BTW, you might want to complete this sentence, which is unclear as it stands:

Between this and the Brexit, we feel like the property values and holiday rental market (for part time, when we are not there).

If I were you, I would buy it and enjoy myself. Is the value of the property appropriate for the area? Do you love the appartement? I would enjoy french butter every morning:-) I don't have a crystal ball and cannot predict the future. I do the best with what I know today and all I can do is hope for the best tomorrow.

The only reason I would not do it (and we have strongly considered purchasing a holiday home in another country) is because we have determined that we really don't want the responsibility of owning a home that we aren't using full time. For us, there are too many negative implications.

Weigh the pros and cons, and if it leans in your favor then follow through with the purchase. Listen to your heart. There are no market guarantees anywhere, so basically every real estate deal comes with risk. If this is something that will make your heart sing and makes sense ... why not?

I don't know if it's any more dangerous there than other places these days, in terms of terror attacks, but if it is a target location or particularly volatile - no I would not risk my life and become a statistic just so the terrorists wouldn't win in making me afraid. I also would not want to live in fear each day. I'd live my life for me and my family in another wonderful location that was more peaceful and safe.

So close on the heels of numerous attacks there, I probably would not purchase or travel there at this time. Apparently the state of emergency in France has been extended.

snookums, do you drive a car? Think about it. You are infinitely more likely to be killed in a car accident, so does that stop you driving?

Does it really matter how I feel about things? She asked what would you do.

If your really think you might relocate there, why not? I'd just be concerned in the interim how often I'd get there to enjoy it and if it's worth the hassle and expense.

Despite all that has gone on there in Paris, I doubt that you would have trouble renting it. People will always go to Paris.

Really, congrats!!

@writerblock -- thanks for pointing out the fragment. I was distracted and didn't finish the thought. We're trying to keep the positive thoughts in mind.

@homepro: The value is low for the area and for other sales within the building. It needs a renovation. It's in an area called the Carre D'or, or Golden Square, supposed a prime area. They claim units with decent sized terraces are rare. We had some beurre with sel de mer that was incredible, btw.

I realized I didn't include any background, and people may have not seen my decorating thread on the other side. We've been looking for some time (different countries and areas -- Spain, France, Greece and Italy mostly) and this will not be our first vacation home. At the budget we set, it was the unit we liked best with the bonus of easy access and some rental income. (Sicily is still a candidate for a "someday" place or eventually moving more into the country -- we saw some lovely homes in St Paul de Vence).

I keep repeating the mantra that an act of terror, an act of violence or an accident can happen anywhere. But thoughts creep into my brain.

The appartement (2BR/2BA) requires a lot of work and we're contemplating some layout changes (plus new kitchens and baths). Clearly you can see that you are steps from the Med and everything is within walking distance (including a new Tram that runs to the airport). Here's a few photos

Gooster,

Thanks for rubbing it in:-) The appartement is lovely! You will have fun decorating in European so many choices and more reasonably priced than stateside.

Honestly, if you need to rent part time, I'd look for a better view with insulated glass to reduce the sound from the street. It's a lovely apartment (so perfectly francais) but the water scene is such a small slice of your overall view. I think everyone else's balconies would be distracting.

Also, if you're worried about resale and rentals, I would be concerned this is the type of apartment location that might be impacted. You'll likely have plenty of people willing to rent the view, but if less people are coming to the area, then the apartments off the main viewing area could be the ones that are hardest hit with lower demand.

That being said....it is a beautiful apartment and I would love to stay there! If you can afford it without the rental income, it would be very tempting! : )

Yes, you have a valid point, snookums.

You indicate you may be moving there more full-time, you have done your homework, and you were decided on this place until the latest incidents. Perhaps the real choice is whether to buy a second home anywhere - not just in Nice? I don't think there is any invulnerable location, unfortunately, whether in Europe, North America or many other places.

I do understand why you are uncertain now, we all have to determine our own tolerance for risk both at home (I say this with regret) and elsewhere.

It looks like a lovely apartment, and if it was me I would go for it:). Perfect location in a wonderful city!

