If you live in a big city, you’ve probably heard the term “pied à terre,” or maybe you’ve seen one. But what is it, exactly? Are they as fancy as they sound?
A pied à terre is a luxury apartment or condo in a big city that someone uses as their second home. People generally invest in pieds à terre for convenience, proximity to work, to visit a particular city, or as a home away from home. Read on to learn about where you can find pieds à terre and how you can choose one that makes the most sense for you.
Pied à terre meaning
The pied à terre (pronounced pee-ay-dah-tare) is a French phrase that translates to “foot on the ground” (pied translates to foot, and terre translates to ground or earth). The plural of pied à terre is pieds à terre, or “feet on the ground.”
Pied à terre are typically apartments, condos, or co-op units in luxurious buildings in big cities that people use to travel, visit family, or work. Depending on your unique needs, you can buy or rent a pied à terre. They can also be an investment property, although some regions have restrictions on when and how people rent out pieds à terre. Most cities don’t allow short-term rentals, but long-term rentals are more common.
Before you invest in a pied à terre, make sure to check state and city laws and the building’s rules about subletting or renting this type of home.
Where can you find pieds à terre?
You can usually find Pieds à terre in larger cities. They are common in Hong Kong, Los Angeles, New York, San Francisco, Singapore, and many European cities like London and Paris.
Why do people own a pied à terre?
Who wouldn’t want a luxurious apartment in a fun, new city? Below are some common reasons people rent or buy a pied à terre.
Commuting
Business travelers often invest in a pied à terre. Sometimes people split their time evenly between two different cities. Since a pied à terre is usually cheaper than frequent hotel stays, they are…