A couple signs a preliminary agreement for an apartment rated F in the energy performance diagnosis (DPE). Six months later, they discover that the property will no longer be able to be rented out starting in 2028 without major energy renovation work. The financing was sound, they liked the neighborhood, but this regulatory constraint changes the entire equation. We see this type of situation multiplying since the timetable for banning rentals of energy-inefficient properties has been implemented.
Successfully completing a real estate project today is no longer just about finding the right property at the right price. It involves integrating rapidly changing regulatory, financial, and energy parameters.
DPE and rental bans: the criterion that many underestimate in a real estate purchase
As of January 1, 2025, properties rated G in the energy performance diagnosis can no longer be subject to new rental leases. Class F will follow in 2028, and class E in 2034. Existing leases are not automatically terminated, but any new lease is subject to these thresholds.
In practical terms, if one buys a property to rent it out, it is essential to check its energy class even before discussing financing. An apartment rated F purchased in 2026 leaves less than two years to carry out the necessary work before the regulatory deadline.
For a primary residence purchase, the constraint is different but not negligible. An energy-intensive property loses value upon resale if the next buyer considers renting it out. It is systematically recommended to budget for renovation costs from the outset of the financing plan, even when the property seems habitable as is. Specialized resources like the homepage of Expertise Maison help structure this thinking from the initial searches.
Expanded PTZ in 2026: actual conditions and limits of the financing scheme
The zero-interest loan has been expanded: it now covers the purchase of a new apartment or house throughout the territory, subject to income conditions. The scheme applies to loan offers issued until December 31, 2027, according to information published by Médicis Immobilier Neuf in September 2026.
The PTZ only finances part of the acquisition. It complements a primary loan and does not exempt one from having sufficient equity or borrowing capacity. Therefore, one must first calculate their overall debt ratio before relying on this assistance.
A point of caution: political announcements mention an extension of the PTZ beyond 2027 and an opening to young parents. These measures are not yet included in the texts. Incorporating aids that have not yet been voted into a financing plan is a real risk. One should stick to the schemes applicable at the time of signing the loan offer.
Check eligibility for the PTZ before searching for a property
The logical order is to validate eligibility for the PTZ and borrowing capacity before starting visits. Feedback varies on this point: some brokers recommend searching in parallel, but it is observed that buyers who know their exact budget negotiate better and waste less time on properties outside their budget.
Financial setup of a real estate project: the items that are often forgotten
The displayed price of a property represents only part of the actual cost. Here are the items frequently underestimated when setting up a purchase project:
- Notary fees, which represent a significant portion of the price in older properties, much more than in new ones
- The cost of loan guarantees (mortgage or surety), rarely included in initial online simulations
- Energy compliance renovation costs, which have become almost systematic for properties rated E, F, or G
- Co-ownership charges, the actual amount of which is not always clearly stated in listings
A realistic budget includes all these items from the first simulation. It is common to see projects stall after the preliminary agreement because the buyer discovers a gap between the property’s price and the total cost of the operation.
Debt ratio and remaining living expenses: two complementary indicators
Banks generally apply a debt ratio ceiling. However, this ratio does not tell the whole story. Remaining living expenses, that is, the amount available after paying monthly payments and fixed charges, determine the actual capacity to absorb an unexpected event (urgent repairs, rising charges, periods without tenants in case of investment).
It is advisable to calculate both before any bank appointment. A file that clearly presents these elements receives faster responses and often better conditions.
Choosing between old and new: what really changes on the ground
The old versus new debate often boils down to the price per square meter. On the ground, the difference lies elsewhere.
In new properties, one benefits from reduced notary fees, builder guarantees, and immediate energy compliance. In return, delivery times are longer, and the location is rarely in the city center.
In older properties, one has access to a wider variety of locations and sometimes lower entry prices. But the cost of bringing energy standards up to date can absorb the price difference with new properties, especially for those rated F or G. We have seen buyers spend as much on renovations as on the initial down payment.
- New: ten-year guarantee, DPE compliance, reduced notary fees, but long delivery times and limited location choices
- Old: location, charm, immediate availability, but potential renovations and risk of depreciation upon resale if the DPE is poor
- Renovated old: an interesting compromise if the renovations have been carried out with compliant materials and a recent DPE post-renovation
Energy audit before the purchase offer
Requesting a detailed energy audit before making an offer allows for precise estimation of the necessary work. The DPE alone provides a class but not a quote. The audit identifies priority items (insulation, heating system, ventilation) and their estimated costs, which directly feeds into the financing plan.
The real estate market in 2026 rewards buyers who master both their financial envelope and the regulatory constraints related to energy performance. A well-structured project incorporates the PTZ when applicable, anticipates the deadlines of the DPE timetable, and estimates the work before signing. It is on these three axes that the difference between a forced purchase and a controlled purchase is made today.
