There is no argument, Italy is a beautiful country. With its stunning landscape, beautiful lakes and mountains and its ancient cities abundant with history, Italy offers plenty of romantic appeal as well as activities for your whole family. The climate of Italy is perfect, graced by the warm waters of the Mediterranean Sea.
With all that Italy has to offer, why not consider owning property. There are currently no restrictions on foreign ownership on real estate. This means that buying in selling property in Italy is pretty much straight forward. I would recommend retaining an independent lawyer. One who will work on your behalf. The lawyer will be able to translate documents from Italian to English. By working for you, he will do whatever he can to negotiate the best price for the property that interests you.
However, if you are planning on making a move to Italy there are some details regarding residency status that you will want to address. By addressing this issue it will help out in saving a lot of money in taxes, mainly because you will be paying Italian taxes.
Choosing a Real estate agent will take some time. I would assume you are planning to visit the area of Italy in which you are making the purchase. Do you have relatives that live in Italy? How about friends who visit or have bought properties? If not, you can always use the internet to research potential realtors before you make your visit to Italy. In fact, I highly recommend that you research the area that interests you and find out what it has to offer.
Italy has much to offer. Always think about the area in which your property is located, just like here in the States. Remember, this is completely new to you. If your Real Estate agent suggests that the property is not right for you or not worth the purchase, you should heed that recommendation.
If your dream has been to purchase a nice rural Tuscan Villa, keep in mind several important factors. Some are access to the property, does it need renovations, and can the property be properly surveyed and appraised. If it does need to be renovated, you should request estimates for the work. Construction costs in Italy are very high and before you know it, they can spiral out of control. It makes sound sense to look at where your own finances stand before committing to this type of property.
Now that you have done all your due diligence and are ready to make an offer on a property that interests you, keep this in mind. Once an offer is accepted, it will be valid for two weeks. Once you receive your contract, make sure your lawyer reviews it.
Whether you are looking to make a new home purchase, a second home or just a vacation rental property, Italy is a fabulous place to invest in real estate. Italy is always buzzing with activity. And of course, who can forget the air of romance.
