Italian Real Estate Buying: Q&A Part VI
We're busy getting ready for our Sicily tour! It's really exciting to get back to Italy, to visit the kitties at Torre Argentina, enjoy a cappuccino in Roma, have a granita for breakfast in Sicily, and to experience the richness and beauty of Sicily. In preparation, we've been reading Sicily: Three Thousand Years of Human History by Sandra Benjamin, a wonderfully readable narrative that illuminates the island's identity. If you are planning to go to Sicily, or have been, we highly recommend this book.
Also, the sixth in a series of questions regarding home buying in Italy is here! The questions are sent in by smart readers like you and are answered by our two experts, Italian real estate attorneys Claudia Bortolani and Eleonora Cerin.
These Q&A sessions have been created in support of our Italian Home Buying tour next year. The dates for this tour are May 22 to 29, 2024 and we are now ready to take reservations!!
On this tour we'll be joined by Claudia and Eleonora, our real estate attorneys, and various agents as we view homes in the Sabina area of Italy. You'll get to know the area with us through activities like nature walks and cooking classes with locals and spend valuable time with experts so you can gain insight into their experience. All of this, the activities, lodging, meals, our attorneys are included in the price of the trip. In addition, Claudia has written a guide to the buying process in Italy which you can look at for free, here.
Q: What are some other costs that I need to anticipate and budget for? Utilities? Waste? Internet?
A: After you've become a homeowner in Italy, you will need to budget for some mandatory costs and decide on some optional services. Mandatory costs are property taxes (so called "IMU") which varies depending on the type of property, size, location, and cadastral value (please see previous post) and the coefficient set forth by the City Hall where the property is located (which may change in the years). Waste disposal tax is another mandatory expense, and it depends on the size and location of the property. You will also need to have the property connected to electricity, gas, and water utilities which are monthly or bi-monthly bills. If the property is part of a condominium, you will have to take care of you share of common area charges (eg. compensation of the building manger, doorman where present, common areas, heating if not independent, garden or courtyard where present, ecc). All expenses that you will be able from the home banking service of your Italian bank account. Internet and TV services are obviously optional, although if you have a remote alarm system and will want to check on the cameras in the house, you will need an Internet connection..
Thank you, Claudia and Eleonora, as usual, for your precise information!
If you have a question for Claudia and Elenora about the home buying process in Italy and you'd like to see it answered here, please email email@example.com.
If you'd like to sign up for the real estate buying tour, please let us know asap so that we can hold a spot for you. Our tours are small group and limited to 7 people.
We are also working on an October 2024 Tuscan Wine Tour. We'll release that itinerary soon and it's expected to sell out quickly. Keep an eye out for that or let us know if we should hold a spot for you!