French property for sale

Saturday, July 08, 2006

The Advantages of Buying New Build Property for Sale in France

New build property for sale in France offers cheap lock up and leave homes and gives you an affordable chance to climb the French property ladder. New build properties meet the terms of all up-to-date regulations and boast good insulation and possess ten-year guarantee. Most homes are ready to move into and do not need any doing up. It is also possible to purchase off-plan property for sale in France, though construction does not usually commence until most of the respective development has been bought, however you can always view the progress of the property and costs are also less expensive.

When the home has been viewed and it has been decided that the desired property for sale in France is the one that that you wish to buy, it is essential for you to sign a Contrat de Reservation and be able to give a deposit of around 4.5% of purchase price. The contract will show the construction and payment schedule. Once the foundations of the building have been laid, you will need to pay 25% of the asking price and sign the 'acte authentique' which recognizes you as the proprietor of the property, the amount payable to the notaire is also owed at this time. New build homes have less expensive notaire’s fees and are on average between 2.3 and 4.1% of the purchase cost.

Further instalments will be necessary as the construction occurs until 95% of the cost has been paid. The property can then be properly visited and requests can be made for improvements. After this has happened the final 5% is due and then the keys can be obtained. If you are taking out a mortgage on the property for sale in France, the lender will pay the fees at all periods when necessary. With the increased demand for homes, the prices rise at each stage of completion so it is best to purchase new build property early on. Once you reserve your desired new build property for sale in France, the asking cost becomes fixed and you will not be susceptible to any future rises in price.