The experts of Easy Home Italy, a Milan-based company specialized in real estate consulting for foreign investors, explain what are the right moves to be successful in the real estate business
Milan, 2019 – Aided by the economic crisis that fell upon Italy over the last decade, there has been a notable increase in real estate investments recently, from both Italian and foreign buyers.
Indeed, many fellow Italians, in the belief that houses will never be affected by the crisis, have preferred to commit their savings in flats and real estate properties, rather than entrusting them to the volatile financial market. Likewise, more and more foreigners consider Italy as a destination where they can spend either short or long periods of their life, and for this reason they wish to have a stable presence in the Belpaese.
But what exactly are the golden rules for a successful real estate business? According to the professionals of Easy Home Italy, a Milanese company specializing in real estate consulting for foreign investors, the right moves to successfully invest in buildings can be reduced to 5.
Location! This is the first and perhaps the most important variable. First of all, we must thoroughly study the area where the property we are interested in is located, inquiring about services in its surroundings, such as schools, hospitals or meeting points, all of which are crucial factors for establishing the value of a home. In fact, the in-depth analysis of a given area makes it possible to get a fairly accurate idea of average house prices, thus immediately realizing whether or not you are being faced with an opportunity.
The second advice of Easy Home Italy’s experts is to always buy from a motivated seller, meaning from a person who actually needs to sell the property, and who will therefore be willing to also make some steps towards you in terms of price.
The third golden rule for doing good business in real estate consists in: paying attention to the cost per square meter. It seems trivial, but it’s actually not at all: for example, in large cities, larger houses have a lower price per square meter in proportion to smaller ones. This means that, if you want to buy a property and make it an investment, you have to keep an eye on smaller houses, which are always on top of the real estate market, whether they are located in the center or in the suburbs.
The fourth piece of advice is to not just consider what the apartments look like: oftentimes, the best deals are made with buildings which are not in a perfect state of maintenance. With some not too expensive restructuring works, the same building will acquire significant added value, and you’d be able to either sell it or lease it at a much higher price than its original purchase cost.
The last golden rule concerns the purchase of residential properties, which always preferable to commercial ones. The latter, in fact, although apparently cheaper, actually present more complex requirements, implying the risk of spending more than what you would earn by making the investment.
EASY HOME ITALY