House valuation

[MAD87]

50% of what we see needs nearly a total interior renovation and often exterior to boot.
Never have understood home owners who do not take care of their property.

One person's 'total interior renovation needed' may be another's perfect decor. We haven't touched the 50s regency-striped-with-roses wallpaper in the loos, nor the fake graffiti wallpaper in my office, nor the original floor tiles in the kitchen. The only major expenses have been a new boiler, shower and stairwell. The latter was done by a pro who charged 5k to strip and paint it. This is our 3rd house in France and I wore myself out in the previous 2. OH interprets DIY as "do it yourself, dear".
The negligent homeowner could be a widow in her 70s/80s who's happily lived with the decor all her life. Or the owner may not be able to afford the cost.
It isn't like England, where special paints/furnishings and following trends is almost a badge of honour.

[Veem]

I'm not certain if Lori intends us to read 'renovating' as reconstructing or redecorating. I daresay if someone were to buy our place they might well wish to redecorate (change colour schemes etc) or renew fittings (update en suites or even kitchen) which don't suit their tastes. But I wouldn't refer to that as a renovation, more as someone making the place their own. Surely that's something everyone expects to have to do to some degree?

[Lori]

Have a heart, Lori! Given the eye-watering price of bricolage materials in France, and the ever-increasing cost of employing a good artisan, is it any wonder that so many French houses aren't very well maintained? Add in the French attitude that DIY is work, not pleasure, and all is explained

I'm sure you are right about the costs, etc. In the case of the houses we have seen, only one was owned by an older retired couple. Several were rented and tenants destroyed them, several others were couples (not old) divorcing, again others were being sold by very successful local professionals (again not old).

All but a handful of the houses we have seen have not been updated interior wise since they were built. Short of a couple of really old village houses, most were built between 1960 and 1990. Many were not built with good quality fixtures (floors, doors, electrical and plumbing fittings, etc.). So, a kitchen and bathroom that has not been updated in any way for 62 years and most likely the rest of the house that old is going to need a lot of work. Yes, that is my opinion. Of course there will always be someone who likes the old look or is willing to spend the large sum of money needed to update it.

These are houses approaching the 400,000€ mark, on average around 120m2 habitable with, on average, 500 to 900m2 of terrain.

[Bayleaf]

Better not come and see our 300+ year old Perigordine farmhouse then! It's a mish-mash of what has, and hasn't been done over the 18 years we've owned it. As much as we'd love to see it all finished (although there is a certain charm to some things that can be left unfinished), finances and ill health has thwarted us from finishing our dream home to make it "perfect".

But we love it, warts and all. If ever it were sold, there would be plenty for the new owners to do to enable it to "make it their own".

[tagh]

There is some evidence in the French press that the housing market is slowing down as mortgage rates seem to be rising.
But there is not much round here at all to buy anyway and the small new build estates seem to be snapped up pretty quickly.
Folk seem to favour small villages like mine at the moment as they have a better environment for kids. Most of those who have bought are young.
Whether the oil price will change things remains to be seen.
Good to know that your house is appreciating though.

[Lori]

I should add that several of the houses we have seen have had rather startling DPE's. One was riddled with asbestos interior and exterior. That one also happened to be a repossesed home, with manys structural cracks asking 350,000€ (it's still on the market).

Another one had a huge dependance that had an asbestos ceiling and needed every room inside the house 'redecorated/updated. It also needed a new heating system installed (asking 360,000€). It too is still on the market.

Another had massive electrical fittings that were not up to code or up to safe operation (per DPE). Sadly, this was a nice house interior wise. However, it only had 380m2 of terrain and the layout did not allow a pool to be built. It was also located directly on a heavily traveled road and was mitoyenne on one side in one of the lessor attractive villages (asking 360,000€). Still on the market, but dropped the price to 330,000€.

Another was built into a hill and had slipped. There was obvious structural damage to the foundation and throughout the interior and exterior walls and roofline.

These are just a drop in the bucket of what we are seeing.

If we want something with only moderate 'redecorating' requirements, at this point, we need to be in the minimum 450,000€ and up price point. This department was not like this 2 years ago. Prices have gone wild.

[MAD87]

Well...the Vaucluse is a much sought-after area, even the French dream of living there! Location must be a huge factor in your area.

Asbestos was used in buildings extensively until relatively recently, but has to be removed and disposed of by a pro. As for electricity, most stuff is out of date after 6 months as the norms change so often.

[tagh]

Sounds as if the agents are offering you the cr*p Lori. Summer is a bad time to be looking, I reckon anyway.
Have you looked via the notaires; they sometimes have knowledge of property about to come on the market before the agents get their hands on it.

[Lori]

Yes, we have left our coordinates with several notaires.

I think, IMO, there is nothing BUT cr*p available under 375,000€ We've been tempted by a couple that were around 350,000€, but one had a partially in ground pool (not in good shape either), so we'd have to pay to have it removed, then have a new in-ground one installed. Interior of house needed minimal work. House was looked on by a neighbor. House was in a Forest Fire zone.

Other one was one we saw early on. Also, 350,000€, kitchen needed updating and upstairs would need a toilet in stalled in the shower room. Not sure if it was piscinable as it was in the village (often too much piping, etc. under ground to get a permit to dig).

[MAD87]

Perhaps widen your area of research?