What are your expectations once you are living there? I have met numerous people who decided to move to some other country and after six months they realize it's a huge mistake and they move back. So long as your expectations are reasonable, I think you've got it nailed on the location location location concept too bad that others thought it was a great location to worship their devil.

DH and I leave for Paris and London in about a month. There are always people who will travel abroad. We're aware of our surroundings and understand we can't predict or control the environment BTW, same thing goes for travel to big cities here.

All things considered, I would not buy a vacation home in Istanbul, but Nice? Terrorism would not deter me.

I would want to understand the relative rental value of this property and if your renovation plans would constitute overimprovement for the area. Real estate is a risk. Foreign exchange rates are a risk. Only you can decide.

If I won lotto, I would buy three things from France. The Van Cleef & Arpel long Alhambra necklace, a Hermes Birkin handbag and a pied a terre in Paris! One can dream.

Thank you all for the encourage and insight. At some point in the decor side I'll post floorplans and potential reno layouts for feedback.

@homepro1 -- didn't mean to rub it in, just wanted to give some context. Our next trip is in September and we'll meet with a designer/project manager, if all goes well and I don't freak out before the signing.

@lavender_lass -- the agents and consultant (red beret lady from HHI) strangely enough advised against being on the promenade. There were some properties in our price range and they looked pretty appealing (although some were further away from this district). You can double glaze the windows (and we will retrofit these) but part of the appeal in this area is to keep the doors open and spend time outside. We did see some other properties with lovely views (higher up in the hills) but apparently the rental market is strongest in this district and the adjacent old town. In some districts further out it can be more of a problem to rent out property.

@miniscule --- you are so right about risk being anywhere --- although some areas may be higher (parts of Turkey, Indonesia, etc) as 1929Spanish points out. But the only time I've had a personal safety incident was in Geneva, one of the safest cities on Earth!

@practigal --- we've lived overseas before, so we're comfortable living overseas (and we likely will keep one place in the US). You are so right about the target location and its appeal to those bad forces in the world --- but I fear I don't think the way the immigrants have (not) integrated into France helps at all, either (not to get too political).

@1929Spanish -- We did have our agent pull comps and we've researched online for resale and rental prices. But in the end, any rental income would be a bonus and we're fortunate enough that this won't derail our future if it all goes south. BTW, we considered Paris but I really wanted more sun! Enjoy your trip -- you'll benefit from the strong dollar, so get shopping!

It's beautiful but no, I would pick Greece hands down out of the list. I would definitely visit and would like to stay in it maybe but not live there and nothing permanent. The beauty of Greece is breathtaking. That's my personal choice. Actually Zante!

My only concern would be real estate values in the area tanking shortly after your purchase. They would likely even out in time but if you end up backing out can you take a bath on the place? It definitely seems wise to buy on the lower end.

I think North Americans are much more protected and sensitive about terrorist attacks than people in other parts of the world (with one large exception) due to our isolated location. So I believe anecdotally (no data to back up my belief) that real estate prices in Europe won't be super affected by Brexit or terrorism in the medium-long term. France has been dealing with violent fallout from colonialism (Algeria for example) for a long time. And from brief googling it seems French real estate had already contracted considerably post-2008 which is a good sign.

Emotionally of course you want to feel good about the place you visit on holiday. I would feel fine but I'm not you...will you feel anxious? Will travelling there be a chore instead of something to look forward to?

Looks very dreamy! I am only just a little bit envious :)

I had googled a bit and travel is reported to be down, along with the state of emergency. I don't recall what it said about real estate values but believe it was included in a number of articles.

I know from your previous discussions on this site that this has been your dream for a while, so this decision was not made lightly. I think you have made a beautiful choice. Would not be my choice for a vacation or part-time residence country, but it is a wonderful choice for the area you have chosen for all the reasons you mention. And a beautiful apartment.

In 5 years or so, if you decide it isn't for you, I would ask yourself if you will still be able to sell and at least break even. The only thing I would worry about is that France seems to be allowing a lot of Islamic immigration and some predictions have been made that the entire country will become an Islamic state in the next 20 years. I don't know if that time frame is correct or if the predictions are even true but with the open borders, who knows.

