You Buy What You Cannot Change…But, You Can Change a Lot!

Some of the questions we’re asked quite often are: “How difficult and expensive is it to renovate? How can I effectively renovate if I’m not on the ground to oversee it?”

New buyers almost always say: “I don’t want to renovate. I want move-in ready.” The answer isn’t simply to renovate it. It’s to understand it first.

Keep in mind that if you limit yourself to only a fully renovated property, you may be missing the best of the lot. We advise not to limit the possibilities and look at everything on the market, regardless of its condition…because YOU BUY WHAT YOU CANNOT CHANGE.

Burn those words into your brain. You can’t change the location, the level of the apartment, if it has an elevator or not, the view, the light, the quality of the building, etc. But almost every detail inside the apartment can be changed…with a few caveats.

I have witnessed that the French can’t wait to modernize everything, while we North Americans desperately want to preserve the history we don’t have in our comparatively new and adolescent home country. We want to know we’re in France from the ground up. While we certainly want updated bathrooms and kitchens, we want the decor to reflect the history and culture we have newly embraced. We also live very differently from the French and want a home to function more efficiently and have more of our lifestyle choices.

For example, you might not like having a toilet separate from the bathroom like the French do, especially if it does not have a sink in which to wash your hands before leaving the room! The French love their enclosed kitchens so the odors won’t permeate the apartment. But we Americans love our open kitchens so that we can cook and entertain all at the same time.

The charm of French property lies in the details that have survived generations: the parquet floors, marble fireplaces, ceiling moldings, exposed beams, old stone walls, antique hardware, and even those wonderfully imperfect features that tell the story of the home. (My 17th-century apartment doesn’t have a 90-degree angle in it!) You can still have all of that, even if it wasn’t there to begin with.

There are a few restrictions to renovate a historical property, but not as many as you might think. In a multi-family building, the structural walls can’t be touched without permission from the building homeowner association, nor can any changes be made to the exterior of the building without permission from of the city as well. That means you’re not installing a compressor on an outside wall to air-condition the apartment. That means if you upgrade the windows to double or triple-paned, you best not change anything about the way they look from the outside. And it means that if the shutters need painting, too bad…you are not allowed to do that without permission.

All that being said, on the inside you can do just about anything else you want without special permits—unlike in the US, and definitely unlike a New York co-op where your hands are totally tied without special permits!

Most properties you visit for purchase will need some renovation. If it’s move-in ready, then someone else did the renovation, and perhaps not to your taste or lifestyle needs. And you’ll be paying for it. Face it. They paid for it, and they want a return on their investment. This is why I prefer to buy a “wreck,” and renovate it exactly the way I want it.

RENOVATION COMES BEFORE DECORATION

When clients find “the one,” excitement often takes over. They immediately start thinking about paint colors, furniture, kitchens and bathrooms. But before any decorating begins, there are much more important questions to answer.

Is the electrical system up to modern standards? Does the plumbing need replacement? Is there sufficient insulation? Can the layout be improved without sacrificing the character of the apartment? Will the project require authorization from the copropriété?

These are the decisions that determine whether a renovation becomes an investment—or an expensive lesson…or both.

Renovating in France requires patience, although I think any renovation anywhere requires this attribute. With it, however, comes creative pleasure and the reward of being surrounded by a space that reflects your own personality. Everyone I know who has renovated doesn’t look back and regret spending the money.

Artisans here work differently than in North America. Materials are different. Building regulations are different. Historic buildings often come with restrictions. Even ordering a custom kitchen can take months. And if you’re trying to do this in the summer vacation months, you need even more patience. The process can be frustrating if you expect American speed.

There’s a wonderful upside to all this. French craftsmen are masters of restoration. They know how to preserve centuries-old architecture while discreetly incorporating modern comforts. Our number one preferred designer, Martine di Mattéo, has a carpenter/iron forger who is one of the best! His custom work has spoiled me terribly. When done well, you end up with a home that feels timeless rather than trendy.

It’s often the properties that scare other buyers away that become extraordinary homes after thoughtful renovation,too. That’s where experience makes all the difference.

