of Paris has recently inaugurated a policy of buying-up these attic spaces, and joining two or more together to create larger, saleable apartments.  Under this scheme an average of four chambres are linked together to create an apartment of 40 up to 130 sqare metres. When completed, they are sold in the smarter districts at between 11,500 and 12,500 euros per square metres. 

The first experiment has already resulted in a total sell-out - mainly to French buyers, who find these attic lofts attractive, particularly where the package includes improve access, such as widening the 'back stairs' or installing or extending a lift. 

These efforts alone wil not solve the capital's perenial housing problem but with over 100,000 empty chambres de bonne to working with, some thirty to forty thousand new homes could be created. 

Posted by peterdanton@orange.fr

Taking your home with you when you move

This post is inspired by an an Amercian TV series currently being shown on French television* about buying, transporting and renovating timber based affordable homes which can be sited wherever you want.

Much of the action shown takes place around Forth Worth (Texas) and features a series of entrepreneurs - a young couple husband and wife team, two sisters of a certain age, and a fearsome grandfather working solo - who buy up decrepit wooden homes sold at auction (sight unseen, buyers were not allowed inside until after purchase) and rarely costing $200 and often much less.

The secret is that the properties are large enough to include one or two bedrooms - but are transportable using a wide-load trailer and benefiting from the areas major highways. The journeys are generally around 50 miles, with an obligatory police escort, and in only one case it was found necessary to saw the building in two (it was T-shaped) and transport it in two loads. Average cost of transport including a police escort was around $5,000.

Back at base the entrepreneur(s) then proceed to convert and renovate the wooden structure, paying particularly attention to the floor and foundations, the ceilings and roof, plumbing and electrics etc - but rarely spending more than $10,000 to transform the property into a desirable small home.

On completion the wooden home is then sold agan at auction, for prices averaging around $20,000 and occasionally reaching $30,000 or more for a particularly large or attractive model. Buyers than were faced with the cost of further transporting the property to their own site and placing it onto the necessary concrete foundations, and connecting to the main services. As a result they ended up owning a desirable new property for a fraction of the normal costs of a bricks-and-mortar version on an estate.

A colleague who spoke to me about this type of housing solution said it was common in some parts of Australia for owners of this type of property to transport it by wide-loader to where they wished to move , enabling them to continue living in their existing home in which they had already invested.

It should go without saying that politicians and planners should be bold enough to permit alternatives such as those shown in the American programme. Note finally that the average $30,000 to $45,000 cost is about one-tenth of the prices being quoted for the British 'garden villages' recently announced by the Conservative government.

* French channel 6ter (22) Sundays from 11.00am 'Rénovation impossible'

Posted by peterdanton@orange.fr

How to downsize without becoming a minimalist!

As I have suggested in earlier posts, moving into a smaller property when you approach retirement does not necessarily mean that you have to adopt a spartan life and live out your retirement as a confirmed - or newly converted - minimalist. Downsizing can be a gentle process and can mean occupying no more space than you actually need and enjoying the savings - in cost, time and effort - that can result.

- As I have noted below in my advice about acquiring a (French) property, owning or renting no more space that you practically need saves money (a surplus can be saved, invested or put into your 'just in case' fund); it costs less in heating, lighting and maintenance; costs less to furnish; and offers savings in local taxes, rates, insurance and uitilities.

- Acquiring a smaller space means that you can consider buying rather than renting - if you buy wisely you will invariably get your money back on re-sale, even make a profit. You may be able to pay cash, using the proceeds of your own sale, rather than paying interest on a mortgage. Every case is different and you need to seek professional advice before deciding. 

- Simply giving up the idea of a spare bedroom(s) can help; Many I have seen gradually end up as a junk store, while you can still invite friends and family to visit and enjoy their stay in a rented house or flat - particularly good value outside the main season, and offering a 'breathing space' for both you and your visitors during a long stay.

- In my smallish loft the couch in the living room quickly converts to a double bed (duvets, linen etc are stored below the seating) and is ideal for close friends staying over for a night or two. I also happen to live above a bed-and-breakfast (chambres d'hotes) which offers another convenient alternative.

- When I lived in a studio on the marina I noticed that many boat owners also own a small studio property for visitors, as even a largish boat can become unbearbaly crowded with too many aboard. (When I left I in fact sold my studio to a 'typical' boat owner couple. They also slept 'on land' overnight if the weather was particularly stormy).

- Living in a small space also means that you become automatically tidy. Choosing your new space wisely means that you have ensured there is sufficient space for your (fewer) possessions and your motto can be the well tried 'a place for everything and everything in its place'. It works.

