Steps to buying a house

Access to property is an achievement for the French. The purchase, the acquisition of your first property is an essential step in the life of many French people. Discover . On the other hand, the first time it is essential to prepare your purchase well and to be as informed as possible in order to generate the most judicious decisions. The first enrolment situation is determined in relation to the 2 years preceding the purchase of a principal residence. This means that will be considered as a first time buyer.

Documents to provide for a real estate purchase

Several documents must be provided so that the bank can examine a mortgage document each time you are a first buyer: identification documents and documents relating to the personal situation of the buyers; documents concerning resources, such as the last two tax notices, the last three salary slips and also that by December of the last calendar year, as well as proof of their personal contribution; components relating to the ownership effort, i.e. the compromise or promise to sell, the reservation or construction contract, or the permit to build the property French Riviera. You should understand that for first-time buyers wishing to benefit from a loan under any circumstances, rental receipts may also be requested to show that this is the very first purchase of real estate. The home savings loan is a loan that can be obtained by buyers who have launched a home savings program or PEL, the savings blocked for four decades. This loan often offers advantageous conditions for PEL holders. There are other types of loans for first-time buyers such as home loans.

The budget for his first real estate purchase.

The very first question to ask yourself before you start buying a property is the budget. Really, it determines the rest of your business. To prepare for the purchase of your property, start by defining your borrowing capacity. The ability of mortgage loan requirements, therefore, the purchase of the property. The calculation of borrowing capacity is based on income and debt levels. The debt level is the ratio between all monthly loan payments, regular expenses and income. It is estimated that this ratio should not exceed one third of income, or about 33%. Remember that, depending on the amount and size of your current credits, you will only be able to spend a certain amount, more or less significant, to pay off your mortgage.

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