Useful Tips to Buy a Property in Italy

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Buy a Property in Italy

Italy, the country of la “Dolce Vita” of the great director Fellini has a unique appeal for many people who come here for a holiday or decide to invest in property. Art, architecture, food, and music are all deeply ingrained in Italian culture. The proudly held traditions are actively preserved by the Italian people. 

Any town you visit will have a distinctly Italian flavor to the historic center, just as you can admire the beautiful views and relax in lush green areas or have a good time at lovely beaches.

It is not by chance that in this country rich in culture and in terms of natural resources, exploring the different Italian region is the most thrilling aspects. Anyway, if you desire to buy a house to spend time with your loved ones or as an investment, you have to pick the perfect location.

Here are useful tips for buying a real estate in Italy: how to pick your ideal house and how the purchasing process works.

Things to consider before buying in Italy

Are you planning to buy a property in Italy? Then, it is worthwhile to sit down and work out the finer points as well as more general issues like where you will buy a house and the kind of property that can fit your needs.

The first aspect to consider is why you are buying in Italy, i.e., what is the motivation: maybe you want a holiday home to spend a lovely holiday, you prefer to buy a property to open a guest house or just as a rental investment? Asking these questions will be a good starting point for your final decision.

A second point to be examined is the use you have in mind for your property in Italy, since it may affect where and what kind of real estate you choose. If you want a house to spend weekend way, try to find a location with a nearby airport. But, if you are interested in buying a property for investments and maybe later for your retirement, so the best solution is to select an area with high yields. For example, many people decide to buy a home in Tuscany Italy to rent and then to enjoy as a holiday home.

When the location is picked up, you have to think about what are the must-have for your estate in order to narrow down your search for a property. Maybe you dream about a property with a private pool, you would like to buy a rural home in the countryside or a beautiful villa by the sea. Fortunately, Italy is the ideal nation to provide all of this.

Furthermore, you have to consider some practical aspects, such as how many bedrooms you need, if there are public transport links in the nearby and if you want an outdoor space. 

Last but not least, the budget is a crucial point in buying a property in Italy. So don’t forget to know how much you can exactly afford to buy a house and what are the prices per square meter.

Purchasing a property in Italy: How it works 

When you have selected the ideal property in Italy for your purposes, then you need to get familiar with the process for purchasing a home in this lovely country.

People who are citizens of the European Union (EU), the European Free Trade Association (EFTA), have a valid residence card or residence permit for specific reasons, or stateless people who have lived in Italy for more than three years could purchase a home in this country.

People who want to buy a property in Italy must have their own “Codice Fiscale”, an identity number calculated from your personal data, passport or equivalent travel documents.

If the buyer is unable to read or understand Italian, the notarial deed must be written in both Italian and the foreign tongue in order to protect the buyer. In that case, an official translator must perform the transcript and be present when the notarial deed of sale is signed. Anyway, if the notary is fluent in the foreign language, there is no need of an official translator.

For foreign buyers that have a current account in Italy, the procedure for buying a house will be the same as for Italians, otherwise, it is possible to open an account directly in Italy to issue bank drafts for full or down payments. 

The negotiation process begins by putting up a written purchase offer that, if accepted, is legally binding. Then, cadastral checks are made in order to verify that the property is regularly registered, and you sign the “compromesso”, a document that outlines the agreed-upon sale price, the completion date (“Rogito”), as well as any details and rights related to the property.

Even if purchasing a home in Italy may seem difficult, you should know that with the support of a specialized real estate agent the procedure will run smoothly and quickly.