10 tips for buying and renting an apartment in Paris from abroad

You do not live in France, but do you still want to become the owner of an apartment in Paris as an expatriate? It is entirely possible to make this kind of project a reality, although the distance can naturally impose some obstacles. Indeed, even though the market in the capital is already very tight, it can be difficult for someone who is not there to assert their candidacy in the face of an interesting sales offer. More than ever, to have your Parisian home and rent it when you are an expatriate, you need solid support on the ground. Discover 10 essential apartment hunter tips you need to know before you start!

Ask for support from the start

Someone who is already in Paris can quite easily start a few visits independently, in order to get an idea of the state of the market, and even possibly to send first purchase offers. But for you who live on the other side of the planet, or in any country abroad, everything seems more complicated from the very first steps.

Also, faced with your expatriate situation, ask for personalized support for your real estate purchase in Paris, from the beginning of your project. You must be sure that you can count on a professional present on the ground for you, otherwise your case will fall behind those of individuals already on site, who will be able to argue around their respective offers.

At HOME SELECT, we offer specific support dedicated to all expatriates wishing to invest in real estate in Paris. We are aware of the specificity of your needs, and we are ready to guide you in all stages of your life project. We will not simply do the research for you, we will be available before (as soon as the specifications are written) and well beyond (until the keys are handed over, or even possibly the organization of work if necessary).

Know how to distinguish between subjective criteria and the purchase of reason

Expats who plan to buy an apartment in Paris generally want to do so from two perspectives: to be able to have available housing when they go to the capital, but also to generate rental income during periods when they do not need it. Faced with these two completely different projects, you must succeed in distinguishing between your own criteria (naturally subjective) and those that are more rational, essential to methodically position yourself on the rental market.

Remember that, if you want to make your investment profitable, you must make sure you select a property that is easy to rent, otherwise you will potentially lose money for more or less long periods of time. Of course, this does not mean that you should put aside all the criteria that matter to you, and which are less objective... You simply have to find compromises, in order to aim for the right balance between heart and reason!

At HOME SELECT, we are qualified to help our customers in drawing up their specifications. If you tell us about your desire to rent and occupy the accommodation over different periods of time, we make every effort to define with you the most relevant criteria to look for on the home.

Choose properties without work if you have little time to devote to renovations

In Paris, many old buildings of character house rather bourgeois apartments, highly sought after by wealthy customers in search of serenity and refinement. However, over the years, some installations need to be renovated, not to mention that refreshing work may be essential in terms of decoration. All this involves a lot of time, but also personal investment... Realities that are difficult to reconcile with the life of an expatriate who invests in Paris!

So, in your case, it is probably more appropriate to favor apartments in which there is no (or very little) work to do. Ideally, rely on homes that are already ready, inside which you just need to leave your things... These are fairly rare opportunities, but far from being non-existent in the capital. Of course, to give you a maximum chance of accessing these offers with high added value, the support of a professional property hunter will be decisive.

At HOME SELECT, we know that our expatriate customers often prefer apartments for sale without construction, with all the comforts of a modern home. If you recognize yourself in this description, we will find the property that meets your requirements in every detail. We do not hesitate to use our large network to visit the most beautiful interiors for sale, especially in the off-market sphere.

Know the local real estate market, that of the neighborhood

This is an essential prerequisite for any real estate purchase, whether you live in Paris or abroad: you must take the time to know the local market before starting to research and formulate your first purchase offers. However, it is naturally more complicated to do this preliminary work when you are not on site, and when you have an already very busy personal and professional life.

Because in Paris, disparities are particularly difficult to understand: they exist of course between districts, but also from one district to another... and sometimes even between streets! In short, to know what prices to position themselves on and to what extent it is possible to negotiate, for example, you need real expertise that only real estate specialists can have.

At HOME SELECT, our apartment hunters are all linked to well-defined geographic sectors. This strategic choice allows us to be as close as possible to each client, since hunters work on small areas that they know like the back of their hand.

Becoming aware of rental needs

Remember that you are not only buying for yourself, but also in order to rent the apartment. For example, you can rent to vacationers and offer your accommodation for short periods of time, as long as you fully furnish and equip it. But you can also target professionals looking for a bit of serenity during their business trips, young professionals who rent for fairly variable periods of time or families, who generally make it possible to have a home occupied over the long term without too much difficulty.

Depending on the neighborhood in which you want to invest, you need to know what the main target is: tourists in the most visited areas, students near universities, executives around business districts, etc. From one street to another, we sometimes tend to look for small apartments for rent, while large family homes are preferred over other areas. You absolutely need to know all these specificities in order to make the right purchase and easily find tenants.

