Many people want to move abroad or in this case Italy, but have no idea how the country works with real estate. Maybe you are also one of the Dutch who has decided to emigrate to Italy in the new year and you want to buy a house in Italy. How does this work and can you actually just buy Italian real estate?
Are you thinking of buying or renting a house? emigrate to Italy? In this article we discuss everything related to buying a home in Italy.
What exactly are you looking for?
Are you looking for a home or a second home in Italy? For example, do you want to buy a second home there first and then emigrate there? Everything is possible and it doesn't really matter why. Emigrating to Italy is great, but a holiday home is too!
House hunting
For a house in Italy you can enter a search query online. In Italy you can easily search for homes online. People often place an advertisement on the website privately, but this can of course also be done by real estate agents. By advertising on such websites, the selling party naturally ensures that the home is sold as quickly as possible. The homeowners put the photos and information online and you can search according to your wishes and budget.
Pay close attention!
It is good to know that you should not rely on the photos, because many aspects of the property are not shown in the photos. Are you interested? Then it is always better to contact the owners first and make an appointment to view the property. Many of the properties that are offered in Italy do need a small renovation.
An Italian real estate agent
Does the presence of a real estate agent give you peace and security? Then the best option is to involve them from the beginning so that they can assist you throughout the entire process. Of course, this will cost something, but the help you get is definitely worth it.
Are you interested in a property?
In Italy, homes are often for sale through different agents and therefore they do not have a key to the homes. This can make arranging a viewing very messy and requires a lot of patience to realize your dream. The language will also make it all a bit more difficult. Also note that when purchasing, you have to pay the agent approximately 3% of the purchase price as brokerage.
House prices
House prices in Italy vary greatly from region to region. One region is dirt cheap while another can be very expensive. For a small apartment in Milan or Rome you will probably end up paying more than if you buy a villa somewhere in the south of the country with a sea view, a swimming pool. A heated pool even!
Advantages of more expensive regions
However, buying a home in the more expensive regions often brings additional benefits. Think of employment opportunities and accessibility. In many of the Southern European countries, more and more people are moving to the big cities to work, causing the smaller villages to become increasingly empty.
Your budget
Look in advance at your own budget and at the areas in the country. Do you want to live in the north of Italy, do you want to go to popular Tuscany or do you prefer the quiet south? It is also wise that if you are going to emigrate, you first make sure that you have already sold your house in the Netherlands and only then start your new search. This will allow you to focus better on your emigration and you will no longer have to think about your responsibilities in the Netherlands.
It happens more often than you think, but many people leave for abroad unprepared and therefore encounter unnecessary surprises.
Applying for your mortgage
Applying for a mortgage in the Netherlands for an Italian home is not very difficult, but almost impossible. In Italy, getting a mortgage on a house is also not very easy, but it is possible. It is limited to approximately 60% of the purchase price of the home. The rest, such as renovations, you have to finance yourself with your own contribution. With a contribution of your own money, it is therefore easier to take out a mortgage in Italy.
Make an offer
In Italy this is called 'proposta d'acquisto' and the offer is made in writing, just like in the Netherlands. Such a 'proposta' is a document that contains the details of the buyer and seller and also a lot of information about the house. In fact it already looks like a purchase contract. This form is signed first by the buyer and then by the seller. A deposit is also made.
A research 'verifiche'
This process involves research into the conformity of the home. This is very important, because it is wise not to buy a house where a 'verifiche' has taken place. This research is carried out by a 'geometra'. In the Netherlands, the architect, supervisor or contractor does these measurements. He/she is an expert in the field of construction. The 'geometra' will look at the technical drawing of the home and examine the home.
The purchase contract 'compromesso'
If everything went well during the investigation, you will of course want to continue buying the house. It is wise, but not mandatory, to have everything recorded by a notary. When signing your purchase contract, a down payment must also be made. This is approximately 30% of the purchase price.
'Rogito'
At the notary, a 'rogito' in Dutch deed must eventually be signed and you will then receive the keys to the house. Do you not speak Italian well? Then it is wise to hire an interpreter for this. After signing, the remaining amount of the purchase price must also be paid to the owner of the house. After this, the notary will start working on the proof of ownership, because the house is now of course your property.
Finally..
Buying a home in Italy is a little bit different than in the Netherlands. This is actually done differently all over the world and it is simply wise to delve into how the process of buying a home is completed in Italy.
If you do your best to understand this process and are already somewhat aware of how things work in Italy, you will ensure that everything in Italy will be a little easier for you later on.
Do you have any questions?
Do you have any questions regarding emigration to Italy? Then it might be useful to look further on our website. We have many articles that can help you with your emigration to Italy.
It is also good to know that we also have many articles about other countries on our website!
