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A Superb Restored Historic Villa with Contemporary Interior
€1,950,000
$2,125,500
€
$
Fauglia, Tuscany
7
6
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Ref #: V5801M-X
Volterra, TuscanyRef #: V5801M-X
We are delighted to offer you this beautiful, recently restored villa, located in a quiet position, immersed in the unspoilt countryside of Volterra, just a few minutes from the city and its services.
The house has great charm and has been tastefully renovated. It boasts fabulous stylish interiors that respect and enhance its original character.
Externally the house has terraced gardens and a beautiful swimming pool.
The property is easily accessible via a country road in good condition, and is spread over a total of 375 sqm, on two floors, accessible both by internal and external stairs, plus a small original 30 sqm barn currently used for storage. The barn could also be used as a garage thanks to the double door that allows access to vehicles.
On the ground floor the house boasts a spectacular kitchen with large island and dining area, and this leads directly to the porch with brick arches, where there are sitting and dining areas sheltered from the sun and with splendid views of the flowering terraces and the surrounding countryside and garden.
The porch is a cool place, perfect for having meals outdoors away from the summer heat, where you can enjoy a refreshing breeze.
Adjacent to the kitchen is the laundry area and a technical room with pantry.
From the kitchen you enter directly into the spacious and bright living area which is divided into three zones – a small winter sitting room with an old stone fireplace, a central sitting/dining area and a further possible dining area with a large welcoming table.
Also on this level we find a guest bathroom with shower.
On the first floor, the hallway has been transformed into a bright, airy and summery living room with access to the balcony which has a splendid view.
There are four spacious bedrooms, one of which is currently used as a study, with utility room.
There are three bathrooms, two with a shower and one with a bathtub.
Thanks to the unusual large windows, the villa has splendid natural light which makes the interiors bright and luminous and these openings allow the summer breezes to naturally refresh the rooms during the summer.
The house has undergone significant renovations both internally and externally. The walls have been painted in terracotta shades, the shutters in green/blue pastel colours – the typical tones of the farmhouses of the past.
The choice of these colours by the owners preserves the natural rusticity of the house and its charm.
The sale includes 1.16 hectares of land ensuring full privacy. There are some olive trees, beautiful mulberry trees and an old acacia near the house. The owners take perfect care of the land which boasts a varied quality of Mediterranean plants, flowers and herbs such as rosemary, thyme and lavender.
This quiet and peaceful environment creates a unique and romantic atmosphere in the natural and uncontaminated context of the property where you can hear the birds singing and see deer and hares running free in the fields.
Part of the land surrounding the house is completely fenced, ideal for pets or infants, a perfect place for them to play in complete safety.
There are gates to the rear of the house and also a large parking area and access to the south side.
The above ground swimming pool, surrounded on two sides by a teak wood terrace, is perfectly set into the ground, a perfect place to admire the sunsets and the unique view over the city of Volterra and its surrounding countryside.
Distances: The property is only 4.9 km from the historic centre of Volterra, 33 km from San Gimignano, 73 km from Pisa, 46km from the coast, 83km from Florence, 57km from Siena and 79km from Lucca.
The asking price does not include furniture.
Address: Volterra, Tuscany
Location type: Rural
Condition: Restored
Bedrooms: 4
Bathrooms: 4
Property size: 375 sqm + 30 sqm
Land size: 1.16 hectares
A notary is a qualified lawyer who is employed by the Italian government. When you are buying Italian property, it is a notary who conducts the legal transfer of a property from vendor to buyer, and prepares the deed of sale, checks there are no charges on the property, title issues and with the assistance of a technician such as a geometra or architect, checks the property conforms to all planning issues.
It is always the buyer and not the vendor who pays the purchase taxes due and who pays the notary fees also. This means that it is up to the buyer which notary is used. In practice it is usually one of the local notaries and we can recommend which one to use and which one is cheapest, as notary prices do vary.
We provide a detailed list of all fees and taxes (including the notary’s quote) before you sign any contracts.
Translator – if you do not speak fluent, enough to understand detailed legal contracts, you will need to have a translator at the notary deed. Your agent or the notary will usually arrange this so you don’t need to worry about it. The cost varies but is often 200-300 euros. This can sometimes be shared with the vendor if they are also non fluent in Italian.
This depends firstly on two things.
A. Are you buying as a resident or a non resident?
B. Are you buying from private individuals or from a company?
If you are buying from private individuals, then the taxes you pay are based on the cadastral value – a nominal value which each property has and which depends on its size, location, standard etc – nothing to do with the market value.
Example 1:
House price agreed €100,000.
Property belongs to private sellers.
Cadastral value of the property €32,000.
Let’s say you intend buying the house as a non resident (.ie. you do not intend moving to Italy permanently and applying for residency).
