Well, well, well. Quite a find this! You can move right in and work on the property at your leisure. For a newly retired person who is good at DIY, this is bargain territory. Way to go, Brad. 👍
Pretty sure the way it works as you pay your Italian taxes first. Then pursuant a tax treaty it has with the United States, you get full credit for the Italian taxes already paid. For me, it looks like my effective tax rate on all my income in the United States will be 7%. So it appears that 7% of my income would go to Italy. And the US would get nothing. If I’m wrong, somebody, please let me know.
No double taxation per treaty. Which ever calculates as the higher tax burden, you only pay there. US or Italy. Pretty sure, but be speak to a CPA that handles both US and Italy taxes.
Just bought your book Brad. Can’t wait to read it. Some of these towns are in earthquake zones. Could you point out what, if anything, they have done to prepare for possible earthquakes? I assume some have been remediated potentially. How does that work? What is the cost for that if it needed to be done? Ballpark. Also, Italian homes seem to be really overbuilt compared to America. Stronger and much thicker walls. Even the roofs look much stronger. Whether the homes are really old or new. Am I missing anything? Also, my understanding is that Italians really don’t get homeowners insurance. Maybe for this reason. Many of these houses are essentially fire proof or highly fire resistant.
Brad - I got the book just over a week ago and brought it with me on my vacation (holiday), and I have already finished it and it is now full of highlights and other notes I took while reading it. Well done! Great learnings!
Love this place, tons of opportunity! I would increase the size of the terrace and make room for some outdoor furniture, need the space for drinking coffee and staring at the mountains! This won't last long! Thanks for the video Brad... and Claudia of course!
As a Northeaster, knowing the whole country pretty well, that's not a part of Italy where I'd move....for loads of reasons. But it may suit some others, especially (senior) foreigners, who have different needs and perspectives
You pay zero property tax if you are officially a permanent resident and the house is your main residence. Otherwise, for second homes and holiday homes you pay the IMU (property tax, based on the size of your home and the amount and type of land you have). All properties pay the TARI, which is the local charge for services such as waste collection, street lighting, etc.
I love that place, Brad. I would convert the garage to a bedroom and put a covered carport outside. My only concern with location is that you do have to have a car, and you can't buy one unless you have residency, I'm told. How did you get around that? Is that covered in your book?
Just bought your book Brad. Can’t wait to read it. Some of these towns are in earthquake zones. Could you point out what, if anything, they have done to prepare for possible earthquakes? I assume some have been remediated potentially. How does that work? What is the cost for that if it needed to be done? Ballpark. Also, Italian homes seem to be really overbuilt compared to America. Stronger and much thicker walls. Even the roofs look much stronger. Whether the homes are really old or new. Am I missing anything? Also, my understanding is that Italians really don’t get homeowners insurance. Maybe for this reason. Many of these houses are essentially fire proof or highly fire resistant. Am I missing anything there? Pretty sure the standard homeowner policy there wouldn’t cover earthquakes anyway. You would need a special policy just for that which I suspect isn’t worth it. Nevertheless… An unexpected earthquake can wreck your day
All of Italy is basically some sort of an earthquake zone, but once you’re out of the mountains, it quickly becomes green zones like where I live here in Tuscany or even the flat areas in Lazio. If you just Google search “Italy seismic map” a really good probability map comes up and you can see that it’s basically the interior spine of Italy all the way down into Sicily. That’s the problem. In a lot of cases that’s why properties are so cheap in areas like Abruzzo.
Homeowners insurance is needed, we actually have fires here. But it’s very inexpensive compared to the United States for example example. One of our apartments is valued at about €1 million, and I believe we pay about €600 a year for homeowners insurance.
Brad, are there people who will dissolve a household in the US? Virginia? My mom is too old now to do it on her own and when I move to Italy, she is coming with me. Thanks
Very good layout, great views, decent balcony, useful and well-flowing living spaces, and some 'room' left to add your style with kitchen and if you need to change it..the bathroom. Is it correct ...there arent any olive trees on this land...just the view of adjacent ones?
No there are 20+ olive trees on the property... You can see them when I am walking by and the trees directly in the view are included. Side note: I got 180 Kilos of olives off of just four trees in my front yard here in Tuscany this year. That made 17 Liters of olive oil. Yum!
Because I won’t have guaranteed income probably until I’m 70, in 7.5 years, I’m probably going to go with the digital nomad Visa. I assume there should be no problem using that with the 7% tax areas. These programs are a win-win for everyone. If I’m missing anything somebody please let me know. 😀 Sorry to write so much… 😀
That’s fine. Just make sure you like where you are planning to live if you go with the 7% scheme. It only lasts 10 years and those areas are in the program for a reason.
