Ten Steps to Buying and Owning a Home in France

By Jay Corless, edited by Adrian Leeds

As we detailed in an earlier Nouvellettre®, French real estate data indicates that now is a good time to start thinking about investing in property in France. With interest rates stabilizing and property prices in some regions presenting incredible opportunities, there’s no better moment to secure your dream home. Whether you’re looking for a permanent residence, a vacation retreat, or an investment property, the market is ripe for buyers.

With decades of experience guiding North Americans through the complex French real estate market, we can take you step by step to ensure a smooth and stress-free process.

Here are our 10 steps to a successful purchase:

STEP 1: DEFINE YOUR DREAM AND YOUR BUDGET

Before diving into the market, you need to determine what you want. Are you looking for a cozy studio in the heart of Paris, a beachfront getaway in the South of France, or a historic stone house in the countryside?

Budget is key. Our team can help you strategize and ensure your budget aligns with your vision. French banks typically finance up to 80% of the purchase price for non-residents, so unless you’re paying in cash, you’ll need to assess your mortgage options. Don’t forget to factor in additional costs like notary fees (about 7-8% of the purchase price), property taxes, and potential renovation costs.

STEP 2: LET US DO THE SEARCHING (MANDAT DE RECHERCHE)

A “mandat de recherche” (search mandate) is a contract between a buyer and a real estate professional authorizing the agent to find a property on the buyer’s behalf. The Adrian Leeds Group specializes in working with North Americans, understanding their needs, and eliminating the stress of searching for a property in an unfamiliar market.

1. Exclusive vs. Non-Exclusive Mandate: With an exclusive mandate, we take full responsibility for finding your dream home. You can work with multiple agencies with a non-exclusive mandate—but why complicate things?

2. How We Work for You: We identify properties that match your criteria, arrange visits, negotiate on your behalf, and guide you through the purchasing process.

3. No Wasted Time: We filter out unsuitable properties, ensuring you only visit viable options.

4. With the Adrian Leeds Group, you gain access to exclusive listings and expert negotiation skills to get you the best property at the best price.

STEP 3: FIND THE PERFECT PROPERTY

The French real estate market is different from the U.S. There is no centralized MLS, so properties are often listed with multiple agencies or even directly by owners. With our vast network of trusted agents and deep market knowledge, we take the guesswork out of the process. We ensure you don’t miss out on great opportunities.

Be ready for quick decisions. The best properties go fast; if you hesitate, you may lose your dream apartment to a more decisive buyer. That’s why having our expertise on your side is critical.

STEP 4: MAKE AN OFFER (OFFRE D’ACHAT)

Once you find “the one,” you’ll make an offer in writing. This isn’t legally binding until the pre-sale contract is signed, but it does show the seller your seriousness. Negotiation is typical, but knowing how much to offer requires market knowledge. We ensure you make a competitive, well-informed offer without overpaying.

STEP 5: SIGN THE PRELIMINARY CONTRACT (COMPROMIS DE VENTE OR PROMESSE DE VENTE)

Once your offer is accepted, you’ll sign a “Compromis de Vente” or “Promesse de Vente,” the first legally binding agreement between buyer and seller. At this stage, you’ll typically pay a deposit (about 10% of the purchase price).

You have a 10-day cooling-off period to withdraw without penalty. After that, the sale proceeds unless a contingency (such as financing approval) is not met. Our team reviews all contract details to protect your interests.

STEP 6: SECURE FINANCING (IF NEEDED)

If you require a mortgage, now’s the time to finalize it. French banks offer competitive rates, and some specialize in financing for non-residents. Mortgage approval can take several weeks, so start early and work with a professional mortgage broker if necessary. We introduce you to trusted lenders who specialize in working with North Americans.

STEP 7: COMPLETE THE FINAL SALE (ACTE DE VENTE)

Our expert team remains dedicated to securing your best deal. About 2-3 months after signing the compromis de vente, you’ll meet at the notary’s office to sign the “Acte de Vente” (final sale deed). At this point, you’ll pay the remaining balance and the notary fees and officially become the owner. We guide you through every step to ensure a seamless transaction.

STEP 8: SET UP UTILITIES

Now that you’re a homeowner in France, you’ll need to establish accounts for essential services such as electricity, water, gas, telephone, TV and Internet. French utility providers vary by region. We assist you in selecting the best providers for your needs.

1. Electricity and Gas: In France, you have multiple energy suppliers, such as EDF, Engie, and TotalEnergies. Prices and service options vary, so we help you compare and set up the best plan.

2. Water: Water services are typically managed by local municipalities, so setting up an account depends on your property’s location and if the building you’re in provides it as collective or individual. We guide you through the process to ensure smooth activation.

3. Internet, TV and Phone Services: High-speed Internet, satellite TV and VOIP and mobile phone services are widely available from providers like Orange, SFR, Bouygues, and Free. We help you choose the right package based on your needs, whether you require a fiber-optic connection, TV bundle, or international calling options.

4. Waste Collection and Recycling: In many areas, waste management services are included in property taxes, but some municipalities require homeowners to register for collection services. We provide clarity on what to expect in your area.

STEP 9: HOMEOWNER ASSOCIATION DUES, INSURANCE, AND PROPERTY TAXES

Owning a home in France comes with additional responsibilities beyond utilities.

1. Homeowner Association Dues (Charges de Copropriété): If you’re buying in a building with shared ownership (“copropriété”), you’ll be responsible for annual maintenance fees. These fees cover building upkeep, common area maintenance, and sometimes concierge services.

2. Home Insurance (“Assurance Habitation”): Home insurance is mandatory in France and protects against fire, water damage, and theft. We guide you through choosing the right policy to protect your investment.

3. Property Taxes: You’ll pay Taxe Foncière (property tax) and possibly Taxe d’Habitation (if applicable). These vary depending on the location and size of your property.

STEP 10: ENJOY YOUR NEW FRENCH LIFE

You did it! Now, you can sip your morning espresso from your own balcony, soak in the local culture, and enjoy the beauty of French living. Whether your apartment is a full-time residence, a vacation getaway, or a rental investment, owning property in France is a dream come true.

But even after you have the keys in hand, our support doesn’t stop. Need help finding the best renovation team? Setting up rental management? Understanding French bureaucracy? The Adrian Leeds Group is here for you every step of the way.

Our team helps you strategize and ensure your budget aligns with your vision.

A bientôt,