Is it better for you to rent or to buy a property in Italy?
Is it better for you to rent or to buy a property in Italy?

Whether you’re looking at villas, flats or holiday homes, you always have decision of whether to buy or rent, but which is best for you? It’s worth taking the following into account . . .

Cost of a mortgage vs. cost of rent: It’s not often you’ll be able to buy a property outright without a mortgage, which comes with its own monthly payments. You’ll have to do the sums carefully to see if those payments are more or less than you’d pay in rent each month, but there are other costs of owning a property, like maintenance, that you wouldn’t have if you were a tenant.

Tax exemption: There may be certain taxes you are liable to pay as a property owner that don’t apply to renters. Consider all the options and research how the local laws will affect you.

Know the area: Do most people in your desired area rent or buy? It’s worth getting the low-down on the neighbours and then crunching the numbers because the most cost-effective option can depend on where you’re living.

How your lifestyle makes a difference

Are you on the move or staying put? For people who have to move around a lot for work or family obligations, renting is generally the most sensible option as it provides flexibility. For stability and security, on the other hand, it may be best to buy.

Long- or short-term? As a rule, if you plan to live in the property more than 5 years, it is advisable to buy rather than rent. This holds especially true if you’re looking to rent out to tourists while you’re not there but not necessarily if the property will be your main residence.

The decision whether to rent or buy is yours, so think carefully and don’t take it lightly.