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A Superb Restored Historic Villa with Contemporary Interior
€1,950,000
$2,125,500
€
$
Fauglia, Tuscany
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6
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Ref #: 3241
Florence, TuscanyRef #: 3241
Marvellous and truly unique villa on the first hills of Florence, where every detail has been rigorously thought out and is in harmony with each other. Maximum comfort, large spaces, finishes in marble and precious woods, latest technologies and custom-made furniture by great Italian masters, in addition to the beauty of the colourful and fragrant garden which also houses a beautiful mosaic swimming pool – these are the main features of this dream house.
Location
At the gates of the historic centre, near Porta Romana and Piazzale Michelangelo, in one of the most exclusive areas of Florence. An ideal area for those who want to enjoy life just outside the city thanks to the gardens and slightly hilly position, but at the same time being only 5 minutes from the historic city centre and having all the services at hand.
Description
The main entrance to the villa through an armoured door at the back leads to a large entrance hall with a majestic staircase with wooden steps and wrought iron railing embellished with a large window decorated with lilies. Ground floor, enriched by classic-style arches and boiserie, completely dedicated to a living area – TV and relaxation area, reading area and dining area with access to the porch always thought in the way to enjoy an outdoor lunch or dinner with a wonderful view of the centre of Florence.
To complete this level, a large kitchen equipped with a large fridge for wines as well as all the other necessary appliances, with an independent entrance from outside for greater comfort and staff, a large closet compartment, two bathrooms for guests and a guest suit with its own en-suite bathroom. In the less visible part there is also a wooden staircase that connects all the floors of the house.
Going up the majestic staircase from the hall you reach the first floor totally dedicated to the sleeping area. On the sides there are two bedrooms for the children, each with a double bed, its own en-suite bathroom and wardrobe. While the central section is dedicated to the main suite of over 100 sqm, double wardrobes, large bathroom with tub and shower, bedroom with custom-made wardrobes along the entire length, relaxation area and finally a study that is separated from the bedroom by a beautiful wooden door decorated with lilies and which can also be accessed from the hall.
From here you can also go out onto the beautiful terrace overlooking the Duomo, where it is pleasant to practice yoga, read a book or spend some relaxing moments.
The third floor is made up of an open plan area and is currently divided into three parts – the central part with access to the pocket terrace is designed as a bar, TV area on one side and a spa area on the other. Serving this level are a closet and a bathroom, and it is easy to convert this floor into a further bedroom with its own outdoor space.
While the underground level houses the service part and boasts an independent entrance from the outside – an area for the staff consisting of a large bedroom and bathroom, large laundry with professional equipment, boiler area and closet, as well as ample space dedicated to wall cabinets.
External and closed garage has space for 3 cars and has the part for a technical room serving the pool.
Outdoor spaces
The villa has private land of over 6000 square meters, where a beautiful Italian garden has been created with colourful patches of flowers, hedges and centuries-old plants such as oaks, olive trees, maritime pines and cypresses. In the position not to be glimpsed by anyone, there is a beautiful mosaic swimming pool with salt water with a relaxation area and above the garage a paved terrace with a metal pergola which in addition to offering a pleasant outdoor space offers a truly unique view of the Brunelleschi’s Duomo.
Condition and Finishes
Both internally and externally the property is in excellent condition thanks to continuous maintenance by the owners. During the works finished in 2012, only the highest quality materials were used such as marble, and high quality wood.
The house offers every comfort such as centralized air conditioning, underfloor heating, automated blinds, home automation and alarm. Many pieces of furniture have been made to measure, as well as decorations that show the symbol of Florence – the lily – decoration on the marble floor in entrance hall, on the first floor in wood and furniture designed by great masters such as Savio Firmino.
Potential use
A splendid property for a family who wants to have large spaces in the context of full luxury on the outskirts of the historic center of Florence.
Address: Florence, Tuscany
Location type: City
Condition: Restored
Bedrooms: 5
Bathrooms: 7
Property size: 710 sq meters
Land size: 6,000 sqm
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.
