Italian Home Buying 

10 Questions to Ask Yourself before Meeting with an Italian Realtor

1.     What type of house or condominium are you looking for, new, existing, or fixer-upper? Understanding your preferences for the type of property you are interested in helps your realtor narrow down the search and present suitable options. Discuss your desired features, such as the size, style, number of bedrooms, and any specific amenities you prefer.

2.     Where would you like to live, rural or urban, near the mountains or beach? Italy offers diverse landscapes, from picturesque countryside settings to vibrant urban areas, coastal regions, and mountainous regions. Clarify your desired location, considering factors like proximity to amenities, natural surroundings, transportation links, and lifestyle preferences.

3.     When are you looking to purchase, and are you aware of how much time it takes to purchase a home in Italy? The home-buying process in Italy can take longer compared to some other countries due to legal and bureaucratic procedures. Discuss your timeline with the Realtor and have realistic expectations regarding the duration of the process, including finding a property, negotiation, due diligence, and legal procedures.

4.     Will you require financing, and how familiar are you with deposit requirements and Italian financing options? Determine if you need financing and familiarize yourself with the deposit requirements and available financing options in Italy. Typically, a 10% deposit is common, and mortgages may cover up to 80% of the property value. Additionally, consider other costs like taxes, realtor fees, notary fees, and registration fees, which may amount to around 25% of the home cost.

5.     What is your status, and why does it matter? Understanding your legal and residency status is important as it can impact taxes, fees, and eligibility for certain benefits. For instance, first-time homebuyers who have residency may qualify for a reduced 4% IVA (VAT) rate on their purchase.

6.     How well do you understand and are you willing to deal with Italian bureaucracy? Italy has a bureaucratic system, and navigating through administrative processes is essential when purchasing a property. Discuss with your Realtor the steps involved, required documentation, and potential challenges to ensure you are prepared for the bureaucracy involved.

7.     How well are you familiar with online tools as there is no MLS, and the responsibility of research lies with the buyer? In Italy, there is no centralized Multiple Listing Service (MLS). Buyers often rely on online platforms like casa.it and immobilien.it to search for available properties. Familiarize yourself with these tools and be proactive in conducting research and finding potential properties of interest.

8.     How well do you know the Italian housing market? Understand the current state of the Italian housing market, including the supply and demand dynamics, average prices, and market trends. Recognize that the inventory of new homes may be relatively limited compared to other countries, and being aware of this can help manage expectations.

9.     How familiar are you with the Italian home buying process and terminology? Familiarize yourself with the Italian home buying process and key terminology to better understand the steps involved. In Italy, a preliminary contract (Preliminaria) precedes the final contract (Compravendita), which is conducted by the notary in the presence of the Realtor, buyer, and seller. It's essential to be prepared for these legal procedures and be comfortable with the contracts and documentation, which will be in Italian.

10.   How well do you know the role of a realtor? Understand that Realtors in Italy act as mediators representing both parties, the buyer and the seller. They assist in dealing with problems that may arise during the transaction, schedule appointments, and facilitate communication between all parties involved. Recognize the importance of having a realtor who understands your needs and can guide you through the process effectively.