The purchase of your home is a crucial project for you and your family, allowing you to develop or consolidate your assets. Since acquiring an apartment or a house in a new development represents a significant investment, it is a project that must be well-prepared.
Let's focus on the essential steps to ensure the success of your new property investment project.
1. Define your budget and find financing
The first step when your home purchase project becomes a reality is to assess your budget.
This is the most important step as it allows you to determine the next steps in your home acquisition process. You need to know your maximum budget:
- Calculate your personal contribution
- Calculate your debt ratio. This is your maximum repayment capacity, usually set at 35% of your income by banks.
- Research the financial aid you may be eligible for, depending on your profile.
- Consult various banks for the best mortgage rates. Seeking help from a loan broker can also be wise to compare banks and save you time.
Your total budget should cover your home purchase and the associated notary fees.
2. Find the home that suits you
Once your budget is established, you can start looking for your dream home.
Begin by identifying the criteria for your search:
- Which geographical area? What location: city center or suburban?
- What type of apartment? How many rooms do you need? What size?
- What exposure?
- What features do you need? A garage? Outdoor space?
Remember, when buying a new property, you have the advantage of customizing your home according to your preferences (materials, colors, etc.).
3. Sign the reservation contract
When purchasing a new property, you are making an off-plan purchase (VEFA). Your property is chosen from a plan.
To finalize the reservation of your apartment, you need to:
- Sign the reservation contract that describes the apartment and the acquisition terms
- Sign the residence description
- Sign the plans related to your reservation
- Sign the modified work agreement
- Pay a 5% deposit of the sale price
In return, the developer must provide you with proof of having subscribed to an external guarantee that ensures the completion of the construction or, if necessary, reimbursement of payments already made.
Your apartment is officially reserved at the end of this step.
4. Finalize your financing
After signing the reservation contract, if you require a mortgage, you have three months to complete your process and provide us with your loan approval. Once the loan offer is accepted, simply send us a loan approval document so we can proceed to the next step: signing the final contract.
5. Sign the final sale contract
The final sale contract (VEFA) is signed with a notary.
You will receive by registered mail at your home:
- The draft of the final sale contract
- The plan of your apartment
- The final description of the residence
- A copy of the condominium rules and the division regulations
You will have one month to share any comments. A date will be set for the signing of the final contract.
6. Payment for your home
From the signing of the final contract, you will start paying for your home in installments based on the construction progress. You will release the funds following the payment schedule outlined in the sales contract. Thus, you gradually become the owner as the construction progresses.
7. Customize your home
This step takes place throughout your acquisition depending on the level of customization and the progress of construction at the time of your purchase, as outlined in the modified work agreement you signed.
If you reserved your home early in the sales process, before construction started, you have more flexibility to make numerous changes (walls, electricity, etc.) after approval by our design office and your acceptance of the modified quote.
You will choose your tiles and flooring from our range or directly with our supplier for any other choice.
8. Delivery of your home
A tentative delivery date will be communicated to you during your purchase. A partition inspection will be conducted at the completion of the partitions to verify the compliance of your apartment with your plan and any modifications requested. During this visit, you will also be able to take exact measurements for your kitchen and finalize your project with your kitchen designer.
The delivery corresponds to the day you receive your keys. You will finally take possession of your home. This delivery includes a detailed inspection of your home to check its compliance with our contractual commitments.
You plan to invest in new?
Casasola is your trusted partner to invest in resort in Haute-Savoie: Les Gets; Chamonix-Mont-Blanc, Domancy, ...
Check out our announcements or contact us to discuss your project with our teams.
We will be happy to provide you with advice and solutions to make your project a success!
