Many are attracted to buying a Gite complex by the lifestyle associated with owning a gite. Lazy days in the French sun supping a glass wine or two sitting around a pool – that will do me fine! After years of 9 to 5 and hours spent on the daily commute it appears to be an attractive option.
At 1st-for-French-Property we have seen a significant increase in the number of enquiries for this type of property over the last few years. Without doubt Gite complexes often look beautiful from a distance but you must be realistic about buying into this market. Firstly, it is a very competitive market and secondly like any business it is hard work (especially in the early years). Of course, there are many successful gite businesses, and you can buy into this market!
We are not going to cover the French bureaucracy issues but concentrate on the business issues.
Remember this is a business and your approach must be professional and commercial. You need a business plan and it must be realistic. If you are buying into an existing gite business check the accounts thoroughly – what are the trends over the last few years? Check turnover and profits especially....
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