Enjoying long weekends in the fresh air, having a little place in the sun where they can invite family and friends, collecting fabulous memories over the years, or perhaps preparing for retirement…
All the pleasure of a holiday destination at a more affordable cost
In practical terms, this dream is becoming more and more accessible as the high-speed TGV rail links bring South-Western France, the Riviera and Brittany within just a few hours’ of Paris.
In financial terms, owning a second home is a significant commitment. As well as buying the property, there are costs involved in maintenance, utility bills and insurance, even when the building isn't occupied.
However, there is a very effective way of reducing those bills: renting out your second home for a few weeks or a few months every year. So the property you choose will have to be selected with care, not only to meet your own needs, but also those of potential tenants.
In and ideal world, you choose somewhere that is:
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neither too small to accommodate a family in comfort nor so large that maintenance costs become excessive
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well located in attractive surroundings, but not too far from other attractions, like beaches or ski slopes
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well served with transport links, like motorways, rail stations and airports
Buying new-build for greater security
Buying a second home is less about investment than the desire to improve your quality of life at the same time as building a capital asset. Do bear in mind though that if you sell your second home, the capital gain you make will be taxable on a reducing scale. From the fifth year after the year in which you buy your second home, the capital gains tax rate is reduced by 10% per year. Fifteen years after purchase, there will be no capital gains tax to pay.
One very effective way of limiting maintenance costs and ensuring your second home is ready to use and requires no innovation is to buy a new-build second home. Bouygues Immobilier offers an excellent range of second homes designed and built to impeccably high standards in ideal locations.
An apartment in Saint Rémy de Provence, with private garden and views of the Alpilles mountain range. ? An apartment with a huge terrace and ocean views at Biscarosse? A prestige residence set between the beach and the golf course at Anglet? Or perhaps an apartment at Carnac in Brittany? or on the Mediterranean shore at la Grande Motte?
Could your second home be the key to foreign holidays for you?
Have you heard of home exchange networks?
The principle is simple: you lend your home to visitors from another country… and you borrow theirs.
A well-located and attractive second home is a very appealing option for the 18 million foreign tourists who visit France every year.
By joining one of these networks, you could swap your home for a week or two with a Duplex in New York, a chalet in Canada, a villa in Spain or a fisherman's cottage in Greece.
Holiday rentals
Before you consider renting out your second home to tourists for a few weeks every year, it's a good idea to take all the necessary precautions to avoid any problems later:
- If possible, have your home accredited as a “meublé de tourisme” (furnished holiday home) to give tenants greater assurance (accommodation standards, quality charter, 1- to 5-star rating, etc.). This accreditation is to be renewed every 5 years
- Draw up a proper and legally-binding rental contract. When you send it to tenants, don't sign it first… this provides you with the safeguard that they cannot change it before signing it themselves.
- Ask for a breakages/damage deposit (usually around 25% of the rental charge)
- Ask for a booking deposit or prepayment, and set out the conditions governing any refund in writing.
- Draw up a precise inventory of fixtures, fittings, furniture and appliances included
- Take care of your advertising, but without overselling your holiday home: it could be construed as misleading advertising.
- Check with your insurer that your tenants will be properly covered. If not, then take out additional insurance
