SHARE
COPY LINK

PROPERTY

My Italian Home: ‘I’d just found my little piece of paradise in Umbria, and now I’m longing to return’

Florida-based reader Christie Hardwick tells The Local how she found her dream apartment in Umbria - completely by chance - and is now longing to return to her new Italian home after having to postpone plans due to quarantine.

My Italian Home: 'I'd just found my little piece of paradise in Umbria, and now I'm longing to return'
The elegant apartment building overlooking the piazza in Umbertide, Umbria. All photos courtesy of Christie Hardwick.

One of my favorite things about this tiny apartment when I first saw it was the blue wooden shutters on all the windows. The apartment had been renovated by previous owners, who took it from a place in disrepair to a finished, elegant space.

The archways marking the entry to the living room, dining room and bedrooms, the wide brick of the ceiling and the rustic brick of the floor all tied together to make a sweet cocoon. I felt at home immediately.

But we had no intention of buying an apartment in Italy. As a matter of fact, my wife and I had sold our second home and declared we’d never own another!

We had been in Italy for five months already back in 2019 when we came to the town of Umbertide, in Umbria, to visit the market that we frequented twice a week for fresh food and supplies.

I was in Italy for most of 2019 to celebrate my 60th year. We had been coming to Italy together for 15 years, staying in the same farmhouse 15 minutes from the town, and we had another month before our visas ran out.

On this particular day, our friends were having coffee in the piazza in the centro storico. We sat down, with our bags bulging with cabbage, tomatoes, onions, mushrooms, faro and rustic bread, to share an espresso.

After our coffees arrived our friends casually mentioned the apartment and of course we wanted to see it. It was just above where we were sitting in the same building as the coffee shop, Bar Mary, which we frequented every week. We loved supporting Irine and Mary, the sisters who owned and operated it.

The building was over 400 years old, but in great condition. Walking up the stone stairs, we were surprised when we counted 67 to the top where the apartment was – and I already surmised that this would be good to keep us in shape.

We walked through the apartment, complimenting our friends on their decor and design choices. It had everything you’d need. A living room area, a dining area, a kitchen, two bedrooms and two bathrooms. We sat on the couch and chatted about their life in Umbertide.

Once we were in our car on the way back to the farm house, Jane erupted, “the place is adorable but no way are we buying another house!”

I smiled without protesting, quietly plotting how to get her from that position to mine. I already loved and wanted the place..

The renovated farmhouse where we were staying sat on top of rolling hills overlooking the Niccone Valley and olive groves. The sunsets were spectacular, the grounds beautiful, and the hiking trails plentiful.

We loved it and had been back at least eight different times for up to six weeks at a time. This time we were staying for two months.

One thing I began to notice is that even though we spent the first part of the year in Italian Language school, we were rarely practicing because we were isolated there. I realized that I wanted to be in the village because I wanted to learn the language by using it every day.

Eventually, this argument, and my passion – and willingness to handle the entire transaction – convinced my lovely mate. We got to stay in what we named our Piccolo Paradiso for two weeks before needing to return to the states.

Waking up to the views of the town square or the view of the river and rooftops was delightful. While we were looking forward to returning to our home in St. Petersburg, Florida, and visiting our children in Chicago and San Jose, California we were happy that our little place in Umbertide would be waiting for us.

Our first visit back since October wasdue  to be mid-April. But now that is the expected time for the coronavirus outbreak to peak in Italy. We are shattered for the whole country and all those suffering, and we were so sad not to visit our new home and our friends.

We had friends there before we bought our little slice of heaven. We were regulars at Ristorante Calagrana and the proprietors Albi and Eli are like family now. We met our neighbor Chiara and can’t wait to get back and deepen our friendship, along with our other expat neighbors Nancy, Luther, Joseph and Paul.

I especially can’t wait to get back to the Italian language. It is a dream to be fully capable in this lyrical language before my demise.

But for now, #iorestoacasa where I am.

 

Christie Hardwick is a spiritual teacher, wellness and prosperity coach, performing artist, leadership guru, and the author of The progressive wedding book. Read more about her work here.

Member comments

  1. Love your story and look forward to hearing more when you return. I hope to someday soon spend a couple of months in Italy learning the beautiful language.

Log in here to leave a comment.
Become a Member to leave a comment.
For members

PROPERTY

Is now a good time to buy a home in Italy?

