Buying a property in Italy is a great prospect that can prove to be daunting. There are many things to consider, especially that you want everything to go well. One of the best things you can do at the beginning to from the mistakes of others. Here you will find the most common mistakes made by buyers in Italy and how not to reproduce them.
1. Carefully choose your property in Italy
Everything starts obviously by looking for a good. Some buyers do not bother to do a lot of research and therefore do not have a good idea of the market prices and what they can get for the budget they have. But here on Italy, you’re in the perfect place to browse through your many options and get a clear idea of what’s available. Take the time to understand the market and do not be fooled if, after a few months of research, you have not yet found the house of your dreams. It can be long and difficult to find the property that suits you in Italy. Do not lose heart! You will get there.
2. Do your calculations well
Then you will be faced with the problem of the budget. Quite a few buyers do not really appreciate the real cost of buying a good abroad. Be aware that the purchase of a property in Italy is accompanied by various costs, which represent between 10 and 20% of the purchase price. This includes registration fees, cadastre fees or stamp duties, notary fees, legal fees (for independent advice), real estate agent commission as well as IVA (the Italian equivalent of the VAT) if you buy your property from a real estate developer. Consider this extra 10 to 20% in your budget from the beginning, which will save you an unpleasant surprise later.
3. Consider a negotiation
The good news about fees is that many buyers make the mistake of thinking they can not negotiate the advertised price. All the more, given the current climate, with Italy having a buyer’s market, you will have to consider negotiating the purchase price. Do not wobble and do not accept a price midway through negotiations for fear of losing the opportunity to acquire the property. At the moment, you are in a strong position as a buyer in Italy.
4. Ask the help of professionals
Once you have found the house of your dreams, do not make the mistake of not hiring a surveyor ( geometry ) to check the complete condition of the house as well as a notary ( notaio ) to verify that all conditions legal sales are fulfilled and advise you in the signing of important documents. Know that some real estate agents provide the services of surveyors and notaries and include in their fees. If your agent has not planned these services, do not forget to ask them for yourself.
5. Do not give up
Above all, remember that thousands of foreign buyers like you have managed to buy a property in Italy and are completely satisfied. Do not be discouraged by any pitfalls you may encounter. Thousands of people have managed to acquire the house of their dreams in Italy , it’s at your fingertips!