Well aware that renovation projects are prone to run over budget, when expats Suzy and Jeff Coy bought their rural property in Italy’s Abruzzo region, they were keen to save money wherever possible.
The Coys, who bought their Italian home in 2008 and relocated there in 2009, knew they would need to make a series of payments throughout the restoration process, so wanted to find the most effective way of exchanging their pounds into euros and making transfers to Italy. Research led them to Smart Currency Exchange, an international payment specialist with a strong focus on helping British people buy property abroad.
“To date we’ve made more than 20 transactions from the UK to Italy with Smart,” says Suzy. “These have ranged from £2,000 to £20,000 and they have always given us by far and away the best exchange rate available, as well as excellent service and useful advice. In the future we’ll definitely use Smart to transfer our pensions from the UK to Italy and having learned about forward contracts, we’ll look at this option for helping us to fix our monthly income.”
Restoring their property hasn’t all been plain sailing for Suzy and Jeff, originally from Kent and a retired nurse and schoolteacher respectively. The couple had to alter their plans – and spend much more than expected – after new building laws were unexpectedly introduced. “After the earthquake in 2009, the building regs for foundations were tightened up in Italy,” explains Suzy. “This meant we were forced to build from scratch an extension we had initially intended to have built on existing foundations.”
Thankfully, the couple persevered and the end result is a pretty three-bedroom property, which can be split into two separate living areas, set on the edge of a hamlet in the rolling landscape of inland Abruzzo. Pescara, with flights from the UK, is 43 kilometres away, so not too far to pick their two sons up when they visit from the UK, while in the other direction the house has spectacular mountain views of the Gran Sasso national park.
“We’re embracing a self-sustainable lifestyle,” says Suzy. “We have five hectares of land here, three of which are wooded so all our heating comes from wood burners. We added a cellar where I now make preserves and jams – we’re constantly learning a lot. We decided to move here to take early retirement, but it’s still hard work!”
The two-bedroom section of the Coys’ home is available for holiday lets, which include use of the property’s natural, chemical free swimming pool – said to be the first of its kind in Abruzzo. For more information click here.
To search for property in Abruzzo, or any part of Italy, visit the Italy listings on Rightmove Overseas and for more information on the buying process in Italy, download your free Italy Buying Guide.
For more information on how Smart Currency Exchange could help you with international currency transfers, whether you’re buying a second home or emigrating, visit the Currency Zone on Rightmove Overseas or download a copy of Smart Currency’s free report