The 8 Best Tips for Buying A Paris Apartment
Ready to start searching for your Paris dream home? Begin here with our collection of expert tips that highlight the concerns and smart moves required to navigate the Paris real estate market.
Please read more about our tips here, including the answer to the question that most buyers ask: "Can I rent my apartment when I’m not in Paris?"
- Tip 1: Full or Shared Ownership in Paris
- Tip 2: Finding the Perfect Location to Buy in Paris
- Tip 3: Finding the Right Apartment -- Don’t Settle for Less
- Tip 4: Getting the Best Results from Paris Real Estate Agents
- Tip 5: Remodelling Costs in Paris
- Tip 6: If You’re Not 100% Certain...
- Tip 7: No MLS in France: The Value of a Good Search Agent
- Tip 8: How does the Purchase Process Work in France in Simple English
- Bonus Info: Can I rent my Paris apartment short term?
Paris is a city to love; it literally grabs you and never lets you go. Many of us want to live in Paris and live the Parisian lifestyle, at least part of each year. Our dozens of owners can tell you that it was the best decision ever. We have assisted over one-hundred buyers to find their perfect apartment in Paris. We’re very proud to say they have all been delighted with their purchase, including the remodeling we carried out for them. In fact, each owner has realized an excellent capital gain on their investment.
We’re proud when readers tell us it’s the most open, honest and detailed advice they’ve ever found. With that in mind, our team would be happy to help you buy your ideal property in Paris.
Bonus Info: I'd Like to Buy a Vacation Apartment in Paris and Rent it Out When I'm Away. Is This Possible?
The short answer is no. Paris rental laws have tightened over the past few years, similar to other major cities such as New York. An owner cannot rent their non-primary residence in Paris for less than a year, period. Click here to read more.
TIP 1: Full Purchase or Shared?
Based on long experience in working with buyers, we have seen a new trend emerge: Many buyers want to live in Paris and other locations, but for limited periods and without the costs or responsibilities of full ownership. Ideally, purchasing part of a property for the time spent in these locations, rather than a full second or third home.
This is possible through fractional ownership, which allows each buyer to purchase deeded ownership in a beautiful apartment, for four weeks per year, at a fraction of the price of full ownership. Owners achieve their dream of living part time in Paris at a very reasonable cost and without the responsibilities of full-time home ownership abroad.
We started Paris Perfect Shared knowing that our family-run company possesses the essential skills to locate, remodel and manage the absolute best properties in Paris and Europe for fractional ownership. These skills, honed over two decades in business, allow us to provide fabulous properties, at advantageous prices, with extremely low, predictable annual costs.
Paris Perfect Shared was launched in 2018 to excellent success. Since that time, we developed a portfolio of fractional properties of varying sizes, which sold rapidly, with more to come. This option might be the best solution for you. Thus, we invite you to learn more about fractional ownership here.
Tip 2: Where to Buy in Paris: Find Your Favorite Neighborhood
Start your search by exploring many neighborhoods in Paris to find the right balance between the areas you love, your needs and the security of your investment. Paris is made up of little villages in its snail-like structure. Each arrondissement has special features, attractions boutiques, bistros and markets. We know that you’ll find many which you can call home. Our advice is to explore, talk to others and walk, walk and walk. What could be more pleasurable in this beautiful city? Take walks in the evening and during the day to see how the character changes.
Some buyers choose trusted locations that hold their value, century in and out. Others want to push into emerging arrondissements that are up-and-coming. Our core advice is to think defensively. Meaning, in a weak market, will the location you’ve chosen still be highly sought after if the market turns south? As in any city, the best neighborhoods tend to hold their values even in bad markets. Click here for our tips about finding the right neighborhood for you. It’s all about location, location, location!
Tip 3: Find That Perfect Apartment; Don't Settle For Less
For serious Paris apartment shoppers, we provide food for thought as you start the process of searching for and selecting your ideal Paris apartment. Click here to read our advice on clarifying exactly what you’re looking for, how to use real estate agents effectively, tips about changing your mind, deciding quickly, transaction fees, remodeling costs and more. You’ll find that a continuing theme of ours is to be prepared. Know exactly what you want – what kind of building, preferred floor, old or new, street or courtyard view, elevator, even the specific street… and don’t settle for less. It may take months or years, but it will be worth it. Read our advice here.
Tip 4: Real Estate Agents: Tell The Agent You'll Pay The Market Price
One of the most important tips we’ve learned when contacting a real estate agency is to explain that we’re prepared to pay the market price. Yes, they may overprice a property, and yes, we’ll negotiate hard if it’s overpriced. But, if you set unrealistic price expectations or have your heart set on finding a “bargain,” agents won’t even notify you of a listing if you’ve already set an unrealistically low budget. What you want is the first call to view the property, and then decide what you want to pay.
Importantly, if the apartment is ideal for you, and especially if it possesses irreplaceable features such as a balcony, lovely view and elevator, then grab it even if it’s a little more than you planned. Read on here.
Tip 5: Remodeling Costs Are The Same, Whatever The Location
Remember that it will cost the same to remodel your apartment, whether it has an elevator or is six floors up via the stairs! Costing around € 3,000/m2, you don’t want to save money on the location or apartment only to spend a fortune to remodel it. Read more here.
Tip 6: The Most Important Rule of All - If You're Not 100% Certain, Sleep On It!
If you think you‘ve found a terrific apartment, but have some niggling doubts, use discipline to say thank you and leave. Have dinner and sleep on it before making a decision the following morning. This is hard! I know! Click here to read more.
Tip 7: There Is No MLS Or Multiple Listing Service in France: The Value Of A Search Agent
There are over 3,600 agencies in Paris and NO multiple listing service. In short, you will be overwhelmed by the listings when you search online or contact individual real estate agencies. Remember, without an MLS, each real estate agent has a very limited selection to offer you and their goal is to sell only what they have for offer. As anywhere, the best listings sell fast, so agents will sell what they have left. You’ll receive very limited information about the apartments.
Our advice is to consider engaging a property search agent, one who knows Paris real estate, who has worked with multiple agencies and agents and who works only for the buyer. But first, look online real estate listings yourself, visit as many agencies as possible when you’re in Paris, so you begin to understand the complexities. That experience will help you refine your search, judge more quickly and you may even get lucky and find your perfect home! Read on here.
Email us for more information about our services: [email protected]
Tip 8: How Does The Purchase Process Work
Whether it’s a thorough notaire, a good search agent or expert tax and legal advice, take the time to find the best advisors for your needs. Interview and speak with experts until you find ones you’re comfortable with. France has unique rules for purchasing property that are important to keep in mind when thinking about buying property in Paris. The important news is the process is clearly defined and the buyer is protected by rules set in place since Napoleon.
Please read more about our tips here, including:
Tip 1: Full or Shared Ownership in Paris
Tip 2: Finding the Perfect Location to Buy in Paris
Tip 3: Finding the Right Apartment -- Don’t Settle for Less
Tip 4: Getting the Best Results from Paris Real Estate Agents
Tip 5: Remodeling Costs in Paris
Tip 6: If You’re Not 100% Certain...
Tip 7: No MLS in France: The Value of a Good Search Agent
Tip 8: How does the Purchase Process Work in France in Simple English
Bonus Info: Can I rent my Paris apartment short term?