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Why early Spring is a good time for buying French Property - Page 2

 
 

Complete your Property Purchase in Time for French Summer
French Property Mortgages & Exchange Rate Stability
Avoid Tax by Buying French Property in January
Buying French Property as an Investment

Complete your Property Purchase in Time for French Summer

By buying French property now you will be able to complete on your purchase in time to use your new French home by the time the sun comes out in May for the summer, so that you will save the money that would have gone towards a holiday this year and put it into your French property purchase price.

If you intend renting out your property to pay the overhead expenses and the mortgage, then you will have time to get bookings for your property for the high season, which could be particularly useful during your first year of ownership.

French Property Mortgages & Exchange Rate Stability

For many purchasers it will be a good idea to take a French mortgage on the property in order to avoid some of the currency risk. The mortgage rate is lower in France than the UK. It will also be worthwhile to buy your currency as soon as you agree your purchase in order to fix the rate and therefore the cost of the property to you in sterling. You can buy your property at a fixed
future rate by lodging 10% of the amount that will be required with a currency exchange company.

Avoid Tax by Buying French Property in January

An added bonus for those purchasing early in the year is that you will save the taxe d’habitation for this year, as it is payable by the occupants of the property on 1st January.

With the unsettled financial markets in many countries at present, it may be prudent to invest in another country so that you ‘don’t put all your eggs in one basket’. In fact France offers a very stable market generally and a safe and secure property purchasing process.

Your investment should grow over time and eventually provide you with a nest-egg, possibly for your retirement as well as having given you years of enjoyment for you and your family. If you have rented it out it may even have provided you with an income.

Buying French Property as an Investment

Although I believe that this is an excellent time to look for property to buy in France I think that it is always a good time to purchase in France as has been proved over the last 20 years.

I have just taken a look through Latitudes 1991 brochure and was amazed at the prices; whoever said property prices in France don’t increase is definitely wrong. Properties advertised in the brochure ranged from £15,000 to £35,000 for habitable houses in the North of France to £150,000 to £350,000 for houses in Provence – showing the increase over 17 years to be in the region of ten times or more. In comparison in the UK in our area of North West London prices over that period have gone up between two and seven times.

So while you enjoy your ‘free’ holidays in your home in France you can also rely on it as a ‘nest egg’ should you ever need it.

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