If you are dreaming of owning a piece of Paris, consider the savvy move of renting out your cellar to help balance those monthly expenses, besides renting out your apartment when you are away.
Many Parisian apartments come with a cellar ("cave"). A cave is a room usually situated beneath one's apartment building.
Stepping down to a Parisian cave can evoke a sense of going back in time, as many caves have remained largely untouched for centuries. Some still feature dirt floors, contributing to their historic charm.
Parisians usually use their cave as extra storage space. It can come in handy (to store suitcases, old toys, souvenirs, old stuff they do not want to get rid off), especially as an addition to a small apartment. The environment of a cave can provide ideal conditions for storing wine bottles. Finally, a solution for the eternal struggle of finding a proper place for storing those Burgundy bottles!
Some savvy Parisians rent out their unused cave as a source of extra income. Others include the cave when renting out their entire apartment (furnished or unfurnished) to command a higher rental amount.
The monthly average price for a cave in Paris is 20€ per m2, depending on the arrondissement, size and condition. Petite caves under 5m2 tend to command a higher price.
Note that some Parisians also rent out their parking space, but those usually do not exist in typical 19th century or older Parisian apartments.
🥐 Conclusion: If you dream of buying a home in Paris from America or elsewhere but, like most people, you are not a millionnaire, renting out your cellar - with or without your apartment - is another clever way to optimize your Parisian investment and offset monthly expenses.
Happy property hunting, and may your French real estate journey be as smooth as a buttery croissant! 🥐 🇫🇷
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