A Big Apple couple who convinced their family to sell their home in the US and spend $2.6 million on a crumbling French castle are now struggling to keep their dream alive as it is beset by structural problems and costly renovations.
Julia Leach, 33, and her fiancée Caroline Ibarra, 37, bought the 750-year-old castle in Charente, 90 minutes northeast of Bordeaux, with Leach's parents in early 2021 with the hope of turning it into a full-scale hospitality business. The Wall Street Journal reported,
But two years after its establishment Lady of the Chateau When asked about the business, the couple said they have incurred losses due to the hefty cost of renovating the sprawling 14,000 sq ft property.
The bill to repair and restore the property has ballooned to nearly three times their estimated $1 million budget.
Worse, if they can’t prove they’re earning more than France’s required minimum wage of about $46,800 over the next two years, they risk being deported when their visas expire.
The couple's dream of living in a castle in the French countryside came to an abrupt end when they decided to move out of their Brooklyn apartment, quit their careers as TV and film camera assistants, and start a YouTube channel to document the renovation process.
They quickly became plagued with problems related to the castle-like property, including structural problems, leaks, sewage backups, electrical problems — and even a small earthquake.
At one point, the couple found themselves busy retrieving sanitary napkins from a septic tank “knee-deep in water” and removing dead animals from the infrastructure.
The couple also did not know when they bought the palace that it was listed as a historical monument, meaning architects would have to seek government permission for any structural changes to the building.
The family – which also included Leach's parents and sister, who had relocated for the joint venture – had planned to invest significantly in the property.
The cost, however, has risen to about $3 million.
“It was becoming totally unaffordable,” Leach recalled thinking, adding that the expense forced them to completely rethink their two-year renovation plans.
Leach's parents sold their “French Provençal” style family home in La Jolla, California to pay for the castle and invest in the business.
Leach said the castle's gardeners and cleaners, some of whom had been working there for decades, also quickly realized the couple were serious about reviving the property and weren't there just to “drink champagne in bed.”
“It was a huge responsibility and a feeling of nervousness,” he said, recalling his first few months at the palace.
The family says despite all the renovations and structural issues, they are trying to continue with their business plan.
Despite initially opening the property as a bed and breakfast, they later began focusing on “immersive retreats” in an attempt to turn a profit.
“I think what we’re doing is very American in many ways,” Ibarra said.
