The right place according to your requirements?
Choosing the right place for you is very important and depends upon your needs/requirements. There are principally 2 possible requirements:
- Holiday home
If you are not looking for a high investment opportunity, but a holiday home, the world is your oyster. Simply pick the location you dream of.
- Investment
If you looking for an investment opportunity, then the right location is crucial as you must be aware of locations where your investment will be gaining the most in value over the years, with optimal opportunity for rentals.
- Which country:
If you require a long-term investment, France is a sensible choice as the market increase there is stable and constant. However, if you would rather opt for a short-term investment, Eastern countries would better suit your needs, although with increased risk, due to their developing status. France is a low-risk country with steadily increasing market trend and sure capital gain. Eastern countries are high risk with higher increases in market trend but also without sure capital gain.
- Which Region / Town:
The choice of the region and town is important. Are you looking to rent your property to tourists or local workers? Will you be looking to rent your investment all the year round, or would you require certain weeks for you and your family? From one region to another, the economy can change drastically. For example, if you were to choose to invest within Normandy, your focus would be better directed towards the holiday resort/tourism sector which is much higher than those of economy and employment. If Nantes would be your preferred location, a residential investment would be more advisable as Nantes has high economy and employment rates, leading to rental opportunities directed at local working people.
- Which Town / Area:
Within the same town, the interest on the investment property can vary greatly depending on area. How can you know which areas are better? Help from an agent, or local people would be invaluable as they can provide real and up-to-date information, such as prospective regeneration, etc.
- Area / Building:
What state is the building in, both inside and out? Is the area noisy, or does the property boast a disappointing view on a wall? Does the sunshine reach and warm your terraces? Are your neighbours warm and welcoming, or are they the neighbours from hell? Once again, only the locals will know the answer to such questions, so get involved in local life and make friends.
What recreational activities are you looking for?
The activities on offer in an area are important considerations when attracting people to rent your investment property. You may buy near the seaside with its? sandy beaches, encouraging summer holiday seekers, or perhaps a property in a calm and quiet local village, where people will come to relax and unwind. Maybe property within a business centre would hold more appeal.
In any case, if the property is for you and your family, you should ask just exactly what it is that attracts you? Are there organised activities for your children, or outside play areas? Will there be enough space in your new house to hold receptions and friendly gatherings, or would it be preferential to be in the close vicinity of restaurants and shopping areas.
Nearby specialised activities such as Golf, Skiing, boating, and countryside treks (by horse or foot) are highly desirable commodities for both investment and holiday homes. Are you a keen golfer who enjoys sailing, with children who would love to ride horses? According to place, price and activities available, you will find your dream home.
What about accessibility?
You might like to have a house hidden in the depths of the French country side as you enjoy taking long, solitary walks through the forest, but you may have to drive a great distance to reach there, spending a large part of your holiday travelling. An accessible home is always preferred, unless of course you really wish to immerse yourself wholeheartedly in the French culture, living in an isolated area where there will be few other British people, if any. If you plan to rent your property, it would be best if it was situated near to an airport, therefore being easily accessible and attracting more holiday-makers. As a rule, the break-even point for a holiday property is, for most travellers, within a distance of 1 hour to an airport.
You might want to look at:
- Airport
- Train
- Ferry
- Road network
- Regional and local Public transport
- Hire car
Planning the future of your investment
To increase your investment you must be aware of any other new developments which may be around yours, as these will attract more investors, sight-seers, tourism. Alternatively, if your interest is in a quiet country village, you have to know of any future plans, such as the building of a new Disneyland in the plot of land next to your house. In France, the government have the power and the right of expropriation, insisting you move from the site if they have plans to build on your land a school, etc, or if your house lies in the trajectory of a new super motorway. Understand that investors will look to take advantage of such new developments as easy access routes (motorways, airlines, etc), particular those that are inexpensive as they have the potential to transform a little coastal village into a busy holiday resort.
The only way to gain knowledge of prospective plans is through the local people, local press, or by visiting the town hall and asking for information on any potential future developments in the region.
