03.31.06
Renovating Property in the Italian Lakes.
Renovating Property in the Italian Lakes
Due to high demand and strict planning permission, new properties for sale in the Italian Lakes are becoming more expensive. Foreign buyers are now investing in more affordable renovation projects.
If you are thinking about investing in a property that requires renovation consider the following:
Time
Assuming the building structure is in good order a complete renovation should take between 6 months to a year.
Cost
Initial estimates always have a tendency to be on the low side so you should add 15 - 20% on top to get a more realistic figure. Large renovation projects are completed and paid for in stages. For example, if you have invested in an old farmhouse, it is often the case that the upper floor was the living area and the ground floor the working area of the farm, meaning, the ground floor will cost more to renovate. You should also be aware that building estimates are almost always for building work only and, will not include plumbing and electrician’s costs. When renovating the best advice is to always ensure that you have a good supervision service, they are there to co-ordinate the design, development and work on your new home, ensuring that each stage is completed on time within budget.
