1. Do not exceed the market price...

Now that inflation all but non-existent, buying an overvalued home is a bad move because it will be difficult to absorb this initial extra cost. Therefore, find out what the going rate is in the area you have chosen for the type of dwelling - or land - that you are looking for: talk to the neighbours, compare advertisements from different sources, contact the organisations present in some towns or regions that keep in touch with the housing market, and buy specialist magazines.

2. Take the surroundings into account

These days, the area around the dwelling, or the land on which you intend to build, is a major consideration when it comes to establishing the price.

• Identify possible sources of nuisance, both noise and smells, and check for nearby businesses, factories or farms which might cause a nuisance.

• Think about day-to-day facilities; what services are available nearby? Is the area well served by public transport? Is it easy to park? Do the immediate surroundings include any parks or gardens, which are particularly important when it comes to adding value?

3. Don't forget about changes you may make in the future...

• Since 15 September, the VAT rate has been reduced from 19.6% to 5.5% on any work carried out in dwellings over two years old. This applies to both a main residence and a second home, a dwelling bought for renting, a barn, etc.

• This decrease also applies to the materials used, providing you use the services of a company to do the work.

• It applies to improvements, conversions and fit outs and also to small and large-scale maintenance work required to keep the premises in good condition (except of course cleaning). But it does not apply to building, re-building or extension work.

• Also excluded are spending on luxuries (such as a jacuzzi or sauna), garden maintenance and major installations such as a lift (except where installed for use by the disabled), shared heating systems and shared oil and gas tanks (but the work to fit these major installations will qualify for VAT at 5.5%).

4. Choose your apartment block carefully...

A small shared residence consisting of low-rise blocks is more sought-after than a large one. A big plus is the availability of an individual locked garage, as opposed to just a car port. Other little "pluses" worth looking out for: the existence of a private storage area on the ground floor; an interphone system (these days the norm); a security guard employed for the block or residence; the presence of green areas and, in southern parts, a shared swimming pool (but find out about the costs involved). In an building of three floors or more, the absence of a lift is a negative.

5. Favour well-designed dwellings with a good aspect.

If your home has these qualities it will keep its value.

• A home with a good aspect (south or south-west facing) with a balcony, terrace or loggia, or preferably a garden, scores extra.

• These days the trend is for large living rooms, and a small kitchen is a major disadvantage, unless the use of space is particularly clever.

• Other negative points: the presence of other houses directly opposite, the lack of a view and north facing aspect.