Don’t be fooled. Castles are so much more expensive than you think. They are heritage sites, you are obligated to keep it well maintained. This can cost between 100k to 1m per year, or even much more depending on the state and size. Next to that you’re not allowed to insulate it or replace the windows with double glass, so you will spend thousands per year just not to freeze to death.
The reason these castles are so cheap is because the state is in poor condition and the current owner doesn’t have the funds to fix it to regulatory standards. So you can assume you will spend 5 to 10m (if not more) into it after buying it, then to have the previous mentioned yearly maintenance costs on top of that.
I know because my French branch of the family used to live in a castle.
If you fail to keep the castle in shape you can get serious fines and even lose ownership. And depending on the country, prison time.
Then there are the taxes that are not fun at all.
So when you buy one, make sure you have at least 20m ready to spend the first 1 to 5 years. But to be sure you won’t go bankrupt, better have 50m as a target as costs always end up much higher than expected. It happens a lot, people buying a castle then to go bankrupt due to the insanely high maintenance costs.
The cheap ones, mostly in France and Belgium, often are ruins or close to that state. They come with mold, wood worms and rot.
Here in the Netherlands you could live in a castle for free* (not own it). The * was that you were responsible for renovating it. The responsibilities also included the renovating costs. So you would be the staff who had to pay and work to renovate someone else’s house. Again, looks like a nice deal, living in a castle for free, until you find out what the costs actually are. It’s cheaper to rent in New York and then you won’t have to work next to your actual job.
Honestly not that different from renting in much of the US. In theory my landlord should have to pay for the repairs that aren’t my fault. In reality it’s more efficient for me to just pay out of pocket and do it myself rather than wait for him to fix it. I spent weeks without running water later summer because the well pump broke and he dinked around doing everything but replacing it (which is what needed done). I kinda like the idea that nobody “owns” a home, they just take on the responsibility of upkeep.
Yeah the social housing company I rent from works very hard to do a little as possible for their renters. I also do stuff myself out of my own pocket. But a castle is a different story, the upkeep costs far exceed my current rent haha
Don’t be fooled. Castles are so much more expensive than you think. They are heritage sites, you are obligated to keep it well maintained. This can cost between 100k to 1m per year, or even much more depending on the state and size. Next to that you’re not allowed to insulate it or replace the windows with double glass, so you will spend thousands per year just not to freeze to death.
The reason these castles are so cheap is because the state is in poor condition and the current owner doesn’t have the funds to fix it to regulatory standards. So you can assume you will spend 5 to 10m (if not more) into it after buying it, then to have the previous mentioned yearly maintenance costs on top of that.
I know because my French branch of the family used to live in a castle.
If you fail to keep the castle in shape you can get serious fines and even lose ownership. And depending on the country, prison time.
Then there are the taxes that are not fun at all.
So when you buy one, make sure you have at least 20m ready to spend the first 1 to 5 years. But to be sure you won’t go bankrupt, better have 50m as a target as costs always end up much higher than expected. It happens a lot, people buying a castle then to go bankrupt due to the insanely high maintenance costs.
I once stayed in an expensive castle hotel. It was fucking freezing. I realised then what a massive PITA castles are
Another reason billionaire’s are worthless. I know what I’d be doing with that kind of money
Probably also one of the many many reasons I would never be a billionaire… I just don’t have the heart for it
Bunch of hookers and cocain
Reference
Lmao, well played. You could’ve gone with “two chicks at the same time”, but I like your reference better
Do you have to supply your own serfs or are they included in the purchase?
The cheap ones, mostly in France and Belgium, often are ruins or close to that state. They come with mold, wood worms and rot.
Here in the Netherlands you could live in a castle for free* (not own it). The * was that you were responsible for renovating it. The responsibilities also included the renovating costs. So you would be the staff who had to pay and work to renovate someone else’s house. Again, looks like a nice deal, living in a castle for free, until you find out what the costs actually are. It’s cheaper to rent in New York and then you won’t have to work next to your actual job.
Honestly not that different from renting in much of the US. In theory my landlord should have to pay for the repairs that aren’t my fault. In reality it’s more efficient for me to just pay out of pocket and do it myself rather than wait for him to fix it. I spent weeks without running water later summer because the well pump broke and he dinked around doing everything but replacing it (which is what needed done). I kinda like the idea that nobody “owns” a home, they just take on the responsibility of upkeep.
Yeah the social housing company I rent from works very hard to do a little as possible for their renters. I also do stuff myself out of my own pocket. But a castle is a different story, the upkeep costs far exceed my current rent haha