Hmmmm...Ravencajun reminded me of something....Years ago I visited Greece I had a fabulous time. Why? Because there was a Greek American man who was not allowed to take his money out of the country. Every year he came to Greece and had basically a three-week party as he vacationed at various places and went to wonderful restaurants and asked many strangers out to dinner because he could do nothing else with the money but spend it there. While it may be easy to get your money into a country it may be a whole different ballgame on getting it out again....

My 2 cents.

First, congrats! How very exciting!

I think it's awfully hard to predict hyper-local RE values, and that is why I don't see residential real estate as a good investment (especially in a world which seems to have permanently, structurally, low inflation). In addition, if one is renovating it, IMHO that is almost always a money loser.

That said, I think Brexit may well benefit France (if some EU jobs move there). I don't know about terrorism, but I am not optimistic about France's ability to contain it because of the very heavy share of disaffected Muslim immigrants. But right after 9/11, I wanted to get as far away from NYC as possible. Today, I plan to get a pied a terre there in a few years. It's a highly subjective question and one I think each of us has their own comfort level on.

As far as views, all else equal a more direct view would simply cost more but rent for more; that's simply a matter of preference ... all properties have trade offs.

Therefore, I would not buy it solely as an investment. I would buy it because I wanted it for myself, perhaps renting it secondarily. I would buy it if I could easily stomach selling it say, 25% lower. I can't imagine that things would be too much worse than that in any event. So I'd say, go for it.

Duh, I just realized I said Paris. I did realize it was Nice but somehow automatically typed Paris. Still, I wouldn't change my comment.

I know this is just a matter of values and philosophies, but before I'd make an investment in a vacation property that was so far from home, I'd do the math on how many weeks/months I could stay at a comparable (or even better) rental, given the $$ needed to purchase, keep up and perhaps lose on an investment such as this. If it is your dream and you don't mind being committed to spending most of your vacation time at that one place, then maybe it's a good choice. Perhaps you have enough $$ that none of those things is a concern to you. I, personally, would rather have the freedom of staying different locations, without the commitment of most of my free time, the headaches of renting to others, etc. especially in another country.

That said, it's lovely!!

Nope. Would not buy. Not as long as this is the state of affairs there, and as long as the prime minister is predicting more attacks on France. I'd need a lot more confidence in France's ability to prevent terror, esp. after the priest killing in Normandy after an attacker was released(!) pending trial on terror charges.

Oly, the first time I bought a second home, I did that same math. Including tax considerations, the opportunity cost of the cash invested, etc etc. Luvs me some Excel.

I determined that it made no economic sense at all! I was staying in a semi-rural lakehouse for the nightly cost of a luxury resort.

I recall asking co-workers, most of whom had second homes ..this being NYC, about the calculation. They all looked at me like I had six heads. No one had done the calculation.

Of course, now you are adding in international travel on one hand, and offsetting it with rental income on the other hand. And I think the question is not as much about cash flow as the investment over time, in Gooster's query.

This is what I concluded. There is no comparison to staying in a hotel or even a rental vs owning. There is a lot of pleasure from making a place your own, and from, as Air BnB says, living there not visiting there. Moreover, you could rent an extra hotel room for your friends when you travel, but who would accept it? very few. But invite them to your guest room and you are full all season! Totally different.

Gooster- Again, it's a lovely apartment. Personally, I would want the views, but you've been talking to the experts....what do you really want? Do you prefer the location, the view or both? I would buy for myself, first...then think about investment, if that's financially possible : )

OutsidePlaying- I doubt France will become an Islamist state. I predict France, German and the UK will all want out of the EU for various reasons, including the borders, but also some of the manufacturing restrictions and the amount of money that is transferred to other European countries. Instead, my guess is they will dissolve the EU and replace it with the EEU (European Economic Union) to help trade and banking, but no more wide open borders or as many manufacturing restrictions. This will keep Scotland and Ireland happy, without losing England.

Side note...currency may be unique for each country, but I think the euro will be replaced by an overall pound or franc for trade. The euro may be too tied to the EU to be popular. Again, just a prediction.

