Buying property abroad can be a challenge. The most common mistake is to be guided solely by a low price, without analysing the rental potential of a given location. It is equally risky to omit a thorough verification of the technical documentation – older buildings in Italy may have discrepancies in the plans or a lack of current permits.
Investors also often forget to overestimate renovation costs, which, with current material prices, can surprise those from outside the local market. Understanding seasonality is also crucial – although summer brings high profits, it's worth having a strategy for the rest of the year. Collaborating with an experienced, local advisor helps eliminate these risks, ensuring a safe transaction and maximising future profits.
