Tuesday 23 August 2011

Italian property

Can you still save money in Umbria by restoring a property yourself? Many buyers over the last decade or two indulged their property-designing fantasies and save money in the long run, ended up woth a beautiful, bespoke home that was worth much more than the total they'd invested in it. The consensuos view is that these days are now gone. With restoration costs across central Italy much higher that they were, it's generally agreed that whether you buy and  restore or buy ready restored, you're going end up paying roughly the same in the end. In some cases, a ready restored house might even offers a better value- especially if it's been gorgeouslly done and the vendor is looking for a quick sale, as some foreign vendors usually are. The difference in price between buying and restoring is often negligible; it normally depends on other factors which you feel is the best way to go. One of the biggest factors influencing price in Umbria is, of course, location. Medieval hill-towns are among the region chief's attractions and the most popular towns are naturally the most expensive- Orvieto, Spoleto, Todi, Perugia, Assisi. You could save money by going for one of Umbria's less known, but equally stunning, Medieval gems, such us Montefalco, Spello, Santa Maria Tiberina, Pietralunga etc. For buyers who are hoping to offer holiday rentals, the whole Umbria remains one of Italy's overall best bets for rental interest. You might resonably expect to garner more than 1000 euros per week for a cottage with pool in high season. Umbria shows little sign of waning in terms of its visitors appeal and holiday bookings have remained largely unaffected since the onset of the recession. People still want to come here as much as ever!

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