Buying property: the questions that really matter

We often choose a property with the heart: the light, a view, a terrace. That is legitimate, but bricks and mortar are a long-term commitment, and most regrets come from questions we forgot to ask. Here are a few of them, which apply to a main residence as much as to an investment.

Location, again and always

You can renovate a kitchen, enlarge a window or redo a bathroom; you cannot move a building. Proximity to transport, schools and shops, the quality of the street and the neighbourhood's planning projects: all of these weigh more on future value than today's decoration. It is always instructive to return at different times of day, on a weekday evening as well as a Saturday morning.

The real cost, not just the asking price

The purchase price is only part of the bill. You must add acquisition costs, any renovation work, service charges, property tax, insurance and routine maintenance. A cheap but energy-hungry or poorly maintained property can, over the years, cost more than one that was more expensive at the outset.

The condition of the building as much as that of the flat

In a co-owned building, the minutes of the latest general meetings are a mine of information: works voted or planned, façade renovation, roof, lift, any unpaid charges. An immaculate flat in a deteriorating building remains a risky bet.

Energy performance

Insulation, heating system, orientation, double glazing: these criteria affect comfort and bills and, increasingly, the ability to let or resell on good terms. The energy performance certificate deserves a careful reading rather than a quick glance at the rating obtained.

The holding horizon

How long do you intend to keep the property? Over a short period, entry costs weigh heavily and resale may come at the wrong point in the cycle. Over a long period, it is instead the quality of the location and the soundness of the building that make the difference.

Surrounding yourself well

Notary, surveyor, a tradesman to price the works, a financial adviser for the mortgage: each brings a perspective that complements your own. Taking the time to gather these opinions before signing costs little compared with what is at stake.

None of these questions is complicated; together, however, they form the best protection against a purchase you regret. This text is a general reflection and does not replace advice from a professional suited to each situation.