Tell me what you think of a pied-à-terre

[Anonymous]

Have any of you done this, especially as empty nesters? It’s very appealing to me but I don’t know anyone who has done it.

[Anonymous]

I haven't done it but it seems like the details would matter.

Rent or own? Like a place in DC when you live in Gaithersburg? NYC or Paris when you live in DC? For vacations? Near your office when you're mostly teleworking elsewhere? (I know empty nesters who have sold their DC house, mostly moved to their vacation house a few hours from DC, then rented an apartment in DC for when they needed to come to the office.) If you owned, would you rent it out when you weren't there?

[Anonymous]

In Manhattan pier a tiers very popular. Usually coops with very small studios apts that ban subletting.

My old CEO had a 200 studio as wife loved broadway plays and he go to board meetings in NY.

Coops charge maint by SF so smaller better. His 1/2 the building pied a tiers.

[Anonymous]

I dream of having one in NYC!

[Anonymous]

We’d do it for me, if the financials work out. Would also be fun for date nights or to take my kids out in DC for a play and then have a fun “sleepover.”

Right now too much of an unnecessary expense.

[Anonymous]

I’d love to have one in Miami

[Anonymous]

Highly recommend. My wife loves it. We save a ton of money/time without booking hotels/having to pack bags. Plus, my girlfriend loves it because she has a place to stay even when I am not in town.

[Anonymous]

We had one in Logan when we lived in the ‘burbs. It was cool. Eventually we sold our place in the ‘burbs and move into DC permanently. The ‘burbs are hell if you don’t have kids.

[Anonymous]

It only makes financial sense if the total cost of ownership is less than the total cost of an acceptable hotel in the same area for the same number of days use. The math doesn't work for most people unless you expect to spend a lot of time in the specific place you're considering, year in and year out.

[Anonymous]

Yeah, the idea of it sounds great and we talked about moving buying one when the kids got older and moved out.

But now that is approaching, and with the advent of cheap hotels and Uber, it really doesn't make sense to do it in your own city, and in another city, it really only makes sense if you use it a ton - I'd rather just book a nice hotel.

[Anonymous]

Anonymous wrote:It only makes financial sense if the total cost of ownership is less than the total cost of an acceptable hotel in the same area for the same number of days use. The math doesn't work for most people unless you expect to spend a lot of time in the specific place you're considering, year in and year out.

Not true. You left out the convenience factor. Who wants to make reservations, check in, check out, and pack every time?

[Anonymous]

Anonymous wrote:Highly recommend. My wife loves it. We save a ton of money/time without booking hotels/having to pack bags. Plus, my girlfriend loves it because she has a place to stay even when I am not in town.

Hmmmm…

[Anonymous]

Anonymous wrote:Highly recommend. My wife loves it. We save a ton of money/time without booking hotels/having to pack bags. Plus, my girlfriend loves it because she has a place to stay even when I am not in town.

My wife and gf don't like it, because they fight over closet space.

[Anonymous]

Sounds yummy.

I have a theater kid and I dream about her moving to NYC so I can have a base there.

[Anonymous]

I have one in NYC. I’m there now. It’s great to be able to jump on the Acela and go without having to worry about carrying a bag. The kids (college-aged) love it for spring break and the summer. DH and I are here at least one week per month.