First purchase at 27: a 38 sqm two-room flat in the 20th for 310,000 euros for a young engineer

A 27-year-old engineer, a first-time buyer, purchased his first flat in Paris: a 38 sqm two-room flat in the Jourdain neighbourhood of the 20th arrondissement, for 310,000 euros, or 8,158 euros/sqm. The Home Select property hunter negotiated it 6.1% below the listed price of 330,000 euros. The mission lasted five weeks.

Mission summary

• Property hunter: Home Select
• Area: Paris 20th, Jourdain neighbourhood
• Property type: two-room flat, 2nd floor without a lift
• Budget: 340,000 euros
• Negotiated price: 310,000 euros (listed at 330,000 euros)
• Surface area: 38 sqm (Carrez law)
• Search duration: 5 weeks
• Buyer profile: IT engineer, 27 years old, single, permanent contract

Can you buy a Paris two-room flat on a single salary at 27?

Yes: 3,400 euros net a month and a 55,000 euro deposit were enough for a 38 sqm two-room flat bought at 310,000 euros in the 20th. With no co-borrower, the margin rests on two things, a deposit above 15% of the price and an area chosen for its price per sqm.

Raphaël, an engineer on a permanent contract at a tech company in Boulogne-Billancourt, was renting a room in a flatshare in the 11th arrondissement for 750 euros a month. On a net salary of 3,400 euros and with a deposit of 55,000 euros built from a family gift and four years of saving, he wanted to buy his first property: a two-room flat that would build wealth while cutting his monthly housing costs.

Raphaël knew little of the Parisian property market. His first attempts alone had discouraged him: misleading listings, properties gone before the viewing, and the difficulty of judging a flat’s real condition. A friend who had used Home Select for his own purchase suggested he turn to a property hunter.

Why steer Raphaël towards Jourdain, a neighbourhood he had not considered?

Because its DVF median is 8,400 euros/sqm against 10,000 euros/sqm in the 11th, 16% less for the same budget. Home Select set out the strengths of the Jourdain neighbourhood: village atmosphere, local shops, Parc de Belleville a few steps away, line 11 metro 3 minutes away.

The brief was set to the budget: a two-room flat of 35 to 42 sqm, lower or middle floor, since he did not need a lift, in good condition or needing only light works, in a healthy co-ownership. The property hunter set up daily monitoring and called on partner agents in the neighbourhood. Over five weeks seven properties were shortlisted, five viewed and two kept for viewings with Raphaël.

What was kept in this 1900 suburban-style two-room flat?

A 38 sqm flat on the 2nd floor without a lift, in average condition, in a healthy co-ownership with no major works voted and monthly charges of 90 euros. The refresh was costed at 8,000 euros, a figure that then underpinned the negotiation.

The flat sits on the 2nd floor of a 1900 suburban-style building, without a lift, on a quiet street in Jourdain. It has a bright 18 sqm living room with two street-facing windows, an 11 sqm courtyard-facing bedroom, quiet, a separate 5 sqm kitchen and a shower room with WC. Ceiling height 2.80 m, original parquet, roller shutters.

The property was in average condition: tired paintwork, a functional but dated kitchen, an adequate shower room. The property hunter put the refresh budget at 8,000 euros for a full repaint and minor repairs. The building was well kept, with renovated common areas and no major works voted. Monthly charges of 90 euros were very reasonable.

How did the Jourdain two-room flat fall from 330,000 to 310,000 euros?

Through an offer at 300,000 euros and a deal at 310,000, a 20,000 euro saving and 6.1% off the listed price. The price per sqm falls from 8,684 to 8,158 euros, below the DVF median for a two-room flat in the 20th (8,300 euros/sqm).

The listed price was 330,000 euros, or 8,684 euros/sqm, above the median for the 20th for a 2nd floor without a lift. The property hunter put in an offer at 300,000 euros, arguing from the works needed, the lack of a lift, and recent transactions on the same street, where a similar two-room flat had sold at 7,900 euros/sqm two months earlier according to DVF data.

The seller, who had already turned down a low offer from an investor, warmed to Raphaël’s profile: a motivated young professional keen to settle in the neighbourhood. Agreement came at 310,000 euros, a saving of 20,000 euros. For Raphaël, this cut his monthly loan payment by 95 euros over 25 years.

Why did checking the co-ownership minutes rule out three properties?

Because a façade renovation voted at the general assembly at 12,000 euros per unit would on its own have cancelled more than half the negotiation later achieved. Three properties were pulled from the shortlist on that ground, before the client ever saw them.

The property hunter also supports first-time buyers on small budgets. Professional expertise is not reserved for large budgets. For a first-time buyer the pitfalls are more numerous, from fragile co-ownerships to hidden defects and overpricing, and the cost of a mistake is proportionally heavier. The property hunter spared Raphaël three problematic properties ruled out after analysis, including one with a façade renovation of 12,000 euros per unit voted at the general assembly. This kind of check is second nature to an experienced property hunter.

Widening the search perimeter creates opportunities. Raphaël had not considered the 20th arrondissement. By walking him through the Jourdain neighbourhood, the property hunter opened up a market where his budget bought a proper, bright two-room flat, where the 11th would have confined him to a dark studio. Detailed knowledge of each arrondissement is a decisive advantage.

Every euro negotiated counts when the budget is tight. The 20,000 euros saved came to 36% of Raphaël’s initial deposit. Spread over a 25-year loan, they cut the monthly payment by 95 euros, making the project more comfortable. This is why preparing the mortgage in advance and negotiating rigorously are the two pillars of a successful first purchase.

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