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Funny how close to that we got by accident. We need to move because there will be one more of us. And we had found a place to rent.

But then we saw that, all of a sudden, it was for sale! And we were not in the flat yet so we did not feel too comfortable. I much preferred renting (hell, we probably won't even be in the same country in 10 years time...), my wife maybe swallows a little bit too easily some of the legends about housing but I tried to keep that in check.
Of course, renting in the UK is not the most pleasant situation, with the landlord able to raise the prices pretty much as he feels (that is highly regulated in France).

Anyway, we had agreed to rent it for 550 a week, which was a lot but with the nursery we had to be close to our workplace.
And we made the offer at... 480k (they were asking for 530). Which makes the rental price 5.96% of the offered price. Which they ended up accepting. So we're pretty much in the indifference zone.

On the other hand, it confirms that our Paris flat (which we failed to sell when the market just stopped) should not be worth what it would apparently sell for right now. Based on the rent (OK, maybe I could have a wee bit more but it's not too silly) it should be 260k€. And judging from the offers on the agencies (even taking 10% off) and what you read in the press it would probably go for 360k€.


Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Thu Jun 2nd, 2011 at 02:24:08 PM EST
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In countries where tenants have rights (foreign concept, I know), there tends to be a markdown if it's occupied - so you'd want to sell when between tenants.

Or not at all - as long as the operating expenses and amortisations are paid out of revenue, it's making you free money.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jun 2nd, 2011 at 03:50:07 PM EST
[ Parent ]
I know that -but there were no tenants. The owners were leaving. So AFTER agreeing to have us as tenants (but pushing back the date when they'd vacate it) they decided to try and sell it -without telling us.

A bit unsettling when you're supposed to move 3 weeks later. With a pregnant wife and the clear knowledge that your current place already isn't enough with the number of children (well, child) you currently have.

On a side note, it's a flat with a freehold.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Thu Jun 2nd, 2011 at 05:17:48 PM EST
[ Parent ]

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