I must admit that wasn't too interested in buying real estate in Italy, until I actually lived there. Then I started contemplating buying a vacation house in charming Italy. I am now dead set on eventually buying a house in Italy. My heart and soul is Italian.
But I still scratch my head and wonder: Where do I start looking? Lots of resources offer Italian villas and apartments for rent, but where are the listings to buy? What online resources are there for the discerning foreign property investor?
Having lived in Milan and travelled around Italy for a bit, I noticed so many charming mountain and seaside holiday homes owned by non-EU foreigners, (take Clooney's place in Como for instance.) Luxury homes and villas are all over Rome, Florence, Tuscany and Liguria and ARE open to non-EU buyers.
Everything from simple apartments in Lazio to multi-million (euro) dollar villas in Umbria and can be cheap and affordable, an investor or semi-retired professional's dream, provided that he or she can find the best home listings and cut through the annoyingly complex EU red tape.
That is the challenge. Finding reliable Italian realtors can be difficult and sorting through Italian real estate bureaucracy can be the toughest things for overseas property buyers.
I stumbled across a few reliable internet resources exist to help non EU citizens sort out the complexities of finding Italian property listings and learning about Italian property law. Italian Home Source is one comprehensive source to help investment-minded North Americas get their foot into the door of the Italian property market.
The site features discounted and cheap, affordable Italian propery listings, coupled with the real estate contacts and property law information. It offers the interested investor or re-seller an idea of what the Italian property market offers.
There is hope for those of us who want to retreat to 'la dolce vita' and invest in the EU. The Euro is strong and property values in Europe are on the rise, making buying an affordable Italian home an excellent investment and idea.
And Italian home owners do default on mortgages just like everyone else. Finding foreclosured and pre-foreclosured homes in Italy are difficult to find, but Italian Home Source manages to list some of them. I curiously subscribed and particularly found the (English speaking) real estate contacts and the Italian property law guide, mortgage advice etc. as useful, if not more, than the actual home listings.
While everyone should carefully review ANY paperwork connected to property purchase before signing the dotted line, the legal information offered was accurate and the contact numbers were helpful, a good start for prospective and foreign Italian home owners.
Ready to make the move? Make a trip to Italy first not just to find your dream house, but to get a taste of the quality of life and culture in Italy. Seek independent legal advice on the subject of Italian home ownership first, and compare local listings to those you find internationally. Buying Real Estate in Italy-A Legal Overview is an excellent online article about the legal specifics.
If you are seriously feeling out the Italian property market and look for a beautiful and affordable Italian home, check out Italian Home Source. It's worth a peek to at least point you in the right direction.
In bocca al lupo!
But I still scratch my head and wonder: Where do I start looking? Lots of resources offer Italian villas and apartments for rent, but where are the listings to buy? What online resources are there for the discerning foreign property investor?
Having lived in Milan and travelled around Italy for a bit, I noticed so many charming mountain and seaside holiday homes owned by non-EU foreigners, (take Clooney's place in Como for instance.) Luxury homes and villas are all over Rome, Florence, Tuscany and Liguria and ARE open to non-EU buyers.
Everything from simple apartments in Lazio to multi-million (euro) dollar villas in Umbria and can be cheap and affordable, an investor or semi-retired professional's dream, provided that he or she can find the best home listings and cut through the annoyingly complex EU red tape.
That is the challenge. Finding reliable Italian realtors can be difficult and sorting through Italian real estate bureaucracy can be the toughest things for overseas property buyers.
I stumbled across a few reliable internet resources exist to help non EU citizens sort out the complexities of finding Italian property listings and learning about Italian property law. Italian Home Source is one comprehensive source to help investment-minded North Americas get their foot into the door of the Italian property market.
The site features discounted and cheap, affordable Italian propery listings, coupled with the real estate contacts and property law information. It offers the interested investor or re-seller an idea of what the Italian property market offers.
There is hope for those of us who want to retreat to 'la dolce vita' and invest in the EU. The Euro is strong and property values in Europe are on the rise, making buying an affordable Italian home an excellent investment and idea.
And Italian home owners do default on mortgages just like everyone else. Finding foreclosured and pre-foreclosured homes in Italy are difficult to find, but Italian Home Source manages to list some of them. I curiously subscribed and particularly found the (English speaking) real estate contacts and the Italian property law guide, mortgage advice etc. as useful, if not more, than the actual home listings.
While everyone should carefully review ANY paperwork connected to property purchase before signing the dotted line, the legal information offered was accurate and the contact numbers were helpful, a good start for prospective and foreign Italian home owners.
Ready to make the move? Make a trip to Italy first not just to find your dream house, but to get a taste of the quality of life and culture in Italy. Seek independent legal advice on the subject of Italian home ownership first, and compare local listings to those you find internationally. Buying Real Estate in Italy-A Legal Overview is an excellent online article about the legal specifics.
If you are seriously feeling out the Italian property market and look for a beautiful and affordable Italian home, check out Italian Home Source. It's worth a peek to at least point you in the right direction.
In bocca al lupo!
(Lake Garda depicted, courtesy of freefoto.com)
Once you have seen a property you like, then before making an offer, do the following:
ReplyDeleteGet an English speaking lawyer who will act in your interests
Find out how long it has been on sale. In Italy it is quite common for a house to be on the market for many months, even years! Have a look at dates on photos.
Look it up on the internet and see if it is on with other agents at different prices. If it is with another agent more cheaply, then this price has to be the starting price for negotiation.
Many vendors in Italy set their own prices. Check similar properties on the internet to get a feel for typical pricing of similar houses. Properties are often valued per square metre depending on location and type. If in Italy, you can look at a magazine like Ville e Casali for going rates.
Find out if the property has one owner or multiple owners (e.g. relatives who have inherited the house). Multiple owners can spell trouble.