Published on : 02 August 20196 min reading time
In real estate, there are questions that always come back. And even if there are not always good answers, gives you some tips to help you in your purchase or rental project.
Is it necessary to have a contribution to buy a property?
Before you make a mortgage, lenders like banks need to be sure of your financial strength. To this end, they require that monthly payments of credit do not represent more than a third of your income. Another very common condition is that you have a personal contribution equal to at least 10% of the transaction amount (which includes the price of the property, notary fees and other expenses). If you wish to know more information about houses to buy, visit www.for-sale.com.
However, in a favorable real estate context, with the possibility of financial or tax assistance, and if you plan to rent your home rather than live there, the bank can grant you a mortgage even if your contribution is reduced. The rents you will receive will allow you to repay the mortgage.
Should you buy or sell your home first?
If you are already an owner and are considering buying a new principal residence, you will necessarily ask yourself this question: is it better to sell my property before buying another one? Or is it the opposite?
Starting with selling your old home allows you to better evaluate your budget for your acquisition. But that means you have to temporarily rent another property, or even a furniture repository, while you move into your new home.
By buying before selling you are sure to have a place to live after selling your old property. And generally, if you buy first is that you have found a property that really suits you and for which you had a crush.
Buy or sell first? Your decision will depend on several factors including your personal situation (professional change, favorite for a home) and the real estate context (favorable rate for home loans, financial assistance …).
Should we invest in new or old?
At the time of becoming a homeowner, one may wonder whether it is better to buy in the new or in the old.
Whether it is a purchase on plan or a construction, a new housing meets the latest housing standards but is more expensive to buy. However, many financial and tax aids can take advantage of a new property purchase. It is not necessary to do work in the early years and you can often choose the layout of the parts upstream of the project.
Conversely, old dwellings are generally offered at lower prices but often require refresher work or heavier work to bring the premises into compliance.
What type of property to choose for a rental investment?
The best rental investments are made on small surfaces. You will indeed have more facilities to rent a studio or 2 rooms rather than 4 rooms (unless you opt for colocation).
The reason is simple: families who need space are more likely to turn to buying their own home rather than renting.
As with any real estate purchase, it will be necessary to focus on the location of your future acquisition.
Is real estate a safe bet?
Many French people choose to invest in stone to build a heritage. This solution is preferred to a purely financial investment because it seems less risky in the long run. For some people, it is sometimes more reassuring to own a physical object than a virtual sum of money. A house or an apartment is a concrete investment that can be passed on to loved ones.
It is very rare that a good loses its value overnight. However, it is impossible to predict if your property will take or lose value over time. Unlike some financial investments, the yield of the stone is not guaranteed. If you are buying in a growing neighborhood, where economic growth is strong, your property may grow in value. Poor maintenance, a natural disaster, depopulation, a real estate crisis or other events may, on the contrary, depreciate the value of your property.
Should we renovate his property before selling it?
Some buyers want to buy a property where they can directly settle. Others prefer to change everything to get a good taste. Statistically, the renovated properties are selling faster than the properties with work because they give the image of well-maintained housing.
Ask yourself the right questions when selling. It is not necessarily a question of completely transforming your home. You may be hesitant to install new insulating windows, but not to change the electrical system if it is out of order (which is not mandatory). The work done before the sale is intended to reassure future buyers on the good health of housing.
If you do not have big jobs to do, it is always better to give a cool touch to his good to sell it by repairing all the small defects (a broken switch, aged faucets, damage caused by a dog or a cat…). Repainting the walls in light colors also helps to depersonalize the premises and allows potential buyers to project into your home. Finally, home staging, a practice that consists of redecorating your home soberly and cheaply, has been proven for several years.
Is the exclusive mandate really more effective than the simple mandate?
Entrusting the sale of your property to a real estate professional ensures better visibility for your home. Whether in real estate agency (showcase and paper magazine), on its website or on a real estate portal, your ad will be clearly visible by potential buyers. With his expertise, a real estate agent can also help you estimate the selling price of your property.
In the hope of getting even more visibility and as you will pay agency fees only to the one that has concluded the sale, it can be tempting to entrust the sale of his property to several professionals. Caution, however, because too much of your ad may appear suspicious for a buyer, as if the property was very difficult to sell.
On the other hand, if a single agency takes care of the sale, it is assured to benefit from a commission on the sale and thus more motivated for the sale than if it has to confront several competitors.
Do we have the right to stop paying rent?
Your landlord refuses to do work in your rented home? Know that you do not have the right to stop paying your rent for as much.
Only a court can suspend the payment of rents. Often, you will actually continue to pay a sum equivalent to your rent to a deposit that the owner can recover only once he has completed the work.