The Rental Market

Of course, the price greatly increases the closer you get to the more popular locations. That being said, it can still be about half the cost to buy an apartment in Paris than in New York City, even though rents and other living expenses are comparable to the Big Apple.

In addition, if money is no object, you can buy a larger renovated home or farmhouse in the countryside or in a charming village for a few hundred thousand on up. Expatriates who have relocated to France also talk about the high fees (as much as 10 to 15 percent or even more) associated with buying there, so this will need to be factored into your financial plan.

Other Living Expenses

France has a reputation for being very expensive for daily living expenses. This is true when it comes to food, entertainment and clothing, in large part because the country has a very high sales tax on items, which is also known as TVA (taxe sur la valeur ajoutée). The rate, which is just under 20 percent, is usually already included in the prices charged on items in France, rather than added on to the total, the way it is in the United States.

Also keep in mind that some of the bigger expenses, such as rent, health care and education, are subsidized by the government, actually making them more affordable; so in the end, things even out somewhat.

A single adult can expect to spend about $600 a month on meals, groceries, transportation and entertainment in France.

You should also plan to allocate money in your budget for shopping, since Paris is the fashion capital of the world. You can find a wide variety of designer wear and clothing at all price levels.

What You Need for Residency

It’s relatively easy for an American to retire to France, as long as you have all of the proper documentation and paperwork in order. You will need check with a French consulate office in the Unites States to request a long-term visa. You will also need to show that your income will be enough to cover your living expenses. Usually a few statements from your pension will be adequate. In addition, you will need proof that your health insurance will be applicable in France, or you will need to purchase a plan from a French insurance provider.

It is important to note that if you retire to France, you will be required to pay taxes there, which will be calculated on 90 percent of your pension. You should speak with a financial expert to find out more about this and to consider strategies that will be most beneficial for your situation.