Buying To Rent Out Property In France
Purchasing property for sale in France so that you can lease it out when it is not being lived in is becoming an increasingly favoured thing to do. For this to be done successfully the situation of the property is really fundamental. The property needs to be somewhere where people would want to come to. France is a very large country and consequently there are only certain sectors where tourists visit. If your house is not in a well-known area such as Brittany or Provence, it is potentially difficult to attract visitors. But, homes in less well-known areas will be less expensive and there won't be as much market competition. It is essential to come to a medium, somewhere that is not too expensive and somewhere that is relatively familiar to people. Seeking out property for sale in France needs a lot of research and resources.
Properties in urban areas are cheaper but more difficult to lease out than those in countryside areas as people are usually favour tranquillity and a bit of peace and quiet over hustle and bustle. However properties can be too rural and cut off from services which some potential clients can frown upon. Most visitors will, with any luck, return if you can impress them enough.
To generate the greatest revenue a property that accommodates between 4-5 people is ideal as it appeals to families. The larger properties are popular during the busy seasons but less so in the not so busy ones, therefore it is ideal to have a property that is big, but not too big. Obviously facilities add more to the value of the property (e.g. a swimming pool), however these facilities do incur upkeep throughout the year so be wary of this.
It is essential to have as low maintenance property as possible. Homes that are not rented out for 24 weeks of the year need to be kept dry and secure. It is ideal if you can seek out a friendly neighbour to keep an look out on the property while you are away or you could even hire someone to maintain the garden and check the property out every once in a while.
Upon purchasing a property for sale in France it is necessary to attract clients to the property. Rental prices in peak periods are a lot higher than in off peak weeks. Thus, take this onboard when you personally want to visit the property as if you are staying there in peak periods you could potentially lose a lot of revenue.
The revenue obtained from the off peak periods is likely to not be very much and the potential property for sale in France could be unhabited for weeks on end despite the price of the rent. The Internet is very helpful in researching what your competitors are charging in terms of hire, you need to find out how swell they are doing at renting out their homes at certain prices and look into the availability of the properties. It is most likely that to begin with your home will be leased out to family and friends; this is fine as it can evade the cost of promoting the property and construct awareness via word of mouth. The Internet is also a good starting place for advertising the property; anticipate to pay £110-160 per year to host an advert on a website.
Purchasing property for sale in France with the purpose of renting it out can be very rewarding. A home in the right situation can allow easy access for you and potential visitors making it very sought after. Even if you donít generate that much income, you should hopefully be able to make enough to cover the upkeep costs of the home and with a bit of luck you should be able to generate some extra revenue, this can be recycled back into improving your home, again attracting more people and making the property more desirable on the property market.
About the Author: Daniel Brudgins represents www.frenchways.co.uk, specialist at property for sale in France. If you wish to buy a property or have a French house for sale we are here to help you.