Index
A home for every salary
You're scrolling through listings for homes for sale and you've seen one that might be perfect for you: downtown, big enough to live and work in, affordable, and with all the comforts you need. And then you saw the price and thought: can I afford it?
Buying a house is a great idea. A question of accessibility
In recent months, we at Casavo have conducted an analysis to understand the issue of accessibility, that is, the type of house you can afford to buy today in Milan, Rome, Turin, Florence and Bologna based on income.
What have we done? We started from an income base, considering two scenarios of average monthly income: 1,500 euros and 2,500 euros net.
What house can you buy if you earn 1,500 euros a month
Let's start from the first scenario, a net salary of 1,500 euros per month and a 30-year mortgage at 80%.
What emerged is that you can afford a renovated studio apartment in the center of Milan, Rome, Turin, Florence and Bologna are small in size: they range from 20 m2 in Milan to 43 m2 in Turin.
In the semi-center and on the outskirts it is possible to buy a slightly larger studio apartment in all cities, except Turin, where purchasing power increases and it is the only city where it is possible to buy a two- or three-room apartment. In the suburbs of Milan, however, you can have 14 m2 more than in the center, while in Rome the difference is of 27 square meters, almost double that of Milan.
If, however, you are looking for a house torenovate, Turin is the best city: you can buy a 57 m2 two-room apartment in the center, an 88 m2 three-room apartment in the semi-center, and a 108 m2 four-room apartment on the outskirts. Buying a house to renovate is particularly advantageous also in Bolognaand Rome, where in the suburbs it is possible to purchase two-room apartments of 51 and 59 square meters respectively. The difference is not significant in Milan, where the choice of a house to renovate does not offer larger square meters. generous, not even in the suburbs.
And with 2,500 euros, what house can you buy?
With a salary of 2,500 euros and always considering the stipulation of a 30-year mortgage 80%, in case you wanted to buy a renovated house in the center, in Milan and Rome is It is possible to buy a studio apartment in Florence and Bologna a two-room apartment, while in Turin a three-room apartment. Under the same conditions, in the suburbs you can afford a 56 m2 two-room apartment in Milan, almost double the square meters quadri than in the center, or a three-room apartment in Florence, Bologna and Rome, while in Turin you can even think about buying a 136 m2 four-room apartment.
And what about renovating?In the center of Milan you can think of a 35 m2 studio apartment (3 m2 more than a renovated apartment) and 50 m2 in Rome (13 m2 more than a renovated apartment). In all cities, if the house to be renovated is located on the outskirts, the space available increases: you can buy a two-room apartment in Milan, a three-room apartment in Rome and Bologna, a four-room apartment in Florence, and even a five-room apartment, measuring 176 square meters, in the city of the Mole Antonelliana.
Bologna is the city where there are fewer variations in square meters between the center and semi-center, both in the case of renovated houses (+2 m2) and those to be renovated (0 m2 difference).
Which are the most and less accessible?
As you may have noticed, the city where you can buy the fewest square meters overall is Milan, regardless of the area, the condition of the house, and your salary. Turin, on the other hand, is the most accessible city. In particular, considering the second scenario with a salary of 2,500 euros per month, compared to Milan, if you choose to buy in the center of Turin you can afford a house 38 square meters larger in the case of a renovated apartment and 59 square meters if it needs renovation.
How to buy a house in increasingly less accessible cities?
In general, the scenarios that emerged from our analyses are complex. Young people looking for a home have to compromise with budgets, very small square footage, and skyrocketing mortgage interest rates.
At Casavo, we work every day to make buying a home as simple and transparent as possible. And with young people in mind, we created Casavo Mutui: completely digital, we offer a free initial consultation and support you from the beginning to the end of taking out a mortgage, to help you make the best choice for your future.