Showing posts with label cost of chateaus in France. Show all posts
Showing posts with label cost of chateaus in France. Show all posts

Sunday, 16 August 2015

The Mirage of Buying a French Chateau

One reoccurring article in the press worldwide 
is the allure of the possibility of purchasing a French chateau
 and the lifestyle associated with it.

  There was an escapist real estate feature last week in the Telegraph showing a classically proportioned French chateau that was the same price as a three bedroom flat in Mayfair.

Via
 The chateau located in the Dordogne with a 530 hectacre estate is listed at £10.9 million which seems a lot until you realize that 
Trafalgar Square is only one hectacre.

This chateau in France has the usual grand features 
such as a grand staircase
and an ornate jib door leading somewhere interesting.
Of course a private chapel is de rigueur darlings.
Sin and saintliness were private affairs - very pre Hello magazine.
Although a private stage less so.
But it is so Cecil Beaton weekend away don't you think?
 But just a few days ago in social media news on the  
Candian version of Buzzfeed  they featured a comparison of what you could get in France versus what you could get in Vancouver.
They compared a 27 acre estate with 9 bedrooms, 5 bathrooms 
and stables to a similar priced 2 bed 2 bath flat below 
that boasted a "European" kitchen.

CAD $1.38 million if you're asking.


A few months ago, I had also seen in the Australian media 
a big article comparing French chateaus being cheaper than flats in Sydney.  
 The 9 bedroom chateau pictured above in southwest France 
and the 3 bedroom unit in Campsie, Sydney below 
are both asking for A$ 680,000.
Both pics via
 The visuals of century old stonework versus 
1960's red brick work on an ugly modern building was explicit enough to shock any Australian.

 It seems the benchmark that house prices have gone crazy is that the median price of many homes in the first world has overtaken the cost of a chateau!

This was obviously not exclusive to the UK mentality which is obsessed with home ownership and house prices.
I have a feeling it is seeped in Anglo-Saxon roots
 therefore any country that speaks English as its main language 
will share this affliction.

I have this conversation with people who contemplate buying property in France.
It is so easy to be seduced by turrets and moats and all those features that are au fait in children's fairytales.
Even when the inside decor pics aren't 100% perfect, 
it is still an escapist setting.

It seems many people lose the same financial senses and logistical faculties especially when they go overseas to purchase their holiday home/retirement home.  
All the tough questioning that would normally through their head when buying a new dress seems to dissipate in a foreign country buying a home!
( It could be all that rose wine.)

But there are political and economic reasons to remember why property is cheap.
French politics tend to be erratic but taxes are a constant.
New levies are introduced depending on the president elect.
Property outside Paris is notoriously hard to sell.
I have seen some houses that are still for sale 4 years on!

People looking for a Georgian rectory in the U.K. would be lucky to see more than a dozen for sale in the Costwolds. It would be a quick viewing to see affordable studios in a city like Sydney or Toronto and yet there is plenty of stock of French chateaus.
 
There is even more for sale once you get to France that are not listed on the websites.
The bigger the chateau the cheaper it is too!
Well I am being a bit facetious but running costs are not to be ignored.
Many homes don't have central heating or plumbing 
 and to install these basic amenities will require patience for bureaucracy and red tape, money, and some more patience.
Via
So do be cautious about a restoration project in France.
Bureaucracy in France is not to be underestimated and 
that is even if you are fluent in French.

Of course I think a home in France would be enjoyable if done right but I think there are not as many articles about being careful and raising concern as there are in promoting the idea of the idyllic French country life.  

What doesn't get publicized as often is those who tire of the lifestyle or need to balance out their life in France with another base in a city or even another country.  Life isn't all about drinking the latest released wines by the pool and shopping at the different antique markets at a different village every day of the week.  
There are many stories about village disputes, 
some xenophobic council members being a pest, 
and lonely winters in empty hamlets that are quickly forgotten about in the lavender scented l'heure bleue pastis induced haze.

One day I may consider the option myself but 
I would consider many aspects of a move and 
not be bamboozled by false house price comparisons and someone's travel account of the fabulous time they had when they were in Provence for two weeks a few years ago!