Tax scheme…..😅lol …. (In American English) typically a “scheme” has a negative connotation…..almost interchangeable with the word “scam “……lol…..nice video 😅
Yeah, the British use the word "Scheme" interchangeably with the word plan. It is referred to here as a scheme. But my personal belief is that it is closer to a scam. 10 years... You get taxed back home more anyway. I would rather pay the full boat to Italy.
Does Italy have a minimum taxable income? I live on social security here and have not paid income tax for 13 years. I heard the 7% is only good for 5 years.
@BradsWorld Weeell when you present a house and you are filming all furnished its comon sense to tell us if comes with furniture included în the price.Tnx🧐👊✌️
Its a mess the site of cloudia too.Never says if furrniture included or not,when there is land too a few times it says how much and in pictures is not delimited with a colour so we can see from where till where🧐👎
There is a CNBC video about a woman who did just that down in Sicily. People are spending $100,000 to fix them up all the time. But you can buy really nice stuff here for much less and skip the hassle.
Paying income tax at a flat 7% rate sounds great at first blush, and it would be great for an Italian citizen resident in a qualifying comune, who in a non-qualifying town would be paying the normal, steeply graduated 23%-43% tax. But for a citizen of a country like the US, which taxes worldwide income based on citizenship, not residence, it's pretty much a wash. Sure, the Italian tax paid can be claimed as a credit on your US tax return, but you still pay the balance of your regular US tax bill to the IRS.
A UK taxpayer who secures an ERV would not be taxed in the UK, so for 10 years the 7% deal is good news. The downside of the 7% regime is that many of the qualifying towns/villages are short on services and lack decent public transport links. Another thing to consider is the effect of the Calderoli Law, which may reduce public funding in the southern regions. I'm thinking particularly of healthcare. Anyone thinking of applying for an ERV should speak to an accountant and a lawyer to get chapter and verse on their tax liability, and also on any potential changes to the 7% regime before they move ahead. Remember that you have to buy or rent a property before you can apply for an ERV, so you need to be as sure as possible that your application is not going to be refused.
This is all confusing to me. I've just started my journey looking into possibly moving overseas when I retire in 14 years. I'm from the U.S. and I'll be getting a Railroad Retirement pension. I'm confused about who I would pay taxes to? The U.S. and Italy? So I would be double taxed? Idk I guess I have plenty of time to figure it out.
You can't buy a passport, You must citizen for many years and now they are very strict. Is very complicated I know some Americans who bought a house but they can live only 3 months at the time as for European living in the US without papers.
Another 25k for a full time living house?? Those a houses have no insulation, crappy windows that need to be changed, and this one needs a new kitchen and bathrooms, a 1st floor that can be habitable, some serious TLC, and outside work on a lot that is quite small for being surrounded by nature. So yes, 75k is ok ish but you need to double that for full time unless you really don’t care. Thats just my unsolicited opinion 😊
We take all opinions. I still think €25K would get you everything you need. Or you could spend 200,000 in this area and get a 3000 square-foot home that is in perfect condition. The amount of choice here is overwhelming. There’s something for every budget and every ability.
Peteaulit, you could quadruple the selling price and still not find anything comparable in quality and value in the entirety of America, Australia, Canada and New Zealand.
@@pietro4772 I lived in Liguria in a construction just like that but habitable. I don’t know the prices for trades in the area where that house is located but I’d like to see how far one can stretch a euro.
In the US they have paint coatings that can be put over tiles. Whether they are in the shower, or on a wall, or somewhere else. I’ve had houses with that and it looks great and lasts indefinitely. For some Americans, the contrasting tiles are kind of overwhelming and offputting. Yes, I understand that different cultures have different senses of beauty. I assume they have such products in Italy? You simply paint the tiles and the grout. It can be sprayed on. Which does away with the grout cleaning problem… And for a basic interior repaint, what does that run normally?
Maybe €2500 for interior of the house. And you could probably get those tiles replaced with something a little less shocking for about 1000. I’ve owned a lot of apartment complexes, I don’t like the look of painted tiles, regardless of how well the paint sticks… Thanks for the thoughts!! 💪🏼🇮🇹❤️
For that price, it doesn’t even make sense to paint them. When income levels in an area are low, to get work done is as well. Things have to be priced according to what people in a given area can pay for them. Again, this is a win-win for everyone.
