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Many people who have a dream to buy property in Italy have a particular vision about the type and location in which they want to buy property in Italy. It can be from a lifelong dream or a spontaneous decision where the belief is that to buy property in Italy will lead to a better quality of life. Whatever reason you decide to buy property in Italy for, no one should ever buy property in Italy without doing their research thoroughly first, and having the best advice and support possible. Here's an advanced guide to help you buy property in Italy.
Described as "Europe's kinky over-the-knee boot" , anyone looking to buy property in Italy has probably already been seduced by the culture, history, fashion and cuisine of this fascinating country. Italy really does seem to have everything an investor could wish for; castles and rivers, beautiful beaches, historic villages and cities, art and architecture, skiing and sun. But because Italy has all of these things, you need to make sure you find the right place with the right connections. When you buy property in Italy, it needs to have all of the amenities, transport connections and activities to do that you wanted in the first place. It is far better to make sure that your location ticks all the boxes, rather than compromising and regretting your decision later.
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When you go through the process to buy property in Italy, you will need to learn the language used in Italian property and real estate. Learning the names of the property types will help you to buy property in Italy that meets all of your criteria, with no hidden surprises. Here is a list of property names and their meanings:
- Appartamento: Apartment
- Bilocale: an apartment with two rooms
- Casa: generic term for house or home
- Casetta: small house
- Casale: farmhouse or small hamlet (may also be referred to as a Cascina)
- Castello: Castle
- Casa Bifamiliare: Semi
- Casa Canonica: a vicarage or minister's house
- Attico: Attic
- Mansarda: loft conversion
- Monolocale: studio flat or bedsit
- Villetta a Schiera: terraced house
These are just the basic property types, so make sure you learn as many of them as possible before to start looking to buy property in Italy.
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When you look at where to buy property in Italy, you need to look at all of the different regions. Most of the different regions in Italy have their own customs, history, language and cuisine. So finding which region you would like to buy property in Italy is one of the first things you should do.
For people who want to buy property in Italy, whether it is to rent or use as a home, the Amalfi coast is a good example of an area that has idealistic qualities, and all next to the glorious Mediterranean coastline.
If you want to buy property in Italy that is more rural, then the region of Tuscany is a good place to explore. Situated in western Italy, north of Rome and south of Genoa, the region has several major cities popular with tourists and other investors who buy property in Italy. Florence, Pisa Siena, Lucca, Arezzo and Pistoia are part of a region that is now a major cultural centre, making it a good reason to buy property here in Italy.
There are some great and affordable ways to buy property in Italy. You can buy property in Italy to restore, such as a large country house in Casa Regnano, which is situated in Ascoli Piceno. For €195,000 you can buy a 300 square meter brick house, which is partially restored. With the large town of Tolentino nearby, it is well connected and has the option of buying more land around it. Deals like this are easy to find in Italy, if you are prepared to take your time and explore each region thoroughly.
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When you go through the first stages to buy your property in Italy, you need to get help and advice from the right people. As well as employing a lawyer from the UK, you will need a notaio, (a public notary) and an avvocato (like a solicitor). These experts are essential to help you buy property in Italy, as they will validate contracts and deeds and register the sale. You need to make sure that you include their fees in your budget, so you don't get caught out and miss any vital step. If you don't take all of these factors into account, you could find it much harder to buy property in Italy.
You also need to find out about taxes involved that people who buy property in Italy have to pay. Italians have to pay 45% of their gross income to the authorities. The best way to avoid this is to move cash into your Italian bank account as you need it. Another tax you will have to pay when you buy property in Italy is ICI (Imposta Comunale sugli Immobil), which is the Italian equivalent of council tax. ICI is based in the value of your house. You also need to make sure that you are insured when you buy property in Italy. This includes personal and property insurance.
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It can be a daunting process if you decide to buy property in Italy on your own. The best advice is to enlist the services of a professional, independent company that specializes in helping people to buy property in Italy. Find a company that will tailor their service to your needs, and remember that it is in their best interests to help you buy property in Italy that is within your budget and covers what you want from your investment. Not only will they help you with your search to buy property in Italy, but they will also help guide you through the stages involved when you buy property in Italy and make sure all legal processes are covered. They will help with contracts, planning and building regulations, insurance and advice on architects and building contractors. It is advised that you add 10-15% to your budget to cover costs, which will include any fees from such agencies. With a professional team by your side, you will have that extra insurance and expertise to help you buy your property in Italy without the extra worry of going through the process on your own.
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