Buying a holiday home in France

[SexNamesRFab]

I've just got back from our annual trip to France and can't get myself off French Rightmove. Is it a terrible idea to invest in a holiday home over there right now? Has anyone done it? How complicated was the process and how did you find local tradesmen?

And for those of you who'd like to dream with me... I'm looking at spending up to 60k for somewhere up to 45 mins away from the coast, with a cycle track nearby, no more than 6hrs drive from Calais, preferably with 3 bedrooms and some outside space.

Invest is certainly the wrong word to use. The exchange rate means that property in France would cost you 20% more than it would have a year ago. Anything at 60-70k€ is going to need a lot doing to it or have something seriously wrong with the location.

Don't forget you need to add on Notaires fees (€€€) to any prices. Running costs are high. You will need to pay taxe d'habitation and taxe foncière as well as standing charges for electricity and water. If you have outside space you will spend your holidays taming the garden unless you pay for a gardener.

Property is often on the market for years before it sells so you wouldn't get your money back quickly and any profit you were able to make (unlikely) would be subject to a hefty capital gains tax.

If you have over 100k burning a hole in your pocket and love France then go for it. But it is not an investment.

We did it ten years ago. Although we love the property, it was a crap financial decision. Property doesn't sell quickly in France so not easy to off-load. Running costs stack up. Having a gardener is fairly essential in my opinion, not just so that you don't spend every visit gardening, but also to maintain a 'lived in' look to potential burglars.
Local tradesmen can be hit and miss. Some are great, many are not and are just cashing in on British people who have a place that they are struggling to manage. It helps if you are fluent in french.
The buying process itself isn't particularly complicated, although seek advice on wording on the contract if you die (sorry to be morbid) as in France it is normal for children to take over ownership rather than spouse, although this can be changed at the purchase stage.

My parents have finally sold their house after it being on the market for nearly 2 years- and it sold for half what they paid originally.

The market in France is flatter than flat at the moment, so you'd probably find something along the lines of what you're looking for, but I wouldn't look at it as an investment. If you'd be happy to buy a place as a 'forever' holiday home, that you could pass down, and not depend on selling it for profit in a few years, then go for it.

If you want to buy near the sea, prices rise dramatically.
£60k right now is €60k and the exchange rate is going to be crap for the foreseeable thanks to Brexit.
When we bought our place the exchange rate was 1:1.45, now it's 1:1 you also have to add on the notaries (solicitor) and estate agents costs to the purchase price (something over 11%).
A max budget of €60k won't go far even inland if you are looking at renovated properties. The French idea of "renovated" will probably not be the same as yours! Bathrooms and kitchens can often look very dated, the insulation levels very low and central heating? Haha.
If you are builders and can buy very cheaply and do the work yourselves by having months over there, fine. If you are going to be paying architects, French artisans and not be there to supervise, I can foresee problems.
Then there are the French planning laws. Like all planning regulations they are complicated, they are different to uk ones and importantly, are in French. Just to build a 3x1 meter log store required us to send in a 6page dossier of forms and plans and photos.
In France you pay two local taxes, taxe d'habitation and taxe fonciere. These include your tv license. Don't forget your water bill and electricity.

I am not wanting to rain on your parade, we love it here, but you can't think of it as an investment in the same way as in the uk as the property market is so different.
If you are really interested, then find an area you like the look of, and rent a gite out of season and have a good look round.

I don't think it would be much good as an investment. Holiday properties tend to be money pits. You'll be maintaining 2 properties, paying 2 lots of rates, servicing 2 boilers etc.

And as people have said the fall in Sterling mean it will be more expensive buying now than 18 months ago.

However, if you're buying it for your family to get a lot of use out of over the next 20 years, and you can afford the maintenance, then go for it.

I'd look around Le Touquet, Montreuil, Dieppe - which is surprisingly nice, Rouen - charming, and Deauville.

Won't get much for 60 grand though.

Near Montreuil

As someone currently in the position of dealing with a house in France we have just acquired ( not bought), I'd say enjoy spending a fortnight or a month a year in accommodation that is someone else's headache for the other 11 months. Unless you think you'd enjoy familiarising yourself with the flabbergasting taxation system, the intricacies of French plumbing implementation and French rodent disposal techniques. Souricide is the French for mouse poison, you'll be needing that word.

We own two houses there. One is lived in and the other really should be sold but is sitting empty for most of the year instead for all the reasons listed by pp. It's certainly not an investment to buy there. If it's just for holidays I'd recommend hiring a nice rental and let the owner have all the hassle of looking after it.

That's the thing. We have a house in Italy, and while it's absolutely gorgeous it is an almighty hassle. Mice are the least of our problems - wild boar is the current issue.

Plumbing, taxation, wifi, bin collection issues all in another language.

^ reply to Boogle.

I love France BUT for the money I'd rather buy a BTL investment in the UK and use any profit on that on renting someone else's villa in France. If the thought of a BTL property in the UK sounds like hard work, don't buy somewhere in France as that will be worse!!!

Ninon- my MIL found one of those in her swimming pool in Provence. I don't envy you! Although our French mice are tiny Ninjas.

One day, when we are older we hope that we will feel glad we held onto it and will spend a few months a year there. It is beautiful. But at the beginning of a renovation project ( with Stirling in the doldrums and every tradesman in a fifty mile radius toujours en Suisse) it is the most almighty, expensive bother.

Thank you - you've all given me the sensible slap I needed. Standby for lots more dream house in London posts instead

Hi I came across your post as I would love to buy a small place in France. Did u buy in the end? Some of the problems stated might be less if it was a flat that was bought in a town with more rental potential. Just wondering also if anyone knows good agents in London for french property?

Oh I’m curious to know as well! We’ve been eyeing up something on the Italian lakes... somewhere maybe an hour or two from Milan with lake fun in summer and good skiing in winter. I guess the thing about holiday properties is they’re more for you than to make money, right? We ended up investing our extra cash in a nicer family home where we live, but when the savings build up again we might go that direction with a view to having a nice chill family holiday spot for summer and winter fun.

My parents have had a 2nd home in Southern France for approx 25 years. It’s a holiday home so has never been let out. I wouldn’t purposely buy a property as an investment however if you did maybe somewhere like Normandy would work particularly for Air BnB.

If you have watched “Escape to the Chateau” you will see how difficult it is to get tradespeople particularly affordable ones. Also one of the taxes you pay relates to how much concrete you have & can be expensive so research, research, research.

I think with brexit that it would be foolish timing. Who knows if we'll retain free movement even?

Rent somewhere for six months or a year. That way you can exit if you dont like it. Indeed if you scour AirBnB you might find somewhere where the owners will happily "time-share" with you for little more than the cost of maintenance.

Good idea

Hey,

My name is Katie and I work as an Assistant Producer on a Channel 4 series called Escape to the Chateau.

We would love to hear from you if you are looking to buy or renovate a chateau in France, Italy or Portugal.

Please message me if you are interested and we can try and help you.
[email protected]

Thanks!

Katie