I am glad that all Italians have given you permission to speak on their behalf. How would Americans that support their own current president ruin Italy?
I’m Italian American and 100% support our current President. Trump has done more in two weeks than Biden has in 4 years! It would be nice if Brad actually vetted these posts as the one posted by @pica- usa79 is Wayyyyyy out of line!
Well, well, well. Quite a find this! You can move right in and work on the property at your leisure. For a newly retired person who is good at DIY, this is bargain territory. Way to go, Brad. 👍
Priced accordingly. No steal
I adore the bathroom 💚💚💚
The views are amazing, the house is a bonus! I love a place where I can add my own spin to it! Definitely worth it !!
Thought it was a winner too!
Brad, please double check that taxes paid abroad are a tax credit on your US tax return to avoid double-taxation. It’s been that way for decades
Pretty sure the way it works as you pay your Italian taxes first. Then pursuant a tax treaty it has with the United States, you get full credit for the Italian taxes already paid.
For me, it looks like my effective tax rate on all my income in the United States will be 7%.
So it appears that 7% of my income would go to Italy. And the US would get nothing.
If I’m wrong, somebody, please let me know.
No double taxation per treaty. Which ever calculates as the higher tax burden, you only pay there. US or Italy. Pretty sure, but be speak to a CPA that handles both US and Italy taxes.
Thank you for letting us now the directions, Brad!!! Great!!! Love this one...
Just bought your book Brad. Can’t wait to read it.
Some of these towns are in earthquake zones. Could you point out what, if anything, they have done to prepare for possible earthquakes?
I assume some have been remediated potentially. How does that work? What is the cost for that if it needed to be done? Ballpark.
Also, Italian homes seem to be really overbuilt compared to America. Stronger and much thicker walls. Even the roofs look much stronger. Whether the homes are really old or new. Am I missing anything?
Also, my understanding is that Italians really don’t get homeowners insurance. Maybe for this reason. Many of these houses are essentially fire proof or highly fire resistant.
Insurance for homes is cheap. Like €500/yr for a nice house (say €700K)
love the green bathroom
Something for everyone!!
You have the best finds. Coming for a month in May 2025. Hope to stay at one of your apartments. Can't wait to see the area
Brad - I got the book just over a week ago and brought it with me on my vacation (holiday), and I have already finished it and it is now full of highlights and other notes I took while reading it. Well done! Great learnings!
Thanks I am very glad to hear that. Don't forget to leave a review on Amazon.
@ Will do!
Love it!
So glad!
Love this place, tons of opportunity! I would increase the size of the terrace and make room for some outdoor furniture, need the space for drinking coffee and staring at the mountains! This won't last long! Thanks for the video Brad... and Claudia of course!
thanks for the input as always!
You’re such a great source of information!
Glad you think so! Thanks for watching!
As a Northeaster, knowing the whole country pretty well, that's not a part of Italy where I'd move....for loads of reasons. But it may suit some others, especially (senior) foreigners, who have different needs and perspectives
There you go!
Hello pretty Claudia!!
Great price + plus all those olive trees 🌳🫒🌳🫒🌳
You pay zero property tax if you are officially a permanent resident and the house is your main residence. Otherwise, for second homes and holiday homes you pay the IMU (property tax, based on the size of your home and the amount and type of land you have). All properties pay the TARI, which is the local charge for services such as waste collection, street lighting, etc.
No living room ?
I am a bit confused with the taxes...Do you have a video about that topic? Grazie 😊
I love that place, Brad. I would convert the garage to a bedroom and put a covered carport outside. My only concern with location is that you do have to have a car, and you can't buy one unless you have residency, I'm told. How did you get around that? Is that covered in your book?
Apparently the Italian Driver's License Test is written in Italian and Not easy.
Non-residents rent cars. For local trips, an eBike can be a cheap, legal way to get around independently.
@davidecasassa8679 renting is very expensive but I've heard you can buy or lease in Germany and hand it back at the end of your 3 months.
Just bought your book Brad. Can’t wait to read it.
Some of these towns are in earthquake zones. Could you point out what, if anything, they have done to prepare for possible earthquakes?
I assume some have been remediated potentially. How does that work? What is the cost for that if it needed to be done? Ballpark.
Also, Italian homes seem to be really overbuilt compared to America. Stronger and much thicker walls. Even the roofs look much stronger. Whether the homes are really old or new. Am I missing anything?
Also, my understanding is that Italians really don’t get homeowners insurance. Maybe for this reason. Many of these houses are essentially fire proof or highly fire resistant.
