The Parisian Dream: Why I Decided Against Owning Property in Paris

As an American who’s always been enchanted by France, the thought of owning a little slice of heaven in my beloved city of Paris seemed like the ultimate dream. I imagined having a cozy retreat in the heart of the city, surrounded by charming streets, stylish cafés, public gardens, and art at every turn. But after careful consideration, I decided against it. Here’s why.

The Spark of Inspiration: Seeing an Ad and Scheduling an Appointment

During my last visit to Paris, I came across an ad for a small apartment that caught my attention. It was in a perfect location, in a desirable neighborhood, on a quiet street, with plenty of potential. The apartment needed work, but that was part of its appeal. It was a blank canvas waiting for my touch.

I scheduled an appointment to see it. Armed with my trusty measuring tape, camera, and sketch pad, I approached the apartment like a true designer/renovator—eager to measure every corner, snap photos, and sketch out my vision for what it could become. I’ve renovated five homes, dealt with vintage buildings, and been involved in numerous historic preservation projects. I could do this!

After all, I was in Paris to celebrate my birthday. An apartment would be the ultimate gift to myself. The excitement I felt was palpable. I was swept up in the possibility of creating my perfect pied-à-terre in Paris.

The Apartment Needed Extensive Renovations

I was immediately drawn to its charming—but rundown—features such as the marble fireplace, southwest exposure, high ceilings, hardwood floors, etc. The kitchen and bathroom were a disaster and there were other areas that needed attention. But that only fueled my excitement. I had ideas for everything from installing a custom closet to restoring the windows. And, what about the floors? Should I refinish them or rip them out and install herringbone patterned hardwood? Of course, I needed rugs, draperies, furniture, a couple chandeliers, flower boxes, etc.

I love renovation projects and am inspired by people like Garrow Kedigan, who documented his Paris apartment transformation on YouTube. His creativity and the way he brought new life to an old space motivated me to think about what my own vision for this apartment could be.

I’m also a huge fan of ABKasha on Instagram and am so impressed by their work. The before and after photos on the company website are inspiring—dingy, outdated apartments are transformed into precious gems of modern living. The process of breathing new life into a tired apartment is one I truly enjoy.

From Excitement to Hesitation

As I continued to think about the apartment, the logistical difficulties of managing a second home abroad started to cloud my excitement. While I could hire a property manager to handle day-to-day maintenance, I began to realize that much of the joy I found in renovation—the hands-on involvement, checking in on progress, making decisions on the fly—would be something I would have to give up. The thought of not being able to oversee the project in person, to ensure every detail matched my vision, made the idea of owning a Parisian apartment feel less like an adventure and more like a responsibility.

And then, as I thought about the future, it occurred to me that owning property abroad wouldn’t just involve managing the renovation. There would be ongoing maintenance issues—leaky pipes, broken appliances, or even regulatory changes—that would require my attention from afar. I already had experience with property troubles back home. Just weeks earlier, I returned to my Chicago pied-à-terre to find water leaking from the ceiling due to a radiator issue in the unit above mine. The idea of having to deal with similar problems in Paris, without being able to address them directly, suddenly made owning a property there seem less like a carefree retreat and more like a logistical puzzle I wasn’t sure I wanted to solve.

The Paris Real Estate Market

I spoke with two Parisian friends who offered their own perspectives on the real estate market. One, who closely follows the market, shared that prices in Paris had dropped 10% in the past year and felt that the market was cooling off. He also pointed out that the apartment I was eyeing was overpriced by 15-20%, as though it had already been renovated to perfection. Another friend, who owns rental properties in the city, warned that the Paris market had likely peaked, suggesting it might be better to sell now and invest elsewhere. Their advice gave me pause and raised further questions about the timing and financial viability of such an investment.

An American in Paris

Americans owning property in Paris face challenges with high taxes and, perhaps, complex visa requirements. They must pay local property taxes and income tax on rental earnings, which can be higher than in the U.S. My current visa allows me to stay in France up to three months. Long-term stays require navigating France’s strict visa policies. These bureaucratic hurdles, along with the need for professional advice on French tax laws and real estate regulations, would add cost to the purchase, especially if I wanted to hold the property in a trust or had a future need to rent it long term.

The Changing Social Landscape: Où sont mes amis?

Further complicating matters was the fact that many of my close friends had moved away from Paris. The pandemic had caused a shift, and those who had once called the city home were now scattered across quieter towns in France or even other countries. Paris, which had once been a lively hub of social activity, now felt different. Without the community I relied on, the idea of having a home there lost some of its allure.

My Dedication to My Career and the Reality of Travel

Owning a Paris pied-à-terre is a tantalizing thought, but the reality of balancing that with my professional life was a lot to think about. I’m deeply committed to my career and don’t have the luxury of traveling on a whim. The truth is I can’t simply drop everything whenever I feel the urge to escape to France. With my responsibilities back home, traveling to Paris requires significant planning and time away from work. A second home would add a degree of stress to my already demanding lifestyle in ways I wasn’t ready to take on.

The Uncertainty of Long-Term Plans

Finally, the uncertainty of my long-term plans made me hesitate. While I could envision spending more time in Paris in the future, I also know that life is unpredictable. I am just not sure how often I would be able to visit, especially if my professional and personal circumstances changed. Having a property in Paris would lock me into a long-term financial commitment, and the thought of being tied to it without knowing how often I would use it in the coming years made the decision even harder.

Ever the Pragmatist

In the end, I realized that the dream of owning a second home in Paris was far more complicated than I had initially imagined. Between managing my busy life, the renovations required, and the practicalities of managing a property from abroad, the idea of owning a Parisian apartment lost some of its luster. Reality had set in.

Thus, I chose to keep Paris as a place of escape—one that remains magical and stress-free. While I may not own a piece of Paris, I know that I’ll always return to the city as a cherished destination rather than a permanent responsibility. Sometimes, the best way to experience a dream is to enjoy it from the comfort and convenience of a four- or five-star hotel. For now!

Share your thoughts below – I would love to hear your perspective.