Can we afford to run a gite business

Can I afford it?

Well we've seen that you will carefully calculate how much to pay, then forget about that and buy your ideal place, almost certainly paying too much for somewhere that will not generate enough income. Everyone else does, so why be different. Happily rising property prices, at least in the long-term, will mean that it isn't too important.

Well there is good news as well. You won't have a mortgage, you can drive a less flashy car, the restaurants you go to will be much cheaper, and there is little pressure to 'keep up with the Jones's'. No more train and taxi costs, and expensive manicures to cheer you up at the weekend. So outgoings will be a lot less.

However you can't eat fresh air or pay your bills with surplus tomatoes. You will need to pay for food, drink, car and petrol costs, insurance, repair costs, electricity and water bills, and some local taxes. With the exception of local taxes, which are a bit lower than in the UK, the other items will cost more or less the same. Slightly less but not enough to make a big difference. And those gites will all need furnishing.

I would say it is more or less impossible to support a family of four for less than 20,000 euros per year. Certainly you won't be having many luxuries, and many people would find this income hard to live on.

Continue to the 'can I afford it' calculation HERE