Five tips for Aussies buying abroad in France

Five tips for Aussies buying abroad in France
Five tips for Aussies buying abroad in France

Buying property overseas has always seemed appealing, with France being one of the first choice for Australians when buying abroad.

Host of Channel Nine's The Voice, Darren McMullen, has purchased a 19th century restored water mill in south-west France known as Le Petit Moulin.

Property Observer has compiled a list of tips and tricks when buying in the country of love.

  1. The timing of your entry and exit to an overseas property market is critical. Following the GFC, property prices around the globe tumbled but France was more resistant than other countries. Keep an eye on fluctuating exchange rates and buy when the Australian dollar is strong.
  2. Mortgages are relatively cheap in France, according to French-property.com. A 10% deposit is not obligatory, so you may be able to pay a lower deposit than you would in Australia.
  3. Don’t buy in places that close down in winter if you play on renting your property out. According to David Stratford of French Desire, 10 weeks a year of rental occupancy is realistic, with some areas reaching 15 weeks.
  4. Foreigners face two annual property taxes and also incur a tax if selling a property within 30 years of purchase.
  5. Brush up on your French! Always get contracts professionally translated and speak with locals to broaden your knowledge of the area.

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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