As kids, we all watched many shows and cartoons where castles represent the ultimate home. They might be the biggest symbol of power, wealth, and success. Our vision of this type of property hasn’t changed much even now when we are adults. If you have enough wealth, purchasing a castle might be a lot easier than you would think. The demand is not very high, so the prices are even considered affordable for such real estate. And since we are on the topic of castles we cannot neglect castles in Europe. They are the ultimate token of royalty and supremacy on the old continent.
Why would anyone want to buy a castle?
To some people buying a castle might seem very childish. On the other hand, for others, it would seem like a dream come true. Nothing signifies a fairytale life more than a chateau. Usually, people that are potential buyers are already multiple homeowners. This would be their at least third or even fourth home. This type of investment or purchase represents wealth, success, and dominance.
There are many castles in Europe that aren’t huge and that have a very reasonable price for such a luxurious property. Smaller castles, that are still fabulous can be bought for a starting price of 250 thousand euros. Let’s be honest, that is pocket change for those that want to be the king of their own castle.
Castles in Europe very often turn out to be major restoration projects
This part comes as a surprise. Naturally, castles in Europe are old properties that are very often in need of restoration. To many, this might seem like an additional hassle that you wouldn’t look forward to. However, many castle buyers look forward to this process. Chateaus in Europe are for the most part very old properties that were built many centuries ago. That is a familiar European real estate trend. There is only a handful of castles in Europe that have been built in this century.
Finding your perfect castle
Certainly, Europe isn’t the only place where castles can be found. They are also available in some parts of Canada, the US, and even South Africa. However, traditional castles are available for the most part only in Europe. So, if your heart is really set on buying such property be ready for intercontinental relocation. The most popular destinations for castles in Europe are Germany, Spain, England, France, and Italy. Hungary, Slovakia, and Belgium are not far behind as well.
Financing your royal home to be
Here comes the surprising part. A chateau can be bought for as low as 250 thousand euros. This might come as a shocker to some since in some regions in the US this would equal median home prices. Of course, we are talking about a small and very modest European castle. That is just the starting price. Prices tend to vary by a lot. Some impressive and very large castles in Europe cost over 15 million euros. Everything in between these prices is fair game. The price of the property will depend on the amount of land that comes with the property, location, size of the property, etc.
Keep in mind these factors when choosing one of the castles in Europe
Living in a castle sure sounds dreamy. Yet, this venture can go sideways very quickly if you don’t think it through. Don’t take your eye off the ball when it comes to the following details.
The motivation for purchasing this property
There are several reasons why people leap into such a project. One is for the personal satisfaction of having a luxurious second home. While some might look at this as an investment. You must be clear why are you taking this step. It will influence many other decisions down the line.
Have a clear budget
Purchasing your castle will not be your only expense. You will have many legal expenses to deal with, real estate agent fees, maintenance payments, etc. Have a clear budget in place before you take any steps toward browsing castles in Europe.
Choosing the location
You already know that there are many countries that house phenomenal and impressive castles. However, their location plays an important role in your buying process. Before you invest in this property make sure you are familiar with the culture of the country where the property is located. Nobody is immune to culture shocks in Europe. Living in a different culture can be a deal-breaker if you fail to fit in and adjust to it.
Get familiars with local laws and regulations
Every European country has very strict laws when it comes to outsiders purchasing properties in their country. In many countries, you must have a residential status or a green card to purchase any type of property. These rules and regulations differ from country to country. That is why it would be wise to hire not only a real estate agent to guide you through this process, but also local legal representation. You need a local legal expert that is well versed in real estate.
Restauration costs can shut down this entire process if you fail to finance them. Sometimes restoration costs can be as large as the property price. When making your budget, make sure this is factored in and accurately calculated. If you end up short when it comes to funding, you might be obligated to sell your dream property. When selling a property, not much is worst then selling real estate that is in limbo status. Not totally old, but also not completely renovated. Approach this project with caution.
Maintenance is an investment on its own
Maintaining such a large property like a castle naturally costs a lot of money. Because of the scale of the property, you will need to hire assistance. Also, because of the same problem, you will have high utility bills. All together your monthly maintenance bills might stack up to 10 thousand.
After knowing what you know now, are you ready to buy one of the many castles in Europe? If you are not sure are you cut out to live in a castle, you can always try it out and see if the shoe fits. Renting a castle can be a great start in determining are you meant to live like a royal.