First-time buyers: everything you need to know before buying your first home

What is a first-time buyer?

A first-time buyer is anyone purchasing a property for the first time, or who has not owned their primary residence in the last two years. This status grants access to specific schemes that can significantly reduce the cost of a first purchase.

Assess your borrowing capacity before searching

Before starting property viewings, it is essential to know exactly how much you can borrow. Your net income, current outgoings, personal deposit and debt-to-income ratio are the key criteria. French banks generally apply a maximum effort rate of 35% of net income (including loan insurance).

Meeting a mortgage broker or your bank advisor early on will give you a realistic simulation and, ideally, a conditional approval that strengthens your credibility with sellers.

Schemes available to first-time buyers

Zero-rate loan (PTZ): an interest-free supplementary loan, granted subject to income conditions, for new or old properties requiring renovation. In 2025, the PTZ has been extended and remains a valuable tool for reducing overall financing costs.

Action Logement loan: if you are an employee of a company with more than 10 staff, you may be eligible for a preferential-rate loan for your primary residence.

Local authority grants: many local authorities offer additional support (grants, subsidised loans) to encourage home ownership in their area.

Reduced VAT: in certain development zones, purchasing a new-build property may attract VAT of 5.5% instead of 20%.

Key steps in your first purchase

1. Property search: define your priority criteria (size, location, transport links) and focus on properties that meet most of your needs.

2. Signing the preliminary agreement: once the offer is accepted, the agreement is binding on both parties. You have a statutory 10-day cooling-off period.

3. Obtaining the loan: you typically have 45 to 60 days to secure your loan offer. This is the time to compare bank offers or use a mortgage broker.

4. Signing the deed of sale: at the notary's office, on average 2–3 months after the preliminary agreement, you officially become a homeowner.

Costs often overlooked

First-time buyers often underestimate additional costs: notary fees (7–8% for older properties, 2–3% for new-builds), bank arrangement and guarantee fees, any renovation work, removal costs and furnishings. Build a comprehensive budget covering all these expenses.

First-time buyer looking for guidance? The LGH Patrimoine team is available to answer all your questions and help you achieve your property purchase in the best possible conditions.