There are pros and cons of buying a house in Italy, especially for those who do not know well the tax regimes of our country. You can think, first of all, that buying a house can somehow bring long-term benefits: owning the property allows you to sell it and generate a profit, but this is not always possible because of the initial investment that you have to bear.
It’s not as easy as you think...
The first problem is that, unlike other states (European and not) obtaining a mortgage (or a loan) from the bank that covers 100% of expenses is not easy. The overall Italian average is 80%, and even lower if we consider non-residents. Although renting a house may seem like an excessive expense in the long run, it is also the perfect solution for those who want to get rid of bureaucratic constraints or for those who wish to change without settling permanently in one place. WillAge allows, with a single subscription, to have all the comforts you need: by paying monthly you will get not only the accomodation, but also other services that you will not have to think about independently.
It is absolutely true that, in Italy, even if interest rates are high, they are still lower than the European and non-European average, and the lowest in history in general. This may prompt a person to think about buying a house rather than renting it, but obviously it is difficult to have an important liquidity available.
Have you considered your future plans?
A mortgage will tie the person to the property and is therefore a type of long-term commitment. This perspective is certainly not suitable for pensioners, who wish to relax and spend their time in the freedom of absence of responsibility after a life of long and exhausting work.
Renting a house involves freeing yourself from these legal constraints and the great value of being able to move to new locations and be able to live an exciting life, but without sacrificing all the comforts and benefits.
When is it better to rent?
Often the rental price is much lower than the one required by the mortgage, also there is to say that the requirements to be able to get one are very complex and result in a categorical rejection by the bank. If you love to travel or are away for long periods, renting allows you to be more flexible: what prevents you from moving from region to region and being able to try new cultures and new attractions?
In Italy buying a house is very complex also mainly because of the tax regimes, including the IMU, the tax on the second house and so on. These are legal and bureaucratic traps from which it is difficult to escape. Living the Italian dream is only possible through services like the one offered by WillAge itself, which have strongly in consideration the well-being of the individual as a first goal.
