This cosy house is nested in the historical center of the hilltop town of Mussomeli in Sicily, a town which became worldwide known for the 1€ Homes project in 2019. The structure of the building does not need any major renovation, however some renovation works are highly encouraged especially considering that the Italian Government has introduced very convenient Tax Bonus to incentivize house renovations.
THE RESTORATION PROCESS
Italy introduced a new Tax bonus allowing you to potentially renovate the property for free. It is called superbonus and here we explain you how it works. Any individual owning property, regardless of his/her residency and citizenship, can access the superbonus as long as qualifying renovation works are carried out. Such works are:
- Energy efficiency improvements;
- Heating and cooling system improvements;
- Double (or triple) glazed windows installation;
- Solar panels installation;
- Seismic improvements
The allowance per house unit can go up to € 250.000; the house owner is then awarded a 110% tax credit based on the renovation works performed within the allowance. Once you are granted the tax credit you have three options:
- Offset it against your Italian tax bill;
- Trade the credit in to your contractors (resulting in a lower or nil invoice payable to your builders);
- Trade the credit to a financial institution.
Retire2Italy will help the winner in benefiting the tax credit, as well as trading it to a contractor or a financial institution in order to get back as much as possible in taxes reducing the costs of renovations potentially next to 0!
In our estimate the superbonus covers in full the renovations required for this home.
THE PURCHASE PROCESS
In order to buy the property you must witness the notary deed (estimated in around 2.000 €); if you can’t witness in person one of our staff members can represent you to in front of the notary at no additional charge.
Sicily is the largest island of the Mediterranean sea, it’s an agricultural region full of history, art, architecture and culinary traditions. Due to its strategical position in the middle of the Mediterranean, Sicily throughout the history was inhabited by almost every civilization of the Med basin and Europe: Greeks, Romans, Arabs, Normans, Spaniards, Byzantines, Phoenicians and many others. Each of them left the island richer and today you can see that by how local people are friendly and the food is genuine and fresh. Another plus of Sicily is the great weather throughout the whole year, but especially during summertime when Sicily and its amazing beaches become a major holiday destinations for Italians and foreign tourists!