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What's the peak summer temperature and humidity? Are you okay with no AC?
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AirBnB?
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I think it all depends on where youre at.
About half way through the book enemy at the gates, the germans surrender after the siege of stalingrad, the soldiers are taken to northern siberia to explore a new life of tb and cannibalism. I bet those guys would have lept at the chance to pay 100k for a ruin in Tuscany. Its a big world, do you feel like you know it well enough to be sure? From what i hear tuscany is infested with rich americans. The crappy thing is the world is always changing. You want to invest in a place thats nice in 20 years, but thats nearly impossible to predict. Who knows maybe its going to all be redeveloped into a golf course. Probably the wisest thing is to focus on being part of a community you like today, its the people that really make or break a place. |
I would rent a place for a month or two as a trial before I purchased a residence in any foreign country. There will be significant differences from what you are accustomed to.
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Re rehabbing. There's probably not a Home Depot down the road in Tuscany. They may import everything or get everything through Aldo. Aldo is very fickle and won't deal with you unless he knows you. And there will be surprises. There's a reason it's being sold on the international market and wasn't scooped up already. It will probably require local talent for the big fixes unless you've got a strong young back. They will work at Italian pace. The locals will look at you as fresh meat. It's won't be hands-off. It may require months of talking and ordering free meals for new friends in local restaurants and convincing them all you mean well. That might make the project affordable in the long run. It's their small world and everyone will want a piece of you for their own purposes. Do ya speak Italian? Have we talked permits and taxes yet?
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Anyone who is willing to get dirty will command some respect. And respecting the local culture is a must. Speaking some Italian would be beneficial, IMHO, but I wouldn't pretend to be any good at it. Being humble is always the best tactic. This project is something I wish I could do. There is a YT channel named Carl Rogers where a father and son from the UK bought a French farmhouse and did some fantastic and very involved work. He got side tracked building a replica of a old farm wagon so I stopped watching. But if you start off at the beginning, it's very inspiring. Everything they did was heavy duty stuff. No boards there, only timbers. |
I'd be concerned about being able to sell it later on. I'm sure the town is charming, and the house can be rehabbed, but it'll still be in rural Italy where only those with ancestral roots live. Buying a better property in a more metro area where people are moving to, not from, would be a better investment.
It's no different than buying a big house in a small southern town where the mill has closed. |
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We'd need to know more about the Italian property. |
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I am a little late getting to this thread, quite an interesting topic. I must say that the Pelican brain trust is in full display here, some very knowledgeable and thoughtful responses with a bit of humor. There are several tv shows on Americans buying fixer uppers overseas, and they don't always have great success. If you can put together a plan and a backup plan if things go south, I say do it and keep up posted!
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I don't understand the fascination with Tuscany. Sure pleasant enough but just rolling hills grass, vines and trees - but NO beach. If you said Positano on the Amalfi coast I'd say go for it.
You get sick of rolling hills, grass, vines and trees pretty fast says the boy from New Zealand which is just a whole lotta grass trees and vines stuck together. |
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