Since restoring our first property well over 10 years ago, and having helped many clients create their own dream homes along the way, my husband and I decided that it would be rather fun and a good investment to have another go at restoring a dilapidated property for ourselves. It wasn’t quite the right time for us to be undertaking a big restoration project, but we felt it was definitely something that we wanted to get working on. We decided Lake Como was the right location for us and began utilising our network of contacts to source suitable options.

Through one of these contacts in Lake Como we quickly found a cluster of rustic stone properties with an amazing view of the lake and, best of all, it was completely derelict. It was definitely an opportunity not to be missed. The location was perfect and the price was right. We moved quickly to secure the purchase, which was fortunate because subsequently we have had numerous offers from interested buyers. We spent the next three years planning, designing and just visiting our little ruin every time we were in Lake Como. We would sit amongst the debris and the dust watching the sun go down and visualise the day when our designs would eventually come to fruition. Recently, the restoration process has started and the phoenix is finally starting to rise.

Many people comment that the time is not right or that they don’t immediately have all the funds available to complete their property. So they put everything on hold. However, this may not be the best policy. If you are not able to undertake the complete process of finding, buying and restoring all at once, then break it down into different stages.

The smart thing to do in the current economic climate is to find and buy the property in order to secure your footing in the Italian property market. A derelict property is not going to reduce in value. In fact, the process of obtaining planning permissions will add significant value to a property and won’t cost much to do. Having time on your side can also make the Italian bureaucracy a lot less stressful as well. The important thing is to secure the property. You can then hold on to it until the time is right to begin any renovation or restorations needed. This could be anything from a few months to a few years; whatever is right for you. You can also use the time inbetween to work through any design issues.

If you want to buy the property for investment purposes, it is essential that key criteria are adhered to. The old adage “location, location, location” should be strictly heeded; this is something that you shouldn’t compromise on.

Keep your eye on the property market at regular intervals so that you are there, ready and waiting, to snap up the perfect property. Remember: in Italy that perfect property may not be handled by a traditional estate agent. Many of the best properties we have found for our clients never touched the open market, so consider other routes to market.

So if you have your plan in place and you are poised and ready, you will be in the perfect position to snap up that incredible investment property as soon as it comes onto the market. Be a smart investor and find a great property at a good price in the perfect location.