Let Cimalpes guide you for your purchase.
If you are looking for a place to settle down, then you are in the right place ! Cimalpes is located in Courchevel, Méribel, Megève and Val d'Isère.
1. DECIDE TO BUY
Important decision in the life of any person, the purchase of a property is not negligible and must be done with knowledge of all the options available to you. There is never a bad time to invest in the accommodation of your dreams; on the contrary, you will be able to enjoy financial advantages like the gain in own property, the appreciation of the value of your home, not to mention this new feeling of pride in you!
2.CAREFULLY STUDY YOUR PROPERTY BUDGET
Investing in a property means spending your finances in a lasting good. Include the cost of your acquisition: the purchase price, the cost of borrowing and the annual expenses.
Becoming a homeowner involves substantial expenses that you must prepare for.
Two local taxes are added to the purchase price of your property:
- The property tax, payable by any owner,
- The residential tax, paid by any person occupying a dwelling.
Before applying for a home loan to help finance your new acquisition, consider calculating your debt ratio, which should not exceed one third of your monthly income.
Once this calculation has been made, you will be able to look at the conditions for obtaining a loan: your bank will be willing to finance you if your personal contribution is at least equal to 10% of the purchase price, and your debt ratio does not exceed 33% of your monthly income.
Other financing options are available to you: the zero-rate loan, the housing loan or the government-assisted loan scheme.
3. CHOOSE THE GOOD REAL ESTATE AGENT
A good real estate agent is a professional who puts his clients first to help them realize their dream, and he has to defend it.
He will inform you of the current conditions of the real estate market, will be at your listening to determine your desires and your needs concerning your next housing and will be in constant relation with you and the other collaborators necessary to the completion of your project. He will negotiate the best deal on your behalf and ensure that all steps are properly completed.
4. DISCOVER THE APARTMENT OR THE CHALET OF YOUR DREAMS
Your future acquisition will have to meet all your needs and as many of your desires as possible. To find it, your agent and you will have to ask yourself the right questions:
- What amenities are you (and your family) not willing to give up?
- What space do you need and why?
- What matters most to you: the situation or the size of the property?
- Could a renovation interest you?
You will learn it as you research: your priorities are adapted to the reality of the market.
Once your home is found, you will need to think about your potential installation.
Will you need to do some work? This question is crucial to avoid unforeseen expenses and to face a problem that may seem enormous when little time and resources are enough to solve it.
5. MAKE A PURCHASE OFFER
Once your choice is set on a property you like, the next step is to decide on a purchase price. Housing is a lasting investment. Your agent can help you set the price of your proposal with information about your neighborhood.
A few things will help you make the right decisions:
- Evaluate the value of the property: take a tour of the dwelling, in every conceivable place, to estimate its value in the market. Make a list of the strengths and weaknesses of this property to appreciate as accurately as possible its value.
- Analyze the market: inquire about the current conditions of the local real estate market, but also in the neighborhood where your property is located. The prices of chalets or apartments for sale, similar to the desired property, will give you an idea of the fairness of the price of your offer to buy.
6. SIGN THE SALE COMPROMISE (Compromis de Vente)
Once the purchase offer has been accepted, make sure you are in good financial and credit conditions and do not make major purchases : it is best to keep your finances intact during the purchase process in order to solve any problem.
The Compromis de Vente is a very important preliminary contract, drafted by a notary and signed by the two parties engaged in the sale. It must be signed within one week of the approval of the offer to sell. Its role is essential: it allows the notary to have the time to gather the documents to finalize the sale and stipulates what must appear on the Authentic Act of sale:
- The description of the property and its contents at the time of sale
- Mandatory and specific clauses such as suspensive clauses
- The date of availability of the property
- Real estate diagnostics provided by the seller
7. BENEFIT FROM A RETRACTION PERIOD
Under the French law, you get as a buyer a period of reflection of 10 days after receiving the Compromis de Vente to withdraw from the process if you wish.
8. SIGN THE AUTHENTIC ACT OF SALE
The final contract of sale is read by the notary to the seller and the buyer so that they take notice of possible errors and can rectify them. Upon the signing of this Act, the buyer must pay the amount (or the balance of the purchase price) indicated in the Authentic Act.
It is also at this point that you will become the owner and receive the keys to your new home. You will be free to go directly to your new home and celebrate your new acquisition!
9. THINK ABOUT YOUR FUTURE
The house is now your responsibility and in your interests, protect your investment for years to come by maintaining it daily to not face major damages.
You can use your property as a seasonal rental, during the long winter season as in the resort of Val d'Isère or throughout the year in Méribel, Courchevel or Megève where the properties have a potential exploitable during summer and winter.
Think of the life you are going to spend in your new home, and think about its succession. Your property is subject to the French laws and its transfer requires to be treated in France, even if you are not resident.
Make sure to pass on the home that have seen your most beautiful family reunions and old days!