In France, it is always difficult to get an accurate picture of property prices, particularly across the South West France region which is so diverse.
Firstly, you are likely to see a property advertised at different prices by numerous different agencies. Secondly, particularly in rural France, it is difficult to compare the price to similar properties sold locally as most properties are very different from each other and they also do not change hands very often. Thirdly, there is no set formula for valuing property in France; some agents value purely on the square meterage of the house or the number of bedrooms, others on the average price for property in the region.
Hence it is very tricky, particularly as a foreigner, to get an accurate picture of property prices in the area you are looking and whether the type of property you are looking for is indeed within your budget and whether you are paying the right price.
So how do you work out what price you will need to pay and whether it is a good price?
Well firstly, make sure you look at lots of houses advertised online in the same area and get a feel for prices and what you can get for your budget. Research is the key initially to get an idea of local property prices.
Secondly view a number of houses and, if you love one, go back and view it a second time and ask lots of questions.
Thirdly, if you view a house that ticks most of your search criteria boxes, this property is most likely worth your budget, especially if a large part of your motivation in buying in France is a lifestyle choice. You will know if a house is going to offer the quality of life you are looking for and this is hard to put a price on.
Fourthly, how much work does it need to make it into the home you are looking for? Get an idea of how much you think you will need to spend on it and add it to the asking price and then decide if it matches your budget.
Finally, it is a cliché but a true one that the location is the most important element in assessing the price. If the house is in a good location, one that is always in demand, if it has good views and good access, near mountains or coast and near a good size and nice town or city, then it will generally be worth what you pay for it because there will always be someone else who wants this same location.
Above all, if you love the house the minute you walk in – in other words if it has that something special, that wow factor (whatever that happens to be) and it is within your budget, then it is most likely worth the price. No matter what the research says, no matter how much you have studied the market, it is impossible to put a value on what a house means to you. If you know the house is right for you, that feeling is priceless so don’t ignore it.
If you would like help with your property search, please get in touch: nadia@foothillsoffrance.com
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