Finances of barn and house renovation

Finance and tax issues in property renovation

Finance Home : Costs of Renovation : Finance your Project : Tax and VAT / TVA : Reduced rate VAT rules

Financial matters are an important part of any renovation or building project, or barn conversion. From the menu on this page you can access information about the general costs of renovation work, the tax and VAT issues, and some general guidance about how you might finance your project using a mortgage or loans, if necessary.

The general message is that not only are the costs of the renovation project itself important to consider, but the tax implications can be equally important albeit not so immediate.

One topic not covered within the individual sheets is the cost of buying and selling. Suffice to say, these are expensive. A typical estate agency fee on a purchase or sale in France is 6%, and legal costs at purchase time can be 5-8%. Often when buying a ruin this doesn't amount to a large amount, but when you are selling your newly renovated house a few years later it can be substantial. Full removal costs from the UK or elsewhere to France will usually cost several thousand pounds/euros as well.