Posted on 19 December 2016
Did you know that “Scroogenomics” is a thing? The economics of gift giving has been studied extensively and the results say… can you guess? We’ve got a Christmas present idea for next year that the whole family will enjoy together. It’s property related, but we don’t mean a new set of Monopoly!
In his 2009 book Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays, the economist Joel Waldfogel claimed that $25billion is wasted each year due to people buying presents that nobody wants. Even worse, people buy presents that they really want but give it to someone who definitely doesn’t want it, so the waste is two-fold. Joel calls it an “orgy of wealth destruction”.
For many of us, giving and receiving small gifts is about more than the actual thing, it is a gesture of love and affection and a lovely part of human existence for thousands of years. But even so, maybe we could buy something for each other – and ourselves – that we all really want. So if you agree with Mr Waldfogel and are sitting in a sea of wrapping paper and disappointment this Christmas, how about gently suggesting that next year the whole family clubs together to buy a ski property instead?
You can get a down payment on a property for as little as a few thousand euros each and then organise a mortgage to pay the rest. What is more, with the value of mountain property on the rise, you’re really having your Christmas cake and eating it, because your money will be making money while you enjoy the house.
If you’re ready to buy a ski property in France, click here to download the FREE guide to buying a home in France
Here are three reasons why buying with family is a wonderful idea. Firstly, how many of us get together in the cold and stress of Christmas and then never see our kith and kin through all those lovely warm summer months? Owning a holiday home together in the mountains gives the chance for long, healthy, cheap summer holidays together too.
Secondly, the baby boomer generation has done so well financially: huge UK property price rises and free university education to name just two advantages. Now many grandparents are sitting on piles of property wealth while youngsters with student debt and high rents can hardly afford a foreign holiday. What nicer way to spread a bit of that wealth than being the main investor in a mountain home in France or Switzerland that all the family can use? Put it in your kids’ names and you might even keep it out of the clutches of the taxman on that faraway day when you become the much-missed ghost of Christmas past.
We all send Christmas cards covered in snow but how many us ever see the real stuff?
Thirdly, the pagan origins of a celebration at the winter solstice are, let’s face it, largely because Britain is so blooming horrible at this time of year! Ski property may be get cold in winter but it’s always beautiful and has that amazing, enervating aroma of freshly fallen snow. We all send Christmas cards covered in snow but how many us ever see the real stuff?
So this year, while you’re washing up the best family china with your siblings after Christmas lunch, this could be a great time to plot your escape for next year. We bet they’re thinking the same thing too!
If you’re thinking of buying a property in France, whether in the mountains or the valleys, the seaside or the plains, click here to download the FREE France Property Guide.