At What Cost?

France would never feature on a list of the world’s bargain destinations… Paris, after all, rivals London, New York, and Tokyo in terms of cost. Still, outside Paris, this country can be much more affordable than you might imagine—and even Paris doesn’t have to be out of reach.

Living in Paris, with all its culture and charm, can certainly be an expensive proposition… but cost of living is hugely variable and highly controllable in Paris and anywhere else in the world.

In Paris, for example, you can live easily without a car, walking nearly anywhere you’d want to go. The butcher, the baker, the grocer, the wine shop, a half-dozen busy cafés, and as many lovely parks and gardens are all less than 15 minutes’ walk from almost any point in central Paris. And, when you want to venture beyond your quartier, the metro or bus will take you from restaurant to nightclub, from museum to café for around US$2.

And France in general isn’t cost prohibitive for the average person or family thanks to a few notable trade-offs. For example, cable TV, internet, and public transportation are very affordable in France—far more so than in North America. Moreover, because taxes subsidize public programs, certain living expenses are considerably less in France than stateside, like health care.

Another upshot for North American transplants is that individuals who’ve lived outside of the European Union for over 12 months don’t have to pay import taxes on personal items like clothes, jewelry, and various household items. However, once you’ve lived in France for more than a year, the tax man will come knocking… and he’ll expect a cut of your worldwide earnings.

What about French real estate?

Investing in a Parisian place is a sure thing. And believe it or not, there are still some affordable districts (arrondissements). Paris is a lifestyle play that can double as a solid investment, as apartment values in some arrondissements continue steadily up. A piece of Paris real estate is a hard asset worth holding.

If this notoriously pricey city is out of your financial reach, however, there are plenty of other options. Consider the Paris suburbs or rural areas. An idyllic country farmhouse can still be had for about US$150,000 in certain regions. If you’re up for renovation, farmhouse projects could be had for well under US$100,000.

Plus, always remember what you’re buying. Paris is, in the opinion of many, the most beautiful and romantic place on earth. It’s historically been one of the most visited cities in the world, and with good reason. So when you realize that you pay more for less space… or that you pay a premium to eat at a café along the Seine… you have to remind yourself to compare apples to apples. A one-bedroom pied-a-terre in Paris may cost more than a three-bedroom townhouse in small-town America, but when comparing the two you have to take much more than price and size into account.

Go here to check itemized budgets for each of our favorite destinations in France.