Buying French Property -
French property insurance and other running costs
There are on-going costs associated
with buying French property. For a 2 bed roomed
'average' home you will have to allow around £175 for french
property insurance [French holiday home insurance] and between £500
to £1500 per year, to pay for :
French Property insurance , Water usage , Electricity charges , Property
Taxes and Rates , Community fees Gas , Telephone which are the running
costs after buying French property.
FRENCH PROPERTY INSURANCE will
obviously be needed when buying French property. You will need French
holiday home insurance if your home is going to be empty for prolonged
periods. French property insurance is of course available from French
property insurance companies. You will need to fill out application
forms in French, and if you need to claim, you will need to do this
in French too.But there are companies offering policies written in
English, and where you can claim in English. Unless you are completely
fluent in French, this specialist French property insurance is very
useful.
WATER is metered when buying
French property. A typical annual amount for careful use by 3-4 people
might be £100-£150.
ELECTRICITY is also metered after
buying French property.
In a small house or flat, you could roughly expect to pay around £150-200
per year.
This does not allow for heavy use of air-conditioning, or electric heating-
both of which use a lot of power.
COMMUNITY CHARGES are payable
if you are buying French property on a development with communal
facilities. They cover upkeep of the gardens, pool maintenance, lifts,
security etc. and will depend on the number of properties between which
costs are shared, as well as the level of facilities provided.
£20 to £80 per month is a likely amount if you are buying
French property - you can find out the exact current amount before you
buy.
GAS is rarely on the mains- people
buy bottles which can be delivered, or bought at the local garage. Make
sure you obtain a certificate proving your property is suitable for
the use of gas appliances- you need this to buy the bottles. I have
not yet been asked!
The vendor , your builder or appliance fitter should be able to provide
this.
TELEPHONES are less essential
when you are buying French property in these days of the mobile 'phone-
but are billed in roughly the same way as in the UK.
If you let out your property, you can have the phone to only accept
incoming calls. Get a new contract on any any existing line- or you
may just find you have someone else's debts to pay! At least a fixed
line always has a signal - and costs a lot less for regular use.
TOP TIP
If you are going to use a mobile
phone , get a local pay as you go card in addition to your UK one- or
your calls will all be at international rates, even if you are phoning
your French neighbour.
PROPERTY TAXES are generally
less than in the UK. There are 'rates' type taxes for local services
and 'wealth taxes' paid by all non-residents, and based on property
values. Typically £150-£200 per year for 'rates' on a small
property and around £80-100 annually for the wealth tax.
RUBBISH COLLECTION is usually
part of the community charge on an estate, a few pounds a year for an
individual property.
FRENCH PROPERTY INSURANCE is
likely to be around £175-200 for buildings and contents.
TOP TIP
Direct debits from your French
bank account are invaluable for these payments.