Meme pas peur! (not afraid)

I would do it in a heartbeat. I know your appartement is in Nice but I've been to Paris 3 times in the past year, just spent 2 weeks in April, I'll be there again in Nov. and in Rome and Paris in April, working on fall '17 now.

I always rent apartments in Paris, travel solo, am of a certain age and I'm not afraid of anything.

There are no guarantees in life.

Adrian Leeds the Parisian realtor and House Hunters International personality sent this newsletter out yesterday. She also owns a second home/appartement in Nice and is very knowledgeable about the city.

Make a Move to France...Do It Now

That's a very interesting newsletter, JePenseTrop, but it's quite silent on the difficulties posed by FATCA for Americans looking to move abroad.

She can only address so much in each newsletter.

As U.S. Expat herself, Adrian Leeds is also well versed on FATCA . She sent this newsletter earlier this year. I find her to be an excellent source of information and resources.

I would hope that anyone thinking about moving abroad would research issues like FATCA before making such an important and life changing decision.

U.S. Taxes for Expats 101

Thanks, JePenseTrop. I know so many people who bought property in France hoping to move there when they retired, who went and got whacked with that and the difficult choices it involves.

I will have to check that article out, but that is interesting because I do remember reading not very long ago that France was a hot spot for retirees because it was economical.

So many excellent points from all different perspectives, thank you.

@ravencajun -- greece is so lovely but the whole social and economic situation there had us worried. instability can be just as unsettling as terror

@robo -- it's one of the reason we're not going too crazy with the budget (although it is higher than we started) -- We are not concerned, per se, to lose 25% of the value of a place but at
the same time we don't want to be flushing money away!

@MtnRedux, @olychick -- yes, I think it is very clear we are better off renting or just staying in hotels/resorts/short term rentals. And we do love to travel around --- but I think it comes down to having a place that feels like home and has your stuff. This is for when we are there in more extended two month stays, in the future/ Nice is a great centrally located coastal city with many flights throughout Europe. Plus drives into Italy and France bring you to Tuscany, Como, Milan, Lyon, Marseille, etc in an easy jaunt. Thus it forms a good base as well.

@beagles -- I know those soldiers with automatic weapons are supposed to make one feel safe, but they do the opposite to me. Saw them in the airport as well....

@lavenderlass --- I want it all! but not the traffic --- we turned down another location because the traffic noise was a bit much. we did see some units with great views but they were a hike to get to a cafe or boulangerie. I grew to really appreciate quick access to the water balanced by streetside cafes and the markets of the
"viellle ville":

@jepensetrop -- moi aussi (a votre nom). You should come down to Nice for the sun!. One of our rentals during this last trip was a Parisian who kept a sea-view flat in Nice. Escape to the sun! We were quite torn by France and Italy, and so I proposed we look on the Cote d'Azur as a compromise.

FATCA is a problem but if you are already committed to paying taxes and not trying to work there it is just some extra paperwork and extra bureaucracy. The issue I think is when you become a resident and are still working -- taxes in France can get complicated. @writersblock -- what type of problems? @snookums -- the cost of living in southern France is lower than in the US, health care is good, and tax treaties are favorable for retirees --- countered by a wealth tax.

Hi Gooster,. Did I ever tell you we, dh and i, chuckle over your name? As I mentioned, we looked at properties in Nice, too, but decided, bc of my mobility issues, to look in Tucson. Apples and oranges, I know. We love Nice. The apt. Is lovely. Great locale.

Dont know, can't say, difficult. I think France will have problems w terror for a long while bc of her colonial past and noble/liberal policies. R.e. Values will be negatively affected. Ot, Did u see cache?

I don't like Adrienne Leeds, not Adrian, bc, among other reasons, she wears a stupid, affected, self aggrandizing, beret. Ooh, can't stand slurpy, saliva dripping Leeds, who prices places way over what I want. Leeds is not about budget purchases but about quick turnarounds. I say this with absolutely no basis for saying so. None, but yuck. Ick pooey. How's that for reasoned and scientific?

i am just not comfortable in offering my 2 cents for such a subjective, pricey endeavor. And you know I love Nice. And we own 4 houses, no rentals. And Charade, with that lovely apartment, is a top ten fave. It's very tough.

