France oozes tired old character homes crying out to be restored, usually by Brits. But restoration projects aren’t for the faint-hearted and should be approached with caution, especially in today’s economic climate.
Richard Way, editor at the Overseas Guides Company, chats to two expats with first-hand experience…
We chose South West France
Meet Peter Friend, who has run a successful B&B in the Tarn with partner Mark for nearly four years. The couple restored their property, La Villa de Mazamet, before opening for business.
Mark and I set a goal of moving and opening our own business by 2022, the year we both turned 40. We chose South-west France thanks to its climate, extended season for guests and because it neatly combines a fantastic lifestyle with great opportunities for a tourism business.
We found and bought our property in Mazamet in late 2018, paying just under €390,000 for it and spending around €200,000 renovating it over the next three years. We continue to re-invest in new facilities for our guests each year.
I would advise anyone buying in France today to be clear about precisely why they are purchasing. Do you want a bolt hole, family home, retirement property, or like us, a business? This will dictate, to a large extent, your location. In terms of renovation projects, my biggest tip is to be completely realistic about costs, including the purchase price, extra buying taxes and fees, the renovation work and, of course, the ongoing costs of running and maintaining your property.
Don’t see your purchase and renovation as a quick investment
Don’t see your purchase and renovation as a quick investment – the market in France, as in much of Europe, is not geared towards a quick gain. Take advice early on, especially if your property in France is classified as a second home, as there is tax and inheritance exposure that can be minimised.
In terms of managing a restoration project, engage with the locals for both tradespersons and materials – it may save you a few quid bringing plasterboard from the UK, but the relationship you can foster locally will have longer term benefits. Make sure any artisan you employ is properly registered and has a SIRET number – this means he is authorised to carry out work legally and is registered.
Take advice
Ensure that you take advice about any necessary permits and building restrictions that may apply locally to your renovations – getting yourself known at your local town hall (mairie) will help smooth the whole process. The mairie has a lot of local power in France and chances are the “maire” (mayor) will be glad to assist you.
Restoration project in the Languedoc
Alexis Goldberg, author of the FranceBuyingGuide.com, is close to completing her restoration project in the Languedoc with husband Rod.
When you are looking for your property take good notes and photographs and always re-visit at least once before buying somewhere. For old rural properties, don’t forget utilities: is electricity connected and is there gas in the village? We had no gas but Gaz de France was able to connect us since it did exist in the village. Gas bottles are common in France too.
Fixing roofs can be pricey, so check there are no major structural problems. Again, our house needed pretty much complete refurbishment but it was structurally sound.
I always advise obtaining at least three quotes (devis) for any work. Ask around for recommendations and request to see previous work your artisan has done. Once you accept a devis, you need to sign it, writing “bon pour accord”, meaning you have entered into a contract with work due to start within three months. On that note, respect local traditions and if you are not living in the house, make sure you visit regularly to oversee the works or employ someone else to do so.
Finally, when you come to transfer pounds from the UK into euros in France, not only for the purchase of your property but on an ongoing basis, for example to pay for the restoration work, always use a currency exchange specialist and not your bank – we recommend Smart Currency Exchange, who publish a free useful guide about their service.
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