There are as many articles written about buying property in France as there are people buying property in France! It is a phenomenon in its own right. Probably because France is one of the most retirement friendly, investor friendly and DINKY- and DITKY- friendly countries -- where property can still be bought for very reasonable money and growth and increase in value is almost 100% assured. In particular the SouthWest of France, here in the Perigord Dordogne, the non-French - as well as the French themselves, are streaming in to profit from the low prices, the number of available properties with potential for restoration and DYI improvements, good weather, friendly locals, diversity of interests and job opportunities and of course the very good and healthy life style. I have been writing quite a bit about Bordeaux -- the city that is undergoing a renaissance which is remarkable and wonderful, as well as about the developments that are happening in the area, where off-the-plan homes can be bought in comfortable and attractive estates.
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The Bordeaux Renaissance
Tourism and property in France
In an article by Lucy Alexander in The Times a few days ago, she writes: Posh pads that pay their way
Fancy an affordable luxury home in Bordeaux?
Buying property in France may be a costly tangle of red tape, but that doesn’t seem to deter the Britons who own more than 200,000 properties there, according to figures from Rightmove.com. France’s obvious attractions combined with low property prices would seem to be an effective analgesic for the headache induced by VAT, wealth tax, residents’ tax and legal and agency fees.If your dream is to buy and renovate a rundown farm, an element of expensive hassle is inevitable. But if you’re seeking a holiday home that doubles as an investment, France’s leaseback scheme, which offers tax breaks on the purchase of buy-to-let properties, is an attractive option. The quality of leaseback developments varies, but more luxurious ones are becoming more common as the purchasing power of the pound grows. The Canadian resort operator Intrawest has spotted a market in France, and is now building its first non-ski resort there.
She talks about the difficulty foreign buyers encounter when they come up against the tax laws, inheritance laws and wealth tax, VAT, residents' tax and red tape in general. When I bought property and moved to France, it took me an entire year, expensive legal advice, relocation advice, surveyors' reports, and much more before I finally took possession of the keys and moved in. Then I would have agreed with Ms Alexander - and the general perception of the difficulties one has to deal with in buying property in France.
However -- last month good friends of mine from Australia came to Bordeaux for one week, found an exceptional apartment to buy - with a terrace and view over the river - signed the Compromis de Vente within two hours of seeing the apartment for the first time, and all the red tape, all the papers -- every single requirement, within the next couple of days. The contract is with the notaires and the final deed of sale is expected to be signed and possession taken the first week in September. Admittedly, they did do their homework beforehand -- but -- all research was done in Australia and all over the internet, they did obtain a local bank approved loan before they came, and I did spend a little time in Bordeaux looking at the best areas and apartments that were for sale, and -- they did buy the apartment through a reputable estate agent. No doubt that helps enormously. The money that you would save on agents' commission is just not worth the energy and headaches -- and other hidden costs you would have otherwise.
If you are interested in investing in property in France, do not be put off by the red tape involved, or by the horror stories you hear from people who have come here before you. Equip yourself well with the plethora of information that is available to you about buying property in France, do your research, do your homework, make sure you have your bank behind you and you will find it is as easy as - enjoying a glass of Bordeaux wine! - Or you can of course attend one of the excellent Relocation and Orientation Courses offered right here in Château Lalinde - be it with the view to come and live in France or simply to spend your holidays in France.
You can still buy a large, lovely honey coloured stone house in the Dordogne, ---or a gorgeous two bedroomed flat with visible 600 year old oak beams and exquisite light, a balcony looking out onto the cobble-stoned streets and in a restored stone building in the heart of the old, historic quarters of Bordeaux - to let out to the thriving and growing tourist market or to use as a pied-a-terre when you visit France - and all for less than €200 000.
So -- what are you waiting for?
Two highly recommended and very good value for money Chambres d'Hotes - B&B - Bed and Breakfast in Bordeaux:
Une Chambre en Ville
Pedroni Guesthouse
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Chateau Lalinde : The perfect venue for your event
