How much are your monthly/yearly costs for the apartment you own ?

Go Back   Expat Forum For People Moving Overseas And Living Abroad > Europe > Italy Expat Forum for Expats Living in Italy

Italy Expat Forum for Expats Living in Italy Welcome to the Italy Expat forum. This is the place to meet like minded expats that have made themselves a new Italian lifestyle. This forum is ideal for Expats that have moved to Italy and those planning a move.

How much are your monthly/yearly costs for the apartment you own ?


Reply
 
Subscribe to this Thread Thread Tools
  #1 (permalink)  
Old 3rd May 2017, 11:27 PM
New Member
 
Join Date: May 2017
Location: Europe
Posts: 25
Rep Power: 0
50cent is on a distinguished road

Users Flag! Originally from cuba. Users Flag! Expat in burund.
Default How much are your monthly/yearly costs for the apartment you own ?

Hello,

I am a young working man. I am exploring the possibility to buy my own 'place in the sun'.
Italy is one of the few countries I did narrow my choice down to.
I will use it as a holiday home - I will be roughly 1 to 1.5 months per year there. When I
retire (in about 30 years), I will most probably move there permanently.
My goal is to buy a 3-room (or, as you call it - 2 bedroom) apartment, around 70-85 m2.
What is most important for me - to have the lowest possible cost when I am not there.
Hence, please kindly let me know what are the recurring monthly/yearly costs that you
have to keep paying. I will number the items, in order to aid you in writing your answers:

1) Water and electricity - those should be clear. Costs are according the the readings of
the corresponding meters. Do you have anything else to add ?

2) Condominio (I hope I am calling this right) - what I mean by this, are the regular
maintenance and repair cost for the apartment building and for utilities of the common
space, like the staircase, corridors like electricity for them and keeping them clean, etc.

3) I know that in Italy, there is a property ownership tax. Even 2 of them - IMU and TASI. I found on the internet, that primary homes are relieved from this tax. Bearing in mind what I wrote above - do I qualify as a primary home (no other property in Italy) or a primary home is considered only if I stay there most of the time ?

4) The apartment should also be insured against natural disasters and other damage
like fire, etc. - does any of you have such an insurance ? How much is it per year ?

5) Are there any additional recurring costs, that I didn't think about ?

Many many thanks for your answers and advice!

Reply With Quote Quick reply to this message
  #2 (permalink)  
Old 4th May 2017, 03:47 AM
Member
 
Join Date: Jun 2009
Posts: 2,096
Rep Power: 1226
NickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond repute
430 likes received
23 likes given

Users Flag! Originally from canada. Users Flag! Expat in italy.
Default

Water will be by the meter.

Both electricity and gas have monthly minimum fees. They cover the cost of providing the services to your home. I think I pay €18 every two months for gas even if I'm not home

You would have to pay IMU and the garbage tax. It sounds like you're one person. Between that and a vacation home it won't be much. But the amount various by town.

Condo fees vary by the building. It's something to ask the estate agent. Not all buildings have one. Some buildings have central heating meaning higher fees.

Who is going to look after the place when you're away? I wouldn't want to leave a place empty for ten months without somebody checking it occasionally. These days you can get many bills electronically but you might still get something in the mailbox.

Reply With Quote Quick reply to this message
  #3 (permalink)  
Old 4th May 2017, 12:52 PM
New Member
 
Join Date: May 2017
Location: Europe
Posts: 25
Rep Power: 0
50cent is on a distinguished road

Users Flag! Originally from cuba. Users Flag! Expat in burund.
Default

Dear NickZ,

many thanks for the detailed reply!
About gas - I'll unsubscribe from that, because I consider it very dangerous.
There will be 2 persons registered at the address.
How much would be the IMU and how much the garbage tax ? I am looking at 2 possible areas - Mestre and Sardiny (either Cagliari or Olbia). Could you please look up the exact amounts for me ?
My italian is very poor, though I will learn it, if I chose Italy as a country.
I am planning to go there roughly twice a year - in the automn and in the spring. Maybe also for Christmas/New Year. But yes, there will be periods of 6-7 or more months when I won't be able to go there. I'd be checking options for mail forwarding. Or perhaps some neighbour might be friendly enough to check the mailbox from time to time, it depends.
Anyway, I will inform everybody I get in touch with, that a letter in the mailbox would be the most unreliable way to get in touch with me.

Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
  #4 (permalink)  
Old 4th May 2017, 12:59 PM
New Member
 
Join Date: May 2017
Location: Europe
Posts: 25
Rep Power: 0
50cent is on a distinguished road

Users Flag! Originally from cuba. Users Flag! Expat in burund.
Default

I tried to do some research on my own, and still, what I'm reading is totally unclear:

Italian News - Dr.Claudio Del Giudice

This new tax is levied at two rates 0.4 % on the value main residences and 0.76% on the value of most other properties.

