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| France Buying Guide Newsletter |
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| Many of us Francophiles have been waiting with bated breath for Sarkozy’s announcements on the somewhat thorny subject of inheritance tax. As has been much highlighted in the French sector press recently, he had promised as part of his election manifesto to institute a new law to amend the inheritance tax regulations in France. This was set out as a very brief note on his manifesto in which he said that he would “…suppress gifts and inheritance tax for all but the richest, so that families can freely transmit the fruits of their life’s work to their children”. Sarkozy has just placed a draft of the new law before the Conseil d’Etat, less than a month after taking office. This is of course only the first step in the process of the Bill being passed into law, and much may yet change in the drafting, yet it is a good moment to consider what the potential implications may be. The first proposal is that inheritance tax is to be abolished as between spouses. At the moment the general position is that a surviving spouse has a right to a tax-free allowance of 76,000€, with the remaining amount of any inheritance tax being paid at a sliding scale of rates, running from 5% up to 40% depending on the size of the legacy. There is also a further 50,000€ allowance normally available to be divided between the spouse and children of a deceased person, the division being dependent on the relative amount each beneficiary would take. While this explanation may appear a little complex, the new position would be somewhat simpler: no inheritance taxes as between spouses! This is good news for us Brits wishing to move to or invest in property in France. Continue to watch this space, dare I say we are cautiously optimistic here, to pinch Maggie Thatcher’s phrase? I had another super trip to Bordeaux a couple of weeks ago and greatly enjoyed wandering around the stunning village of St. Emillion. I also had a weekend in my French home in Montjoi and was lucky enough to join in the village celebration of the Fete of St. Jean-Baptiste. Three lambs were roasted on a spit and the camaraderie was such a joy – one of the great things about rural French living… Meanwhile, the Brits’ love affair with France continues… in the words of one of my readers “France is simply stylish….” I do know what he means. There is an indefinable air of elegance even in some of the most rural parts. The little town of Valence d’Agen, for example, near to my own home, boasts no less than 12 hairdressers who nearly all seem to be busy! It always makes me smile: such a great attitude, let’s keep looking good even if it is only to go to market! As for getting there, new air routes are continually coming up. I have discovered that Ryanair now has regular flights from Bournemouth International Airport to both Nantes and Marseilles. Also watch out for a well kept secret gradually coming out about the new airport at Brive “Aeroport Brive-Soulliac”. It’s a lot closer to Brive than either Gatwick or Stansted are to London. Watch this space for more on Brive…. I have had some super feedback on the France Guide, thank you. One reader described it as her bible! It is heart warming to have such a great response. Please continue to email me whenever you have a burning question or need advice looking for a property professional, or indeed to let me know about your plans/experiences. All are welcome. Any way…in this issue, you’ll find:
mailto:Alexis@overseasguidescompany.com
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Feature Article: Your instant pocket guide to a successful property search in FranceOne of the most frequent questions I am asked is “Where do I start in my search for my dream property in France?” France has so much to offer including a huge variety of properties and an incredible variety of landscapes from rugged coastline to rolling hills. Finding a property and understanding the buying process can seem somewhat convoluted. However, there are specific steps you can take to ensure you find your ideal property! Below I have noted a few golden rules to set you on your way… Always remember these two words:
Good preparation and gaining knowledge about France will make the whole process much easier. Furthermore, you will feel more in control and as a result you will be far more likely to make a huge success of your French property purchase. Some Golden Rules: • Narrow your search to one or two areas within France first. To do this best, read as much as you can about the ones that grab you. Take a good look at our France Buying Guide (http://www.francebuyingguide.com/france.htm) Read magazines, newspapers, search the net and start talking to people that have already purchased in France. • Work out the importance of location, proximity to the UK, airports, weather, type of land and any other factors that are important to you! • Ideally you will want to plan a leisurely visit to get to know the area you are interested in. By doing so you will not be under pressure to buy this time so the visit is all about getting a true FEELING for the area. Ask around, talk to the locals, check out the shops, go to the markets. Buying a property in France deserves more than one visit so start off slowly, allow yourself time to absorb what you see on your first visit, preparing you for a second visit to check out properties. • Work out your budget and be realistic. Add on 10% for buying costs and it is always good to have a contingency fund. If properties in the area you have chosen don’t suit your budget, maybe it is time to think again and change tack. Prices do vary: France is a huge country! • Make plans for viewing properties and try to arrange appointments before you go, as well as leaving some “open time” in case something crops up whilst you are there. Between four and seven days is an ideal and practical length of time to view properties. You can always visit again – France is so close! You need to keep focused on what you want and avoid being bombarded with too much information all in one go. • Remember to check French Bank Holiday dates (there are many) and arrange accommodation well in advance. Some of my readers love to rent a cottage whilst they are looking rather than stay in a hotel. On this note, check out Cottages4you. They have over 15,000 cottages to choose from and boast that they can find the perfect one for you. • Arrange