Buying real estate: budget-wise, do the math!

How much is your personal contribution?

In theory, no law requires you to fund part of your real estate purchases through a personal contribution. However, in practice, banks always condition the granting of the loan on your ability to mobilize part of your savings to pay some costs related to the process (notary fees, management fees, etc.). Overall, Guillaume Dubosq, Director of Commercial Animation at Cafpi confirms,Banks require the borrower to provide at least 10-15% of the transaction amount. This is between 20,000 and 30,000 euros to buy 200,000 euros”. As a result, review all your accounts: Booklet A, LDDS, PEA, Company Savings Plan, etc.

Our advice: ne videz pas ces derniers intégralement car, en plus de cet apport personnel, nombreux sont les établissements bancaires à exiger de leurs emprunteurs qu’ils conservent une épargne de précaution pour sal parer aux coupis durs durs (l’étrois de l’étrois), six rate).

Employee Savings Solution

It is not recommended to dive into a life insurance contract or a stock savings plan (PEA) to form your personal contribution if the process makes you lose the tax advantage associated with the longevity of these products. On the other hand, feel free to free up your employees’ savings. The purchase of a primary residence constitutes grounds for early release of a corporate savings plan, provided that such acquisition is not made through a real estate company (SCI).

Are you entitled to purchase assistance?

Depending on your resources and required accommodations (new or old, with or without work, etc.), subsidized loans and other subsidies, if needed, allow you to complete your financing. The problem: These financial reinforcements are too crowded and scattered.“There is help from the state, departments, districts, municipalities, Action Logement or even some banks”, says Sandrine Allonier, director of studies at Vousfinancer. To help you find your way, some organizations like Anil list it on their site.

Our advice: Once you have listed the help you can claim, knock on all doors even after one or more rejections:Grant criteria are not the same from one assistance to another. You may not qualify, for example, for an interest-free loan* but are entitled to a purchase bonus or a subsidized loan created within the municipality.recalls Cecile Rockellor, director of studies at Empruntis.

Two aids from Action Logement: Loan and Bonus

With a modest income, do you want to buy your main residence in the new? Action Logement, under certain conditions, offers you two bonuses:

  • The joining loan is up to 40 thousand euros.: The interest rate is 0.5% (not including insurance), and the term is limited to 25 years. To benefit from it, you must, among other things, be an employee of a non-agricultural private sector company with 10 or more employees, and have annual resources below the maximum (set for example between €37,594 and €57,357 per couple). , by geographic area).
  • Joining Bonus 10,000 EuroTo obtain it, it is necessary, among other things, to carry out a process at a controlled price (obtaining a social loan or a real solidarity lease), to be employed in the private or agricultural sector, and to have annual resources below a ceiling (fixed for example between €33,761 and €46,759 per couple, depending on geographical area).

More information about

It all depends on your income, your expenses and … you. With very few exceptions, banks are now required to reject loan applications in which the borrower’s debt ratio exceeds a certain level. In concrete terms, the amount of your future monthly mortgage payments, insurance included, and added to your recurring charges (payment of other credits, subscriptions, alimony, taxes, etc.) should be no more than 35% of the amounts you receive each month. (salaries, bonuses, rental income, etc.).

Our advice: A good strategy is not to exceed a 30% effort rating.“You need to keep some leeway in case there are unexpected expenses for which you will need extra credit, such as buying a new car if your car can no longer be used.”Cecile Rockellor explains.

What is your ability to borrow from the bank?

This varies depending on the term of the loan requested, the interest rate and your debt ratio that determines the maximum monthly payment. To get an idea of ​​how much the bank will lend you, use an online simulator.

Our advice: Carefully take the amount indicated by the simulator. The latter corresponds to the information you provided to him yourself. Especially in terms of interest rates. However, you will not know the final price until after you prepare the loan file and sign your sales agreement.


for you [reste à vivre] is it enough?

To accept your loan application, your banker will bear your expenses. Goal ? Determine if the amount remaining each month once the monthly loan repayment is not only sufficient to allow you to live properly but also to maintain your current lifestyle. In other words, to pay for your food, your various bills, your transportation, as well as your clothes and leisure activities.

Our advice: Calculate more or less accurately your monthly financial needs to determine the monthly payment ceiling that you can meet without feeling deprived.

What is your financial situation?

If the way you manage your money doesn’t in principle affect your ability to borrow, it plays a big role in your chances of getting credit. Your bank’s opinion of your ability to make your monthly payments largely depends on the state of your checking accounts. If you are exposed on a regular basis, the risk is high that he will refuse. The same is true if it is found that you have doubled your credit limits.

Our advice: To increase your chances, check your expenses in the months prior to your loan application and make sure there are no overly impulsive purchases. Additionally, if possible, settle all of your consumer loans. A healthy and calm financial situation will make it easier for you to negotiate certain terms of your loan (rate, prepayment penalties, etc.) with your bank.

The additional costs are borne by the buyer

Buying a property is not just about paying the amount requested by the seller. The buyer must pay the notary fee which is about 8% of the sale price in the old building and 3% in the new building. or the costs of collateral (mortgage, collateral, or money-lending lien) when he borrows to finance his operation. He may also be required to pay agency fees and administrative fees to the bank.