You Can Buy a French Chateau for Less Than a Paris Apartment—but Don’t Expect the Life of a Princess
Despite the fantasy, these castles are a labour of love, require lots of upkeep and rarely appreciate in value
In France you can find castles for less than the cost of an apartment. Last year, most of the chateaus sold by French real estate agency Le Nail went for between €300,000 and 1.2 million (US$355,170 and US$1.42 million). Compare that to the average price of an 800-square-foot apartment in Paris, which is nearly $1 million.
In Nantes, a 17th century chateau with 15 rooms is listed at €1.7 million, or €2,853 per square meter. The average downtown apartment meanwhile, sells at €3,691 per square meter, about €800 more.
Why these properties are so seemingly cheap is obvious to the French: The castles are a money-suck. They demand constant repairs. The lower-priced ones are often located in isolated areas, far from the nearest train station or grocery store. They consume massive amounts of energy. And despite renovations, a chateau may still never appreciate in price, experts said.
Few of the French want a chateau. Their lack of interest is made up for by eager expats, some of whom decide to buy without realizing the pitfalls. So it’s important to have done your homework on the upkeep costs first and some you would struggle to get a mortgage for make sure you know the details before signing a compromis de vent (purchase contract) as they can commit you to the purchase
If you are looking for a mortgage in Spain, France, Portugal, Turkey or USA email mark@vci-network.com
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Blog : You Can Buy a French Chateau for Less Than a Paris Apartment—but Don’t Expect the Life of a Princess
