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| Italy Buying Guide Newsletter |
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| Greetings from sunny Liguria! We’re taking our first dips in the sea, the apricots and cherries are ripening, our tomato plants, courgettes and peppers are all planted out, the woods are dotted with wildflowers, porcini mushrooms and wild strawberries. There are plenty of elderflowers growing in the woods, but these remain unnoticed by all, as they – together with elderberries – are not considered edible around here. Only those of us who know better (the Brits) creep around the woods picking them, hoping no one will see us and ask us how we could possibly consider eating them. I am very pleased this week, as my own house renovation is nearing its glorious conclusion. Having gained all the permissions necessary with the help of my geometra, the builder has completely gutted our old apartment in the medieval town centre and now its vaulted ceilings and tiled floors are looking lovely. In total the renovation took six months and 25,000 euros and included new wiring, plumbing, bathroom, floors, walls and terrace. We now just have to bite the bullet and drag all the furniture down there, not so easy when it’s in a pedestrian lane, far from traffic, parking bays or roads... For those of you who are about to move into your Italian home or are just settled in, I thought that this month it would be a good idea to warn you of some common house rules in Italy that it may be useful to know. I spent the first few months in Italy constantly shocking my Italian friends and neighbours, so I reckon that forewarned is forearmed! Drafts: The common house draft is considered deadly in Italy. I have now come to grips with the fact that, in Italy, drafts are responsible for almost every common illness or ailment. I have seen Italian friends step back in horror as they walk into the house and notice that more than one window is open, and – believing this to be simply an unexplainable oversight on my part – have kindly whispered to me, “there’s a window open in the next room, I believe,” (in the same tone that you might tell someone their fly was undone), fully expecting me to dash over to it and shut it immediately. They are clearly left perturbed when they see my total lack of response. Noise: Between 1pm and 3pm, people are often napping (summer months only), so avoid making too much noise between those times. This rule is completely disregarded by telephone sales reps from satellite TV companies, who make it a point of honour to call during that time of day. Bed placement: I don’t know if this is a nationally recognised superstition, but more than one person has told me absolutely not to place my bed with the foot towards the door. This is the equivalent of saying: “you’ll be carrying me out of here feet first”... Dinner: Never let them catch you eating dinner before 7pm. The correct time is around 8pm, but you will get away with it after 7. Any earlier is considered reckless. Chrysanthemums: Don’t be surprised if Italians turn pale if you decorate your dining table with a pretty vase of chrysanthemums, and whatever you do, don’t give a bouquet of chrysanthemums as a gift to anyone: chrysanthemums are strictly a cemetary flower! Talking of being shocked, I was translating a judge’s ruling the other day, and I came across a word I’d never seen before – farlocco. This word was not in my Italian dictionary, nor was it in my Italian-English dictionary, and I was forced to start searching the Internet, in the hope of finding out what it meant. Apparently, farlocco means petty thief, and the word was coined in Rome in the 1960s, referring to thieves who prayed on foreigners. They identified their victims from their distracted gaze as they walked through the streets of Rome, or rather their ‘Far Look’. Hence farlocco. I was also quite struck the other day by a certain theory that says that a certain famous English playwright was actually born in Messina, Italy. Michelangelo Florio Crollalanza, born of noble Calvinist parents, was forced to flee Messina due to incursions by the Inquisition and fled to Stratford-upon-Avon in 1588 where he changed his name to William Shakespeare (crolla =shake, lanza=speare). The name William may have come from his mother, Guglielma, or a cousin of his who died in Stratford prematurely. The theory would explain why Italian stories and characters are so common in Shakespeare’s plays, from Venetian merchants, to Capulets and Montegues, to Prospero and Miranda etc etc. Much Ado About Nothing takes place in Messina. Even more interesting is that a XVI century book of proverbs written by Michelangelo Crollalanza has many phrases that are found in Hamlet. Being of noble birth, rather than the son of a glove maker, would explain why Shakespeare’s plays contain such encyclopedic knowledge. Whether the theory is true or not, it is intriguing and I quite like the idea that Italy might have made such an enormous contribution to English, and world, literature! But back to houses and holidays and lovely Italy. This month, our feature compares the experience of buying and keeping a holiday home in Italy with another popular location: Florida. It impressed me that this couple had holiday homes in both places, but in the end they chose Italy and sold their luxurious pool-side home in Florida. Find out what made Italy so special to them. I hope you enjoy this month’s newsletter and find it useful, interesting and entertaining! Kind regards, Gianna Williams |
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What Italy had that Florida didn’tMany people who decide to buy a holiday home abroad really are quite open-minded about where to go and may well have trouble deciding what country to go to. Most people’s only main criterion is sunshine! Helen and Andrew Francis, from Darlington, had first opted for Florida. Not only is it known for its good weather, but there’s no need to struggle with a foreign language (for the most part!). However they were not completely satisfied with their Florida home and last year they bought an apartment in a medieval Ligurian village – a world away from Florida! A few months later they sold the house in Florida and now Italy is their main destination. I was intrigued to find out why they had decided to switch to Italy, and what Italy had that Florida didn’t.
