You too could own property in France like us
We have been visiting France since 1996. So far we have visited around 20 times and every time we return we feel like we reach a new level of appreciation for this historic country. We are 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. We 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. Spending around $150,000 AUD will get you a larger property or one in a popular region ($250,000 will get you a nice French home and a bit more a villa, manor house or even castle!). Don't believe it, well it's true ... we have done it (three times).
Now what if we told you that these houses can be rented out so they pay for themselves (with at least around a 5% return) and to make it interesting, foreigners can borrow money from French banks at lesser interest rates than in Australia (subject to borrowing criteria being met). In addition, French property can be negatively geared just like domestic properties. That is right - the possibility of not only owning your dream house in France but it could be an investment property for you as well. Even better is that many of these places could be positively geared.
Interested! Well before you go charging off to invest your hard earned money there are a few useful tips you should know before you do this. To find out more, you can:
Note: Owning property in France does not let you live there permanently, standard residency/visa rules apply. For stays longer than 90 days for non-EU citizens, visas are required - see French embassy for more.
Sharon & David Stratford