At HOME SELECT, we not only control the real estate purchase market, since we are called upon to advise clients wishing to invest in rental investments. In this sense, we can without any problem guide you in choosing the criteria that will allow you to avoid a rental vacancy as much as possible.

Consider credit conditions and get support

When you are expatriate and you ask your bank in France for a loan, you are initially less likely to get an agreement. However, this does not mean that it is impossible, quite the opposite! Because if you have a solid record with good guarantees and a stable situation, the bank has no reason to refuse your credit. Of course, the amount you contribute is also an argument that can work in your favor.

However, since you are not there, you may have more difficulties in negotiating, and in obtaining more advantageous conditions, for example (or a lower rate). This is why the help of a broker seems essential for any investment from abroad. This will manage all the administrative aspects of your Loan application, and his knowledge of the sector will easily allow him to negotiate in your favor.

At HOME SELECT, we are in a position to contact other professionals for all our customers, according to their needs. Our large address book helps you to make your project a reality in the best possible conditions, with confidence. Without any worries, we introduce you to broker collaborators for the subscription of your mortgage loan.

Do not limit yourself to goods available on the Internet

If you start some research on the Internet, you may have the impression that you can quite easily find a certain number of offers of properties for sale in Paris. However, you should be aware that this visible part of the market is in reality not representative of what can really be found.

First of all, when you start making a few calls, you may find that many offers have already expired, because several purchase proposals have already been issued before... Not to mention that, even if you are given the chance to submit your application, your file may end up in the middle of a dozen (or even more) others. Off-market represents a potential that you would be wrong to deprive yourself of: these are properties that are sold more confidentially, without being published on traditional networks. This way, we sometimes find exceptional homes, not to mention that we are more likely to succeed in buying them, because the number of applications is lower.

At HOME SELECT, our research takes into account the off-market, and makes full use of it. Thanks to our constantly renewed address book, we are on the lookout, always aware of new offers that are coming in and that are not yet known to the general public... So many chances, for you, to make your project a reality more easily — and in better conditions —.

Be supported by an interlocutor on site for negotiation

With the development of remote and 360° virtual visits, more and more real estate transactions are effectively carried out without face-to-face appointments. Finally, it seems easier today, for an expatriate, to buy an apartment in Paris than before the deployment of all these innovations... But this truth can be misleading, against all expectations.

Because if you can visit without traveling and communicate by video conference without any worries, communication will never be as authentic and as fluid through these means. And as soon as you start on dangerous subjects like negotiation, you are clearly likely to find yourself in trouble. This is why you need an interlocutor on site, who will act in your interests and orchestrate a negotiation for you.

At HOME SELECT, our only interest is to serve those of the buyer. In this sense, when we organize visits and when we replace you to send a purchase offer, we put all our know-how and our sense of communication into action to respect your budget... And conduct a negotiation that will undoubtedly be profitable for you.

Manage renovations remotely before renting or moving in

Before you think about renting out your new apartment (or moving in), you may need some work done, even if it's just a decorative refresh. In any case, it will be relatively difficult to organize if you are not on site... But you can count on an apartment hunter to replace you in this task.

The property hunter continues his support beyond the purchase, and he can get in touch with the artisans you need for a renovation or some decoration work. Remember that a redone paint, a fitted kitchen or even more modern equipment not only contribute to the value of your assets, but also to facilitate the rental of your property.

At HOME SELECT, we are committed to offering tailor-made support to all buyers. When necessary, we contact artisan partners for all planned renovations.

Find a contact person on site for the rental

Difficult to rent an apartment in Paris without being there: again, as an expatriate, you will have fewer facilities than a Parisian owner already there. Fortunately, solutions exist for you: if you are lucky enough to have a loved one available nearby, you can entrust this work to them. However, if you want to rent multiple times (to vacationers or for business trips, for example), this can quickly become time-consuming... And you may find yourself unable to entrust this mission to someone who already has a busy schedule.

You can always entrust the rental management of your property to a real estate agency, this is generally the most relevant solution to preserve your interests and save a maximum of time and energy. It will keep part of your rent each month, in exchange for which it will relieve you of all administrative work... You will never have to worry about an inventory or any repair.

At HOME SELECT, we can also put you in contact with a real estate agency that will manage the rental of your apartment in Paris. After possibly calling on brokers, artisans or notaries according to your needs, we are once again showing our power to adapt to all problems.