Hi
We are thinking of buying a second home in France and wondered what the financial implications are.
Regards Bill
If you're asking how much the property taxes are likely to be, it's impossible to answer because they vary tremendously from one commune to the next. You need to find out what the property taxes on each particular property are, before making the decision to buy. They can be anywhere from a few hundred € to several thousand € a year.
There are a few places in France that charge higher taxes on holiday homes, best avoid those.
Also, if you make improvements/extensions to the property after buying it, expect a corresponding increase in tax.
You'll have taxe d'habitation and taxe foncière to pay each year plus capital gains tax when you sell on any profit (or you need to keep it for over 30 years to escape that) ;-)
Mainly from a taxation point of view.
Hi Bill,
Maybe you should be more specific. What kind of implications are you writing about ? Purchasing costs, Maintenance costs, living in France, traveling, taxes, letting costs.
I am sure there is one "survivalist" to answer for each item.
Best
Christian