Taxes payable are 9% on cadastral value €32,000 so €2,880 plus a few smaller fixed taxes.
Or, if you intend moving to live in the house permanently, applying for Italian residency, then as long as you don’t already own another property in Italy;
Taxes payable are 2% on cadastral value €32,000 so €640 plus a few smaller fixed taxes. A minimum figure may be payable.
Please note, you could buy the house as a resident and pay the lower rate of tax if you intend moving there and obtaining residency within the next 18 months. Don’t be tempted to do this unless you are definitely sure you will become a resident. If you then do not, you need to pay the difference in taxes plus a penalty of around 30%.
If there is substantial land (not just a garden) with the property, then 15% is payable on the value attributed to the land, which can be quite low, eg a value of €15,000 could be attributed to the land so 15% of 15,000 = €2,250 would be the tax on the land.
Example 2:
House price €100,000
Property is being sold by a company
Cadastral value of the property is €32,000
Let’s say you intend buying the house as a non resident (i.e. you do not intend moving to Italy permanently and applying for residency).
Taxes payable are 10% VAT on full market price €100,000 so €10,000 plus a few smaller fixed taxes.
Or, if you intend moving to live in the house permanently, applying for Italian residency, then as long as you don’t already own another property in Italy,
Taxes payable are 4% VAT on €100,000 so €4,000 plus a few smaller fixed taxes.
Once we know
– which house you want to buy, its cadastral value and who owns it (company/individual)
– whether you intend to buy as a resident/non resident and if it’s your first property in Italy
only then can we ask the notary to provide a quote for the precise taxes payable.
Other circumstances
Then of course there are other scenarios.
If the value of the property you want to buy is very low (eg €50,000) then purchase costs are likely to be a higher percentage as there are set minimums to pay for all fees and taxes. So on a €50,000 house, you are likely to pay 12-15% instead of 10% (non resident).
You might want to buy a property (being sold by private individuals) with your company. Taxes are considerably higher in this case, as they would be 9% on the sale price (not on the cadastral value). So it’s cheaper to buy a privately owned property as a private individual, not as a company.
But, in the case of a country property which is a farm/winery/agriturismo, these are often owned by a farming company (azienda agricola) , which has considerable tax advantages as you can buy the farm and pay just 0-1% (depending on the circumstances) on the purchase price in tax.
Taxes would be different for a commercial purchase, eg if your company is buying an Italian company (ie a farm or other company). Buying the shares of a company usually meets zero taxes, just a few fixed fees, and notary and accountancy fees.
The above is a guide, and once you have found a property you are interested in buying, we can obtain a notary quote for you, with a full breakdown of the taxes and fees due.
Notary fees – approx 1-2%, more for a lower priced property due to some fixed taxes.
Agency fees – in Italy both buyer and seller pay the agent. These are payable to the Italian agent (one of our partners) you view the house with at compromesso (preliminary contract) stage and for each party are usually 3% plus VAT. VAT is 22% in Italy. Minimums apply. Nothing is payable to Casa Tuscany so you will not pay double the fees, you will just have double the assistance!
Compromesso registration fees – approx €380 plus a part payment of taxes which is deducted from the total taxes due at completion.
Translator for the deed signing at the notary’s office. Required if you do not speak Italian well enough to understand legal deeds. Approx cost €250 – €350 depending on the notary.
Technical report for the notary. Checks all the planning issues of the property, making sure it matches the official plans, no works have been carried out without permission, gathers all previous permits, checks the house is sellable and not illegal in any way. Carried out by a geometra, architect or engineer and costs vary considerably, a minimum of €761 including VAT/ Please note this report is NOT a structural survey, that is an optional additional report you may wish to instruct.
Local council tax – IMU (formerly ICI) – payable only by non residents. This needs to be paid twice a year at the post office – no bill is sent. Most people use a local accountant or property manager to calculate it.
Refuse tax (TARI)
In some areas, mountain community tax.
If you buy a property which is part of a condominium, e.g. with shared pool and grounds, lighting etc, then there will be annual condominium fees to pay which usually range from about €200 to €1000/year unless it is a particularly luxurious property with many amenities in which case costs could be higher.
Utilities
You don’t really need an Italian bank account for buying a property in Italy any more as money is usually sent by bank transfer, although some notaries insist the funds are sent from an Italian account set up by you.
You could of course open an account to handle bills but bear in mind that some utilities companies refuse to arrange direct debits for non resident accounts, and some bills cannot be paid by direct debit.
You could always pay your bills online or if you have a property manager then send them the funds for settling all the bills.
If you do intend opening an Italian bank account, bear in mind that Italian bank charges are high . Usually there is a monthly fee to pay, plus charges for receiving money, paying bills, sending statements, etc etc.