Helen spent lots of holidays in Italy as a child and has always adored this country, always promising to take her husband, fully aware that he would immediately want to purchase a home or settle there in some way, and true to form, this is exactly what happened after the first visit. “On our first trip, we rented a property, and although the accommodation was somewhat basic, we had a fabulous time: the peace, tranquillity and views were spectacular. We decided to return two years later to look for property whilst on holiday. On this visit we rented, and we met Alessandra, our agent, who showed us some properties, one of which was the one we eventually bought, and the rest is history.” So what does Italy have that Florida doesn’t? “Where do we start! Firstly, Italian culture. The views of the ever-changing countryside, the colours. The wonderful smells of cooking drifting from houses at various times of the day. The smell of wood burning in the winter-time. Watching Bethany being able to run around safely and freely as we were able to do 30 years ago in the UK. The value placed on family is wonderful, something which is sadly lacking elswhere in the world. The list is endless! Florida is a great place to holiday, especially with children, but it is characterless, with a repetitive landscape and a lack of distinctive culture. The only advantage Florida has compared with Italy is hot, sunny weather in the winter months and access to lots of entertainment for the children, as well as being English-speaking, but we are trying with our Italian (though very slowly). I think the learning area of our brains has dried up!” I wondered how the actual purchase of a house differed between Florida and Italy. No doubt, there was less confusing bureaucracy involved when you buy a house in the US? “Purchasing in Florida was very easy and quick. We agreed the price for the property, paid a deposit and returned home. After that, all we had to do was send the money to a bank account over there, prior to the purchase documents being drawn up. These were then sent via Fedex to us in the UK, we had these checked over and then we visited a notary for signature and authorisation. The documents were then returned to the US and we were the proud owners of a three-bedroomed, two-bathroomed pool home within days.” “Prior to purchasing our home in Italy we were led to believe that the buying process was very protracted and complicated. However in reality all the hard work was endured by our estate agent and our architect, thus making it a pleasant and trouble-free transaction. Our agent left no stone unturned, her local knowledge was invaluable, along with advice from others. We put our trust in her and it paid off. The language barrier was also a big worry to us, but our agent was really helpful.” “We were a bit concerned about estate
agents and builders, as you hear so many horror stories. Once we I wondered how the cost of living compared between Florida and Italy, especially when considering the costs of house maintenance. “Florida was a lot more expensive to keep as we could not visit as often. The property had to be maintained when we were not there as we rented it out. The garden, air conditioning and pool had to be tended on a weekly basis. We had a management company who looked after all this in our absence and organised all the cleaning and the paying of bills. Italy so far does not seem to be as costly,
although the gas is very expensive, and our heating costs are high On the economic side, Helen feels that Italy is also a better long-term investment, though they still made money when they sold their property in Florida. So, I asked them, would you ever think of going to live in Italy permanently, seeing as how you are so happy there? “Andrew and I would retire to Italy tomorrow, although leaving our lovely home in the UK would be very hard. We also have to consider the wishes of our two younger children, business interests and elderly parents. We can, however, see our future being in Italy in the coming years. Our Italian is coming along very slowly. We certainly consider it a challenge, but not a problem. We have a lot of laughs trying to find the right words in different situations, but we seem to get there in the end. The only thing that saddens us is that the people in our Italian town are so friendly and have been so welcoming that we are frustrated because we are unable to communicate fully with them at social events. We have so much to talk about, but limited understanding. I suppose time and patience will solve this problem in the years ahead.” If you would like help finding you dream property in Italy, please phone me on 0207 898 0549 and we can talk about your requirements – I have a few wonderful people who can help with this. |
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How a Guide Reader saved £11,504 being Smart
