Clé France

Question: Dear Sir/Madam, I will be very grateful if you can explain to me the possibility of buying properties which need full repair, repair them and put them on the market for sale again, I spend a long time going through your website and there are many properties but the problem is with the right area and properties in good condition stay on the market for a long time and not selling. Could you please direct me and your advice are appreciated.

Thank you. Best Regards, Dave G.

Answer: Hi Dave, sorry for the delay in replying, I have just returned from holiday, now a long distant memory and back to work!

What you suggest is certainly possible and I know of many people that have done this and still do it. In terms of re-selling the lower value properties tend to move quicker so a typical rural 2 bed cottage with garden for resale value around 50K or so is the best target renovation project and depending on how much work you want to do you can pick up barns for 5K sometimes or ‘projects’ from anything around 10K to 30K+ etc.

The capital gains tax you will have to pay to ‘turn-over’ the projects quickly is based on the profit you make on the sale of course unless you live in each project full time during the renovations and claim it as your principal residence and therefore not subject to capital gains. Or if you really want to make a good living then you could register as a business with the activity 'Marchand de Biens’ which is basically a property developer.

I worked as a 'Maitre d’Oeuvre’ in the Pays de la Loire region of France for 12 years from 2001, basically a Project Manager renovating properties for clients and I did 5 of my own properties during that time, so it is possible to do and rewarding however I would offer a few words of caution!

Buying a run down barn or house, renovating it over time and re-selling it is not as profitable as it is in the UK where in general property prices are higher and the demand is greater. In France in my experience the margin of profit is very small in terms of the amount you tend to spend on materials and specialist artisans such as Plumbers and Electricians perhaps added to the capital outlay for the building itself tends to add up to just a little less than the final value of the property.

Going for grander sized projects would give more scope for profit but the downside is that they take longer to sell.

So in summery I know people who have made a living doing what you are suggesting but I don’t know http any of them have become very rich from the activity but if earning a living doing what you like doing is for you then the lifestyle in rural France and the experience of renovating old properties is not a bad life to lead.

Hope this helps and stay in touch, Many thanks David.

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For everything you need to know about French property visit www.clefrance.co.uk

Hi Sharon,

We would like to Thank you and your fabulous team for making the whole experience a total pleasure!
Your agent helped us from start to finish she even went the extra mile in the day of signing by helping us to find the water meter and setting up our new contract.

We found you all to be very helpful and would thoroughly recommend anyone wishing to purchase a property in France to use your services.

From a very happy Mr and Mrs Carter.

Psst - Have you seen our new "Meet the Team" page?

Buying a Chateau, Manor House, Farmhouse, Cottage, Holiday Home, Lake or just a Plot of land in France is easy with Cle France, You can do the same, it is easy for you because WE guide YOU through the French Property Buying Process from the very start to completion and beyond!

And as several of our clients say "Follow your heart and make the move"!

For everything you need to know about French property visit www.clefrance.co.uk

Hi David,

I'm certainly happy to say it has been a really good experience with the support of a great team enabling us to make the process as smooth as possible.

Just the really hard part to go now, getting some building contractors to undertake the necessary renovation work.

Best wishes, Antony.

Psst - Have you seen our new "Meet the Team" page?

Buying a Chateau, Manor House, Farmhouse, Cottage, Holiday Home, Lake or just a Plot of land in France is easy with Cle France, You can do the same, it is easy for you because WE guide YOU through the French Property Buying Process from the very start to completion and beyond!

And as several of our clients say "Follow your heart and make the move"!

For everything you need to know about French property visit www.clefrance.co.uk

Hi There Sharon,

If I could give 1000% I would. The total experience was superb from start to final completion through everyone involved with Cle France.

I can only say that you cannot improve on excellence!

Best Wishes & Kind Regards,

KAREN AND ALAN WALKER.

Buying a Chateau, Manor House, Farmhouse, Cottage, Holiday Home, Lake or just a Plot of land in France is easy with Cle France, You can do the same, it is easy for you because WE guide YOU through the French Property Buying Process from the very start to completion and beyond!

And as several of our clients say "Follow your heart and make the move"!

For everything you need to know about French property visit www.clefrance.co.uk

Today's Currency Market Focus

GBP: White knuckle ride
EUR: Staying out of trouble 
USD: Right said Fed 

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GBP: White knuckle ride

As we warned earlier this week, the Pound’s short-term rally was at risk of Brexit developments. The government has now revealed its no-deal plans and it was enough to spook the markets.

We note from bookmakers that the odds of a no-deal outcome stand at 60% - coincidentally what Liam Fox claimed it was last week.

There is of course hope that both sides buckle as the deadline approaches and a compromise can be reached. But it’s looking like a white-knuckle ride. Needless to say the uncertainty is not doing UK businesses or the Pound any favours.

EUR: Staying out of trouble

Lately the Euro’s moves have been largely dictated by events elsewhere. Yesterday was a case in point with the latest Brexit news and Fed minutes overshadowing the EU economic news.

Despite the lull, the Euro still remains vulnerable to external shocks as there’s a number of risk events lingering in the background.

USD: Right said Fed

Despite President Trump saying he was “not thrilled” with the Fed raising rates, the latest minutes revealed the committee is undeterred and that a September hike is looking likely.

The news was enough to put an end to the Dollar’s five day losing streak.

Meanwhile there’s been little news from trade talks between the US and China. Instead, the media has been focused on the payment scandal involving Trump’s former lawyer. Analysts are speculating that the President will not want to concede any ground on trade while he’s dealing with the fall-out.

Today we have Durable Goods Orders and a speech from Fed Chairman, Jerome Powell. Perhaps it’s not as interesting as anything to do with Stormy Daniels or Russian election conspiracies, but nevertheless it’s important for Dollar direction.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Friday 24th August 2018 at 16:15

£1.00 GBP = 1.1057 EURO

£1.00 GBP = 1.2860 USD

£1.00 GBP = 1.7531 AUD

£1.00 GBP = 1.92824 NZD

£1.00 GBP = 1.6763 CAD

£1.00 GBP = 18.3761 ZAR

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Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

For everything you need to know about French property visit www.clefrance.co.uk