Essential finance guide for buying property in France
It’s vital to be aware of and able to avoid the different financial pitfalls that come with buying in France, by being prepared with the right information at the outset. There are many important financial considerations when buying property in and moving to France. These include how you are going to pay for the property itself; the ongoing costs of maintaining your property and your lifestyle in France; the cost of any currency exchange transfers to and from France; and essential personal finance matters, such as pension and inheritance planning, ensuring you have the correct tax status, and allowing for all relevant taxes to be paid on time and to the right authorities.
You will need to think carefully about your finances at the very beginning of your French property search – planning not just for how you will pay for your property, but how you are going to finance your life in France. There are also a number of tax implications when buying property in France, depending on your residency status and whether you are moving to France permanently or buying a second home. This can all be complicated, so it’s definitely worth seeking professional advice from an independent financial advisor. There’s a lot to think about!Alexis Stratfold
The Property Buyer’s Guide to Currency will help you: