Best solutions to handle costs of a second home
Maintaining a garden, converting outbuildings … Due to the increase in gas and electricity bills, in addition to continuous rises in council taxes and insurance premiums, these little hobbies turn out to be expensive especially for the owner of a second home. According to Atout France, the French tourism development agency, on average around €4,000 (£3,482) a year is spent on second homes per household. And for any property located by the seaside or in the French Alps, you have to duplicate this amount! It is therefore less affordable for those on a limited budget. Have a look at some advice to reduce your bills:
– Inform yourself about grants to finance renovation works and reducing the tax you pay…
Soaring prices in real estate haven’t been kind to the most popular tourist spots, making the “Pied-à-Terre” unaffordable. Therefore it is worth looking for houses to renovate which can be purchased at better prices. But be very careful as some renovation works could cost you four times the purchasing price, in addition to the fact that in protected areas, you will be obliged to take into account punctilious town planning restrictions.
Solution: speak to the Heritage foundation which could offer you a local Petit Patrimoine label which helps with 50% of the costs regarding roofing and façade. The only condition to benefit from this advantage is for your property must be of architectural interest, and apparent from the road. It could be a mere 20th century manor for example.
– Maintaining your garden cost efficiently
In areas that see more rainfall, you have to mow the lawn every two weeks in spring/summer: the energy cost is likely to be high!
Solution: the cheapest idea is to contact a local gardener (between €15 and €18 per hour including charges). If you pay with service-employment cheques, you could save half the taxes.
– Invest in regular maintenance of your swimming pool:
Except the installation cost (€12,000 or so for a small mono hull), plan €350 for water consumption including evaporation, up to €300 for cleaners, €1,000 for the filtration robot to be replaced every 5 years and €2.500 for the replacement of the “liner” every 10 years, the transparent and waterproof cover on the pool.
Solution: it is better to carry out small maintenance regularly than a complete cleaning before the beginning of summer. Thanks to this method, your swimming pool will last a further five years!
– Current expenses:
Focus first on low-energy heating and those utilities you can reduce consumption of: water, gas, fuel, phone subscription… If your habitable surface doesn’t exceed 100sqm, try a wood-burning stove (from €1,200). This sort of unit will be paid off after five years of usage. As regards wood, it costs around €280 per year, i.e. half the price of electrical heating systems.
– Taxes:
The taxman won’t be your best friend. Make your choice wisely as different towns pay different taxes- for example in Nice, taxes amount to €2154 a year on average compared to €1761 in Menton. That’s nearly €400 difference between two towns only 32km apart, both located on the Mediterranean coastline!