Buying an Apartment in Italy
So how did I come to own a second home in Central Italy? It's easier than you might think!
When friends and clients find out that I own an apartment in the heart of the city, the first reaction is usually, "Wow, how did you do that?". Once I figured it out, it was pretty easy. I had looked on and off over a long period trying to figure out how to buy property abroad and then took a trip to Italy with a friend of mine. On that trip, we went to look at an apartment and after taking a tour I thought, "Well... this could potentially work." My friend then encouraged me by saying, "This is your town, you know people here, you've been coming here for years and it just makes sense to own a home here."
Having some positive reinforcement from a friend is always helpful, and later on in the trip she made the comment that hit me the most: "You don't want to wait until you're too old to do this." At the time I thought this was a bit harsh, but I later realized that this was probably the best advice anyone has ever given me and I really started thinking about it after we returned to Richmond.
Not long after, I received an email about another apartment, and about five days later I got on a plane back to Italy. I was confident heading back because I knew exactly where the money was coming from and how I was going to potentially buy this apartment if it was the right fit. Long story short - all the pieces just fell into place. I ended up touring about 18 apartments, and made an offer on one, but found out I didn't get that apartment.
About a month later, I toured more apartments, made another offer, and have owned my second home for about seven years now. I am very happy with it. I have used it for my own recreation and as an investment property, and it has done quite well. There are also some attractive tax benefits to owning a property abroad! Not only is all of this interesting, but it has been one of the most pleasant real estate experiences I have ever had - including renovating in a foreign country (which was really kind of fun!).
If you have ever wondered about owning a home abroad, please reach out. I would be happy to guide you through the process. I also have connections in Central and Northern Italy that could help you accomplish your goals!
Additionally, we have affiliations with an Italian real estate firm and short-term rental company if you want to try it out. I am also connected with networks that can broaden your search to other countries as well!
804-350-0879 | [email protected] | chrissmallgroup.com
*In 2023, 83% of our listings sold at or over the list price, and 61% sold OVER the list price!
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It is my responsibility as your REALTOR® to ensure that when others around you are lowering their expectations, this becomes the time for us to switch gears and discover how to leverage the market effectively to achieve your goals.
If you would like to know more about the current market, or if you have any general real estate questions, call or text me on my cell phone at 804-350-0879 or you can email me at [email protected].
If you are looking to begin a home search, visit my website to get started!