What is the terrorism threat in Italy? Could you find an equally wonderful, albeit different, vibe in Italy? Wasn't Italy an earlier contender? Even if you are brave re terrorism, are your hoped for guests equally brave? Spain? Canaries?

It is likely that I would do unwarranted racial profiling in my head. Totally unfair and wrong. I'd never do it with someone I knew but I might make up stories in my head while walking down the street. That might make me scared, in a real, not theoretical way. Just saying and projecting.

"the cost of living in southern France is lower than in the US" possibly true now, but that could change at any time. (I am not sure that is a true statement but I believe it to be true for the places that you have considered living in the US. You probably aren't considering the backwoods of Alabama, Arkansas, Mississippi, etc.) and making the decision to move, I would consider the COL but not count on it.

I think you make the decision of where you want to live and then examine whether or not you could live with the financial consequences in a lawful and tax efficient manner. That said, taxes and treaties and everything else can change no matter where you go.

@westsider40 -- thank you for your perspective as someone who has shopped there as well. Are your other properties in the US? It's a long journey from the US, I agree. I also agree about the history of colonialism/polices imho complicated by the resulting social structure issues that have contributed to their ongoing problems. BTW, I haven't seen Cache. I'll see if it is available for streaming.

Italy has had some issues, but is probably better than other countries (many areas are economically depressed). It's still a contender and Sicily was high on the list. The buying process is a bit more complicated (to derisk) but prices are lower. You make an excellent point about fear of guests. And, even when we lived in Switzerland we did not have many guests (six years ago).

@practigal -- you are right, many areas of the US have a much lower cost of living than where I've lived, and you are right I'm not counting on it staying low. But like the US, the more rural areas of France (and even more so in Italy), the prices drop dramatically compared to the larger cities. And taxation is high, as well, which wipes out those gains. We're in a high tax, high COL state so anything else looks cheap :) But we've been lucky enough that it's not going to be a deal breaker, even when the exchange rate inevitably swings again.

My understanding from friends overseas is that even though the taxes are high they feel they get a lot for them, one being medical and long term care which can wipe people out in the States.

"the agents and consultant (red beret lady from HHI)"

Wait, what.....you're hanging out with Adrian Leeds?!?! She fascinates me on HHI, the beret and the red lipstick, and her joie de vivre. Love when she tells some poor midwestern naif 'well, you're gonna have to raise your budget' hahahaha.

So what's Adrian really like? Inquiring couch potatoes want to know.

Bonne chance!

Our houses are all in the US. Our unused beach cottage is for sale. Last kid has been out of state for 7years. Disabled daughter lives in our small condo. In 2014, we bought a retirement dream to us house in Az. Not spoiled jet setters at all, ha. But we love Nice and wanted to winter there. Oh and maybe spring, summer and fall, sometimes, too.

I 'aged'out of Europe although dh of40 years is years younger. It would break my heart to not be able to walk for miles and days and I cannot. I don't think that Europe in general is easy for slowish, stair avoiding seniors.. Small towns, yes, but we like cities. In 2014, I spent a few weeks in Eastern Europe and did 90% of my target sites so, not bad but not easy. Our rejection of Nice was based on my mobility issues, not financial or terrorism.

Just an update, we eventually had to pull out of the sale due to an issue discovered during the closing process. We're off to hunt again.

Must be a sign that something better is waiting for you!

Spared a headache. Congratulations.

Good Luck in finding something. What an adventure for you.

Oh, too bad, but I did sense a little hesitation about it, so hopefully there's something waiting for you that is exactly what you want.

Hoping you find what you want soon. Thanks for the update.

Good luck, Gooster. There's always another one, always another, always another. You'll find it. But that was beautiful.

Thanks all. The hunt resumes next week. Perhaps this is all for the best and a perfect place awaits. .

Good luck on the new hunt. Sorry the other place didn't work out but you're right, perhaps it is for the best. Forget it and move on.