How much does a castle cost
Buy a castle (castle / country estate)
Buy a castle, manor house or chateau - different types, diverse possibilities
Live in a castle or chateau yourself, rent it out to holiday guests or run your own winery. There can be many reasons to want to buy a castle, mansion, or chateau. However, there are a few things that potential buyers need to be aware of.
Buying a castle, mansion or palace is a long-cherished dream for many people. However, if you can afford or finance a corresponding building, you should consider a few important things when buying. Because in addition to a wide range of possible uses and tax advantages, a lock can also require a lot of renovation.
Palace, manor house or castle - different types of buildings
Although words such as castle, castle or mansion are often used interchangeably in common parlance, these are basically different types of buildings. An overview:
A castle is usually a building that was built on behalf of a nobleman - regardless of its size or design. Small castles that are no larger than an average single-family house come under this term, as do the castles Charlottenburg and Neuschwanstein. In the case of locks, there are certain sub-categories, for example:
- Residential palace
Former castle of a nobleman, which in addition to the private residence also offered space for administrative authorities.
- Hunting lodge
Castle that served as a starting point for hunting trips.
- Pleasure palace
Mainly used for the leisure activities of nobles and was therefore usually combined with a garden or park.
In addition, depending on the location of the castle and the main period of residence of the residents, a distinction is made between city palace and country palace and summer residence and winter residence.
Today, a castle is mainly understood to be a medieval fortification. While a castle primarily served representative purposes, a castle should generally protect its residents from attackers by thick walls and possibly also a moat.
A mansion also differs from a palace or castle in terms of its function - it is usually the center of a property, i.e. an agricultural operation. For example, it can be a former manor or aristocratic estate, but it can also be a winery that still fulfills this function.
Vineyards, riding stables, hotels - many possibilities
Depending on where the castle, palace or manor is located, there are many different uses for this: Whether the castle is in the middle of a vineyard, the manor is the center of a riding stables or the small town castle is simply to serve as a retirement home. In any case, it is advisable to find out about the previous use of the property and, if possible, to ask the previous owner why the original operation had to be stopped.
If the new property is to become a hotel and it is located in a residential area, it is advisable to take a look at the community's development plan in advance. Commercial use may be excluded there. The reason: Purely residential areas enjoy the highest level of protection against any commercial use under building law. In the case of prestige objects in particular, however, it is often possible to obtain an exemption - for example when a small castle is made accessible to the public.
What to consider when buying
Since palaces, castles and mansions are mostly older buildings, real estate buyers should make sure that the property is in good shape beforehand. For this purpose, it is best to obtain at least one appraisal report - but preferably several, because castles and fortresses are more difficult to assess than ordinary houses, even for professionals. After all, these are unique architectural pieces.
Anyone who buys a palace or a castle should be aware that they are most likely acquiring a property that is a listed building. Here it is advisable to contact the monument protection authority on site at an early stage. Certain renovation work must then be approved, and in many cases there are special requirements regarding material and implementation - under certain circumstances, the renovation of a castle can even be more expensive than a new building. Renovation and long-term follow-up costs should therefore be calculated at an early stage and buyers should not be tempted by perhaps low purchase prices.
You can check how you can best finance your castle, palace or manor house in our finance calculator.
This is where property buyers can get a first impression of the property's value.
Tax advantage through monument depreciation
As risky as purchasing a listed property may seem at first, buyers also have tax advantages. If the property is redeveloped, the costs incurred can be deducted from the tax as depreciation for wear and tear. The owners of listed properties can also write off the purchase price if the castle or palace is rented out.
Buy a mansion, castle or palace - calculate everything carefully before buying
In the end, the following applies even more to mansions, castles and palaces than to other properties: Such a purchase needs to be carefully considered. It is best for potential buyers to obtain cost estimates for any remedial measures that may be required before actually making a purchase and to calculate exactly what the bottom line is that the realization of their dream could cost. In addition, buyers should allow for a certain financial buffer. Often it is only in the course of a renovation that it becomes clear what additional action is required. Once that has been done and the financing is secured, nothing should stand in the way of the purchase.
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