What are the questions to be asked to make your first purchase of an apartment or house? Not easy to navigate when you’re first-time buyer. Here’s a guide to the first purchase of house or apartment based on some questions to ask yourself before buying…

Is a purchase more financially attractive than a rental?

Renting is not always « throwing money out the window », the first thing to do before making your first real estate purchase is to compare purchase options to rental ones. You have to preserve your home long enough for the purchase to be more profitable than renting.

Is my location is going to be the same long enough?

The acquisition of a home is financially attractive compared to a rental if we stay there for enough years (the average is close to seven years now). But the world of work requires more and more geographical mobility. Are you sure to stay more than six years in the apartment or house you want to buy?

Apartment or house?

Depending on the location and your budget, you can choose between an apartment and a house. If in France, the house is the preferred accommodation, there are advantages and disadvantages to both types of housing. Do you prefer to live in a large new apartment or in a small old house?

How long does it take to buy an apartment or a house?

The purchase of a home should never be rushed. Take the time to study your project, choose your apartment or house and put together a good financing file. You will need several weeks or months before signing a sales agreement and a few months before living in this apartment.

How much can I reasonably ask for in a loan?

You must not exceed 33% of debt compared to your income, unless you have large incomes that leave you a significant amount of living. Take stock of your current credits and your income and calculate the amount of monthly payments that you can support. Be careful to keep a « rest to live » enough! Owning your home is good but you have to be able to live well before anything else. Make the calculation of your budget for a real estate purchase.