Nick is the owner of Newton and Sinclair, a successful investment business based in the UK. Nick has always been interested in investing in property and expanding his business overseas. So, when he decided to purchase a property in France, he knew it would be a steep learning curve.
Nick’s first hurdle was the language barrier. While he had taken some basic French lessons, he realised that he needed a French-speaking assistant to help him navigate the legal and administrative aspects of buying property in France. He was fortunate to find a reliable and knowledgeable assistant who helped him with everything from communicating with the sellers to understanding the local property laws.
Another challenge was understanding the French property market. Nick had to research extensively to understand the various areas and property types available. He also had to factor in the local demand and supply, as well as the rental potential of the property.
One of the biggest advantages of buying property in France was the relatively low property prices compared to other European countries. Nick was able to purchase a beautiful property at a reasonable price, which he later rented out to tourists.
However, there were also some drawbacks. Nick found that the administrative process of purchasing property in France was lengthy and complex. He also had to pay a lot of fees and taxes, including the notorious “notaire fees” which can add up to around 7-8% of the property price.
Despite these challenges, Nick was pleased with his investment in French property. He found that the rental returns were high, with an average yield of around 6-8% per year. He also enjoyed the lifestyle benefits of having a property in France, such as the beautiful scenery, the excellent food, and the friendly locals.
In conclusion, Nick’s experience of buying property in France was a steep learning curve, but ultimately a rewarding one. He was able to overcome the language and administrative barriers with the help of a French-speaking assistant, and he found that the rental returns were high. While there were some drawbacks, he believes that the pros outweighed the cons, and he would recommend investing in French property to others.
