Buying Property in France – Should You Buy Old or New?

Firstly, from experience we can tell you that there are advantages to buying existing properties in some parts of France, and more advantages to buying a new build in other parts. Property markets are always changing so it’s worth calling us for a conversation before you start looking.

But comparing on a like for like basis, there are definite advantages to buying a new build / development / off-plan property in France:

• Developers Bank Guarantee: France has one of the most regulated real estate markets in the world, and this includes a lot of protection for investors buying new build property. One of the key factors, is that French property developers must have a bank guarantee in place before they can receive any stage payments from you. This means that if they fall into financial problems, the French bank must step in a support the developer to ensure that your property is built to spec. So there is no risk that your property will not be built in France.
• 10 Year Warranty:  All new build properties come with a 10 year warranty, so you are protected and insured from any issues that might arise. (e.g. with plumbing, subsidence, etc etc).
• Snags: With any new build property, when you receive the keys you are given a period of time to look over the property and submit a list of issues and snags to the developer for repair. This ensures that your property is exactly as you expect it to be from the start.
  Modern Building Standards – Improved building standards today, means that new build properties are better insulated for sound and heat, and are more energy efficient.
• Less Upkeep and Maintenance: Everything is new! So unlike when you buy an older property, there is no need to budget for refurbishment costs.
  Pick you Ideal Location – There are always many developments available throughout France, so you can choose your ideal property in your ideal location, made up to your ideal spec!
• Modern Fixtures & Fittings: Most developers will offer you a range of kitchens, bathrooms, flooring and wall tiles to choose from. If you’re also looking for a furniture package (common in the Alps) then you will also have a range of furnishings to choose from. Some developers will also provide the services of an Interior Designer to help to choose.