Buying, step by step
Buying a new build off-plan in France.
A new apartment in Dijon, delivered in two years, with lower buying costs: here is how off-plan buying works.
Contents
Buying off-plan, vente en l'état futur d'achèvement or VEFA, means buying a home before it is built. The law frames each step, from the reservation to the handover.
The reservation contract
You first sign a reservation contract with the developer. The deposit is limited by law: at most 5% of the price if the sale is signed within a year, 2% within two years, nothing beyond. As a private buyer, you have the 10-day cooling-off period.
Staged payments set by law
You pay as the building progresses, with caps set by law: up to 35% when the foundations are finished, 70% when the building is weather-tight, 95% when it is completed, and the balance at handover.
Lower buying costs
The notaire's costs on a new build are much lower than on an existing home, around 2 to 3% of the price, because the price already includes VAT. The new homes follow the current environmental standard, which helps the bills.
The handover and the builders' liability
At handover, you walk through the home and note any defect in writing. Then the builder is liable for a year for the defects reported, two years for the equipment, and ten years for the structure, the décennale liability. Keep every document.
How I help
I compare new builds with existing apartments for my buyers, with the real prices of both, so the choice is made on numbers. I work in English and French every day. I also speak Hindi, Urdu and Punjabi fluently, Persian (Farsi) very well, and good Greek and Arabic.
Frequently asked questions
How much deposit for an off-plan reservation?
At most 5% if the sale is signed within a year, 2% within two years, and nothing beyond.
When do I pay for an off-plan home?
In stages, capped by law: 35% at the foundations, 70% when weather-tight, 95% at completion, the balance at handover.
Are the notaire's costs lower for a new build?
Yes, around 2 to 3% of the price instead of 7 to 8% for an existing home.
What if there are defects after handover?
Report them in writing: the builder is liable one year for reported defects, two years for equipment and ten years for the structure.