Buying an expat retirement home in Italy’s Lake Como region

If Italy has always featured in your retirement dreams, a property close by Lake Como could be more affordable than you realise.

In many ways, Italy is a dream destination for its food, wine, sheer beauty, charm and fascinating history and heritage. Those looking forward to retirement but disenchanted with developments in the home country have many worldwide choices as regards a retirement destination, but not everywhere is as seductive as Italy, nor as spectacular and affordable.

One of the first decisions involves location, location, location, just as in the home country, with the second often affordability of a property in a favourite destination. Historically, homes around Italy’s famous Lake Como are associated with the high life, interpreted as expensive and centred on luxury, but there are areas where affordable properties can be found, especially by those who’ve always enjoyed the British obsession with interior DIY.

According to real estate agencies in the region, there are properties to suit the average expat budget, and prices are usually far more negotiable than many would-be expat retirees realise. It’s hard to imagine bargaining for a discount of as much as 30 per cent back in the UK, but it’s normal in Italian real estate deals, and usually dependent on the financial situation of the owner. One thing potential expat retirees need to realise is that purchasing a property in this region brings a responsibility to protect its history and heritage as it’s the soul of the home. If this concept appeals, then this region is for you.

Another plus point of settling in the Lake Como region is that its investment potential is higher than almost any other Italian location, with current figures at between six and seven per cent annually. At the present time, it’s fairly straightforward to get a mortgage, with 60 per cent of the actual house valuation for 15 years as the usual requirement.