to view the details of properties from your agent before you go and communicate with them as to what you like and dislike. This will allow your agent to hone in on the properties that really suit your needs. Some properties may also come up whilst you are there. Your agent will have his or her finger on the pulse for you so be prepared to be flexible with your time. • Ask questions! When your agent is taking you around, use the time to find out all about the area and what it is like in all seasons. Before you visit make sure to take with you a list of questions and concerns. • Check what is on offer with the price, whether both agent and notaire’s fees are included, what extra costs there may be, taxes, running costs etc. (The France Buying Guide has several worksheets and tick lists to ensure you calculate all the costs) • Make notes and take photographs as you go along. Once you have seen several properties, your memory may need a little jog. • Do not be afraid to make an offer as this does not commit you. Remember you are not committed until you have signed the contract AND had the seven days’ cooling off period. As I have said
before, the key to a successful property hunt overseas is preparation
and knowledge. Give yourself plenty of time to consider all aspects
and make more than one trip to your chosen area. One of my readers
commented that he and his wife took a very leisurely trip meandering
around the Dordogne without viewing one single property. He and
his wife came away with notes on each little village and what the
area was like. This exercise allowed them to go home, reflect on
what they had seen and fine-tune their criteria for their trip dedicated
to viewing properties. On their second trip they found exactly what
they were looking for – their dream location and ideal property! As with many things in life, the journey can be and indeed SHOULD be as enjoyable as the end result. France is the best country to prove this: do not rush, do not put yourself under any pressure, just enjoy the trip. There is nothing quite as lovely as ambling through the French countryside, stopping off where the fancy takes you. Your property search should begin this way – and end with you finding the home of your dreams…. I will be delighted to help you find a good, reliable and experienced agent in France. Please give me your details on my short property form by clicking on: http://www.francebuyingguide.com/property.htm and you will be on your way soon.
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TOP TIPFrance is a country justifiably proud of its culinary history – and don’t we love it! Here are some interesting little pointers to bear in mind when you discover that little gem of a restaurant that you cannot WAIT to tell your English friends about:
Finally, always keep in mind Moliere’s wonderful phrase: “Il faut vivre pour manger, non pas manger pour vivre” – “You should live to eat, not eat to live”. This surely sums up the French attitude to dining and long may it continue!
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Top Frequently Asked Question / Burning Question:Question: Is it safe to buy in France and how do I avoid the pitfalls? Answer: The first thing to remember is that preparation and knowledge is the key to a successful purchase in France. The second thing to know is that there are no obvious or indeed hidden risks or pitfalls in buying in France and the buying process is relatively straightforward and quite bureaucratic. Certainly it is safe. Having said that, always remember to take advice from a professional lawyer and to make sure you understand everything about the contract. We can help you with this of course, do not feel you must struggle through on your own. Click on: http://www.francebuyingguide.com/property.htm For more on this,
please have a look at our great new France Forum by clicking on:
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Service Review: THE CONNEXION NEWSPAPERIf you are anything like me, you will love getting your hands on any good reading material that covers all things French (hence our France Guide of course, tee hee!) so do have a look at THE CONNEXION newspaper. It is a truly excellent source of information whether you are still planning your move to France, going to check out areas or are already happily established there. We have a super offer for you, do read on: THE NEWSPAPER FOR YOU - Special offer for Overseas Guides readers Are you looking for a way to find out about what is happening in France and authoritative information about life there? The Connexion, the monthly newspaper for English-speakers throughout France and Francophiles everywhere, is the answer. The Connexion comprises national French news - in English - and quality articles on the health system - how it applies to you, as well as essential tax and financial issues, education and property updates, and a question and answer section to really assist you with your everyday life in France. Order a free trial copy by logging on to www.connexionfrance.com and quote ‘overseas’ in the promotional code box. If you then decide to receive The Connexion on a regular basis, Overseas Guides readers can benefit by having 14 editions for the price of 12. That means 14 editions of The Connexion delivered to your French home for just EUR 26 (EUR 35 to a UK address). Once again, simply quote ‘overseas’ in the promotional box as you subscribe. |
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| (New) The France Buying Guide Forum
It’s all about learning from each other and sharing our experiences of property buying in France. The forum is very new and I don’t have many posts, so if you have a few spare moments, could you PLEASE go to the form and either post a question or add some information. I would really appreciate your help. That’s all for now. Don’t forget to keep your stories and questions coming. |
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| I am excited at the thought of our very own France Buying Guide website being up and running in the not too distant future. I am constantly looking for new and updated material to include in my France Guide and shall be carrying out a review of this prior to the website going live. So watch this space, as the summer pans out there are many exciting things happening here, even if the weather is not one of them! Bien cordialement
et a tres bientot! Alexis Mailto:Alexis@overseasguidescompany.com
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