You will note that the purchase price of all these properties is under 200,000, but I have tried to factor in any necessary work or modernisation, All of them are in good structural condition, most are at least habitable as they are, but new kitchens or bathrooms may be needed, or are probably desirable, some may need rewiring and so on. See also properties under 150,000. Only two properties need no work, not because you can’t find modernised properties for this price, but because properties needing some work usually offer much better value for money.
To give you an idea, the first property I have chosen is some trulli, in the countryside between Ostuni and Cisternino. It is in a pleasant, village like area, with a shop and a bar within easy walking distance and with neighbouring trulli, but plenty of privacy due to the large garden. It is currently arranged as four bedrooms, four bathrooms, living room and good sized kitchen and with 2000 m2 of land. The septic tank doesn’t meet current regs, which would be a problem if you wanted to rent it out. A new, compliant, tank, would cost around 4000 euro. You might want to upgrade bathrooms and kitchen, but the property is currently lived in and doesn’t need other work. It is on the market for 190,000.
For the same money, well actually 5000 more at 195,000 euro, you can buy a recently tarted up trullo, with pool and 4000 sqm of land just outside Alberobello. This has two bedrooms (one, in a cone, just about fits a double bed with room for little else, two smart bathrooms and a kitchen/living room. The area outside the house has been nicely paved, and there are olive groves but no real garden or planting. There is underfloor heating. You could build another 40 sq metres which would give you another ensuite bedroom at a cost of around 40,000 euro. For those looking for a small holiday pied a terre, or a buy to let this is not a bad buy, and is fairly priced, but it is what it is.
There will always be buyers who want something absolutely finished, particularly in a foreign country where the idea of supervising workmen, possibly from afar, and certainly in a foreign language. One of the reasons I started offering project management is that seems to me a pity. I have restored my own houses in England, and helped people restore houses here and the quality of workmanship, and attention to detail, here is much much higher.
The next property couldn’t be more different – a picture perfect historic town house looking out to sea in Monopoli. Many of the houses in the centro storico are uilt like little towers, one or two rooms per floor. Often the staircases are breathtakingly steep and of slippery stone and the rooms are difficult to furnish, as the stairs run through them. This one has een really cleverly done, and is furnished and decorated in shades of lue and white. The internal stairs have een replaced with perfectly navigable wooden ones, Best of all there are two roof terraces (a sturdy wrought iron spiral staircase connects the lower and upper terraces) with fantastic views over the centro storico of Monopoli and out to sea from the top one. The house is in perfect condition, and is being sold furnished. It is an ideal buy for holiday use/holiday let asdalmost year round demand for holiday accommodation in Monopoli is high, and the sale price is very good for this area- 160,000 euro.
Accommodation is arranged as follows: on the ground floor there is a room with vaulted stone ceiling and a double sofa bed, with an attractive shower room/WC. Further up there is a livingroom/bedroom with a sofa/single day bed, another bathroom, a kitchen with breakfast table, a double bedroom and then the terraces. Small but eautifully formes, and beaches, shops and restaurants a short stroll away.
Another town property, in Alezio, close to Gallipoli, and around 30 minutes from Lecce, is different again, similar though in that there is a good demand for holiday rentals in the area. Prices are lower here though. This one has two options, you can either buy just the top floor of a period townhouse, with roof terrace, for 130,000, or add a further four rooms on the ground floor and a small courtyard for 175000 in total. The rooms are beautifully proportioned and there are the original floors, fireplace, shutters and vaulted ceilings, one painted. Either way there is a lot of space for the money. The top floor would provide two large bedrooms, a bathroom, a small reception room and a large, eat in kitchen with easy access to the roof terrace for al fresco dining. Adding the downstairs rooms would provide an extra bedroom, bathroom and a larger reception room or a separate guest suite with kitchen and courtyard. The property is in good condition, structurally, but would need rewiring, kitchen/s and bathrooms.
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