Common questions people have when buying a property in Italy
Italy is still one of the best-loved countries to buy property in. Whether you will move to the new home permanently or use it as a holiday home, spending time in Italy is always a joy.
Of course, the Italian property market might be a lot different to your own and this could leave some questions which you need answering first. But which are the most common queries people have when buying a property in Italy?
Where in Italy should I buy?
Location is always super-important when buying any property – this is just as true in Italy as anywhere else. Luckily, the country has many beautiful regions to buy property in, from Campania to Lombardy to Piedmont. The right location is different for everyone though as it depends on which part of Italy you have in mind and also the lifestyle you wish to follow.
If you are buying property to rent out or sell in the future, choosing a location which people will find attractive is also crucial. If you do not know the different parts of Italy too well, getting advice from experts on the property market there is wise.
Are there any extra costs to pay when purchasing Italian property?
There are extra buying costs when purchasing Italian property. The general rule of thumb is to put aside 10% of the sale price to cover this. Purchase tax is one fee to pay but this varies depending on whether you plan to reside in Italy or treat it as a second home. Other buying costs which you will need to cover include VAT on a new build, notary fees, registration fees, any translation fees and your agent fees.
What is a notary?
Property transactions have to follow a legal process to be valid. A part of this is the involvement of a notary in the purchase. Notaries are lawyers who the Italian Government employ to conduct the legal transfer of properties. As noted above, the buyer has to pay the notary fee and it is also up to them which notary is used.
Do you have to get a survey done before buying in Italy?
The simple answer is that there is no legal obligation for a survey to be done pre-sale. You can ask for one to be completed though and it would then be up to the buyer to pay for it. In Italy, surveyors are known as geometras and will check the condition of the property before you buy. As property is ‘sold as seen’ in Italy, most people will pay for a survey to be done.
Let Terragente Real Estate guide you through the process
Buying property anywhere is always a complex process, but buying in a foreign country can seem even more confusing. If you do not live in Italy but want to purchase a house or villa here, why not let the experts at Terragente Real Estate help? We know the Italian property market inside out and have helped many people find their dream Italian home. Contact email@example.com for more details.