Budget for buying a farmhouse to renovate in Tuscany. Greetings everyone! I am after some advice about purchasing a rural farmhouse in the Lunigiana region.
Oh yes I have just checked out your website - am definitely bookmarking it for the future! I am mentally prepared for "surprises" and have convinced myself that it is indeed part of the fun with renovating a property in Italy :-)
Thank you giuseppinasibilla!!! This is exactly the type of information I have been trying to find. I really appreciate you sharing all of these details, and it's helpful to know that this is your area of expertise. As for the seismic load requirements, I haven't forgotten them... and my architect definitely hasn't either. But, I'm still waiting for more detailed quotes so had no idea how that might impact the bugdet. Based on what you've said, I guess I'm hoping it will be a "miglioramento sismico" I think it's normal that people are often asking questions on forums like this about renovation budgets! it's almost impossible to find information because things vary so widely, which is something I'm not used to dealing with for other renovation projects I've done in other countries. I think us soon-to-be-renovators kind of want to be able to say a house X size will cose €X in renovations, when in reality, there are just too many variables with rustic properties in Italy to be able to accurately predict costs. As for the transformation from barn to residential - I'm in no way suggesting it is a simple process, I'm just saying it has been agreed by the owners that this is a condition of purchase. So, if it is determined that we cannot convert the property, then the sale is void.So I have saved all of your comments as this is literally the first time I've had anywhere near this detailed of a breakdown of the potential costs, as well as the various steps (like the threshold of 10% for the seismic load) required and the names (in Italian!!) of the various specialists and experts that I will need to work with.This won't be an easy project, but it should be a fun one!!!Thank you again for your feedback, I really really appreciate it
Ok thanks - is that based on what it cost you for installing one? I'm finding such wide ranges of costs for Italy... I never thought I'd say something was easier in France...!!! Italy sounds like the wild west, in comparison
Interesting!! The kitchen and bathroom are the only two *I* have experience in already, so thought those figures should be accurate. Though I suppose the amount will depend a lot on fixtures & materials chosen, and I've already got that so I know the exact cost which helps. Good to know re: electrics though - thank you
Essentially, all I'm trying to understand is approximately how much I should budget to make the first floor of around 35m2 habitable, as well as around how far I can get with €10-15k in a 'first wave' of work.I've renovated that exact same surface area in Paris before and it cost me €18k, but that's my only reference point. I will obviously soon have quotes from contractors, but was hoping I'd get lucky and someone on here would have first-hand experience to compare with!My research so far suggests the following costs that I will have right away:
The project cost for what, just the usage change (ie, planning permission costs) from Rural to Residential...? I've been told that the architect + costs for presenting the project to the commune for planning permission for this property should range between €4-5k.
Ah okay, then I think we're on the same page. The property is indeed classed in the "C" category according to the papers I've received, and I've been quoted taxes of around €3650 for the purchase.
That of course all makes sense. But what are you suggesting, to not purchase a property that doesn't *already* have the relevant planning permission in place? In your experience, do you think planning permission being denied is a likely or common outcome? In the region I've been looking in, none of the properties already have the planning permission in place, so it seems hard to find, at least where I want to buy...!! The reason I mention the offer is that it is stipulated that we will be refunded deposit/fees paid if the property cannot be converted into a residential dwelling, and we won't close until this is confirmed.
I would suggest looking into Revolut. I use this card & account for all of my purchases in Euros, it's super easy to setup, they give excellent exchange rates, and there are no exchange fees. I haven't yet used my Revolut EUR account to pay bills in Italy, but I do have an IBAN and BIC attached to my "Euro Account" so in theory it should work. Will be testing it very soon... For purchases, I just transfer a chunk of GBP over into my EUR account from time to time (without fees and at the market rate, *not* the bank rate) and use it like a regular debit card. I won't be using my Italian bank card for any purchases in EUR, it's just easier to keep track of spending on my Revolut app.Lastly, regarding banks I haven't used them personally, but I did speak at length to Fineco Bank recently and I do know they're doing a big push at the moment to open GBP/EUR accounts for UK clients. Might be worth starting with them. Good luck!