Am I missing anything there?
Pretty sure the standard homeowner policy there wouldn’t cover earthquakes anyway. You would need a special policy just for that which I suspect isn’t worth it.
Nevertheless… An unexpected earthquake can wreck your day
All of Italy is basically some sort of an earthquake zone, but once you’re out of the mountains, it quickly becomes green zones like where I live here in Tuscany or even the flat areas in Lazio. If you just Google search “Italy seismic map” a really good probability map comes up and you can see that it’s basically the interior spine of Italy all the way down into Sicily. That’s the problem. In a lot of cases that’s why properties are so cheap in areas like Abruzzo.
Homeowners insurance is needed, we actually have fires here. But it’s very inexpensive compared to the United States for example example. One of our apartments is valued at about €1 million, and I believe we pay about €600 a year for homeowners insurance.
Thanks
You are very welcome!
Molto interessante👍
I thought so too!
Yes. The U.S. and Italy have an agreement to that effect.
Brad, are there people who will dissolve a household in the US? Virginia? My mom is too old now to do it on her own and when I move to Italy, she is coming with me. Thanks
No idea... 🤷♂️
There are independant companies who plan and execute estate sales and manage the whole process
Very good layout, great views, decent balcony, useful and well-flowing living spaces, and some 'room' left to add your style with kitchen and if you need to change it..the bathroom.
Is it correct ...there arent any olive trees on this land...just the view of adjacent ones?
No there are 20+ olive trees on the property... You can see them when I am walking by and the trees directly in the view are included. Side note: I got 180 Kilos of olives off of just four trees in my front yard here in Tuscany this year. That made 17 Liters of olive oil. Yum!
This is what I am looking for home with the land. You have anything get back to me.
Check Alfano’s website. AlfanoRealEstate.com
There are a FEW municipalities that have the seven percent tax in Lazio also …. and a few in Umbria and in Marche.
Yes, they are exceptions made due to their being in active seismic zones. The government publishes a list naming every such town.
I was in the SF earthquake in 1989. I will pass on living in active zones!
Yeeeeep
Infelizmente existe muita casa quase de graça na Itália mais quase ninguém para interesse
Because I won’t have guaranteed income probably until I’m 70, in 7.5 years, I’m probably going to go with the digital nomad Visa.
I assume there should be no problem using that with the 7% tax areas.
These programs are a win-win for everyone.
If I’m missing anything somebody please let me know. 😀
Sorry to write so much… 😀
That’s fine. Just make sure you like where you are planning to live if you go with the 7% scheme. It only lasts 10 years and those areas are in the program for a reason.
Tax scheme…..😅lol ….
(In American English) typically a “scheme” has a negative connotation…..almost interchangeable with the word “scam “……lol…..nice video 😅
Yeah, the British use the word "Scheme" interchangeably with the word plan. It is referred to here as a scheme. But my personal belief is that it is closer to a scam. 10 years... You get taxed back home more anyway. I would rather pay the full boat to Italy.
Does Italy have a minimum taxable income?
I live on social security here and have not paid income tax for 13 years.
I heard the 7% is only good for 5 years.
Income tax is paid from dollar one at 23%, climbing to 43% at the 50K level. Not sure about the status of foreign pension/ss income.
@davidecasassa8679 I've heard cheating on taxes is common in Italy. With those taxes, I can see why. 😆 🤣 😂
Comes with the furniture included?
NOt sure. Probably on a full price offer. Ask claudia
@BradsWorld Weeell when you present a house and you are filming all furnished its comon sense to tell us if comes with furniture included în the price.Tnx🧐👊✌️
Its a mess the site of cloudia too.Never says if furrniture included or not,when there is land too a few times it says how much and in pictures is not delimited with a colour so we can see from where till where🧐👎
What person would be insane enough to purchase a one euro house and spend four hundred thousand euros doing the place up ? Surely nobody is that mad ?
There is a CNBC video about a woman who did just that down in Sicily. People are spending $100,000 to fix them up all the time. But you can buy really nice stuff here for much less and skip the hassle.
@ 👋 Hello guys, Some people it seems have more money than sense. Sadly for me it’s quite the opposite. 😞
Italian here: please consider also the cost for renovating the house because some works are needed anyway.
Yes we mentioned at least €25.000 for basic updating.. More if you want to get fancy!
I think when I'm old, I'll just sell my house in Germany and move to Spain or Italy
A solid plan for cost and the weather!
