Is your dream to open a guesthouse in a pretty corner of Europe? Meet one couple who are doing just that in France – Brexit or no Brexit!
Article written by The Overseas Guides Company
Tracie and Mark Sharp were halfway through a property in purchase in France when the UK voted to leave the European Union, but the prospect of Brexit has done nothing to dampen the couple’s plans to start a new life across the Channel.
The Sharps, from Whiteley in Hampshire, are planning to move to the pretty Limousin region, where they are buying a property to run as a chambre d’hôte. They found their French home, which is in the picturesque town of Peyrat-le-Château next to a lake, in May 2016, and are due to complete in September 2016.
“We didn’t think Brexit would really affect us too much – despite a lot of scare stories, there were no real facts about what could happen” commented Tracie. “We are not worried about what could happen – we’re pretty laid-back.”
There is, however, one effect of the Referendum that the couple could have done without. “The exchange rate going down following the voting result has meant that I have to carry on working in the UK for at least another 18 months, as we’ve lost a lot of money with the rates falling, which we need for refurbishing our property in France,” said Tracie.
There is one way the Sharps could have protected themselves against the fall in Sterling’s value after the ‘Leave’ vote. Once they had agreed to purchase in May and before the Referendum in June, they could have forward purchased the required amount of euros for completion through Smart Currency Exchange . This way the price of their French property would have been fixed for them in Sterling, as well as euros. To find out more, visit the Currency Zone.
France, with its enticing lifestyle, is nothing new to Tracie and Mark, who have three children between them, the youngest being 17. From their home in the UK, they run a business called French Carp Adventures, which organises fishing trips to a lake in Brittany.
“Mark has been a regular visitor to France for some 13 years – he loves everything about France and its culture,” continued Tracie. “I’ve been visiting myself for the past eight years – I love the pace of life and the people, not forgetting the food and wine! Mark used to be a head chef and I’ve got many years’ experience in the hospitality industry, so we plan to open a chambre d’hôte. We’ve always wanted to do this.”
Location played an important part when the Sharps were deciding where to buy. “We were looking for a town location in an area with established tourism and all amenities close by,” continued Tracie. “Lake Vassivière is only four kilometres away, plus there is a fishing lake right on our doorstep. The pretty town on Eymoutiers is also only a 10-minute drive away too. Overall, it’s a great area for cyclists, ramblers, anglers and even house-hunters.”
The Sharps must feel like they’ve bagged themselves a bargain. They’re paying €54,000 for their French property. Located in a square, the 300-year-old four-bedroom house was used as a holiday home by the vendor.
“We managed to knock €10,000 off the asking price,” continued Tracy. “It will cost around €18,000 to refurbish and restore to how we want it, but it’s liveable now and had the electrics sorted around two years ago. Our plan is to convert the attic into a living room/bedroom area for us. We’re hoping to have everything done by June 2017.”
Limousin, in central France, is known for its green, rolling countryside, sleepy medieval villages, laid-back rural lifestyle and picturesque lakes. It includes the Millevaches Regional Natural Park, within which is Lake Vassivière, one of France’s largest manmade lakes with a handful of sandy beaches, making it a popular place for water sports and swimming. A smaller lake at Bujaleuf is equally popular with bathers, while a bit further south is Treignac, also with its own Lake Vezere.
Limousin’s most convenient airport is at Limoges, served by a number of low-cost carriers, although many British homeowners drive there from the UK. Tempted by a property in Limousin, somewhere near Lake Vassivière? This charming, renovated three-bedroom farmhouse in the Eymoutiers area could tick all the boxes. Oozing authentic features, it comes with a barn and 1,600-sq-metre garden. For more details, click on the photo.
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If you’re considering an overseas property purchase in 2016 or later in the future, whether for lifestyle or investment, opening a no-obligation account with FCA-authorised Smart Currency Exchange will enable you to benefit from their competitive exchange rates and specialist currency knowledge, ultimately saving you money and time. For more information, download Smart Currency Exchange’s free report or visit the Currency Zone.