Buy a Castle in Europe: a Dream or Reality?

Buy a Castle in Europe: a Dream or Reality?

Buyers of European castles are elderly wealthy people, as a rule, these are men who have already a certain worldview. They are owners of penthouses and villas in the coastal areas but want to buy something real, majestic and ancient. There is also a great demand from the celebrities. By the way, according to the observations of realtors, the gilded youth is absolutely indifferent to the ancient buildings. The points of purchase are different. If there is a desire, and there are no legislative restrictions, it is possible:

To organize excursions for tourist groups;

  • Arrange all sorts of events;

  • Change the historic building into a stylish hotel;

  • Some buyers are interested in the restoration and further sale of castles.

It is not possible to buy or sell a castle oneself for one simple reason – you need to know numerous nuances. After all, this is an unusual living space. Castles are classified as a special type of real estate. Therefore, the services of agents whose specialization are castles or estates are simply necessary.

However, first of all, the buyer must decide the following issues to avoid unnecessary spending in the future:

  • Know for sure what the castle is bought for – for business (excursions, hotel activities), for personal residence or for resale after restoration work;

  • Create a list of personal wishes regarding comfort;

  • It is impossible to understand that medieval castles cannot be compared with apartments, to fulfill clear requirements in terms of area, number of rooms, the presence of the lake and other things. Each building is individual, as well as the adjacent land;

  • Understanding that it is a historical site, requires the owners to be responsible and respectful.

The castle maintenance costs on average 10-40% of the price of the object. It depends on the date of construction, the general technical condition of the castle and the size of the surrounding area. A number of additional costs for agricultural activities should also be taken into account. These are the obligations assumed by the new owner who buys a castle with adjacent lands. They may be associated with the development of vineyards and wine production, herd maintenance or other economic concerns.

Despite all the legal aspects and legal restrictions, the purchase of a castle in Europe is real. They are successfully bought and sold. Many of them are purchased for reconstruction and for further use as hotels in order to take profit.

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