If you own an apartment in France, you might one day decide that it’s the right time to sell. Some people buy property in Paris as an investment so that they can make rental income and also sell it for a profit later. Others decide to live in Paris and buy an apartment instead of renting. Whatever your reason was to buy an apartment in Paris, you now want to sell it and let someone else enjoy the property. Before you sell, there are several things you need to think about to find the right seller, sell for the best price, and get all the official stuff right.
1. Reasons to Sell Your Paris Apartment
You might not be sure yet if you want to sell your apartment in Paris. After all, having a Paris apartment is something a lot of people would love. It can provide you with lots of benefits, from giving you a home to giving you rental income from short stay people there for vacation to long-term tenants. But even though you love the apartment, there are lots of reasons to consider selling too. For example, you might sell because of one of these reasons:
• You are moving out of Paris or France
• You need a sell a property you inherited
• The apartment no longer suits your needs
• You want to release the equity from your property
These are all good reasons to sell your Paris apartment. You might do it for financial reasons or for personal reasons. Choosing to sell can sometimes be tough because you might be very attached to the property. However, if you have decided that selling is the best thing to do, finding the best estate agent to help you find the right buyers can help to make it easier to let go.
2. Is It the Right Time to Sell?
Before you put your house on the market, you should think about whether it’s the right time to sell. This is something you should think about personally, as well as in terms of how the housing market in Paris is fairing. Firstly, consider if it’s the right time to sell for you. Will you be able to spare the time to do some of the important things? While an estate agent can handle much of the sale for you, you will need to do some things yourself. For example, you will need to be in France to sign the sale documents, which might need to be signed a few months apart. If you don’t live in Paris permanently, you need time to travel.
Plus, you need to think about the housing market and whether it’s the right time to put your apartment up for sale. To do this, you need to know a little about the market and the conditions. If house prices are rising, it could be a good time to sell, or perhaps even wait a little longer. If a lot of other people are selling, however, it can mean you face a lot of competition. You need to think about what your goals are. If you just want to sell quickly, you might be happy selling for a lower price when the housing market isn’t so strong.
3. Reasons People Might Be Buying
As well as considering your reasons for selling your Paris apartment, it can be useful to think about why people might be buying. This can help you to choose the right time to sell and to know who might be looking at your apartment. Some of them might be permanent residents of Paris, while others want to buy property to let. Are they going to be using Booking.com and TripAdvisor to list the property as holiday accommodation, or are they thinking about moving to France long term? Some of the reasons people might be looking for a Paris apartment include:
• People moving to or within France looking for a permanent home
• Investors who want property to rent to long term tenants
• Investors who want to buy in France for short term stays
• Tourists or business people who want a permanent base for frequent Paris trips
• Parents looking to buy for students
• People intending to be a live-in landlord and have either lodgers or short term guests
4. Where People Want to Buy
It’s also a good idea to be aware of where people want to buy property in Paris. Of course, you can’t change where your apartment is. However, you can know where people are currently buying and how that might affect your sale. The popular places in Paris can change, and different suburbs and arrondissements will have more sales and purchases at different times. It’s also important to keep in mind that buyers with different aims won’t necessarily look at the same areas. Someone buying a property as a short term holiday let might want somewhere near the Eiffel Tower or somewhere cheap near the Champs Elysées. A business person could be looking for a city centre property. Frequent visitors to Paris might want to have an apartment near Disneyland.
One of the first things people think about when they’re looking for somewhere to buy is which arrondissement is best. When you market your property, you can think about emphasising the benefits of some of these regions:
• 5th arrondissement – on the left bank of the Seine, it’s known for its Quartier Latin, where you can find universities, colleges, and prestigious schools. If you’re selling in this area, you could target students (or, rather their parents).
• 6th arrondissement – home to the historic Saint Germain district, as well as others, it’s a great place for history lovers. Try aiming for people who want a holiday home or investors who will be buying a property to rent out.
• 7th arrondissement – this district is home to the well-heeled, so you’re surely looking to get a good price for your apartment. You might be selling to investors or wealthy Paris residents.
• 16th arrondissement – full of museums, parks and beautiful buildings, this area is a good choice for a cultural vacation.
• 18th arrondissement – Montmartre is the main attraction of this district. It’s important to highlight it if you’re selling a property here.
5. Why You Should Use an Estate Agent
If you have decided to sell your Paris property, you might be wondering whether to sell privately or use an estate agent. If you’re selling in Paris, it’s likely that your apartment is valuable. So getting a helping hand from professional real estate agents is the best course of action. Estate agents can reach more people than you are likely to on your own. They can use a number of different channels to market your property, and they have the tools to make your Paris apartment look as attractive as possible.
Here are some of the reasons to use an estate agent:
• They can handle all the official paperwork and legal matters
• They can advertise your property in a variety of places online and offline
• They can arrange viewings when it’s convenient, even if you’re not there
• They can help with property staging and taking professional photographs
• They know how to promote the best things about your apartment
6. What to Highlight
As well as the location of your apartment, there are some things you can make sure that you let potential buyers know about your Paris property. There are lots of benefits people will look for, so it’s important to promote the right things. Of course, your estate agent will help you with this, but you might find yourself speaking to buyers when they view your apartment. You can mention things such as:
• Amenities within the building, like a doorman, swimming pool or gym
• Benefits of the apartment, such as a parking space – it can be difficult to buy an apartment in Paris with parking
• Nearby amenities, from schools and public transport to restaurants and bars
• Rental income – any potential or current income to be made from the apartment
• Notable views or nearby monuments
7. Preparing Your Paris Apartment for Sale
Before you sell your apartment, you need to make sure it’s ready to sell. Even if your apartment is in good condition, there are still some changes that could make a difference. For example, if you have decorated, it is sometimes helpful to make things more neutral. However, showing the character of your apartment is useful too. Some people choose to stage their apartment so that it presents the perfect image. You can do this yourself or use a home staging service to do it for you.
8. Who You Need to Inform About the Sale
Don’t forget about all the legal necessities when you sell your apartment in Paris. Your estate agent can help you with much of this. Because you’re selling an apartment, you might need to tell the owner of the building that you are selling your property. It’s also important that you advertise the surface area of your apartment so that buyers know exactly how much space there is.
Sell your apartment in Paris using an estate agent so that you can make the most of the sale.