- Among the reasons why I left the marina and moved into a small town were the fact that the marina and adjoining 7 km beach attracted ten times the local population during the high season (principally July and August) and became eerily quiet for the rest of the year. I lived in a typical 'holiday apartment' block of 60 flats, and at most five or six of us lived there all year round (convenient when I was out and about property selling but lonely during quiet periods).

- As a result shopping and other essential services closed outside the season and a lot of journies had to be made by car (which I wanted to get rid of). I had done this  in Central London, hiring as and when needed. Surprisingly cost effective, with a full tank and a clean car when I needed it, and no maintenance!

- Apartments and houses in the heart a typical small French town tend to be cheaper because they invariably lack car their own parking space or a garage. It is possible to use public (paid) parking in the local streets or space in the many private car parks nearby. Property prices rise for just-off-town-centre properties that include parking - and perhaps a garden - and 10 - 15 minutes walk to the town centre.

- I now live in the heart of the historic old town, in a gated pedestrian alley, and surrounded by pedestrian-only streets. Within 5 minutes walk I can reach my bank, the main post office, my doctor and numerous specialist health services like X-rays and blood tests; plus a supermarket and two mini-markets that are open till 8 pm and Sunday mornings, and the daily open market in the town square (and an indoor market next to my bank in early 2017).

- These are just some of the reasons why I chose to move where and when I did. I had a lot of freedom of choice to make my own decisions and your own personal case may be entirely different. As noted above you should seek professional advice for some decisions. I have made mistakes and had a lot of advice from close friends - which I have tried to follow. Honest!

Posted by peterdanton@orange.fr




  

Buying or selling - preparing a property for sale

If you are prepating to move here's what you can do to help sell your property - and what buyers are often lookng for - including you......

According to recent research the way houses and apartments are sold has gradually changed over the last decade - owners are now taking more care how to present their home (known as 'house doctoring') and buyers are taking less time to search, viewing fewer properties before deciding, and come armed with a list of 'must-haves' which will define their choice.

- Typically buyers spend more time on the internet searching through agency websites and consulting private sales announcements and less time on the actual search, down to actually viewing just two or three properties in many cases. Items on many wish-lists include a preference for modern or older style properties, the latter often defined as 'le charme de l'ancien'. Older houses are seen as more solid and particularly if recently converted will appeal to younger buyers making their first purchase.

- Other popular requirements include:
- a large living room, preferably with an open plan (American) kitchen (rare in older properties unless recently converted)
- separate bedrooms for each child, to include a place to do homework, store books and toys, and convertible to a 'teenage den' in due course
- sufficient space and ceiling height to install a mezzanine
- separate larger bedroom for the parents (chambre/suite parentale) to include its own bath or shower room, and if possible a separate clothes storage area - known as le dressing.
- at least one more WC/shower room
- sufficient storage generally, though this is one of the easiest to remedy (numerous storage solutions offered at DIY centres etc)
- large garage - to include space for a workshop or hobbies, storage of sports or camping gear
- outside space - balcony or terrace, space for pets and children to play, possibly a swimming pool as you move further south
- parquet flooring, tiles acceptable in kitchen or bathroom
- a separate WC is a bonus - especially if it is equipped (rarely in my experience) with a wash-hand basin (to avoid visitors using your bathroom).

- A house or apartment with recent, neutral décor, as well as items from the above wish-list will make the job of selling much easier, provided it is well photographed and presented in the appropriate media. A pleasant location, including nice views, are a bonus though some buyers may compromise on either if the property itself really attracts them.

- Property descriptions to note include 'bon standing' (posh!), 'quartier tranqillle' (quiet neighbourhood), 'tout à l'egout' (connected to main drainage).

- Totally empty properties may be harder to sell as potential buyers find it difficult to visualise the overall space and imagine themselves in place. Leaving curtains hanging can help soften the space.

- Small spaces look better when furnished with a few large pieces of furniture (such as an attractive settee) rather than an abundance of smaller pieces, often advertised as 'designed for small spaces'

- I personally dislike convertible or multi-functional furniture - such as a sofa-bed (canapé) that has to be opened and fitted with sheets, blankets etc every night

- I also have a thing about ceiling (pendant) lights, particularly chandeliers, unless you happen to live in a chateau. They are best used over a table (such as a dining table) or kitchen counter, rather than as general room lighting - which can be harsh.

