How we arrived at the price of 170,000 euros
Let's be frank: most comparable village houses of the same location size (or a little less) in good condition are listed at prices that range around 120,000 and 130,000 euros. Our house is priced 50,000 euros above that figure, i.e.: at 170,000 euros.
Why is that?
The answer lies in the word "comparable". Virtually all ordinary French houses in good condition (we're not talking here about houses that need to be partially or totally renovated) will not include many of the features that have been added / incorporated in our house over the years, and if you wish to add them later (as most Americans will), the actual cost will be far, far more than the extra 50,000 euros we have added to the purchase price.
Specifically, I am talking about:
- Windows. Ordinary French windows are rarely double-glazed (although more are now than when we moved in), and never feature screens. The cost of replacing old windows with double-glazed windows is not cheap (around 1000 euros/window), especially since in a village like ours, for architectural reasons, you are forbidden to use PVC and must have them made of wood. Plus, in the summer, if you keep the windows open, insects will come in. (Not mentioning noise) Adding pullup/pulldown screens to these windows adds even more to the cost. All our windows aree made of wood, are double-glazed and come with screens.
- A/C. As is well known, the French do not have (and in some cases, do not even like) air conditioning. You will rarely find a house with a/c, and during the hot summers, even a stone house get really warm after 4 or 5 days. Reversible a/c (with a heat pump and splits) is the best solution, but depending of the size of the house ,you may be looking at installation costs in the 20,000 to 30,000 euros range.
- Attic insulation. Not all attics have been insulated and renovated. If they haven't, you will soon realize that you must have it done. If you hire a contractor to do it, you will experience the joys of dealing with French workers; if you try to do it yourself, in the best case, tax-wise, you will unable to deduct the cost of the materials from the plus-value if/when you resell your house. In any event, you're looking at another expenditure of 10,000 to 15,000 euros. Our is completely insulated and renovated.
- Furniture/Appliances. Virtually every house on the market will be unfurnished. You will have to buy furniture and appliances, a long and costly process, and some of what you purchase will not be delivered for 3 weeks. Our house is fully furnished with top-notch kitchen appliances, a top of the line adjustable bed and a few things one wouldn't think about when you buy a house, such as a water softener (the local water is very "hard") and a motorized velux.
- Energy. Our house comes with enough fuel and wood to heat it for at least a year, possibly two. That's a couple of thousands of euros in savings right there.
"We have the receipts":
We have kept receipts of all major work and purchases and here is list of the actual costs of some of the items mentioned above:
Summary:
It is clear that at a price of 170,000 euros, we are not targetting the average French buyer, who will be comfortable with the more ordinary 120,000 euros house with fewer amenities and no furniture. However, this is ideally suited for American buyers, in terms of price, comfort and convenience, whether they wish to only spend a few months (up to six on a tourist visa) there, or apply for a long-term visa and stay there permanently. The "viager libre" option makes it possible to take possession of this house with as little as US$25,000 (not counting taxes and fees). However, as I stated earlier, think not of this as an investment, but as a lifestyle choice.