How to buy in the Basque Country?

The demand for Basque real estate has almost doubled since the start of confinements. Thanks to its rich culture, stunning landscapes and alluring beaches, it's no surprise that the Basque Country has become the first choice for thousands of new property buyers. Since demand has exploded, houses for sale in the Basque Country are quite rare. Due to this large influx of new inhabitants all year round, Basque property prices have increased by 15%, and not only in Biarritz, but throughout the Basque Country.

If you are looking to buy real estate in the Basque Country in today's competitive market, you must have a strategy!

Choose the location that best suits your criteria

Prices and lifestyles in the Basque Country vary widely depending on where you are, so it's important to visit the Basque Country at least twice to get a feel for which region is right for you and your family. family.

BAB (Bayonne - Anglet - Biarritz)

You have access to large schools, shops, culture, gastronomy and beaches. Unfortunately, such a perfect lifestyle doesn't come cheap. BAB is relatively expensive compared to the Basque villages found further inland.

 

North and South Basque Country

These areas offer the best of both worlds. You are always a short drive from the hiking trails, beautiful villages and all the amenities one would need in big cities like Saint-Jean-de-Luz, Biarritz or Bayonne.

North Basque Country

  • Boucau
  • Briscous
  • Lahonce
  • Mouwar
  • St. Pierre d'Irude
  • Tarnos
  • It burned
  • urt

 

South Basque Country

  • ahetze
  • Arbonne
  • Arcangues
  • Ascain
  • Bassussarry
  • Saint Pee sur Nivelle
  • Urrugne Land
  • Ustaritz
  • Villefranque

 

Basque coast

These elegant and well-preserved villages offer stunning views of rugged coastline, pristine beaches, and small populations. However, for the most part, these places are seen primarily as vacation destinations and are filled with second homes.

  • Bidart
  • Ciboure
  • Corniche d'Urrugne
  • Guéthary
  • Hendaye
  • Saint-Jean-de-Luz

 

Determine your budget

To know your purchase budget, you will need to:

1. Calculate your debt ratio of 33%

You will not be able to take on more than 33% of your income, even if it is very high and you have a lot of money left after the monthly payment is paid.

If you have charges, a car loan, alimony, debts: these will be deducted to define your budget. It is therefore strongly recommended to pay off your debts before applying for real estate financing.

 

2. Calculate your intake

The greater the personal contribution, the more attractive the rate offered by the bank. The contribution is an element of negotiation with the banker. You can also get help from the state according to your profile

 

3. Find out about financial aid

If you are buying for the first time, you are what professionals call a first-time buyer. You are therefore certainly eligible for subsidized loans: the PTZ for a purchase in the new building or with work in the old and the loan from Action Logement.

 

4. Know the banker's conditions: the duration and the rate

Your budget will be higher if you borrow for long periods.

 

5. Calculate the costs of the purchase (notary fees and agency fees)

Notary fees

These costs are calculated on the price of the property: 7 to 8% in the old and 2 to 3% in the new. The purchase costs will be financed with your personal contribution, unless you obtain non-contribution financing from the banker.

Agency costs

Agency fees are like notary fees, a percentage of the sale price, generally around 5%.

 

In conclusion

If you are interested in buying real estate in the Basque Country, do not hesitate to contact O'Plus Immobilier to discuss it!

The creation of O'Plus Immobilier comes from the notoriety of the brand and the excellent reputation of the Brocante O'Plus, present in Anglet for nearly 30 years and from the desire to sweep up the area. traditional real estate, to dust off methods and above all to refocus on human relations. Trust, respect and honesty are key values ​​all too often flouted in this profession.

On a strong foundation of mutual trust, come and present your French real estate goals to us.