Property tax and mortgage insurance
You can be a candidate for the purchase of real estate without paying much more than a tenant for housing, except the property tax and mortgage insurance.
The equation therefore consists of matching the monthly installments of mortgage loans with the amount of rent . What are the consequences on the duration of the loan? Our study in 7 very different cities, for a 3-room apartment of 75 square meters.
13 to 16 years to finance a T3
A real estate price around 1000 € / m²: this is how we welcome you in the middle-sized cities of central France. An apartment of 75 m² in Roanne is trading at 72 000 €, which places it at 525 € per month on the rental market. The price in Bourges remains under the € 100,000 (€ 580 rent) for the same property. In Roanne, with a contribution of € 7,500 to cover notary fees, a mortgage of € 72,000 for monthly payments of about € 520 is repaid in 13 years according to a simulation of credit immo Credit Guide , with a rate of 1.10% excluding insurance. In Bourges, with a mortgage of € 96,000 over 16 years, monthly payments amount to € 586 and the rate to 1.35% excluding insurance. Add 9 000 € notary fees to finance your property in the capital of Berry.
A purchase spread over 20 and 23 years
From one end to the other of the Hexagon, Lorient and Montpellier share the proximity with the sea. The first one faces the ocean and displays a price of the real estate of 1800 € / m² for a house 3 rooms, accessible with a real estate loan of 132 000 € over 20 years (1.60% excluding insurance) to stick to the amount of rent (675 € per month). The second radiates the beaches of Herault, with a strong appeal making it the 7th city of France with nearly 280 000 inhabitants. Logically the price of real estate is higher (more than 2700 € / m² on average), which is true for an apartment of 75 m² (205 000 €). It takes a mortgage of 23 years (1.60% excluding insurance) to match the amount of rent (950 €).
From Bordeaux to Paris, plan a contribution!
If the property prices rose in Gironde Pessac for a home (almost 3,400 € / m²), there is even more to the heart of Paris for an apartment in the 13th arrondissement (8500 € / m² on average ). If it takes a budget of 252,000 m² to afford a pavilion close to Bordeaux, the amount explodes in the capital for housing equivalent area (638 000 €). In both cases, a 30-year mortgage is not enough to match the monthly payments to a rent of € 825 in Pessac and € 1920 in Paris. It is therefore necessary to provide a contribution of over € 80,000 in the Gironde and about € 230,000 in the 13 th (notary fees included).