- Ceiling spotlights are much more subtle, particularly if you can adjust them to highlight interesting features of the property, such as wood beams.  You can do the same with 'mood' lighting, dimmers and 'task' lighting for example in your work area.

- If you are a potential buyer, your wish-list may include some or all of the above, and if these desirable elements are not already in place, you can view the property with an eye to its potential for conversion. This is where you may need to use your imagination. Many properties are on sale because their owners need more space and unless they have de-cluttered the property it will necessarily look small and un-manageable.

- You need to look at potential for shifting walls, taking advantage of large windows, introducing lighter colours (not patterned) on walls, using 'accent colours' to emphasise some features, furnishing with more modern pieces, and generally bringing the property up to modern tastes, either your own or that of a potential buyer.

- You may be depressed by the radical changes necessary to make your home  saleable, but keep in mind that your potential buyers will hopefully be the new owners with carte blanche to do what they want with your former home.

- You can get ideas and inspiration watching French TV programmes hosted by estate agent Stephane Plaza such as "Cherche appartement ou maison" featuring property buyers and "Maison à vendre" about preparing properties for sale.The average spend by vendors in the second programme is normally between 3 and 4 per cent of the asking price.  Both on Channel 6.

* An excellent source for design ideas and photographs of small spaces before and after conversions is the website elise-franck.com as well as her book which describes in great details how she goes about converting rundown  properties (in Paris, Lyon, Marseilles)  either for sale or short-term furnished letting. She also provide a consultancy service to clients. Packed with colour photographs and detailed cost breakdowns.

Posted by peter-danton@orange.fr

So you're ready to buy......some guidelines

I was fortunate in finding a job in France where I worked for an estate agency, with ten or twelve agents working from four offices, two of them on the Mediterranean coast, one in a small local town/holiday resort, and the fourth in a small village inland. I moved regularly between the offices and all of us had access to the central database which listed (in real time) some three to four hundred properties with photographs and descriptions, occasional ( frank!) comments by agents or potential buyers, and what stage the property was at - newly signed, frequently visited but no offers, under offer, in process of being sold. Our 'patch' covered a wide area (from Perpignan south to the Spanish border!) and we often drove considerable distances - far more than a typical local estate agent in Britain - sometimes making it impossible to visit more than two or three properties during the course of a morning or afternoon. Properties could be empty and we had the keys (perhaps held in another office) or could still be occupied by the owner/vendors and had to be visited by appointment.

But I gradually got to know the area and the wide variety of properties for sale, and what buyers were generally looking for, and what was feasible or not. There are over three hundred posts on this blog, identified by subject, relating to property buying and selling,  but I will try and summarise here some of the most important tips I learnt on the job.

- Allow yourself plenty of time and do not arrange too many appointments with competing estate agents or private sellers so that you have to cut short some visits. Many vendors sign multiple mandates and you may find yourself being taken to a property you have already visited.

- Be prepared to change your mind - I have met buyers who were looking for a village house who ended up buying an apartment on the beach.

- Be realistic about what you can afford. Vendors are hoping for the best price, often based on what they want to buy next, and are often unwilling to come down in price. If a property is over your budget, move on.

- Do not buy a property that is larger than you need (see earlier posts for reasons why)

- Choose your location carefully and re-visit if possible at different times. The quiet village may be overrun with tourists at weekends and during the holiday season

- If you are looking at apartments, ground floors are often cheaper, regarded as having less light, more noise, comparative lack of security.

- Older apartment buildings with no lift may mean that climbing to the third floor and above may be difficult for you as you get older.

- Check the neighbours - state of cars parked, quality of curtains at the windows, state of the 'common parts' of a building or street, though note that the French can be surpisingly casual about the state of their building which can conceal a luxurious apartment. Also for potential disburances - a school, bar, factory, main road etc close by.

- Get familiar with sizes: 20 to 30 sq metres generally mean a studio (single room) possibly with a sleeping alcove; 30 to 40 sq metres may mean two rooms; 40 sq metres and above mean larger living areas and more bedrooms (reckon each bedroom at 15 sq meters minimim). Don't forget that as apartments or houses get larger corridors occupy valuable space. As a rough conversion guide 1 sq metre is just under 11 sq feet or 1.2 sq yards.

- Note French classifications of property - an F1 means one room (usually including kitchen but with separate bathroom or shower, plus WC): F2 means two 'living rooms' plus kitchen and bath; F3 means three living rooms plus kitchen and bath, and so on.

