Private individuals

Starting with your project: first things first

25 Oct 2018

You have already been thinking about you project, and have gathered much information. We believe it is essential starting your project, following a proven methodology to manage it. Thus validating key aspects, capitalizing on essential information, doing the right things, in the right order. By organizing your documentation, with easy access files for all the accumulated information. For what will become a big and important project, potentially a life changing one.

List your personal motivations

You have many elements that come to mind, may be many that don’t seem compatible or coherent with one another. At this stage you should really listen to yourself (all stakeholders), and list your deep motivations.
We believe that the key is to write down why you want to BUY A PROPERTY IN FRANCE, the very reasons, associated thoughts and feelings, because they will become clearer in that process.
In addition it is useful to track the evolution of those key elements also because they most probably will evolve. And they will be powerful criteria to keep in mind. And they should be anchors to help you define your project. Very often by showing you what they have, as opposed to what you really need, Estate Agents can make you lose track of you deep goals.

Having used over the years, many ways and template to analyse and rank those elements : Short/long term, Emotional/rational, … And experience has tought us that it truly comes down to few main considerations  : “Non- negotiables” and “Would love”, with a possible 3rd  “No/never”.

Buyin-property-writing-a-wish-list

Write your wish list, not just the type of property

Many key aspects aren’t just about the property. But should also be about how the global project associates with a property. And also take into account the context in which you will invest.

So build your list, which can be as long as you need it to be, taking into account all stakeholders contributions. For that we suggest that you consider the following elements. Because they should positively contribute to your brainstorming session by pin-pointing aspects that shouldn’t be forgotten.

Use this list of some key aspects

Here are some questions to contemplate

Is it a Holiday home just for you own use ? or that you want to rent ? to cover your running costs ? or to generate incomes ?
Is it a property that you want to buy with other people ? or a place where you can see yourself living once retired ?
Why buying now ? Do you want to diversify your investments ?
Have you saved enough and want to buy for the 1st time abroad ?
Have you already bought a 2nd home ?
Are you planning to sell your current home or another to finance this new project ?
Or the family is expanding, and you want to buy a property, that we will extensively use whilst the children are young and later, where you still accommodate the entire family around holidays periods.
For that specific property, are you meanly interested at the best possible return on your investment ? with a long term view ? or a more short term one ?
When and How will you come out of that investment ? by selling the property or by transferring it to your children ?
How often will you use that property ? for short stays or more longueur ones ?
How will you travel to that place ? will you fly and then rent a car  ? will you leave a car there ? Will you travel by train ? will you drive you car packed with the family, the dog and all needed gear.

Property-France-classic-villa-antibes

A villa with an establish garden ? or with a pool ?

About the type of property

To begin with, we think that it later be reassuring to have taken the time to potentially consider many areas of the French marked.  By analysing at this stage many possible options. And be and stay open, not to stick to soon to a specific scenario. Often we can influenced by stories from specific situations, that are quite different from our own. Or even by some people’s experience, positive or negative that don’t relate to what one really wants.

When you have gained insides and are ready. Then you can begin the narrow the scope according to your objectives, expectation and goals. Then you see more clearly, where you want to buy and what you want to buy.
And remember that earlier, we suggested not to close to many options without looking into it, to see if there is something for you.

Very important Tip

At this stage this is the time to consider your options, all of them. So it will take you a bit more time, but it is now or never. Because you might regret it or even worst, will suffer from a wrong initial orientation.

Link to next chapter : “A crucial phase : the financial aspects”
Link back to : The GUDE synopsis page

The team WISE STONE
contact@wise-stone.com

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