To own or not to own your home is an eternal dilemma that you always end up facing. For the majority of French people, the answer is however clear: according to INSEE, 58% of households own their main residence. Total freedom of planning, investment for its old age or inheritance for the future generation, there are many reasons to take the step of buying real estate.
But home ownership can seem complicated in some metropolises where prices are soaring and require not only high wages, but also a substantial contribution. From a purely financial point of view, the trade-off between acquisition and rental then depends above all on your savings capacity.
Settle for at least two years
This is the very young Save application. immo, specializing in calculating the costs and profitability of a real estate purchase, which examined the relevance of owning your home in the ten largest cities in France.
To do this, she reviewed the evolution of the price of an apartment over five years, the salary necessary to buy or rent a two-room apartment of around 45 m2, as well as the amortization period for acquisition costs. His conclusion? Buying a home remains more interesting than renting it out, on condition that you stay there for at least two years, or even three, in Montpellier. But it is still necessary to be able to provide a significant financial effort at the start.
Savings capacity makes the difference
According to the study by Save. immo, for example, you have to earn 2,500 euros per month in Bordeaux to become the owner of a T2 with a contribution of 10%, against monthly income of 2,100 euros to rent this type of surface. In Nice, the difference is reduced with resources of 2,450 euros per month for an acquisition, against 2,400 euros for a rental. In Marseille, the result is even surprising, since it is necessary on average to earn 1,950 euros per month to rent a 45 m2, while an income of 1,800 euros per month would convince the banks. Even in Paris, a city with exorbitant real estate, Save. immo estimates that in “11 months, the owner has already amortized all his acquisition costs”.
For Paul Duthoit, the founder of the application, the key therefore lies in savings: “We realize that being an owner requires a greater financial effort than as a tenant. But if a tenant has the capacity to save enough and wants to move in for at least two years, then they should seriously think about buying. “And the entrepreneur concludes that” we think, often wrongly, that our main residence costs us money, while it brings us a lot, even if we only receive this amount on resale. “