Real Estate In Italy

Real Estate In Italy
06-17-08

When you think of romantic getaway destinations, Italy is no doubt one of the first places that comes to mind. Its beautiful lakes, the nearby Mediterranean Sea, the majestic Alps, and the country's ancient cities teeming with history have a sort of fairy-tale appeal that cannot be denied.

For those wanting to live in Italy, whether short-term on vacations or long-term as a more permanent residence, there are a few things you will want to keep in mind as you search for a property.

First of all, there are no restrictions on foreign ownership of real estate in Italy. This means that buying and selling property is pretty much a straightforward process. It is a good idea, however, to obtain an independent lawyer to work on your behalf. They will ensure that you get a fair price for your property, and they can also translate any necessary documents into English so that you can understand them.

You will also want to find a good real estate agent in Italy. They will help you get a better perspective on the market there and help you find a selection of properties that meets your criteria and price range. If you have never been to Italy before and are unfamiliar with the real estate market, this is a must. Your agent can be of invaluable assistance in helping you avoid paying too much for a property.

If you plan to buy a rural property or a property that needs renovation, be sure to ask the necessary questions. Make sure you check out the title and deed, what kind of access there is to the property, what the boundaries are, and whether or not the property needs to be surveyed and appraised before you can make an offer. If the property needs renovation, you should also always get some cost estimates. Building expenses in Italy are very high and can easily spiral out of control. You definitely want to know where you stand with your finances before you commit to anything.

If you are planning to purchase a home in Italy as a permanent residence, you will want to check into residency issues before making any commitments. Residency status in Italy carries property tax benefits with it, so settling your residency status before making your purchase could save you a considerable amount of money.

Once you have found a property that you are interested in, you can make an offer. Keep in mind that if the offer is accepted, it will be valid for 2 weeks. During this time, preliminary contracts will be created. Once you get the contracts, you should have your lawyer look them over. If your offer is accepted, you will also need to put down a deposit. At that point, you will pretty much own the property and will begin making payments once all the paperwork is finalized.

Whether you are looking for a residence of some type for yourself or you want to rent out your home as the ideal spot for a romantic Italian honeymoon, Italy is a great place to invest in real estate.

Mark E. Moebius
Miljonair Homes
Custom home builder St. Louis
3451 St. Albans Rd.
St. Albans, MO 63073
636.300.9000