- Note also that a mezzanine is not counted as habitable space (for taxes etc) nor are any parts of a room where the ceiling height is less than 1.8 metres, for exaple in an attic room with sloping ceilings. These spaces however make excellent storage areas and mezzanines can be ideal for bedrooms, an office or additional storage.

- You should also note that smaller properties when calculated per square metre can seem more expensive than larger properties. This is because a small apartment or studio - say, 30 sq m - includes a kitchen and bathroom as well as the living areas, whereas an additional 30 sq m in a larger property could be just another living or sleeping area or even space takend up by a corridor (adding comparatively little to the overall price).

- It is relatively inexpensive for a developer to add extra space at little cost and give it an attractive title such as a 'library', 'games room', 'guest bedroom' etc to inflate the sale price.

- A terrace or balcony adds to the price particularly if it is a reasonable size (to sit outside, share your breakfast!) and has a nice view.

- I found many buyers insisting on one or more 'spare bedrooms' which in my experience lie empty most of the time and end up accumulating spare belongings or junk which you could get rid of.

- Check the state of the equipment - electrical, plumbing, kitchen appliances, bathroom fittings etc - which may need serious modernisation or being brough up to current norms. The French tend not to have a formal survey done but there are several English chartered surveyors operating in France, catering for the British market.

- Note that if you are buying an apartment in a co-ownership, the documentation you receive will include a 'diagnostic' report including any works done or proposed for the building itself, and decided at the annual meeting of the co-owners. You will contribute to these expenditures in proportion to the size of your apartment, as you own a percentage of the building itself as well as the outright ownership of your apartment. You will of course be able to vote at the AGM once you become a co-owner.

- Check access of light and the orientation of the property. South facing means sun all day - nice if you have a living room with a terrace or balcony, not so welcome if the bedrooms are on the sunny side......

- Do not be afraid of a 'mixed neighbourhood' (quartier mixte) - class is not a major issue for many French and generally you smile and/or shake hands with everyone.

- Finally, do not 'fall in love' with the owner, the neighbours you meet during your visit, the estate agent....you need to be tough when you come to negotiating to buy (though this is best left to the agent).

Good luck with your search!

Posted by peterdanton@orange.fr

Preparing for retirement (3)

Is now the time to downsize?

Estate agents are often accused of trying to sell their clients, both French and British, the largest house they can afford, and during the years I have spent advising potential property buyers, I have often asked the question '(why) do you need all this space?' before going to explain about local taxes, the costs of maintenance of a large house and garden - and a swimming pool - and will the owners really want to be facing all this in ten or twenty years time. So as a confirmed minimalist I offer my take on the question of downsizing: is now the time?

- The 'tiny house movement' seems to have taken root in, of all places, the United States which can hardly be described as lacking space, except of course in or close to sought-after urban areas such as New York or San Francisco. But even here there is a movement towards creating small studios and apartments, popular with young singles and couples, who want what the city has to offer, as well as those seeking the wide, open spaces where they can build their own home in a converted trailer or using re-cycled shipping containers. For a broad view of what's going on I recommend you look at a website called faircompanies.com  and its series of informative videos.

Aside from these extremes, if you are thinking of buying a retirement property in France for occasional or (eventually) permanent use such as retirement, I offer the following guidelines.

- Every square metre cost money in rates, taxes and other charges; to heat, light, decorate and furnish; to maintain and keep tidy - including a large garden and swimming pool. These tasks may become more burdensome as you get older. Many people find in practice that the 'spare bedroom for visitors' rarely gets used and becomes a junk room. It can be cheaper to accommodate your visiting family and friends in an apartment or hotel close by, with plenty of choice and low prices outside the season.

- Buying small enables you to pay cash, perhaps the proceeds of an earlier sale - say, a two-bed apartment on the coast that more than pays for a slightly smaller apartment or (village) house in a less 'sought after' area inland. The extra cash can be put into your savings account as a contribution towards your healthcare or other unforeseen expesnses - and who knows the final outcome of Brexit?

- If you are hesitating about selling 'the family home' to pay for your move, note that most traditional larger homes are not what younger buyers are seeking without extensive renovation. They tend to lack the modern open-plan kithcen or 'parental suite' (large bedrooom with its own bath or shower plus a dressing room) demand by today's young couples. Your family home may also not be where younger buyers wish to live and could be losing value as you grow older. For examples see the French TV programmes 'Cherche appartement ou maison'  or 'Maison à vendre'  on Channel 6.

