We bought a house in France for $78,000 AUD
My husband, David, and I have been visiting France since 1996. So far we have visited around ten times and every time we return we feel like we reach a new level of appreciation for this historic country. I am not sure if it is the diversity of landscapes, the architecture or the food and wine, or if it is simply the feeling of escapism - but whatever it is we want more.
During our visits we have discovered what seems to be a well kept secret. Unlike Australia, France allows foreigners to purchase established houses. I know what your thinking - we have all heard about people buying old wrecks in the French countryside and biting off more renovation than they could chew. But did you know you could buy property in the centre of historic villages for less than $100,000 AUD and you can basically move-in. Don't believe it, well I know it's true ... we did it!
Now what if I told you that some of these houses can be rented out with at least a 6-7% return and to make it interesting, foreigners can borrow 80% of the purchase price from French banks at interest rates of around 5%. That is right - the possibility of cash flow positive property in irreplaceable locations and you have somewhere to stay when you visit instead of paying anywhere between $500 and $2,500 per week for accommodation each time.
Interested! Well before you go charging off to invest your hard earned money I should mention to you there are a few useful tips you should know before you do this. To find out more, you can:
If you would like to rent our property, click here for more information.