Tips on buying a cheap Italy house from those who've done it
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Loading... - Nathan Price
- 07 Dec 2021
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While some have been brave enough to take the leap and snap up a house ranging in price from one to a few thousand euros in a rural Italian village, others are likely to have been deterred by the fear of something going wrong.
But are there any red flags potential buyers should be looking out for when deliberating over purchasing such a home? And how do you know when you're treading on slippery grounds?
When it comes to offering advice and invaluable tips on this particular subject, no one is better placed than those who've actually done it themselves.
In January, Italian town Biccari made headlines when it began selling off both dilapidated one euro homes and ready-to-occupy houses in need of just minimal fixes - the latter being the most successful.
Mayor Gianfilippo Mignogna chose to offer up the homes in a bid to revive the ailing town, which has seen its population dwindle over the years as numerous residents left to find work in Italy's cities or in other countries.
Mariano Russo, an Argentinian with Italian roots, purchased a cozy 55-square-metre, two-floor house in Biccari for €7,000 (around $11,100 AUD).
Ms Russo's home was refurbished when it was sold - even the walls were freshly painted - and has a panoramic terrace, while the entrance is situated on a picturesque alley of the town's historic center. Aside from the purchase price, the notary for the purchase deed cost him an extra €3,000 ($4700 AUD).
"It's already livable. We might just modernise the grid running water system and heating, perhaps fix parts of floors," says Ms Russo, a manager of Argentina Per Il Mondo, an organisation uniting Italian-Argentinians across the world.
"The structure is solid, even though it's an old house there's no mould on the walls and the roof is in a perfect shape."
According to Ms Russo, the buying process was very smooth thanks to the support of the local surveyor in charge of the project.
"It's crucial to have someone that guides you along the way, we were lucky to have this agent," explains Russo, who plans to live in Biccari with his wife and two daughters for much of the year.
"He prepared the paper work for us and helped us pay the property taxes. He made sure the home was free from any prior debt, which is something you don't want to find out after you've bought it."
However, Ms Russo almost found himself getting stuck in the labyrinthine nightmare others have found themselves in when purchasing a an Italian property with multiple owners.
This home had two owners -- sisters who lived in different cities. Both had to first agree to the sale, and then on the final price. Read More…