It’s the strangest thing, but I have X-ray vision. When I walk into a property, I don’t see what is there. I see what could and should be there. I see how the walls might change, how another bathroom can be added, or how space can be used more efficiently. I should have been an architect. Maybe I was in another life as it comes so naturally and organically.

When we developed the Fractional Ownership property in Nice, “Le Palais du Soleil,” it was a large one-bedroom with one bathroom and a separate kitchen. There was one supporting pole. Our architect agreed with my vision and was able to very creatively and effectively create a two-bedroom/two-bath apartment out of the same space. By using “atelier” style glass walls, that let in light and views, the small spaces felt a whole lot larger. It’s one of our jewels and the owners love it!

WHERE THE MONEY REALLY GOES

The truth is that most renovation budgets are spent in just two rooms: the kitchen and the bathroom. These are also the rooms that add the greatest value to your property when thoughtfully designed. A beautiful new kitchen can completely transform the way you live in your home, while a well-planned bathroom can make a century-old apartment feel luxurious without sacrificing its historic charm.

By contrast, repainting, refinishing floors, replacing lighting, or decorating can often be accomplished for relatively modest sums. However, painting walls are a lot more expensive in France because the walls are plaster and need sanding, unlike rolling paint onto drywall in the west.

I call my method of decorating “Zircons and Diamonds.” You marry the jewels with the practical and inexpensive items. Before you know it, you can’t tell one from the other.

As a very general guideline, expect a quality renovation in France to cost between approximately €2,000 and €4,000 per square meter, depending on the condition of the property, the extent of structural work, the quality of the finishes, and the region of France. Luxury renovations, particularly in Paris or on the Côte d’Azur, can easily exceed that range.

My own renovations generally run double that, because first, “I want what I want,” and I love Martine’s custom cabinetry artisan’s work. (It’s not cheap, but worth it.) I’ve also discovered the value of mosaic tile or hand-made Moroccan tiles that turn any space into a something very, very special. And trust me, custom made drapes are the icing on the cake. Meanwhile, under the covers are IKEA bedding, and IKEA pots and pans in the kitchen. Who would notice that? No one! Zircons…and diamonds make a good partnership.

The important thing to remember is that renovation costs are rarely spread evenly throughout the apartment. Kitchens and bathrooms consume the largest share of the budget because they involve plumbing, electrical work, cabinetry, tiling, fixtures, appliances, ventilation, and often structural modifications. If those rooms are already in good condition, the overall renovation can become dramatically more affordable. Keep in mind that a small space with one kitchen and one bath can cost almost as much as a large space with one kitchen and one bath.

GOOD BONES

One of the smartest investments you can make is to buy a property with “good bones.” That’s what you can’t change. Beautiful moldings, solid parquet floors, quality windows, and a functional layout are easy to recreate, while high ceilings, big windows with beautiful views would be impossible. Cosmetic imperfections are relatively easy to fix; but architectural character is priceless.

That philosophy has guided countless successful purchases for our clients over the years. And successful renovations have been done by our clients working with our preferred designers and contractors. We’ve done hundreds of renovations with Martine, literally. I have three projects of my own in her hands. One is our Paris fractional, Le Bijou de l’Hôtel de Ville. Another is my daughter’s apartment in the Haut Marais. And my own apartment in Nice, “Heaven on Seventh,” a penthouse a block from the sea with a large terrace (two years in the making, and that’s a long story!). As soon as we sign the deed on La Perle du Port, our newest fractional property, Martine will have a fourth one for us.

Seeing not just what a property is today—but what it can become tomorrow—is one of the most valuable skills you can bring to a purchase. Over the years we’ve built relationships with architects, designers, contractors, artisans, kitchen specialists, decorators and countless professionals who understand both French construction and the expectations of North American buyers. Helping clients renovate and decorate isn’t simply another service we offer. It’s the final step in transforming a purchase into a home.

Buying property in France isn’t really about owning real estate. It’s about creating a life. And sometimes all it takes is the right vision, the right team—and the courage to look beyond what you see today.

For more information, visit our website’s renovation page.

A la prochaine…