Obtaining credit, hunting for the rare pearl, possible aid, future charges… A first real estate purchase can seem strewn with pitfalls for novice and uninitiated buyers. However, by listing all the steps of a successful purchase, you will avoid many surprises.

The first reflex is above all not to hesitate to multiply the visits when you have clearly defined what you want. Then you have to be wary of the speeches of real estate agents: “Other people are interested, at this price it will sell quickly, I have other interesting visits, etc.”. It is only your desire and your crush that count for the purchase of a property to live there. If you intend to rent your property, you must bear in mind the surface area and the price per square meter as well as the location. The area must be well served by shops and transport.

Once all these requirements have been integrated, it is useful to take a sheet and write down your needs that you have clearly defined before, take stock of your budget with the credit that you can obtain from banks, do not forget the ancillary costs during a first real estate purchase (charges, works, etc.), take a good look at the aid to which you would be entitled and finally negotiate the price of the property well to arrive in force in the negotiation. We detail these 5 steps for you below.

For a purchase of main residence, it is first of all a question of clearly defining your needs. Do you want to live there and build up an estate? Do you want to resell it quickly in the future? Is this an investment to house a tenant? This step is crucial because we will be more demanding on certain criteria when we are going to live in the property for several years (view, terrace, noise, etc.). Knowing what you want means avoiding several fruitless visits to the field which can quickly turn out to be frustrating. And you should know that real estate agents appreciate customers who know what type of property they are looking for, they may even offer you products before advertising them on the market! Don’t forget to take stock of the budget as well.

2 – Take stock of your budget

Central bank and credit rates have risen in recent months, making it difficult to get a good home loan. The attrition rate has shrunk, excluding many first-time buyers from the market. Borrowing capacities are reduced, it is important to take stock with your banker. Generally they accept a maximum debt ratio of 30 to 35% depending on the brand, on all of your overall income. So don’t hesitate to compete. Having the contribution is essential for a first purchase and do not forget that the longer the credit, the more expensive it is. It’s up to you whether you want to go into debt for 20, 25 or 28 years.

Be careful, you must also be vigilant and control the additional costs.

The first item of expenditure to be clearly identified for the future is the monthly charges. Maintenance of the elevator, cleaning of the stairwell, insurance, electricity… Integrate this sum well into your credit because it is incompressible from the cost of a property. The seller must give you an estimate of the annual charges to which you will have to add any future work. The amount of the charges is therefore a minimum, there may be in the year the gutter to be redone, replace the roof tiles, put a coat of paint in the common areas, etc. In addition, by becoming an owner, you will now have to pay a property tax each year. Its cost varies according to the surface of the property and the municipality in which you reside. Remember to find out the amount in advance.

Also, don’t overlook any support you may be eligible for when making your first purchase.

When purchasing your first principal residence, there are many types of aid you may be entitled to: the zero-rate loan (PTZ), the housing action loan (PAL), the social home loan (PAS) and local aid, of the municipality, department or region. Finally, the aid from the employer or the mutual insurance company. All vary according to income and your cost of purchase, it may be useful to inquire with your local ADIL (Agence Départementale d’Information sur le Logement). All this should not prevent you from negotiating your property well.

A posted price is rarely a sale price. Unless you meet the criteria of an exceptional property (terrace, view, sun, calm); all real estate listings are trading down. On average, the purchase price can be reduced by 4-8% or even much more if there is work to be done! A property that has been on sale for more than six months is also subject to a drop, as is a seller in a hurry or a defect that is detected in a technical diagnosis. You can make a fairly low first offer, this will be subject to a counter-offer from the seller to arrive at a fair price for both parties. Thus begins the adventure of the young owner.

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