Are you looking for an apartment to buy in Paris and are you afraid of making mistakes? Buying an apartment is a commitment and a real investment of time and money, which is why it is important to take every detail into account when making your purchase.
In this article, we have detailed the 5 mistakes to avoid when buying an property in paris for sale, as well as our best advice for carrying out your real estate project.
I don’t have a clear idea of my financial resources
This error is much more recurrent than you would think for a simple reason: we do not know where to start. When you are looking for an apartment to buy in Paris, you get lost in all the things you have to think about and you stay in the approximate, except that when it comes to budget, you have to have a clear idea of your own financing capacity as well as the borrowing capacity that we could request from the bank.
Thus, before starting your search, we advise you to properly estimate your financing and calculate your borrowing capacity with your bank advisor or broker.
I don’t have a priority order in mind
It’s good to have criteria and expectations, but it’s often difficult to find an apartment that meets everything you have in mind. It’s a fairly common mistake because if you decide to buy an apartment in Paris, you expect it to look as much like the Parisian apartment of your dreams as possible.
To carry out targeted and effective visits, we invite you, depending on your main objective, to prioritize your search criteria.
So to avoid this error, you can use a very simple technique: write down all the criteria you have in mind for the Parisian apartment you would like to buy, starting with the type of property, the location (districts), the surface (knowing that the price per m² varies according to the districts) and continue to write down all your criteria, going from what is essential to what can be adjusted.
I don’t know where I’m stepping
Many future buyers make this mistake: the real estate market varies according to the type of property. You are not going to choose the same neighborhood if it is an investment to rent out or if it is your future main residence.
To avoid this mistake, we recommend that you take the time to better understand the real estate market in Paris.
So, you should visit several similar properties, question the agencies and compare your expectations with your possibilities. This will also allow you to learn to make some concessions on purchasing criteria that are not essential for the success of your project and to quickly identify the apartments that meet your expectations.
I do not take the work into account
Many make the mistake of not including the cost of the work in their budget. And yet, it is often the best way to arrange your Parisian apartment according to your tastes and let your personality express itself through your property. The most beautiful https://mlsworldwide.com/sale-france-ile-de-france-paris houses for sale in paris have very often gone through this phase of work before acquiring all their character.
If the property that caught your attention requires work or a simple refresh, contact an architect or a contractor to precisely assess the cost.
I do not read the documents relating to my new apartment
It seems obvious and yet… It is very important to know what you are buying and to be sure that every detail of the apartment has been presented to you in due form; which will save you a big disappointment.
Before making an offer on a property, consult and carefully check all the documents relating to the property and the co-ownership (minutes of the last 3 general meetings, statement of charges, diagnoses, etc.)
To confirm that everything is in conformity. What you have visited and what has been presented to you. This will also allow you to know the state of the co-ownership and any work and/or procedures to be taken into account.
