Attracted by the capital, you have decided to settle there. So you need to find a place to live and this is precisely the point of your dilemma because you don’t know if buying is better than renting and vice versa. We offer you some answers that will help you make a decision that suits you entirely.
Why live in Paris?
This is an excellent question, asked by those who know little or nothing about the City of Light. If you still have doubts about the wisdom of your decision, these few arguments will most certainly help.
To begin with, Paris holds a prominent position in the list of the most beautiful cities in the world. Its emblematic monuments, which are immortalized in film scenes and attract millions of visitors every year, are no longer presented. You have the opportunity to live close to highly prized sites such as the Notre-Dame de Paris Cathedral and its gargoyles, the world-famous Louvre Museum, the Palace of Versailles, the Eiffel Tower and more.
The capital also boasts magnificent Haussmann-style residences and residences of distinctive character whose facades rival the prestigious interiors. In fact, many of the apartments for sale and/or rental are in keeping with this high-end requirement.
A city with many facets, Paris can be discovered in a thousand and one ways. Take its pedestrian streets or bicycle paths. Take a stroll along the vast, ever-changing avenues or let yourself be tempted by the secret alleyways that lead to places where everything is peaceful.
Geographical location is another advantage the city enjoys. If you feel the need to take your mind off things for a day or a weekend, it couldn’t be simpler! The city is served by air, rail, road and waterways, so there are plenty of means of transport. By car, you can reach the Breton beaches in about half a day and it takes about 2 hours to reach Normandy. By plane, it takes about 1h30 to reach Marseille. It is rather the countryside that attracts you? Senlis and Fontainebleau are excellent destinations on the outskirts of the capital but they are far from being the only ones.
Settling in this world capital also offers you the opportunity to defy boredom. Shopping can be done in little-known boutiques as well as with the biggest brands. Moreover, you can find absolutely everything, from clothing to tableware, decorative objects, jewellery, high-tech products…. At the same time, the city has around 12,000 catering establishments whose concepts are not lacking in originality. You’ll have plenty of time to take a tour of these restaurants when you settle in Paris! Not to be forgotten are the flagship events such as Fashion Week, art and music festivals and exhibitions that take place throughout the year.
Paris is also popular for the abundance of student opportunities that range from nursery schools to universities. It is therefore a city where you can plan for the long term. In addition, companies are flourishing here and the sectors of activity are extremely varied. There are therefore many opportunities to find a job, whether you are a young graduate or an experienced worker.
The advantages of being a tenant
Contrary to popular belief, being a tenant comes with many advantages. For starters, you have the opportunity to invest your money elsewhere. You may have to pay a monthly rent, but no interest is charged. This extra money can be used for more or less long-term savings for professional or personal projects: starting your own business, travelling around the world, etc.
Rental also offers you the advantage of mobility. Do you want to move to the other side of town? You inform your landlord, pack your bags and leave without looking back. So you can discover all the facets of the capital and be free to move according to your inspiration of the moment. If you decide to leave Paris, it’s the same process. You respect the notice period and disengage from the accommodation. You don’t have to worry about another renter succeeding you to plan your move. It is therefore an ideal solution if you find a job elsewhere, whether in another French city or in a foreign country.
Not being the owner of your apartment, you don’t pay property tax, which considerably lightens your loads. Moreover, the work related to the upgrading and obsolescence is not at your expense. You simply have to make sure that the inventory remains identical to the one when you collected the keys. If you wish, you can carry out some embellishment work such as repainting the walls or redesigning the rooms. However, make sure you get your owner’s approval before making any major changes.
The advantages of being a landlord
It is the dream of many French and foreigners: to own a property in their own name and use it at their convenience.
The first advantage lies in the fact that you don’t have to pay out of your own pocket. Even if you have to take out a loan to buy the apartment you are interested in, the monthly payments are justified because the property will definitely belong to you. This is a perfectly valid argument, given that the conditions of access to ownership are nowadays lighter. The rates are relatively low and it is possible to compare several offers to find the most advantageous financing.
Being a homeowner is advantageous in the long term. Once your credit has been repaid, you are no longer indebted for anything. You pay the current charges such as energy consumption and telecommunication bills, but you don’t have to worry about a possible mortgage or rent. When you decide to invest in rental property, you receive income that will automatically accelerate the return on your investment.
Owning your own Parisian apartment is also a guarantee to avoid eviction. Landlords can indeed recover their property to become occupants, which forces many tenants to look elsewhere.
You are at home, so you do what you like. Break walls, add dividers, change floor and wall coverings, you are free to make your own decisions!
Finally, stone is a safe investment. You have an asset that you can enjoy as you wish and that you can pass on to your descendants as an inheritance. You also have the possibility of reselling the property if you decide later on to live in other areas. This last option is easy because prices rise regularly, guaranteeing you an almost certain increase in value.
Use a real estate professional in both cases
Regardless of your decision, it is essential to be guided by a real estate agency such as https://www.john-taylor.com/france/rental/flat-apartement/paris/. Prefer a company with solid experience in the Parisian market, knowing that there are significant price differences between districts. Moreover, the eclecticism of the city is reflected in the atmosphere that prevails in the districts. Therefore, entrust your preferences to your contact person who will be able to direct you towards properties located in residential areas as well as properties that will bring you closer to the most sparkling areas.
Calling on a professional in the context of a rental therefore offers you the prospect of finding a place to live adapted to your personal expectations. It is your profile that counts: the number of people who will occupy the apartment, the rent you can pay taking into account the security deposit, the rental conditions that suit you (furnished or unfurnished) and so on.
Contacting agents with a mind to buy offers you two options: find the apartment that suits you or identify the apartments with the best rental potential. You can buy both old and new, or even as a VEFA (sale in future state of completion). Here again, you must clearly define your criteria and the expertise of the agent in charge of your file will speed up the process. Moreover, Parisian agencies offer their help with administrative procedures. They can direct you to the notaries who will authenticate the deed of sale or tell you what financing options you may be entitled to. For more information, Paris offers its own assistance, which is complementary to the measures put in place by the State.
In all cases, you benefit from a tailor-made support that allows you to make a well-considered choice based on your restrictions and requirements.
The decision to rent or buy an apartment depends above all on how you plan for the future. If you are thinking of settling permanently in the capital, becoming a homeowner would be the best option in absolute terms. Otherwise, you can take advantage of renting.
We obviously insist on the importance of requesting professionals with a confirmed experience of the local market because Parisian real estate can be complex.