If you're looking at buying Italian property, is now the right moment? Falling interest rates and a sluggish market mean it may be as good a time as any, experts say.

Is now a good time to buy a home in Italy?

High demand, low supply and a recent cut in interest rates mean more potential buyers could soon be entering the Italian property market, pushing prices further upward.

This may not seem like the ideal time to buy property – but if you’re already considering a purchase, experts say it may be better to pull the trigger now.

Here’s a more detailed look at why right now may (or may not) be the right time to snap up the Italian home of your dreams.

Lower mortgage rates

Italian mortgage rates are now falling after two years of steady increases. The trend, first recorded at the start of 2024, shows no sign of reversing again as we near the end of the second quarter of the year.

Lenders are confident that the European Central Bank (ECB) will soon move to further decrease inflation, meaning that Italian banks are now starting to offer mortgages at lower rates again.

READ ALSO: Can I get a mortgage in Italy as a foreigner?

Higher inflation had since 2022 pushed rates up amid the cost of living crisis, making it more expensive to buy a house and slowing down Italy’s real estate market almost everywhere except for in the larger cities.

According to monthly reports from ABI, the Italian Banking Association, from November to April the average rate on new mortgages fell from 4.5 to 3.79 percent.

This decrease of 0.71 percentage points seems small, but has a significant impact on a mortgage of hundreds of thousands of euros, experts say.

“On a new 25-year loan of 150,000 euros, the corresponding saving on the monthly installment is 60 euros per month,” Guido Bertolino, head of business development at mortgage comparison portal MutuiSupermarket, tells Il Post.

Of course, this doesn’t bring interest rates back down to the low levels seen until early-mid 2022, when they averaged around 1.5 percent.

Italy’s average interest rates on new and existing mortgages. Image: Il Post

Rates are expected to fall further later this year following ECB announcements – but, depending on the type of mortgage you’re in the market for, experts say it may be better not to wait for this to happen.

“When our clients call us and ask if it is worth waiting for further rate reductions to get a mortgage, what we explain is that future cuts will impact variable-rate mortgages only,” Bertolino says.

“On fixed-rate mortgages the reduction is already evident,” he says.

Slow sales

Another advantage to buying now, Bertolino points out, is that better mortgage rates will likely get the property market moving in a few months’ time – and house prices are expected to rise as a result.

The Italian real estate market is coming out of a complicated two years, in which sales have been down because of the increase in interest rates.

READ ALSO: Five clever ways to find a cheap home in Italy

Many would-be buyers are believed to have postponed the purchase while waiting for rates to go down. Data from Italy’s Revenue Agency on completed transactions shows that residential property sales were down 10 percent from the previous year.

The total average time needed to sell a house in Italy also increased slightly from five and a half to six months, the data showed, which suggests that it is taking longer to find a buyer.

What’s happening with house prices now?

The short answer is, not a lot: as has been the trend for Italy’s property market for many years.

According to official statistics bureau Istat, in 2023, house prices increased by an average of 1.3 percent: this was mainly driven by a 5.6 percent in the prices of new build homes, which remain a small part of the total number of properties available on the Italian market. Otherwise, prices remained more or less stable.

The other driver of increasing prices is location. Demand – particularly among investors – remains concentrated in large cities, according to Marzio Breglia, president of the Scenari Immobiliari research centre.

“Since 2020, the price of homes in the centre of Milan has increased by 15 percent, three times more than the Italian average,” he tells Il Post.

However, he points out, this is “less than in other major European cities: In Berlin they grew by 27 percent and in Paris by 20. And so did the rents.”

READ ALSO: Five things non-residents need to know about buying property in Italy

Another sector still seeing steady growth is the international market for second homes – so if you’re looking to buy from an agency specialising in this type of property, you may notice that prices per square metre are higher than average.

But Italy’s property market for the most part remains bogged down by a large number of older properties which can prove difficult to sell.

Some 54 percent of Italy’s housing stock is aged over 50 years, which is above the European average, according to analysis of Eurostat data by Italian financial newspaper Il Sole 24 Ore in 2021.

The rural location of most such properties, plus the amount of renovation work required, generally means there’s little interest from Italian buyers.

This does mean however that international buyers who are looking to buy outside of the most popular areas may find such properties on sale at surprisingly low prices.

For anyone looking to sell an Italian property in the coming months, whether asking prices are stagnating or rising will depend on the property’s location, condition, and type.

SHOW COMMENTS