Who has never dreamed of living in a castle? What if living the castle life was more than just an expression? With the combined drop in prices and interest rates, it’s the right time to let yourself be tempted if you are really passionate about it.
With a rich history dating back thousands of years, France has more than 40,000 castles on its territory. While some are in need of renovation, others have already undergone several renovations. A godsend for buyers looking for rare and prestigious properties! The luxury real estate market offers superb stately French chateau for sale at a cheap price. Discover the advantages of this investment and the different solutions available to you to become a chateau owner in France!
Chateau in the French Real Estate Market
In the real estate market, the term “chateau” or “castle” has a much broader meaning than the strict historical definition, which considers that a feudal residence without walls, towers, or drawbridges is not a castle. When it comes to real estate, there is not only one type of castle but several categories of castles.
In France, some castles are classified as Historic Monuments (MH) or in the supplementary inventory of Historic Monuments (ISMH); others are rather manors, mansions, seigneurial estates, or real castles. In all cases, they are properties built in the various historical times of the Middle Ages, Renaissance, 17th and 18th centuries, according to the techniques and know-how of the time.
Buying a Chateau in France: is it worth it?
Every year in France, about 400 castles change their ownership. However, this purchase is not the most profitable investment: buyers generally do not make a significant return on a castle because, even if market prices have fallen in recent years, the operation involves considerable annual maintenance costs.
Buying a castle must therefore be above all an enthusiast’s approach. The castle is a property preferred by lovers of beautiful stones or lovers of history and architectural heritage.
Although relatively profitable, the purchase of a castle offers several advantages to buyers who choose to take on such an adventure:
- To benefit from attractive pricing: The decrease in real estate prices caused by the numerous economic fluctuations has strongly contributed to the current costs of the French chateau for sale.
- To have the opportunity to restore and maintain a prestigious property that is part of the history of the magnificent architecture of the human being.
- To be able to live in the heart of an exceptional estate; a building of character with outstanding facilities and a unique style.
- Benefit from advantageous tax deductions, since all renovation work is tax-deductible if:
– The castle is a historical monument;
– The castle is located in a Protected Area or in a zone of protection of the urban or landscape architectural heritage.
Therefore, if you decide to buy a French chateau, try to find out firstly in advance about the many financial incentives offered by the government. Tax measures such as the law of 1913, provide for a tax reduction in the context of the preservation of classified historical monuments. If the modifications you are considering do not alter the integrity of the listed building, these aids are still valid to assist you in the renovation and maintenance of the castle.
- Make your investment profitable: By opting for the acquisition of a castle, you can make your income after renovation profitable in several ways. Some people keep the authenticity of the place and take advantage of it through paid guided tours, public visits, and, in certain cases, to establish a commercial activity in the case of a wine estate, for example, or bed and breakfast;
Others have succeeded in transforming these exceptional buildings into guest houses and receiving customers in search of a historical universe. By developing your creativity in the design of the castle’s rooms, you can also make it available to the public to organize important ceremonies such as weddings, birthdays, or baptisms. Some castles have also been used in the making of certain film scenes.
For More Information: Vendome International Property is at your service:
If you would like to know more about this particular investment in real estate, discover the castle for sale and let yourself be guided in this atypical universe. You can contact Vendome International Property, a real estate office specializing in French properties.