One measure of the value of a French property is its ability to stand the test of time – after all a French property is a long term investment. We have identified four aspects of evaluation and are of the opinion that quality old properties can represent better investment than new.
Value of Shelter
In what ways does the property provide physical shelter for you, your family and guests. How will you live in the house? Living rooms that you live in, bedrooms that you sleep in, bathrooms you wash in and kitchens that you cook in are all aspects that contribute to the value of the home. Warmth, light, and space are all important factors for a comfortable environment in which you live. Many choose to move to France to improve the quality of their life by improving the quality of their shelter. Outbuildings, land, space, swimming pools, jacuzzi and tennis courts are all affordable luxuries in France.
Value of Position
The value of location depends not only on its physical geographical location (great view, by the sea etc.) but also it is relative to your needs and the value you give them. Market value is proportionate to the number of other people with these same preferences. For example, do you want peace and quiet and isolation or do you want to be part of a vibrant community with bars, shops, entertainment etc. Trends of desirable position change. Before the popularisation of the motor car, it was preferable to be positioned on the side of a road for ease of access. However, a busy road can seriously depreciate the value of a property owing the vast number of vehicles on our roads today. Roads can create visual, noise and air pollution.
French Property – value as an Antique
Value is based upon rarity and desirability. It is interesting to note that while the work of French cabinate makers such as Baumhauer, Lacroix, Dubois, Saunier, Leleu et Bernard Van Risenburgh would make millions of euros at auction – if they were ever to appear – we have many 17th and 18th century French châteaux – masterpieces in their own right. Built by equally talented but unknown masons, these beautiful buildings have within them many hidden treasures: carved stone staircases, ornate iron work railings and gates, panelled doors and marquetry floors, fireplaces and garden ornaments and specimen trees hundreds of years old. That is value for money! In addition, we have just sold, for example a 400 m2, 17th century “Maison de Maitre” for 320,000 € – needing restoration but what great value.
However, at one particular time a particular type of house may be highly desirable and yet at another, quite unwanted – e.g. Art Deco building are highly sought after at present but that early medieval building are not as popular because the rooms are often dark. An example may also be taken from historic cars – as values of Rolls Royce increase and Jaguar decrease at present. However, some objects are far less subject to the whims of fashion and will always remain desirable due to their rarity and comfort – like a 17 century chartreuse will always be a great place to live and a 1950′s Ferrari convertible will always be a great car to drive
Value of Quality
A modern home can also survive in the value stakes but the finish and build must shine quality from solid internal walls to quality door furniture. A very quality bathroom will age well even when out of vogue. Older homes, generally of higher build quality, will sustain the test of time. An oak framed window will outlast fourfold a new upvc double glazed unit even though it may not be quite so good an insulator. Surely the ecological cost of manufacturing the window outweighs the gain of energy efficiency.
A good slate roof will last 150 years, terracotta slowly fired in a wood oven will last for centuries – it’s modern gas fired equivalent merely decades. Oak beams found in old buildings have often been re-employed several times making real ecological sense. It’s soft wood counter parts are treated with noxious chemicals in order to stand the test of a few decades. Plasterboard paper covered partitions are a poor comparison to limestone cut from million years old seabed. This will outlast concrete blocks. In my opinion older houses are a better investment despite higher maintenance costs.