Paying income tax at a flat 7% rate sounds great at first blush, and it would be great for an Italian citizen resident in a qualifying comune, who in a non-qualifying town would be paying the normal, steeply graduated 23%-43% tax. But for a citizen of a country like the US, which taxes worldwide income based on citizenship, not residence, it's pretty much a wash. Sure, the Italian tax paid can be claimed as a credit on your US tax return, but you still pay the balance of your regular US tax bill to the IRS.
Yep. That was my point. So you stuck in a village most have left, paying more to Uncle Sam. Hmmmmmm
A UK taxpayer who secures an ERV would not be taxed in the UK, so for 10 years the 7% deal is good news. The downside of the 7% regime is that many of the qualifying towns/villages are short on services and lack decent public transport links. Another thing to consider is the effect of the Calderoli Law, which may reduce public funding in the southern regions. I'm thinking particularly of healthcare. Anyone thinking of applying for an ERV should speak to an accountant and a lawyer to get chapter and verse on their tax liability, and also on any potential changes to the 7% regime before they move ahead. Remember that you have to buy or rent a property before you can apply for an ERV, so you need to be as sure as possible that your application is not going to be refused.
This is all confusing to me. I've just started my journey looking into possibly moving overseas when I retire in 14 years. I'm from the U.S. and I'll be getting a Railroad Retirement pension. I'm confused about who I would pay taxes to? The U.S. and Italy? So I would be double taxed? Idk I guess I have plenty of time to figure it out.
I'm in. How do I buy it as I have a Eu passport?
You can't buy a passport, You must citizen for many years and now they are very strict. Is very complicated I know some Americans who bought a house but they can live only 3 months at the time as for European living in the US without papers.
Hello, I need a house in Amalfi cost
We all do! 🤣
That with taxes doesn't apply to EU citizens the same as non-EU citizens.
You need to explain that.
Not sure what you are referring too... You need to explain what I need to explain...!?!
Another 25k for a full time living house?? Those a houses have no insulation, crappy windows that need to be changed, and this one needs a new kitchen and bathrooms, a 1st floor that can be habitable, some serious TLC, and outside work on a lot that is quite small for being surrounded by nature. So yes, 75k is ok ish but you need to double that for full time unless you really don’t care. Thats just my unsolicited opinion 😊
We take all opinions. I still think €25K would get you everything you need.
Or you could spend 200,000 in this area and get a 3000 square-foot home that is in perfect condition. The amount of choice here is overwhelming. There’s something for every budget and every ability.
Peteaulit, you could quadruple the selling price and still not find anything comparable in quality and value in the entirety of America, Australia, Canada and New Zealand.
@@pietro4772 I lived in Liguria in a construction just like that but habitable. I don’t know the prices for trades in the area where that house is located but I’d like to see how far one can stretch a euro.
U and your showers...lol. Not me.
Yeah, It's my PTSD! I am trying to get over it!
Brad
Does Claudia have a partner ?
Asking for a friend lol
Just her Husband… 🤔
In the US they have paint coatings that can be put over tiles. Whether they are in the shower, or on a wall, or somewhere else.
I’ve had houses with that and it looks great and lasts indefinitely.
For some Americans, the contrasting tiles are kind of overwhelming and offputting. Yes, I understand that different cultures have different senses of beauty.
I assume they have such products in Italy? You simply paint the tiles and the grout. It can be sprayed on. Which does away with the grout cleaning problem…
And for a basic interior repaint, what does that run normally?
Maybe €2500 for interior of the house. And you could probably get those tiles replaced with something a little less shocking for about 1000. I’ve owned a lot of apartment complexes, I don’t like the look of painted tiles, regardless of how well the paint sticks…
Thanks for the thoughts!! 💪🏼🇮🇹❤️
For that price, it doesn’t even make sense to paint them.
When income levels in an area are low, to get work done is as well.
Things have to be priced according to what people in a given area can pay for them.
Again, this is a win-win for everyone.
Am Italian we welcome all Americans except maga trump supporters 😂😂😂 we don’t want to ruin our land…
We're on our way!
I am glad that all Italians have given you permission to speak on their behalf. How would Americans that support their own current president ruin Italy?
I’m Italian American and 100% support our current President. Trump has done more in two weeks than Biden has in 4 years! It would be nice if Brad actually vetted these posts as the one posted by @pica- usa79 is Wayyyyyy out of line!
I’m Italian American stand by Trump 100%! Everyone has their own views.
I enjoyed seeing Italian Prime Minister Meloni at Trumps inauguration celebrating his victory 🎉🎉🎉🎉