First purchase in the 20th: a thirty-something finds a 45 sqm 2-bedroom apartment in Menilmontant

Home Select assisted a 32-year-old first-time buyer in purchasing his first apartment: a 45 sqm 2-bedroom in Menilmontant, in the 20th arrondissement of Paris. The Home Select property hunter found the property in 5 weeks. The price was negotiated from 395,000 euros down to 365,000 euros, a saving of 30,000 euros (7.6%).

Mission summary

• Property hunter: Home Select
• Area: 20th arrondissement, Menilmontant neighbourhood
• Property type: 2-bedroom apartment, 45 sqm
• Initial budget: 400,000 euros
• Listed price: 395,000 euros
• Purchase price: 365,000 euros (-7.6%)
• Search duration: 5 weeks
• Buyer profile: First-time buyer, 32 years old, freelance web developer, tenant in the 10th

The project

Antoine, a freelance web developer, was renting a 22 sqm studio in the 10th arrondissement for 950 euros/month. With a stable income for four years and savings of 80,000 euros, he wanted to invest in his primary residence rather than continue paying rent.

His main criterion: a 2-bedroom apartment with a proper separate bedroom, in a lively and well-connected neighbourhood. The 20th arrondissement appealed to him for its village atmosphere, affordable prices and proximity to the 11th where most of his clients were located.

Antoine had been searching on his own for two months. Having never purchased before, he felt overwhelmed by the procedures: preliminary contracts, contingency clauses, diagnostics. He had let two opportunities slip by through hesitation. He contacted Home Select for comprehensive support.

The search strategy

The Home Select property hunter first secured the financial side. With savings of 80,000 euros and a loan of 320,000 euros over 25 years at 3.3%, the total budget of 400,000 euros was solid. The financing certificate was obtained in five days.

The search focused on three neighbourhoods in the 20th: Menilmontant, Jourdain and Telegraphe. The property hunter ruled out the Gambetta area, where prices per sqm exceeded the budget for a 45 sqm+ 2-bedroom. She contacted nine local agencies and activated alerts for exclusive listings in the area.

Over four weeks, six properties were shortlisted. Three viewings were arranged. The first had a recurring damp problem on the ground floor. The second, a 5th floor without a lift, was ruled out after the co-ownership minutes revealed a lift installation project at 15,000 euros per unit.

The property found

The third property won Antoine over immediately. A 45 sqm 2-bedroom on the 3rd floor, Rue de Menilmontant. The apartment occupied the corner of the building, giving it double north-east exposure. The 20 sqm living room, the 14 sqm bedroom closed off by a solid partition, the 6 sqm fitted kitchen and the bathroom renovated in 2020 formed a functional whole.

The 1910 stone and brick building had 18 units. Co-ownership charges were 160 euros/month. The facade had been renovated in 2018. The E energy rating was the only weak point, but replacing the single-glazed windows with double glazing (estimated at 6,000 euros) would bring it up to a D rating.

Menilmontant metro station (line 2) was a two-minute walk away. The Belleville market, the shops on Rue Oberkampf and Parc de Belleville were all accessible within ten minutes.

The negotiation

The property had been on the market for 38 days at 395,000 euros, or 8,778 euros/sqm. The property hunter built the negotiation on three points: the E energy rating (requiring upgrade works), the windows to be replaced (6,000 euros), and comparable sales in the neighbourhood: a 42 sqm 2-bedroom sold at 7,900 euros/sqm on Rue des Cascades and a 48 sqm at 8,300 euros/sqm on Rue Julien-Lacroix.

The initial offer of 350,000 euros was received by the seller, who proposed 375,000 euros. The property hunter held her position, emphasising that the E energy rating implied upgrade costs and a risk of depreciation at resale. The final agreement at 365,000 euros (8,111 euros/sqm) represented a saving of 30,000 euros, enough to fund the window replacement and the refresh.

What this mission illustrates

The energy rating is a powerful negotiation lever for first-time buyers. An E or F rating scares off many buyers, which reduces competition and opens negotiation margins above 5%. The property hunter systematically uses this lever in the 20th arrondissement, where the older housing stock generates many properties with D-E energy ratings.

Supporting a first-time buyer goes beyond finding the property. Antoine benefited from comprehensive guidance: financial structuring, analysis of co-ownership minutes, verification of diagnostics, and presence at the key stages of the preliminary contract. For a first purchase, this safeguarding prevents costly mistakes.

The 20th arrondissement offers the best value for money for budgets under 400,000 euros. With an average price per sqm of 8,000 to 9,500 euros, the Menilmontant neighbourhood allows you to buy a proper 2-bedroom where central arrondissements would only offer a studio for the same budget.

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