The dream of becoming a property owner is possible, even with low income.
It is the dream of many French people. 61% of tenants aspire to become owners, and, more particularly, 80% of 18-34 year olds. An ambition which, in recent months, seems to be waning given the economic situation. As credit rates are particularly high, it is difficult to be granted a loan by the bank. However, it is still possible to access property, even in the current context and while being on the minimum wage.
20% of workers earn minimum wage. However, these employees can hope to buy their house or apartment, despite their low income. With current rates, the maximum amount that can be borrowed by a couple on minimum wage is 181,275 euros. A simulation carried out based on a 25-year loan, at 4.22% (excluding insurance).
If this monthly payment of €979 does not allow you to afford great luxury in the metropolises, it does however allow you to aim for the purchase of a house with an exterior – terrace or garden – in cities where the sun shines throughout. throughout the year. Although there are certainly not many opportunities, there are many possibilities to settle down in a more than mild climate.
By cross-checking the possible loan calculated by the broker Pretto and data from the sunniest cities compiled by The Internet user, several municipalities appear attractive for settling in the sun even without too many resources. This is confirmed by the houses currently for sale on the various platforms known to all.
Unsurprisingly, they are found around the Mediterranean, between the Spanish border and Marseille. Thus, municipalities like Perpignan, and its 265 days of sunshine per year, make it possible to find properties within the budget with a terrace or garden, just like the neighboring municipality of Saint-Laurent-de-la-Salanque, even closer to the sea. Going up the coast, Béziers and the surrounding villages also appear to be an affordable area, with many offers of houses with an exterior. An area where the sun shines 283 days a year.
More inland, but just as sunny, Carcassonne and its city offer a peaceful and financially accessible setting with many possibilities. Finally, further east, if Montpellier or Nîmes are unaffordable at these prices, Avignon and its surroundings can be considered, even if houses with exteriors are fewer in this budget.
There is no question here of saying that it is easy to achieve this dream. Between the rules imposed by the bank to obtain credit and goods on the market, the road is strewn with pitfalls. However, the opportunity to sit comfortably in the sun does exist. Even when you’re on minimum wage…