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.