Search
Close this search box.

Want To Buy A Castle? Things To Be Considered

Purchasing castle properties is an investment that is most often turned into a hotel or family home. In such a fantastic venue for weddings or unique events, one can feel like in a fairy tale. Still, if you buy a castle, there are a few things to consider.
Simplify Complex Wealth Management: Explore Altoo's Premium Features. Preview Altoo Wealth Platform.

While making a purchase, you can either act on your own or involve someone who specialises in it. According to Forbes Global Properties magazine, the French Groupe Mercure from Toulouse and FGP Swiss & Alps in Geneva, Switzerland, are two companies that specialise in the buying and selling of historical properties (including castles) in their respective territories. A reputable company will also help in identifying inventory in the locations you prefer.

 

01 Set a larger Budget

Especially if you want to buy a castle that needs repairs, having enough money is an essential condition. Even if the building object itself might be cheap, the repairs and upgrades are often several times more expensive. But in the end, the result is more rewarding than the typical house renovation. With the castle, you are becoming a part of history.

 

02 Obey the Regulations

Each country has unique rules and regulations for renovating historical sites; the object is not rarely a cultural heritage. You want the regulations to match your goals and vision. Find a way; talk to the experts and locals about the best solution. Nobody wants to live in a hostile environment. Moreover, the castle owners have a duty to preserve history and culture.

 

03 Find local People

The castle is always a construction site. Not only while repairing but also for maintaining, reliable experts and workers are necessary. Find local construction companies, architects, designers, and historians that specialise in castles. Choosing a construction company from the same area is crucial since they will know more about local materials and building codes.

Elevate Your Wealth Game: Empowering UHNWIs for Simplified Asset Management. Altoo Platform Preview

 

04 Keep the energy Efficiency

In the days of building castles, modern ideas of comfort had not yet arrived. The objects are built without heating (except for log fires), bathrooms, electricity, etc. if no one is living there yet. Maybe go and visit a castle or a château that is still lived in by the owners. Try to find ways you can improve comfort and energy efficiency.

Having a personal castle is an immense source of pride, especially for homeowners with an interest in architecture, art, and history. Maybe your investment in the castle will return, or maybe not. But owning a historical building is also a message you are leaving for future generations, as it was the message of previous generations because of which you decided to buy a castle.

Penny Mosgrove of Quintessentially Estates, the lifestyle management group, says on their webpage: “Ultra-high-net-worth individuals love to have a castle as a fourth, fifth, or even sixth home to showcase large, unique art collections. It is all about enjoying a different status and owning a unique and interesting place. These are the clients who can afford the high running costs of these large and old properties.

Altoo: Secure Swiss Professional for Consolidated Assets and Document Management. Platform Preview.

Insights On Wealth Management And More.

Delivered To Your Inbox.
Left Menu Icon