Cost of owning house in the Dordogne

[Hoddy]

They don't need to worry too much Sprogster. They are permanent residents in France and only go home for weddings and funerals and Brive isn't the only possibility.

I do take Pommier's point though about considering the cost of travel if you are, like me, a part-timer.

Hoddy

[ScruttonStreet]

Thank you to everyone for taking the time to answer, it is providing a lot of food for thought. I think you may be right about not renting, the only issue will be that we will probably not use it for more than a few weekends and a couple of months in a year, so seems a bit of a waste to have it lying empty.

[EuroTrash]

I think you really do need to weigh up the attractions of having a holiday home - owning a little piece of heaven and making it just how you want it with all your own bits and ends in it, and knowing it's there waiting for you - with the reality of worrying about storm and frost damage in winter, keeping the grounds tidy, paying the bills month in month out, etc. Property is a responsibility and it can turn into a bit of a millstone. There's a lot to be said for booking someone else's gite, you have the pleasure and they have the hassle. And you're not tied to the same spot every holiday.

[Cendrillon]

Euro Trash makes an excellent point and you would certainly get the variety without the responsibility.

On the plus side of owning your own place it means:

• you have your home from home waiting for you when you arrive. A little piece of heaven as E T said.
• you know where the shops and restaurants are
• you don't feel obliged to be out visiting the local sites for the whole visit,
• you will hopefully make some great friends in that holiday place

In fact you have a second  (and quite different) life!

It is not all doom and gloom! It is possible to let your place without too many worries and it is also good for the village (or wherever it is) that the house is not shuttered up for months on end.

bon courage and I hope it works for you.

[Sprogster]

If I could just add further considerations in that one of the main reasons

people give for selling their holiday home, apparently the vast majority do

within 8-10 years, is that it ties you to the same destination and after the

novelty and initial excitement wears off, you might hanker for other

destinations to holiday in. The other factor is that the poor economic

situation in France is likely to lead to a further decline in house values,

especially in rural areas according to the experts, which could make a holiday

home more difficult to sell, and the addition of social charges to gains by

foreigners selling French properties, which are not subject to tapering or allowable

as a double tax credit.

[Rabbie]

[quote user="Sprogster"]

If I could just add further considerations in that one of the main reasons

people give for selling their holiday home, apparently the vast majority do

within 8-10 years, is that it ties you to the same destination and after the

novelty and initial excitement wears off, you might hanker for other

destinations to holiday in. The other factor is that the poor economic

situation in France is likely to lead to a further decline in house values,

especially in rural areas according to the experts, which could make a holiday

home more difficult to sell, and the addition of social charges to gains by

foreigners selling French properties, which are not subject to tapering or allowable

as a double tax credit.

[/quote]

At least if property values are declining then you don't need to worry about any capital gain. Every cloud has a silver lining if you look hard enough[:)] 

[Pickles]

I would thoroughly second both ETs and Sprogster's posts. We are in the category of people who are now selling up our second home, after 11-12 years in our case.We will still make a capital gain in France when we eventually sell (and a rather bigger one in the UK due to currency fluctuations), but this is mainly because of the length of ownership and the fact that we are in a city, not the countryside - different market, though still very slow. Our charges are higher due to being in the city, and because we have a flat, we pay collective charges for heating, hot water and cold water, as well as for the general maintenance of the common parts and swimming pool. It suited us very well at the time we bought, we have made good use of it (including being able to keep in touch with work whilst in France), but now, when we look at the annual cost, it would buy an awful lot of overnights or weeks in the sorts of gites that other members here run, without the hassle. Apart from lending it to family or a very few friends, we have not rented it out for an income - even dealing with the aftermath of friends and family can be a pain. Be aware that as a property owner, the French state instinctively sees you as an income source that doesn't have a vote and which would get scant sympathy from French residents.