M
ark Goff and Phillip Engel bought Château Avensac in southwest France three years ago for $1.2 million, but their dream of living like royalty quickly turned into a nightmare. The medieval castle had been rebuilt in the 1820s, but it still retained its original charm, including exposed electrical wiring, nonexistent plumbing, and stone walls that retained moisture. Despite the extensive renovations needed, they decided to take on the challenge, hoping to host weddings and artist retreats to help pay for the costs.
As they began working on the château, they realized that their budget was woefully inadequate. "Everyone said, 'You have to assume everything is going to be double what you expect,'" Engel recalled. "And they were kind of right." They've spent $500,000 so far and still have another $500,000 budgeted for the project.
The couple's experience is not unique. Across France, there are thousands of châteaus on the market, many of which are being given away due to their high maintenance costs. Real estate agents warn that buyers should expect to set aside at least 1.5% of the purchase price annually for maintenance and potentially much more if the property requires extensive renovations.
For Americans like Goff and Engel, buying a château in France is often driven by romance rather than financial gain. "The idea of the royals and the nobles, to us, is a very romantic idea," Goff said. "That's why we love 'Bridgerton.'"
Abigail Carter, another American who bought a château in France, had a similar experience. She found her property on YouTube and closed on it for $610,000, budgeting an additional $200,000 for furnishings and renovations. However, she quickly realized that owning a château was not all it was cracked up to be.
Williams Henrys d'Aubigny, the owner of Château de l'Espinay in Brittany, has been trying to sell his property for five years but is struggling to find a buyer who will appreciate its history and cultural significance. He estimates that the château needs $100,000 worth of renovations, although his real-estate agent believes it's more like $1 million.
Despite the challenges, many Americans are drawn to buying châteaus in France as a way to start a business or create a unique lifestyle. Carter plans to host creative retreats and "healing" retreats for widows at her château, while Goff and Engel aim to launch an events business. They've also started selling château-themed merchandise on their website.
As they navigate the complexities of owning a château in France, these Americans are learning that the romance of living like royalty comes with a steep price tag.
