Owning your own home is not a dream reserved for young people in their thirties. Quite the opposite: one in ten French people make their first real estate purchase after 50 years. That’s the finding of a study conducted by SeLoger and broker Empruntis for JDD on “primitive seniors,” those first-time buyers over the age of 50. The main reason to start: the evolution of their personal situation. “It is often life events that lead to the first purchase, including divorce or rearrangement of familiesCecile Rockellor, director of studies at Empruntis, explains. Others benefited from official housing, or were arriving for professional reasons. »
Some also decide that their financial situation has changed, thanks to the inheritance.
The special south
Once the move is made, 16% of them are ready to change territory, instead of 8% for all first-time buyers. Therefore, they prefer sunny areas, primarily the cities of Nouvelle-Aquitaine and Provence-Alpes-Côte d’Azur: We have observed this phenomenon for many years. This category prefers the sun, the sea and the quality of life.Cecile Rockellor explains. “A lot of people over 50 come to buy from us, Adds Thierry Dianflon, director of five Guy Hockey agencies in the Basque Country. Mostly people who have left the area for their work and who are going back into retirement. »
In the Basque Country as elsewhere, these future buyers prefer smaller cities: 37% want to settle in cities with a population of 2,000 to 20,000. Only 8% in cities with more than 100,000 inhabitants (instead of 23% and 18% respectively for other first-time buyers). If calm in the smallest of cities undoubtedly affects the scales, SeLoger spokeswoman Barbara Castillo Rico discovers one more reason: “The study reveals that one in five first-time people is considering a project in a price range of less than €100,000, while among other categories of first-time buyers, this ratio is 1 in 20. This tight budget explains why they are more attracted to small towns. , where prices are more reasonable than in the big cities. »
As with any real estate purchase, the issue of purchase price is fundamental. But it arises more after the fifties, when the conditions for obtaining a loan became more and more restrictive and expensive. If the elderly for the first time have accumulated capital, then almost 70% of them are still considering getting a loan. “From the age of 50, the borrower’s insurance will really complicate access to the property, Cecile Rockellor confirms. Often, seniors can borrow at lower rates because the tenure is shorter. But it is insurance that costs the most, due to frequent health problems. »
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As a result, 42% of first-time seniors said they were concerned about getting their loans, rather than 32% among all buyers. On average, they borrow approximately €195,000 over 16 years and 7 months. These problems reinforce year after year, as the buyer approaches retirement age, and income declines. “The ideal is to finish repaying his loan in 70-75 years. Borrowing after the age of 65 becomes very difficult”Cecile Rockellor warns.
But getting credit isn’t impossible either, far from it. “First-time seniors remain profiles that inspire confidence in banks. This group has a banking history and has thought about its project, The specialist is reassured. And they are interesting to bankers, because they represent, for example, investment opportunities. »