Paris or Nice? You Might Not Have to Choose!

We live in a transient world now—especially since the 2020 Covid Pandemic—with the ability to work remotely from anywhere in the world. It’s no longer unusual for someone to live, not in just one place, and not even in two places, but sometimes in multiple homes scattered across the globe.

Sure, it takes a certain amount of money to be able to do that, but not as much as you might think.

When I bought my apartment in Nice in 2011, it was both a practical and financial decision. The property was for investment purposes with the idea of renting it out and generating revenue. I took a 100% mortgage to finance it, so there were no out-of-pocket expenses for the purchase, but the renovation costs were at my own expense. The idea was not just for that, however. It would serve as a potential retirement home, too, and a foundation to expand our business into Nice.

Rue de Saintonge in Paris and rue Masséna in Nice

It served all those purposes, at least for a while. Once I started using it more, and with the advent of stricter short-term rental laws (not to mention even stricter building bylaws), I gave up the rentals and started going back and forth between the cities. I had no idea at the time how much I would end up loving Nice, and so did our clients. We now have even more North Americans moving to Nice than to Paris! Can you believe that?

People ask me all the time how I split my time between the two cities. There is no formal plan—I come and go on a whim and depending on what responsibilities I have in either of the cities. The SNCF site helps me decide which days and times are best according to the fares.

It’s so easy! I can hop a train or a plane, but I prefer the Train à Grande Vitesse (TGV) even though the trajet (route) is six hours long vs one hour and 15 minutes in the air. When you compare door-to-door travel, however, the train is only about two hours longer, considering trips to and from the airports compared to the local train station. Getting to and from the airports can cost a lot more, too, especially if you opt out of public transport and take a taxi, like I would. Train travel is also less expensive, especially thanks to a senior discount (30% off!), but the number one reason for me is the ability to work and relax on the train, while flying makes any of that nearly impossible. SNCF allows for a lot of flexibility, too—it’s easy to exchange or cancel bookings at no penalty. Other reasons to take the train include the ability to take more luggage, avoiding airport security, and being perfectly on time more often than not.

Train or Plane

The other question I get is if I had to choose between the two cities, which would I want to call home? The answer is “I don’t have to choose. I can have them both.” And I want them both. Paris is Paris. Nice is nice. They are very different places, and both are highly desirable.

It’s funny. When I’m in Paris I think of being in Nice. When I’m in Nice, I don’t really miss Paris, but I’d never give it up. Paris is Paris and there is nothing quite like it, anywhere in the world. But Nice is nice…very nice. The weather is gorgeous, the scenery is gorgeous and the lifestyle is very easy. Paris is not an “easy” city, but it is an exciting city! So, how does one choose? I can’t!

It might sound very luxurious to live in both, but the carrying costs of a property in France are so low that it’s not as expensive as one might think to maintain two abodes. For example, the property taxes for both properties are under €1,700 a year. Homeowner insurance is cheap—a total of about €800 a year for both. Internet/TV/Phone is only €35 a month each. Electricity is about €150 a month for both. You see what I mean?

Here’s the point: you can do it, too.

I can show you how to invest in a property in Nice that costs half of what a property in Paris costs. Rent it out when you’re not there, short-term or on a “mobility lease” (whichever works best), and with the revenue you generate, rent an apartment in Paris where the rents are seriously cheap compared to the price of property.

Either way, you’ll have both cities, too. (Or two of anywhere you choose!)

This isn’t a joke. It works on paper, and it works in real life, too. You see, rents in Paris are highly controlled and very inexpensive compared to the cost of the property. In fact, while property prices in Nice are half those in Paris, the rents in Nice are two-thirds the rents in Paris. This means the return-on-investment in Nice is actually higher than in Paris — another reason to own in Nice and rent in Paris.

For sale signs on apartment buildings in Nice and Paris

So, let the revenue from the rents in Nice cover the costs of the rental apartment in Paris. It really does work, and for very little out-of-pocket, or even at a gain, depending.

With a Fractional Ownership property, you’re making an investment that will grow and can be resold, so in the end, there’s no out-of-pocket expense and only the pleasure of it! It’s a win-win!

With any of the properties we’ve developed, that gives you up to four weeks a year to enjoy either Paris or Nice. There are shares currently available in Pacaso’s properties in Paris (ultra luxurious!) and we have shares in other Paris properties that offer a variety of usage calendars. Our Villefranche-sur-Mer property, with a front-row view of the sea, has a share available, too! You’ll find them all by visiting our site.

(Make note: we will be doing a webinar on June 24th all about the benefits of fractional ownership and highlighting our properties, so mark your calendar now and visit our website to reserve your place.)

The only problem you may have is the problem I have! I love both cities. I don’t really want to spend more time in one than the other. That’s why I go back and forth like a yo-yo. But, that’s a good problem to have.

These aren’t the only two cities in France with which you can share your time! Lots of urbanites have a house in the country so that they can enjoy country-living when they want or need downtime. The decision is yours, but don’t be afraid to make it.

We can help you make this happen. Contact us to set up your consultation and learn how.

A la prochaine…