- Buying an apartment in a co-ownership complex such as a block of flats invariably involves additional monthly charges which can be high if the complex includes a lift, resident concierge, parking space, grounds, a pool or other amenities. There will be additional calls as needed for lift maintenance or outside painting (ravalement) voted periodically by the co-owners (you will have your vote at the annual general meeting but these additional costs may come as a nasty shock).

- In the town where I live there are attractive small studio apartments facing the park and town centre selling for as little 35 to 40 thousand euros - but with monthly charges for heating, hot water, lift etc that may be several hundred euros per month extra! You need to check these before committing to buy as well as any predicted future works to which you will be obliged to contribute. This type of apartment may be difficult to sell in the future.

- In my own case I bought a top (third) floor mini-loft in a building with just four co-owners (two of whom own the first and second floors which are run as a b&b (chambres d'hote). We have no official syndic (committee of co-owners) but decide on expenses as we go along. We have recently made the front door more secure and updated the entryphones. Parts of the building date back to the 17th century so I take the view it will probably last my lifetime! I contrbute towards the insurance of the building as well as (separately) for my own apartment.

Finally, some of my friends have commented on buying a third floor apartment in a building with no lift, but I am inspired by the 95 year old mother of a dear friend of mine who lives in a terrace house in Brighton and says climbing up and down stairs several times a day keeps her fit and out of hospital.....

Posted by peterdanton@orange.fr

Home sellers in Paris - 40% are retired!

According to figures released by Notaires de Frances and reported in Le Figaro today, an analysis of actual property sellers shows that 60% describe themselves as 'executives' and some 40% as retired (one-third of them being over the age of 60).

Neither figure is surpising, given the average per-square-metre price of 8240 euros in the central districts, and that older owners - the post-war baby-boomer generation and the beneficiaries of stable employment up to the 1980s - have been watching their asset grow and are now cashing-in, and either downsizing and/or moving south to the sun. Regions such as Languedoc-Roussillon on the Mediterranean coast are among the fastest growing in France, and property prices still well below those of Province-Cote d'Azur.

Note also that currently only one-third of the population in Central Paris own their principal or main home, the remaining two-thirds being obliged to rent.......

Vices cachés - hidden defects - when selling a French property

A French court has recently ruled that a vendor of a French property who did not disclose the presence of noisy neighbours to a buyers was guilty of concealing 'a hidden defect' and has been ordered to pay 9000 euros in compensation.

The court cames to its decision after finding that there was sufficient evidence in the form of written complaints by other residents and it was clear that the vendor was fully aware of this nuisance.

A 'vice caché' is a defect - most commonly physical - in a property, such as a cracked wall, hidden damp, evidence of subsidence - that is known to the vendor at the time of selling but deliberately not disclosed to a buyer, who can claim damages as a result.

French courts take the view that property buyers are expected to 'act prudently' and take the usual precautions, such as employing a surveyor,  And that vendors cannot be held responsible for defects of which they were genuinely unaware and accordingly could not disclose to a vendor. 

Buying a French property held by an SCI

The SCI is a French 'société civile' which is essentially not a trading company but one set up by a group of family members or friends to jointly invest in a property. Each member buys a number of shares in the SCI, with some shares confering different rights from others. Shareholders may dispose of their shares individually if they wish to retire from the SCI but the constitution of the SCI may be restrictive - for example, an obligation to offer the shares first to existing members of the SCI.

If as a property potential buyer you find a property for sale that is owned by an SCI it is essential to consult a Notaire as soon as possible (before making any binding commitment to purchase). The Notaire will examine the SCI to ascertain what its constituion says about selling the property to a third party and it is most likely that the consent of all the shareholders will be required. A Notaire acting for the SCI/vendor will deal with the distribution of the proceeds from a sale of the property between the shareholders, according to each one's share holding.

An SCI can be purchased or taken over, or created, should you wish to use an SCI as a method of (jointly) owning a French property, and as in all cases professional legal advice should be sought before you agree to buy. 

Buy-to-let - flat-sharing properties

If you own a sufficiently large French property, this morning's LeFigaro on-line has an interesting article about converting it to share accommodation, or 'co-location' , popular with young people including students.

The article describes an 'ideal type of property' based in the city of Orleans which cost around 500 000 euros to purchase, convert and equip and lists among the essentials, based on nine people sharing:
- a large kitchen/diner with sufficient fridge and storage areas and two hobs, with a total area of not less than 35m²
- a minimum of four bedrooms, each not less than 13m² minimim
- sufficient bath/shower rooms and WCs

In the example shown montly rentals were based on 350 to 420 euros per bedromm.

Source: LeFigaro.fr 12 October 2015