finance

[gabby]

There seems to be so many differing opinions on the real cost of french living,at the risk of being direct,could some kind person already resident give their opinion on the likely chances of our financial survival in France.Though i,m ready to go now (i pay a kings ransom for horse livery here!!) My husband is ex military and constantly plans for the worst which seems to be delaying our move.  

Our situation would be: no mortgage,small farm house (6 acres), gite,3 kids (senior school,(2) french speaking), 3 horses(competitive, eventing/show jumping) 15 mins from town with all facilities.

 Finances: index linked pension of 23,000 euros.

Savings:£40,000

Many thanks

 

[Lizzie15]

I think basically you have to ask yourself- could you survive in Uk on £15,000 -to make it a level playing field you have to imagine you have no mortgage there either. The costs here are swings and roundabouts- you may get several replies but basically there isn't that much difference in the costs between the 2 countries. Good luck however it goes

 

[Wicce]

Message in your Inbox, Gabby.

 

Mary

[Nearly Retired (I am now)]

If it helps the two of us with a smaller house, less land, no horses, no kids may retire here in a year or three. We've done the numbers several times and I think 15000 euros a year income before tax would be very tight indeed.

[Nearly Retired (I am now)]

Er, I meant £15000.

[Eslier]

Gabby, I expect in your heart you already know the honest answer but you'll probably need to put a few things down on paper to get it straight in your mind.

Firstly, how much will it cost to "run" your horses. There's feed, hay, electricty/heating in the stable, vets fees, running a vehicle big enough to tow the horse box, maintaining and replacing tackle, and probably lots of other things I haven't thought of but you will. My guess is that this alone will make a huge dent in your 23,000€ pa.

Secondly, do you honestly think you will be able to move into your property without dipping into your savings to carry out "essential" work. Many people find that they spend far more on their properties than they initially budget for. There's a big difference between what is acceptable as a holiday home and what you will accept to live in. Don't forget also to budget for your moving expenses.

Thirdly, how much do you expect to make from running your gite. One gite on its own, without a swimming pool, is unlikely to nett you more than about 8,000€ per year (after running costs, advertising, tax etc.) and maybe a lot less.

Fourthly, remember that you will still have all those boring bills to pay for that you have in the UK. Electricty, telephone, heating, rates (tax fonciere / habitation) rubbish colection, water, kids etc. You are unlikely to feed your family for less than you do in the UK but you should find that you can eat better and more healthily for the same amount of money. (Better allow a decent budget for wine though !).

Finally, consider being in a situation wether you have to live on a very tight budget and make some sacrifices. You may be happy with that but what will your children make of it ? When they come home and tell you that all their class is going on a skiing trip wit the school, will you be able to afford to allow your kids to go ?

If you can answer all these things honestly and still feel you can make a success of it then go for your dream. Good luck.

[BJSLIV]

As others have said it is best to assume that the cost of living is a swings and roundabouts affair. So if you are able to manage on the pension in the UK you would probably be equally hard up in France.

One example. You would probably want to to up the state health cover with a mutuelle or similar policy. However this policy and the contribution to the state scheme would  probably be no more than any private cover you already have in the UK.