Paul needed to send the equivalent of £135,000 to Florida at the end of September. Fortunately he had heeded the advice given on the Smart Currency website and phoned in early - June in fact - to discuss his needs. At that time, it was recommended that he look at reserving money (for purchase in the future) at that day’s exchange rate – Paul takes up the story:
Paul was able to reserve the US$ 264,600 that he needed to send to the USA at a rate of 1.96 GBP/USD on a forward contract from 02/07/08 to 26/09/08. In Sterling, the cost to Paul (when the contract matured in September) was fixed at £135,000 less the deposit paid. (US$ 264,600 ÷ 1.96 = £135,000). Had Paul waited until September to buy the currency needed, which was his original intention, the rate would have been 1.84. This would have meant a cost of £143,804 (US$264,600 ÷ 1.84 = £143,804), making a loss for Paul of £8,804 over buying a forward contract. Furthermore, this was not the only saving that Paul made. Had he traded with his high street bank rather than getting exceptionally good rates from Smart, it would have been approximately £2,700 more expensive for the USD purchased (or he would have received $5,292 less). All in all Paul saved £11,504 by being Smart with his international payment for his overseas property! Incidentally, with current rates at the time of writing at 1.46, if the requirement had been for now, and booking forward when Paul did, the saving would have been an outrageous £46,232 (US$264,600 ÷1.46 = £ 181,232 - £135,000 = £46,132). These figures really bring to light the importance of using not only a currency company, but the right currency company – one where you get a really proactive service. As soon as you know that you’re going to send money overseas, contact Smart Currency Exchange! To read the latest market information on Serling and the Euro go to: http://www.ItalyBuyingGuide.com/Currency280509.htm If you haven’t had a chance to discuss in detail what the alternatives are for your currency concerns then please give us a ring and we will be happy to talk about your possible options. Call on 0808 163 0102 or if you'd like to get a Better-than-Bank exhange rate quotation go to: http://www.smartCurrencyExchange.com/smartsquotation.htm Why overseas property buyers lose money.. and how you can avoid it! This 10-page educational report outlines:
To get a copy of the report at no charge go to: http://www.smartcurrencyexchange.com/freereport.htm
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Castello Izzalini Apartments, Todi Price: from €245,000
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How to make safe choices Italy is host to some 21 million visitors
each year and since joining the EU its property market has boomed. Investors
and those wanting homes abroad are finding that property is reasonably
inexpensive and can be found in ski resorts, medieval towns and cultural
cities like Florence, all of which are utterly lovely and have a high
rental value. As a rule of thumb, property prices are
lower the further south you go. Northern Italy boasts pricier locations
near ski resorts in the Alps, while buy-to-lets in this region are ever
popular. Meanwhile city pied-à-terres such as Rome, Turin, Milan,
Venice and Florence are great Italian property is attracting increasing
numbers of international investors. After the earthquake in Naples in 1980, which killed 2,500 people, laws were introduced obliging construction to be carried out according to anti-earthquake standards. But those laws are often quietly ignored, observers say. The San Salvatore hospital, which according to one Italian media report was finished in 2000, should have been able to withstand the 6.3 magnitude quake. Part of the hospital collapsed and many of the patients had to be evacuated or treated outdoors. The UN's International Strategy for Disaster Reduction office said "Buildings are the main killers when earthquakes strike, which is why constructing resilient buildings in earthquake-prone zones is vital." I know that I am repeating myself from
last month here, but I am doing so with a purpose. In order to make
sure that you avoid faulty construction, you need to use reputable property
professionals. If I can help you with this please just call me on 0207
898 0549 or fill in the form at: You need to contact those who can check
and ensure that the safety regulations have been applied to the property
you are buying – this could really be a matter of life and death
and is not something to be taken lightly. | ||
Top Tip: Are you still protected?Recent research carried out by one of the UK’s main banks has found that more than 10 million people could have insurance protection cover that is no longer suitable for their needs. Just as worrying, 42% of people have not updated their cover following a life-changing event such as a change of job. And let’s face it, this works both ways. You had your property valued a while back and insured it – but, with the current slump, what would your insurance company pay you out for it now? Are your premiums too high with the slump in property prices? The research also uncovered the startling fact that 20% of people have no idea how much cover they need. And, 40% of people who have protection cover arranged it without seeking professional advice. Worth a thought isn’t it? I have a wonderful insurance company to recommend to you: best prices, best cover and all English policies. If you would like to discuss this or any other aspect of buying property please give me a call on 0207 898 0549 or fill in the brief form and I will phone you: |
