Renovation For Retirement
March 9, 2012, Courbefy, France: A renovation project can be an ideal project to help you make the most of your retirement overseas.
Dear Live and Invest Overseas Reader,
Taking on the renovation of an historic property in France has been the occupation of many a retiree from the U.K. and the U.S. The romantic appeal is undeniable, and, thinking the idea through more practically, property prices in rural France can be really cheap.
I know this because my wife, Kathleen Peddicord, is perpetually paying attention to this market.
This week, for example, she sent me a Skype message to draw my attention to a 200-square-meter property for sale in a small town in Midi-Pyrenees. It's on the market for €97,000, or about €500 a square meter. I don't know current renovation costs in this part of France, but I figure maybe €1,000 a meter, depending how fancy you renovate. That means you're looking at €1,500 a square meter all in, which is a reasonable total. Still, that translates into a total cost of €300,000, which may not fit everyone's budget. The property listing is here if you're interested.