Complete Guide to Buying Property in Italy
Navigate the steps to owning your dream home in Italy with ease.
What are the Costs to Purchase in Italy?
When buying property in Italy, consider the following taxes and fees:
Stamp Duty: Ranges from 2% to 9% of the cadastral value, with a minimum of €1,000. 2% for primary residences and 9% for secondary properties.
Land Registry Tax: Between €50 and €200, depending on whether the seller is private or a company.
Mortgage Tax: Similar to land registry tax, between €50 and €200 for mortgage registration.
VAT: Ranges from 4% to 22%, depending on property type, and applies to purchases from registered companies.
Capital Gain Tax: Around 26% for sellers, exempt if the property is owned for over 5 years.
Notary Costs: Typically at least €1,000 or 1% of the transaction value for legal validation.
Agency Fee: Usually between 1% and 5% of the transaction amount if using a real estate agency.
Evaluate Your Borrowing Power for Buying a House in Italy
Discover the key benefits of using LikeJunco for your Italian mortgage needs.
Determine Borrowing Capacity
Learn how much you can borrow from Italian banks.
A mortgage broker will evaluate your eligibility by liaising with Italian lenders to find the right options.
Understand Debt Ratio Calculation:
Italian banks use a debt ratio to assess how much you can borrow. Your mortgage shouldn’t exceed 30%-35% of your income.
Example: If your outgoings are €900, your income should be €3,000
Loan-to-Value (LTV) Considerations:
LTV typically covers 60%-70% of the property value. You’ll need to provide the remaining 30%-40% plus fees. Higher LTV rates may apply for Italian residents abroad.
Understand Debt Ratio Calculation:
Our team will evaluate your financial profile and assist you in selecting the ideal lender to maximize your borrowing potential and secure the best rates.
How to Buy a Property in Italy
When viewing potential properties, follow these key tips to make a well-informed decision:
Take Your Time: Don’t rush; calmly evaluate the house.
Bring Someone You Trust: A second opinion helps spot things you might miss.
Inspect Thoroughly: A second opinion helps spot things you might miss.
Compare Prices: Research similar properties in the area for fair pricing.
Visit at Different Times: Check the property’s light exposure and ventilation at various times of day.
Ask Questions: Inquire about the reason for selling, maintenance fees, and any planned work.
Stay Neutral: Even if you love the house, don’t show too much excitement during negotiations.
Essential Pre-Purchase Checks
When considering buying a home, there are a few essential things to ask the real estate agent or landlord:
In Italy, there are frequent building abuses or situations of discrepancy in the state of affairs with respect to the plans present in the land registry or in the municipality. This should not scare you, often these are solvable situations, but it is right that you know them and evaluate them with your consultant
It may happen that, shortly after your purchase, the condominium assembly decides to renovate the roof or the facade. This is good because it enhances the building, but spending several thousand euros immediately after buying your apartment could affect your family budget.
It may happen that, shortly after your purchase, the condominium assembly decides to renovate the roof or the facade. This is good because it enhances the building, but spending several thousand euros immediately after buying your apartment could affect your family budget.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
When considering buying a home, there are a few essential things to ask the real estate agent or landlord:
In Italy, there are frequent building abuses or situations of discrepancy in the state of affairs with respect to the plans present in the land registry or in the municipality. This should not scare you, often these are solvable situations, but it is right that you know them and evaluate them with your consultant
It may happen that, shortly after your purchase, the condominium assembly decides to renovate the roof or the facade. This is good because it enhances the building, but spending several thousand euros immediately after buying your apartment could affect your family budget.
It may happen that, shortly after your purchase, the condominium assembly decides to renovate the roof or the facade. This is good because it enhances the building, but spending several thousand euros immediately after buying your apartment could affect your family budget.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
Making a Proposal for the House
Once you've gathered all the necessary information from the seller regarding taxes and costs, and you know the final price, you're ready to make your proposal. The process typically involves three steps:
Once the seller and you agree on the sum to be paid for the property, the seller will ask you for some money to be paid as a deposit, as a proof of the seriousness of your intentions. This is called “proposta” or proposal of purchase. The amount requested in this phase can vary. It can be as little as 2000€. However in case the seller decides not to proceed with the sale, the money will be given back to you unless agreed otherwise.
Once the seller and you agree on the sum to be paid for the property, the seller will ask you for some money to be paid as a deposit, as a proof of the seriousness of your intentions. This is called “proposta” or proposal of purchase. The amount requested in this phase can vary. It can be as little as 2000€. However in case the seller decides not to proceed with the sale, the money will be given back to you unless agreed otherwise.
Once the seller and you agree on the sum to be paid for the property, the seller will ask you for some money to be paid as a deposit, as a proof of the seriousness of your intentions. This is called “proposta” or proposal of purchase. The amount requested in this phase can vary. It can be as little as 2000€. However in case the seller decides not to proceed with the sale, the money will be given back to you unless agreed otherwise.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
No information on this site constitutes advice or a personal recommendation in any way whatsoever. We are not advisers ourselves, however all the advisers we work with are fully regulated by the appropriate authorities. By submitting your details, you are agreeing for one of our advisers to contact you for your initial consultation. We will not contact you for any other purpose, or pass details to anybody else that is not relevant for the purpose of this service.
Transparent and Simple Pricing
At LikeJunco + Broker, we guide you through every step of the home buying process for securing a mortgage in Italy, from scouting the perfect mortgage to finalizing the deal.
We are not financial adviser ourselves, however all the advisers we work with are fully regulated by the appropriate authorities.
Our fee is a success fee of 1% (with a minimum of €5,000) of the value of your mortgage, payable only once the mortgage is secured.
