Escape FROM the chateau in FRANCE, Castle buying cautionary tales
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- čas přidán 13. 12. 2023
- Having plans to buy a chateau is all well and good, but it doesn't always work out quite as you think. So watch this video, because forewarned is forearmed!
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Don't think Dick and Angel have ever had their chateau up for sale.I remember reading that the news was incorrect.
If those châteaux are "cheap", especially seen from the UK or the US, it's not through some miracle : nobody in France wants to live in them and support the renovation costs. Beside most of them are remote areas and winters are long and gloomy...
Been watching the chateau craze and now I just think it's crazy to buy such a money pit that you have to wear a jacket all throughout winter.
I see these properties and I admire them, but honestly people need to figure in 2x- 3x the cost of purchase. And one cannot be lucky and smart like Stephanie ( from Chateau Diaries) or be media savvy like the Strawbridges.
It's a money pit, for real😅!
'Escape to rural France' is bucking the trend have you seen the size of his project? You can only guess at his material costs. His putting a roof on at the moment 200k + would be my guess.
When you buy any property, you need to do proper inspections ! No matter small apt or 20 bed room Château
Should think it you are buying an old property it is a given you will have roof problem plus several other problems.😊
Depends: that last example was horror yes. You need to have at least "golden hands" Roofs from castles mostly leaking: always need to start whit a part (1 or 2 rooms) done and fast renting so you can work it out. Always reminding of broken heating and electrick for that you always need double the price in mind. If you like adventures and gambling: yust do it. If not: than dont.
Part of the problem seems to be people buying these properties with either an intent to profit from any appreciation or business opportunity. These are not usually investments but rather you’re buying a property that you couldn’t afford anywhere else…that’s the value.
2nd, people underestimate the ongoing maintenance and utility costs. People gripe about heating their 2000 sf homes only to buy 20,000 sf chateaus and can’t understand why it costs $40,000 + per year in upkeep and utilities. These are properties built by the rich for the rich and it take someone who is rich to live in one.
Coming from Stephanie's Chateau Diaries, she also speaks about how difficult it is to find workers in rural France to work on projects and that rental income from her apartment in London and the co-owners have bailed out the chateaux many times. She says it's a huge investment.
yeah, Châteaux are quite something to manage , and also taxes in France are quite high for that kind of proprieties, they are "cheap to buy" for something ;)
On the one hand you are correct people should be very careful before moving to France and buying a chateau. For lots of reasons, some of which you mentioned.
Here comes the but, at 2:26 you claim that Dick and Angel have moved back to England. I happen to be on their e-mail list and received an e-mail this morning from them to clearly shows them still living in France. Which would be why you could find no evidence of the chateau being for sale.
When purchasing a property to live in long term (rather than to do up and sell) I see little benefit in calculating the difference in property value from the present to when you purchased it. Dick and Angel have been able to offer their children a much different life than if they had stayed in England. Some things you can not put a monetary value on.
I have been living in the same home now, that I own, for the last 18 years. The only reason I need to know the value of my home is to ensure it is insured correctly and that has more to do with how much it would cost to replace it than it's actual value if we were to sell it. While it is only 100 years old it has some features that would be lost forever if they were damaged in any way.
Good point and thank for pronouncing this valuation topic. As a farmer and former finance pro, I always try to calculate a sales price taking in account the "use scenario = what you can earn with the property" against the always high renovation effort. Usually a reasonable price according to my scheme tends to be 1/10 of call prices. Final sales price of such an "old chateau" then should range between 1/4 - 1/3 of call price. Why? Simply as these old properties were once built by entire huge families with big labor-force when labor was available and cheap. Then pls calculate your realistic net income out of such a property ... thus most of these "chateaux" should range between 10- 50 K + 2- 5 € per m² of surrounding land... all the best with your chateau- projects!
Hi Dan. Thank you for the Story. Sounds like champagne taste with beer money.
It does!
It’s the mustache that did it. Great gimmick, plus he’s a charted engineer 😂😂😂😂😂😂😂😂
Hi Dan, really live your videos and the content. What can you tell me about the Nievres area? Its in Bourgogne
To be perfectly honest, I know more about the Western half of France
Wgats wring ???
Isn't England full of historic homes that need to be saved, why go to France?
I believe it is, but not the same prices though
Please tell us what you think about the "escape to rural france" youtube channel and Dans work on chateau Chaumont?
🤣🤣🤣🤣🤣
Wow… so nasty!
They were my neighbours, not very nice people.