In contrast to the UK, property in France is rather inexpensive. If you might exchange like for like, you might expect to get a house around twice the size with possibly ten times the quantity of land in France!
Naturally, lots of people don't always want to update in size and it is typically more beneficial to purchase a similar size property for a portion of the list price of their home in the UK. This surplus money can then be utilized as a savings to set up in France, and ideally retire. Way of life then ends up being the popular feature and there is cash in the bank to back this up.
The money savings don't end there. With the pound consistently stronger than the euro, more euros can be obtained when exchanging. Naturally the exchange rate does constantly vary, and depending on when you perform the exchange you can be fortunate and end up with even more euros than you formerly prepared for france property .
It is a concept to remember "your perfect currency exchange rate" and attempt to use this as a standard by which you intend to exchange at. With "steady" currencies such as the pound and euro, this method works reasonably well.
The traditional approach to move money is through your bank. The huge benefit of this method is trust; you understand your bank and you understand they will not rip you off. Or will they? Usually, when moving from an account in one country to another, you are priced estimate the rate on the area. If you agree to it and set up for your bank to transfer the money, you are then charged a cost to move (this amount differs from bank to bank).
So, the cash is sent out to your savings account in France. The bank gets your money, and after that it takes a handling cost for itself too. Not just have you paid a cost twice, however the rate you had actually initially been quoted is not the very best rate you could have got either. If you are exchanging large sums of money, the cash disappearing might be in the thousands.
What lots of people do not know is that there are business set up purely to exchange currency. It is their raison d'etre. Mainly, they offer currency exchange rate much, much better than the banks and moreover do not charge a charge to do this.
Although, obviously, not even they can see the future however they do have the capability and skills to help you in achieving the best rate possible. As it is their business, their time and effort is taken into assisting you get that rate, whereas banks do not just have the time (nor interest).
To summarize, you have actually picked a property to purchase in France, you have worked out a price (ideally conserved a few thousand there) and all that remains on the financial side of things is to sign up with a currency exchange company and save thousands more!
The area has seen arrival of new nationalities buying French property in Languedoc Roussillon area. Property buyers now for example people from Singapore, Japan, Australia and South Africa. The conventional foreign buyers in the area, English, Irish, Scottish, Belgians, Dutch and Germans are also keeping the marketplace strong.
The climate has the French buying property here as well; they tend to be relocating from Paris and the north of the nation' The strong yearly development, combined with a strong rental market, where a 4 bedroom vacation home with a pool rents for 1000 euros plus in high season, makes this area a financier's dream.