Victorian couple selling up in Birregurra to embrace chateau life in France
Victorian homeowners are saying au revoir to the state’s high house prices and bonjour to French chateaus, booking one-way tickets to Europe as they embark on magnifique reno projects.
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
Victorian families are saying au revoir to the state’s high-priced property market and bonjour to the romantic dream of a French chateau.
Demand for historic properties across France has rebounded among international buyers since borders reopened.
And, while navigating an overseas purchase can be daunting, the costs are stacking up for Australian buyers keen to tap into the country’s history and culture.
RELATED: Former Labor MP Tim Holding restores 235-year-old French chateau
Former Price is Right model Elise May selling Camperdown retreat
‘Australia’s future is Asian’: Chinese buyers splash $3.4bn on Aussie property
Birregurra couple Denise Pinot and her partner Brett are among a handful of Aussies making the lifestyle move from their perch in near Geelong to France.
They’ve booked one-way tickets for February after buying a fairytale 43-room, neo-gothic chateau in Londigny, in the country’s southwest, for about $2.9m (AUD).
But you don’t need to spend that much to get your hands on a historic French property, with many listed for less than Melbourne’s $917,000 median house price.
A Neo-Gothic manor house straight out of a fairytale near Nantes could be yours for the equivalent of $861,000.
The same outlay in Melbourne would get you a four-bedroom brick home in South Morang.
Those with deeper pocket can secure a restored 15th century castle with a swimming pool, equestrian facilities and a lake near Charente, less than two hours from Bordeaux for $1.6m (AUD).
Ms Pinot, a German-born massage therapist and interior designer who runs Warilda Farm and Spa in Birregurra, plans to turn her recently purchased 17ha French estate, which dates back to the 1500s, into a luxury retreat and day spa.
“It’s a beautiful chateau with stone walls and when you drive around the property it is just delightful,” she said.
“It sits at the top of a hill and if you go to the bottom of the hill and the river and look back at the chateau it looks so much like a fairytale.
“I would always say even fairies have to work to make it happen, but it is a fantastic new project for us. We always love to try and take the risk.”
Thousands of followers across the globe tuned in via the couple’s YouTube channel Selling Up & Buying a Chateau to share their 18-month search in which they toured a dozen prospective listings.
And the pair aren’t alone, following in the footsteps of former Victorian Labor minister Tim Holding who purchased the crumbling 105-room Chateau de Purnon with his fiancee Felicity Selkirk in 2020.
The pair are on a mission to preserve the heritage of the 1788 landmark in Vienne and have documented the joys and pitfalls of taking on such an epic project in Mr Holding’s recent book Chateau Reawakening.
Mr Holding said he only knew of a handful of Australians crazy enough to buy chateaus, given they generally required full-time care.
“I think the locals can understand people inheriting a chateau but they can’t understand why anyone would be stupid enough to buy one,” he said.
“But they are very grateful that we are saving it because it’s a really important part of their history.”
He said taking on such a monumentous restoration was not for the faint-hearted as they required “eye-watering” budgets and a lifetime of dedication.
“There are tens of thousands of chateaus across France that are in a terrible state, that’s one reason why they look so affordable when you look at the price,” he said.
“But the truth is these things require an enormous amount of work and investment to rescue them.”
French property is at its most affordable level in years, with Notaires de France reporting an annual price decline during the 2023 European summer.
Sales volumes slid 16 per cent in the 12 months to August, the largest decline in 10 years.
Non-resident foreigners accounted for 1.8 per cent of all transactions the previous year, when Belgians overtook the British as the biggest buyer group.
French Property News editor Karen Tait advised Australians considering buying property in France to do their homework to ensure they picked the right one.
She also recommended seeking professional advice regarding local laws such as the forced heirship system, which means you can’t leave the property to whoever you like or disinherit your children.
“Pitfalls include buying the wrong kind of property and then perhaps needing to sell up and buy something different a few years later; the associated buying costs in France are high so this can be an expensive mistake,” Ms Tait said.
“For example many people fall in love with a rural property with land and views, but in reality, when it comes to using the property, they wish they were closer to amenities.
“Buying too much land is a common pitfall and then not being able to maintain it.”
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Multiple Melbourne homes sell on Christmas Day as real estate agents turn Santa
How Bellarine equestrian centre could have tourism future
Victoria’s top 50 homes for 2023 revealed
Originally published as Victorian couple selling up in Birregurra to embrace chateau life in France
First look: New Coast shopping centre for surprise site
A long-empty site in a surprise location will be transformed into a retail showroom complex under fresh plans lodged with the council. FIND OUT WHERE
Revealed: How much rent you need to pay in every Qld suburb
Rents have increased again in 252 Queensland suburbs, reversing the brief downward trend recorded just three months ago. See how your suburb compares!