Joff Hatfield-Powell is the executive producer of the TV show Chateau DIY and co-author of the book Money Maker, alongside our regular appraiser and columnist Dan Hatfield’s.
Below, he reveals what he learned from producing the show and whether you should really get involved in buying a French chateau…
Investing in property is something that many This is Money readers will be all too familiar with, but did you know that you can buy a castle in France for the average price of a house in Britain?
In September 2024, the average price of a house in England was £309,000 (£8,000 more than the previous year according to the ONS) and the same amount in France could make you king or queen of your own castle.
As executive producer of Channel 4’s smash hit Chateau DIY, I’ve seen so many intrepid people invest in castles.
But while the relatively low initial outlay may sound tempting, turning this investment into profit will take more than just some effort.
Chateau DIY launched on Channel 4 in 2021 following the huge success of Escape to the Castle and Escape to the Castle DIY. Both tiles were created by Spark Media Partners, the production entity founded by Mark Baker and Steve Havers.
They, along with series director Paul Compton and head of production Helen Morrell, developed and produced the first seasons of the primetime hit and its daytime spinoff, which ran for seven and three seasons, respectively.
Kings of the castle: Terry and Ashley, two of the buyers featured in Channel 4’s Chateau DIY At Christmas, which follows more ambitious people renovating castles in France
In 2020 I worked with Channel 4 to change the daytime name to celebrate a wealth of new, brave people who have given up their lives in Britain and invested their savings in these beautiful properties.
But for anyone who’s seen the show, owning and renovating these massive properties comes at a significant cost.
So is the investment likely to give you a profitable return? The short answer is yes, but only if you’re willing to put in a lot of demanding work and even more investment when you get the keys to your castle.
In our wonderful series we have seen families buying homes for under £200,000.
The reason you can pick up such a bargain is generally due to a social shift among the French population, which in recent decades has turned to buying new-build properties that don’t involve the high maintenance costs that castles require.
Since we Brits have such a keen interest in heritage and history, it is no surprise that we have flocked to pick up a bargain in the hope that it can be turned into a profitable business and a lucrative investment at the time of future sales. .
But now the reality check. If you are lucky enough to get a French castle for the average price of a house in Britain, you will probably have to spend not only more money on the restoration of the castle, but also in man hours and hard work on the work required is. to lovingly restore these historic buildings.
Don’t get me wrong, I’ve seen people buy castles for a few hundred thousand euros and then resell them for millions – but I’ve also seen people try to renovate and invest in these castles, but they simply couldn’t keep up. the extent of work required to turn them into profitable businesses and assets.
Imposing: French castles – like this one from the upcoming series – can be beautiful and have dramatic landscapes
A lot of work: The character traits are sometimes neglected for decades
Know what you’re getting into: Most owners will need to start a business to finance the renovations
While the thought of purchasing these properties at such a low price is appealing, it means they have often been uninhabited for decades, resulting in poor insulation, damaged roofs and general neglect. It can take a lot of money and effort to restore them to something that you can make a profit from.
Anyone present and still appearing in Chateau DIY has to do most of the renovation work themselves – mainly because the cost of outsourcing the work to contractors is too expensive and would erode any profitable returns.
This work can include everything from restoring bedrooms, building event spaces, installing new bathrooms and kitchens to creating perfectly manicured formal gardens.
Often the lords of the castle have to raise money to reinvest it in further renovation work, as these enormous properties can rarely be private homes unless you have very deep pockets.
Make it work: Stephanie is one of the other buyers from Chateau DIY
To make it work, most businesses become luxury vacation rentals and weddings and events. You need to combine both the business side and the restoration side of owning these castles to make both parts work in harmony, and provide the luxurious framework for the business to generate cash to pay for further renovations.
It’s a really big ask, but if you have the business acumen and practical skills to invest in such an ambitious property renovation, it can yield a very large return on your original outlay.
And if you don’t want to sell, you can live the rest of your time as king or queen of your own castle.
The latest series Chateau DIY At Christmas, which follows more ambitious people as they renovate castles in France in time for some festive cheer, launches on Channel 4 on Monday December 16 and airs every day at 4pm that week. All seasons of Chateau DIY will be available on Channel 4’s streaming platform, with series 8 launching in 2025.
Ambitions: Tim and Krys are another couple embarking on the renovation of a French chateau
Christmas cracker: Janet and Philip will also document their French real estate journey
Five tips if you are tempted to buy a castle
• First and foremost, know your intent and the legal requirements. After Brexit, you can only spend 90 out of 180 days in a European country if you are not moving permanently.
If you retire and live in a chateau in France, you will need to prove that you have money in the bank to support your lifestyle. If you are moving to run the castle as a business, you will need to provide a business plan to prove your income and then obtain a Carte de Sejour, a 10-year visa to live and work in the country.
• If you are purchasing the castle to set up a business, you will need to register this business and get all relevant licenses and visas approved, regardless of whether you are operating the castle as a chamber d’hôte (B&B) or as an events venue.
Additionally, you should also check which liquor and food licenses may apply.
Get an Inquiry: It is critical to be aware of any hidden problems with these historic homes
Buyer beware: unlike in Britain, exchanging a property in France means the seller is contractually obliged to sell it to you
• Use a local agent on site in France to view and find the castle of your dreams.
If you are in the UK, a French agent will know the local areas and can view multiple properties for you without any travel costs.
You pay them a fee but it saves you time and money in the long run and they end up taking a commission on every property you list no matter what.
• Once you have found your dream castle, make sure you have a detailed architectural survey of the site carried out.
These historic buildings can often have a host of hidden problems that can quickly become very expensive to correct once completed.
Check the sewerage, electricity supply, roof, floor and any water damage to the building. Also make sure you know your country’s borders and whether you are entitled to enter this country.
• Unlike in the UK, once you have exchanged a property in France, the seller is contractually obliged to sell the property to you.
So before you exchange, make sure you are aware of all taxes, fees, visa requirements and licenses you will need for whatever purpose you are purchasing the castle for.
As a footnote, I also recommend learning the language for a more comfortable life in France.