Using a currency exchange specialist can help you maximise your budget
Moving abroad? Advice from a currency exchange specialist.
When you’re thinking of moving to France, considerable research on all aspects of this move is of paramount importance – especially if purchasing a new property will be part of your plans. The excitement of buying your place in the sun can often take over, but it’s crucial to keep your feet on the ground and consider all the practicalities and plan ahead – certainly where your finances are concerned.
Smart Currency Exchange,
the UK’s only currency specialist dedicated to the overseas property industry, can help with this. Not only does it offer bank-beating exchange rates that save you up to 4% on every transfer you make – and a team of currency experts to ensure you minimise your risks and maximise your savings – but it also understands the relocation process from start to finish and can assist you along the way. Its top tips for moving to the French countryside are:
Organise your finances as early as possible
If you want to buy a property in the French countryside, it’s really important to assess your finances as soon as you can. You need to assess how you will pay for the property and budget for all the other fees on top of property price, such as mortgage or legal fees, real estate commission – and ongoing maintenance costs including utility bills and taxes.
Understand the effect of currency market fluctuations on your property and lifestyle
The currency market is live and constantly fluctuates; meaning the amount you need to spend to achieve the same amount of euros is always changing. For example, at the beginning of August, £1 could buy you €1.43; by the beginning of September, that amount had fallen to €1.36. This means that anyone wanting to buy a €250,000 property would have paid nearly £9,000 more, just by waiting a month – and that’s without factoring in the additional money to successfully purchase the property and maintain your life overseas.
Decide the right area for you
France is a huge country, with various landscapes to choose from – and even when you know you want to live in the countryside, the actual neighbourhood you choose will depend on the facilities and amenities offered there. It’s so important to assess the areas that you are interested in carefully, depending on your personal needs – looking at the climate, the healthcare and other facilities. The South West of France is one of the most common locations for British expats looking for a country life, with Verteillac and Montguyon particularly popular, thanks to the wealth of property, world famous health system and lifestyle.