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Oh yes I have just checked out your website - am definitely bookmarking it for the future! I am mentally prepared for "surprises" and have convinced myself that it is indeed part of the fun with renovating a property in Italy :-)
Thank you giuseppinasibilla!!! This is exactly the type of information I have been trying to find. I really appreciate you sharing all of these details, and it's helpful to know that this is your area of expertise. As for the seismic load requirements, I haven't forgotten them... and my architect definitely hasn't either. But, I'm still waiting for more detailed quotes so had no idea how that might impact the bugdet. Based on what you've said, I guess I'm hoping it will be a "miglioramento sismico"
I think it's normal that people are often asking questions on forums like this about renovation budgets! it's almost impossible to find information because things vary so widely, which is something I'm not used to dealing with for other renovation projects I've done in other countries. I think us soon-to-be-renovators kind of want to be able to say a house X size will cose €X in renovations, when in reality, there are just too many variables with rustic properties in Italy to be able to accurately predict costs. As for the transformation from barn to residential - I'm in no way suggesting it is a simple process, I'm just saying it has been agreed by the owners that this is a condition of purchase. So, if it is determined that we cannot convert the property, then the sale is void.So I have saved all of your comments as this is literally the first time I've had anywhere near this detailed of a breakdown of the potential costs, as well as the various steps (like the threshold of 10% for the seismic load) required and the names (in Italian!!) of the various specialists and experts that I will need to work with.This won't be an easy project, but it should be a fun one!!!Thank you again for your feedback, I really really appreciate it 
Ok thank you, this is very helpful.
Ok thanks - is that based on what it cost you for installing one? I'm finding such wide ranges of costs for Italy... I never thought I'd say something was easier in France...!!! Italy sounds like the wild west, in comparison
Interesting!! The kitchen and bathroom are the only two *I* have experience in already, so thought those figures should be accurate. Though I suppose the amount will depend a lot on fixtures & materials chosen, and I've already got that so I know the exact cost which helps. Good to know re: electrics though - thank you
Essentially, all I'm trying to understand is approximately how much I should budget to make the first floor of around 35m2 habitable, as well as around how far I can get with €10-15k in a 'first wave' of work.I've renovated that exact same surface area in Paris before and it cost me €18k, but that's my only reference point. I will obviously soon have quotes from contractors, but was hoping I'd get lucky and someone on here would have first-hand experience to compare with!My research so far suggests the following costs that I will have right away:
The project cost for what, just the usage change (ie, planning permission costs) from Rural to Residential...? I've been told that the architect + costs for presenting the project to the commune for planning permission for this property should range between €4-5k.
Ah okay, then I think we're on the same page. The property is indeed classed in the "C" category according to the papers I've received, and I've been quoted taxes of around €3650 for the purchase.
That of course all makes sense. But what are you suggesting, to not purchase a property that doesn't *already* have the relevant planning permission in place? In your experience, do you think planning permission being denied is a likely or common outcome? In the region I've been looking in, none of the properties already have the planning permission in place, so it seems hard to find, at least where I want to buy...!! The reason I mention the offer is that it is stipulated that we will be refunded deposit/fees paid if the property cannot be converted into a residential dwelling, and we won't close until this is confirmed.
I would suggest looking into Revolut. I use this card & account for all of my purchases in Euros, it's super easy to setup, they give excellent exchange rates, and there are no exchange fees. I haven't yet used my Revolut EUR account to pay bills in Italy, but I do have an IBAN and BIC attached to my "Euro Account" so in theory it should work. Will be testing it very soon... For purchases, I just transfer a chunk of GBP over into my EUR account from time to time (without fees and at the market rate, *not* the bank rate) and use it like a regular debit card. I won't be using my Italian bank card for any purchases in EUR, it's just easier to keep track of spending on my Revolut app.Lastly, regarding banks I haven't used them personally, but I did speak at length to Fineco Bank recently and I do know they're doing a big push at the moment to open GBP/EUR accounts for UK clients. Might be worth starting with them. Good luck!