How to buy an apartment in Paris cheaper on credit
Getting owner of your home in Paris, france is difficult, but constantly easier than becoming a renter, if you have the means. Getting found housing for sale that will matches our income plus our personal contribution, we should negotiate the best possible price of the house and its credit. Easier to state than in Paris.
Complete file on the buy on credit of an residence in Paris
- Search and find the French apartment
- Work out the purchase of casing in Paris
- Zero interest loan from your city of Paris
- How much can I borrow to purchase an apartment in Paris?
- Mortgage simulator plus comparator
Buying an apartment in Paris, france is an increasingly complex job. The price increase is such it has become almost impossible for normal mortals to buy, even upon credit. The purpose of this article: to provide the solutions to become a French owner.
You understand you do not want to pay lease anymore. That you want to become a good owner. As they say, it is better to pay for a mortgage that will end 1 day rather than rent! In addition , buying your apartment can remodel it to our taste, we are able to defend our interests on meetings of co-owners, simply speaking, it’s up to us. The issue with becoming a homeowner is that you simply do not know what you can buy, or even what you let us buy. With regard to my part, I wanted to purchase an apartment in Paris like a main residence, I was just a little tired of paying exorbitant lease for a tiny studio, set up neighborhood is really very good. If you live two in a 27m ², you must at some point keep, and if you ever get the chance to buy, just go there. Yet are we really able to purchase?
Steps to make a credit at pension.
Problem: the lengthier one borrows, the greater the danger for the bank of not really receiving its repayment in a given moment: a lifestyle accident is more likely to take place over a long period. As a result, in order to offset the increased danger, banks also raise rates of interest: you will pay your credit score much more than over a short time.
I had noticed for my apartment within Belleville, Paris, that the cash that I could borrow a lot more if I took a loan more than 20 years instead of 15 yrs was clearly not worthwhile: the credit would have already been too expensive for the little extra cash I was given. Better to purchase a little smaller, but spend less time. Anyway in Paris, france, an apartment is a solution nearly all the time temporary: I do not really intend to live all my living in a two rooms associated with less than 40 m²
Apartment search to purchase in Paris
We are going to now see how to find the residence within the scope of our handbag. The first step is to get a concept of the Paris housing market. Depending on the area, we know that costs can vary completely, in Paris, france on 16 th region is much more expensive than the nineteenth… so you have to know exactly what our own priorities in purchasing a flat, knowing that all that makes the associated with a home in Paris may be the location, and the m², the area. The prices are such that the standard of construction of the building, regardless of whether there is an elevator or not, assistant or not have become accessories to the final price. These criteria will certainly serve at most to separate 2 equivalent properties.
Let’s start by finding the lodging of our choice in Paris, france.
- View websites: I highly recommend seloger. com and avendrealouer. fr to get started. You can search by borough, metro station, area and many more criteria. We must also consider the ads of individuals, on pap. fr, even if there is generally much less choice on Paris, france.
- Peel real estate listings from agencies. Frequently , you will find at the door associated with agencies. No particular guidance to give on it, real estate firms in Paris are all really worth in my opinion, only the property you need to buy really counts!
- You now know how a lot your future is at home and which neighborhood. It is time to examine the prices on immo advertisements with the reality of notaries. You are aware that the costs of ads are investing, all, and that you usually get the apartment for less than what was shown. To check the price, there is a specific site on Paris as well as the Paris region, which makes a good estimate of the real estate associated with Parisian housing, door in order to door, street to road, district to neighborhood: BestGrants. This allows you to immediately find out if the seller of the house does not inquire too much money in relation to the market cost, and gives you an idea associated with what you can negotiate.
You now possess a clear idea of the costs, their evolution, and what you can obtain. Do not look too much with advertisers’ prices, only sqm and location count.
Evolution of the associated with a real estate advertisement
This extension for web-site can be considered as the ultimate tool to negotiate real estate. Rocatus allows you to see the evolution of the ad on major real estate property sites: we can get a chart showing the evolution from the price, how long the advertisement is online, and the cost per square meter demand. A property that has been on sale with regard to 7 months is likely to industry more easily than the one that had been put online yesterday!
