Are you planning to sell your house or flat? Is this the right time in France? There are some key clues that are more favourable than others in order to fully succeed in selling your property. RealAdvisor deciphers for you when to sell your house and when is the best time to sell your flat.
Depending on the reason why you want to sell your house or flat, certain factors will be all the more important to get the best price.
The French real estate market is in a state of flux. Although France is lagging behind many of its European neighbours in terms of home ownership, all the lights are on to catch up. The French property price index published quarterly by the Federal Statistical Office confirms the continued national rise in prices. However, the rural municipalities are doing well, with the strongest increase in property prices.
The property market and the price per square metre of a house or flat depend very much on supply and demand. As a seller, you are interested in having as many buyers as possible looking for a property similar to the house or flat you want to sell. Although the principle is valid throughout France, it varies greatly from canton to canton, city to city and district to district. Some areas are more dynamic than others, allowing faster sales at better prices.
What do buyers looking to invest in rental property have in common with those looking to buy their primary residence? With few exceptions, they take out a loan to finance their property purchase. The lower the mortgage rates, the easier it is to buy property. Some people are able to raise a larger budget, while for others it is the only way to buy a home. In any case, the interest rate on home loans from lenders has a real impact on sales. With a low mortgage rate, potentially more buyers will want to buy your property.
Is it true that there are certain times of the year that are better for selling a property than others? You have probably already asked yourself this question. Although the property market is generally more dynamic in the summer months, each season has its advantages and disadvantages.
Although selling a property quickly is generally the best solution, there are a few cases where you can ask yourself the question "when can I sell my flat?
Some properties are even more dependent on seasonality than others. The famous "real estate crush" is not a legend. It is easier to create under certain conditions. If you want to sell a villa with a swimming pool, favour spring and summer, when the pool and its surroundings are at their best. If you want to sell a chalet in the mountains, a snowy winter is your best bet.
If you are not in a hurry, it is sometimes better to wait before selling an old property. It all depends on the extent of the work. If it is a simple renovation, it can be really interesting, especially if you are a handyman and do the renovation work yourself. Your property will sell for more and faster. However, if you have to carry out major renovation work, it is much riskier. Ask for estimates. Ask a real estate broker for two estimates: one for the property as it is and another once it has been renovated. This will make it easier to calculate. Don't forget to consider the time lost.
Generally, when you buy a house or flat with the aim of renting it out, it is either to earn a regular income or to make a financial investment. Some French people only earn money through a real estate company (SCI), others use rental property to invest their money and build up a different retirement capital.
Every property project is different. Every context is different. You may want to sell one house to buy another. You may be looking to discuss a rental investment. A professional transfer or a divorce also leads to selling a house in order to move. All of these situations are possible and each of them does not have the same constraints. Your needs are different.
To know when to sell your flat or house according to your personal situation, do not neglect the advantages of the expertise of a real estate professional. They are used to adapting to their clients' needs. They will give you the best advice:
To find out how long it takes to sell a house or flat, assume that it takes about 1 to 2 months from the moment you sign the preliminary sales agreement to the moment you sign the final sales contract with the notary. Before that, the time between the moment you actually put your house up for sale and the moment a buyer makes you a written offer varies greatly. You can sell a property from the first visit if your home is priced right.
Overall, yes. As in other neighbouring European countries, the French real estate market is very much affected by the consequences of the health crisis. Buyers are more cautious about investing. Banks are just as reluctant to take out a mortgage. Even visits are complicated to organise. If you want to sell now, it is more necessary than ever to contact a real estate broker rather than to venture into a private sale which could take a long time.
This is a tricky question. Is it a "permanent" or "temporary" transfer? What is the status of your mortgage? Is your property located in an attractive French city where the property market is booming? Take the advice of a real estate broker who will be able to give you the right answers and study your file. RealAdvisor works with a hundred or so real estate agencies throughout France. You will be able to obtain precise simulations to know if it is the right time to sell or rent your house.