Location
For my personal residence, other locations might prove more suitable, particularly if situated outside of Italy, as they may offer more favourable taxation on capital gains (see in particular Margin Exposure and Countries with Low Capital Gain Tax). However, this is a matter to address later in life, once I have clarity regarding my long-term domicile—namely, when some of the PhD Applications are successful and I can foresee remaining in one location for at least 3–4 years.
Despite its extensive bureaucracy, Italy still provides me with a relatively clear understanding of the legal framework, which allows me, for instance, to establish the Legal Constrains on Volunteers. Achieving the same level of legal clarity in a country where I do not speak the language would be far more challenging, as I would have to rely either on artificial intelligence or pay a professional to verify such matters for me.
These considerations, alongside the favourable Fiscals for small businesses in Italy and the general attractiveness of the country, lead me to identify Italy as the best location for the project.
As mentioned in the To Share Page for Volunteers, I believe that the optimal location for the project may be in Liguria. This region offers a unique combination of leisure and connectivity that is rarely matched either within or outside of Italy. Firstly, the Ligurian property market includes many older, inexpensive houses requiring renovation, which enables effective use of the resources provided by Volunteers. Secondly, Liguria is generally close to Milan, with Genoa in particular being very well connected. This proximity benefits most business models, as tourists and digital nomads alike would appreciate being able to reach the area within 2–3 hours by public transport from any of Milan’s three main airports. Finally, Liguria boasts a superb combination of mountainous terrain and some of the finest coastal areas in Italy, which suits business models such as Holiday Rental, Remote Work Rental, and enhances the overall appeal for Volunteers.
House Choice
Once it is established that the country will be Italy and the region is likely to be Liguria, the next step is to identify a suitable property. The criteria for evaluating the house should include the following:
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Affordability: In view of my Personal Finance and Margin Exposure, I could consider a more expensive property than those currently under review without requiring additional bank credit. However, doing so would increase the proportion of this project within my investment portfolio, thereby heightening financial risk without necessarily improving the project’s returns. The total housing costs should not exceed €45,000–€50,000 and consist of the following components:
- Purchase Price: €10,000–€40,000. The purchase price higher than €37,500 allows for a bank loan which would further increase the Margin Exposure, probably more profitable but also riskier.
- Bureaucratic Costs: €3,000–€5,000
- Company Renovation Costs: €5,000–€20,000. Work relating to the Roof, Hydraulic System, or Electrical System must legally be conducted by certified companies or individuals, and this constitutes a significant portion of the cost.
- Material Costs for Volunteer-led Renovation: €1,000–€10,000
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Capacity: The house must contain a sufficient number of bedrooms to make the project viable, ideally between 3 and 8–10 bedrooms. Furthermore, some outdoor space is essential—either for Event Hosting or for communal enjoyment by the Volunteers, Remote Work Rental, and Holiday Rental communities. Large external areas, such as gardens or woodland, are advantageous, as they allow for minor yet productive subprojects like constructing an outdoor gym, which could also benefit from long-term volunteer engagement.
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Location: The location must balance affordability with natural surroundings. Ideally, the property should be in a mountainous area but no more than a 40–60 minute drive from the sea. This proximity would significantly enhance the value of Holiday Rental and Remote Work Rental offerings, particularly if supported by transport options such as electric scooters.
List of Potential Houses
We classify these into two groups: properties on the open market and those available via auction. For each property, I include an estimate of the four cost components mentioned above, an assessment of the reliability of these estimates, and the number of bedrooms available. For auctioned properties, I also indicate the auction date.
Free Market
Alture Genova Est
Busallese
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Caprieto: Total estimated cost: €35,000 — reliable estimate
- Costs:
- Purchase Price: €10,000
- Bureaucratic Costs: €5,000
- Company Renovation: €15,000
- Materials: €5,000
- Offering:
- 75 m² walkable surface
- 3 double bedrooms + 1 attic room
- 70 m² tavern space
- Costs:
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Montoggio: Auction — 25.09
Finale Ligure / Savona
Alessandria