Negotiate the purchase price within real estate, it’s not easy, view the dedicated page on the website from the City Council of Paris, france.
Response deadlines for the zero rate mortgage
The main problem there were with both zero rate financial loans is the response time: lengthy. You know, when you sign your own promise to sell, you have a time for you to get your credit, usually thirty or 45 days? I actually urge you to increase now, to be quiet. Why not over 8 weeks!
The deadline day for a credit agreement
The normal mortgage, that of the financial institution with an interest rate that will consequently cost us money had been accepted within one hour: with a record and a small mortgage, the bank is quick to reply. But with regard to absolutely no interest loans, it is no more the bank that agrees, however the state and the city of Paris, france. The bank takes care of obtaining the required agreements, but can not deliver the file at the same time on the city of Paris and to their state: it must be done successively, which usually multiplies considerably the time!
This is, for me, unusual. Zero interest loans are usually granted according to specific problems of annual income, and, so far as the city of Paris is involved, residence (you must reside in Paris for at least one calendar year in order to benefit from the loan). Exactly why so much waiting time? I actually do not mind having to look into the documents provided, but hey Nevertheless, it should not be a serious scandal, even if we surpass a little time: the seller does not always want to prevent the sale simply by justifying our delay in order to retract. Even less when the seller is stuck with the bridge loan.
How to have a bigger credit score?
This one-third revenue rule changes a bit when you have a lot of income. It’s about negotiation and persuasion together with your banker. If you earn ten, 000 euros per month in addition to substantial savings, where you will always be able to save for example five, 000 euros each month, you do not have too much trouble obtaining a credit of more than one third of the income. In general, if you have the opportunity to earn more than 50, 1000 euros per year, you can easier go to a debt ratio associated with 35% or 36% rather than the usual 33%. If you are on the SMIC and you have no cost savings, then I think it will be not possible to get a loan, but , as the saying goes, it is tempting.
The main factor that can help you obtain a bigger credit is your financial savings and lifestyle, and therefore your individual contribution, the money you curently have to buy the apartment. Individual contribution is proof of great faith, you can save money and don’t spend too much money. This kind of wise behavior is very popular with brokers, who can give you a loan that will goes beyond a third of the income. I personally preferred never to exceed one third of our income for credit (although it is not sure that I could have got exceeded in fact), and am had a good contribution: Used to do not have difficult to obtain credit score, especially since I have a little savings, a CEL ( housing savings account ) along with a PEL ( housing cost savings plan ) that I never have used (it will be for the future investment immovable).
My two savings balances are proof of good belief, even if they are tiny, perfectly seen by the bankers, simply because they prove that we are able to conserve.
I pay only 100 euros a month upon my PEL automatically, in the CEL I only place money when I can. For the, even if the interests are small, it is better to have a small financial savings at the time of the application for home loan, it is easier to convince their banker to give us an excellent credit. If by opportunity you are not in the optics of purchasing your principal residence, and when you intend to take advantage of the Scellier Legislation to make a rental investment, the particular bankers will know better to pay attention to you during your loan application: the particular investments rental properties are seen by banking institutions.
As we bought within Paris, we could also create very good loans at absolutely no rates, which financed all of us a large part of the property, hence allowing us to take a larger credit than we would have experienced if we lives in another town. The city of Paris nevertheless lent us almost forty, 000 euros at absolutely no rates! If we add to how the 20 000 euros from zero rate of the Condition because this is our initial real estate acquisition, we could fund at low cost our small Paris apartment. The amount borrowed by the State and the associated with Paris is based on the structure of the household that will reside in the housing, and its earnings.
For the part, I find this particular rule (and not Law) one-third of revenue very well done for bankers. We could state: I earn 3000 pounds per month, I pay multitude of, I live on 1000 pounds, what about the 1000 pounds remaining? The banker will certainly answer you simply: save. That is what I do, I conserve, in addition to credit. So I was prevented from taking an excessive amount of credit while technically I really could, I am forced to be careful, since you never know, accidents of living such as the loss of a job or even a divorce, it happens a lot more never a long calm lake. It is no worse, whenever we know the number of people who discovered themselves banned because they can no longer repay their financial