-> When I will be spending just 1.5-2 months per year there, will the authorities recognize it as my main residence (as I won't own anything else in Italy) or they'll say that I live in another country, so it's a second home for me ???

From the tax actually payable on the main residence a standard Euro 200 deduction is allowed

-> While 0.4% of the value might be a lot, minus 200 EUR would decrease this tax a lot and will be something I absolutely can live with.

Reply With Quote Quick reply to this message
  #5 (permalink)  
Old 4th May 2017, 09:08 PM
Member
 
Join Date: Jul 2016
Location: Italy
Posts: 304
Rep Power: 0
GeordieBorn is on a distinguished road
92 likes received
132 likes given

Users Flag! Originally from uk. Users Flag! Expat in italy.
Default

You will have to pay house tax (IMU & TASI) as a second home. The cost will likely depend on the castrale value of any property you buy. You can't really estimate the cost until you have a place in mind.

Reply With Quote Quick reply to this message
  #6 (permalink)  
Old 4th May 2017, 10:07 PM
New Member
 
Join Date: May 2017
Location: Europe
Posts: 25
Rep Power: 0
50cent is on a distinguished road

Users Flag! Originally from cuba. Users Flag! Expat in burund.
Default

Thank you, GordieBorn,

so, regardless of the fact, that I don't own other property in Italy, it will be classified as a second home ? And very roughly - what is the ratio between market and cadastral value ? Let's say for example an apartment, that sells for 100 000 EUR ? How much would that approximately be ?

Reply With Quote Quick reply to this message
  #7 (permalink)  
Old 5th May 2017, 03:52 AM
Member
 
Join Date: Jun 2009
Posts: 2,096
Rep Power: 1226
NickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond repute
430 likes received
23 likes given

Users Flag! Originally from canada. Users Flag! Expat in italy.
Default

There are older apartments that the value was set in the 1930s and hasn't been updated. There are new apartments the value is current. You can't know without having a property in mind. The estate agent should be able to get you this information.

If you're afraid of gas how will you heat the apartment? Electricity will cost way too much. You won't likely want to deal with wood. Even pellets can be a hassle in an apartment.

Reply With Quote Quick reply to this message
  #8 (permalink)  
Old 5th May 2017, 09:22 AM
New Member
 
Join Date: May 2017
Location: Europe
Posts: 25
Rep Power: 0
50cent is on a distinguished road

Users Flag! Originally from cuba. Users Flag! Expat in burund.
Default

I am from central Europe - this is several hundred KMs in the north of Italy.
In my country, most of the buildings have very good insulation and high-quality modern windows. The winters here are quite cold and very very long. We have central heating.
Despite all of that, I am almost not using the heating. I just put on a thick pullover and
I'm OK. I think that in Italy it should be much better... Especially on Sardiny...
Anyway, maybe I should really look for another country, Italy is very attractive for me, because I have very good transport connections and cheap flights there. Also, the language is very easy to learn and it seems easy to get a citizenship through naturalization as well...

Many thanks for your help! If you would like to add anything else, I would be very thankful!
You, on the Italy forum gave me the best answers. Another countries where I posted the same questions, I am not getting any answers :-/

Reply With Quote Quick reply to this message
Reply


Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Expat Forum For People Moving Overseas And Living Abroad forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
Location
Where you live
Expat From Country
Please select the country you originate from. This will appear as a flag when you make posts on the site.
Expat To Country
Please select the country you have either moved to or want to relocate to. This will be presented on the site when you make posts.

Log-in


Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How much are your monthly/yearly costs for the apartment you own ? 50cent Portugal Expat Forum for Expats Living in Portugal 19 15th May 2017 12:13 AM
How much are your monthly/yearly costs for the apartment you own ? 50cent Spain Expat Forum for Expats Living in Spain 12 14th May 2017 11:36 PM
Monthly costs 44danno Portugal Expat Forum for Expats Living in Portugal 10 29th October 2016 01:57 PM
yearly costs eric cooper Spain Expat Forum for Expats Living in Spain 7 23rd February 2012 05:49 PM
Monthly costs twinbooty Portugal Expat Forum for Expats Living in Portugal 0 2nd September 2009 10:18 PM

FORUM PARTNERS

ExpatForum.com is owned and operated by VerticalScope Inc.

Retiring Overseas Guides | Moving Overseas Guides | Cost of Living | Health Care Guides


All times are GMT. The time now is 08:07 AM.


Powered by vBulletin®
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.