First purchase in the 20th: a thirty-something finds a 45 sqm two-room flat in Ménilmontant

Home Select helped a 32-year-old first-time buyer purchase his first flat: a 45 sqm two-room flat in Ménilmontant, in the 20th arrondissement of Paris. The Home Select property hunter found it in 5 weeks. The price was negotiated from 395,000 euros down to 365,000 euros, a saving of 30,000 euros, or 7.6%.

Mission summary

• Property hunter: Home Select
• Area: 20th arrondissement, Ménilmontant neighbourhood
• Property type: two-room flat, 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. On a stable income for four years and with savings of 80,000 euros, he wanted to put his money into a home of his own rather than keep paying rent.

He was after a two-room flat with a proper separate bedroom, in a lively, well-connected neighbourhood. The 20th appealed to him for its village atmosphere, affordable prices and proximity to the 11th, where most of his clients were.

Antoine had been searching alone for two months. Having never bought before, he felt out of his depth with the procedures: preliminary contracts, contingency clauses, diagnostics. He had let two opportunities slip through hesitation. He came to Home Select for full 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 came through in five days.

The search focused on three neighbourhoods in the 20th: Ménilmontant, Jourdain and Télégraphe. The property hunter ruled out the Gambetta area, where prices per sqm went beyond the budget for a two-room flat of 45 sqm or more. She contacted nine local agencies and set up alerts for exclusive listings in the area.

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

The property found

The third property won Antoine over at once: a 45 sqm two-room flat on the 3rd floor, rue de Ménilmontant. The flat sat on the corner of the building, giving it a dual north-east aspect. 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 made a functional whole.

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

Ménilmontant metro station on line 2 was a two-minute walk away. The Belleville market, the shops on rue Oberkampf and Parc de Belleville were all 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, which called for upgrade works; the windows to be replaced at 6,000 euros; and comparable sales in the neighbourhood, a 42 sqm two-room flat sold at 7,900 euros/sqm on rue des Cascades and a 48 sqm at 8,300 euros/sqm on rue Julien-Lacroix.

The opening offer of 350,000 euros drew a counter of 375,000 euros from the seller. The property hunter held firm, pressing the point that the E energy rating meant upgrade costs and a risk of depreciation at resale. The final agreement at 365,000 euros (8,111 euros/sqm) saved 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 thins out the competition and opens negotiation margins above 5%. The property hunter uses this lever routinely in the 20th arrondissement, where the older housing stock produces many properties rated D or E.

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

The 20th arrondissement offers the best value for money for budgets under 400,000 euros. At an average 8,000 to 9,500 euros per sqm, Ménilmontant lets you buy a proper two-room flat where the central arrondissements would offer only a studio for the same budget.

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