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| Saving money abroad on mobile phone charges… I have a mobile phone, I use it, I text, I phone…but I have to admit I’m not clued up on how they work nor do I understand the various fees and charges. And when I’m overseas I tend to turn my phone off or spend as little time on it as possible. I can’t help but feel a impending sense of doom after I take a call – all the while I’m wondering if I’m being charged 25p/minute or £2.50/minute?! Well…there’s a service specifically set up for people that want to use their mobile overseas yet not be charged random high fees for doing so. The service is called Sim4Travel and provides users with a special SIM Card…As I have just learned…a SIM card, also known as a ‘subscriber identity module’, is a smart card that stores data for mobile phone subscribers. This can include user identity, location and phone number, network authorisation data, personal security keys, contact lists and stored text messages. A SIM card can be switched easily from one phone set to another. This can be useful in a number of ways. For example, a user that buys a new phone can install the current SIM card to associate the new phone with the same number and user preferences (such as saved phone numbers) as the old one. Also, if a phone's battery runs out, the user can easily install the SIM card into another person’s mobile without costing that person anything – you will be using your own credit. With the SIM4Travel service, you swap your UK SIM for the SIM4travel SIM and that allows you to make and receive calls from abroad for a low cost and even for free. If you go on their website, the main benefits of getting a SIM4 Travel SIM are:
For £15.99 you can join SIM4travel and this comes with £10.00 of credit for pre-paid phone calls. So essentially, it only costs £5.99 to join the service and then you just need to top up your pre-paid credit whenever you want to use the phone. You can join SIM4travel and top up your SIM card either online or by phone. Get more information on SIM4Travel on their website: Sim 4 Travel
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| Let Me Help you Plan your Italian Purchase… Contrary to ‘the movies’, dreams usually come true only after a lot of hard work, planning and dedicated effort rather than just good luck…Here is an email from one of my readers that has recently started the planning process (abbreviated slightly):
Plan exactly what it is you want from your dream. Travel there and find out the location that suits you best. Factor into the equation things like access, transport, cost and so on and read the Italy Property Buying Guide if you have not already done so. To order your copy, go to: http://www.ItalyBuyingGuide.com/Guide.htm If you have any questions after reading the Guide I’d be more than happy for you to ring me (or my associates) – we’re here to help! Please phone on 0207 898 0549 and either I or one of my colleagues will be delighted to have a chat and see if we can help you make your dreams come true. Talking to people buying abroad on a daily basis gives The Overseas Guide Company access to well respected, tried and tested property professionals that have helped others. Perhaps we can help you too? Give me a ring!
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I hope you have enjoyed this month’s
newsletter and the information I have given you has helped. Please keep in touch and remember, you are always welcome to phone, or even to pop in for a cup of coffee if you find yourself nearby Hammersmith, London, where our office is located. Any help needed you have only to ask – phone me at 0207 898 0549. Kind regards, Gianna Gianna Williams
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had
spoken to Alessandra, our agent, all our concerns and fears were put
at ease. In actual fact, we thought it was too good to be true, the
experience was so trouble-free. She pointed everything out to us along
the way, good and bad, and with all this information we were able to
form a trusting relationship, not only from a professional point of
view, as we now class her as one of our friends. Our house needed totally
renovating. Alessandra gave us an option of two builders, the house
was finished within budget and on time to a very high standard. The
builder and Alessandra coordinated all the tradesman to carry out the
relevant work at the correct time, therefore no time was wasted. We
trusted his workmanship and took his advice readily as he had good ideas
about how things should be done and took the initiative when needed.
He too has gone on to become a friend.”
when we visit in the winter.”
