Why settle for a country house when you can settle in a foreign country? Carolina Buia reports on making yourself at home in nine to-die-for destinations

Overview: The Italian countryside continues to inspire writers and filmmakers alike. Consider Frances Mayes, whose Under the Tuscan Sun caused a near stampede into Tuscany upon its 1996 publication and has since been adapted into a movie starring Diane Lane. Today, Tuscan real estate comes at a premium, especially between Florence and Siena, in the popular Chianti region, where a modest—albeit fully restored—villa will set you back about half a million dollars. That said, agent Giorgio Piccini advises that deals can still be unearthed in the town of Valdarno, half an hour southeast of Florence. And the adjacent region of Umbria, emerging as the next hot spot, boasts prices about 40 percent lower than those of its more established neighbor; popular areas include Todi and Lake Trasimeno, outside Perugia. Urbanists should expect to pay up to $900,000 for a 1,000-square-foot apartment in the center of Florence. For those willing to go a bit farther afield, the lush island of Sardinia has up to eight flights daily in the summer from cities like Rome and Milan; foreigners tend to settle on the Costa Smeralda, in the northeast of the island, where small villas with gardens start at $180,000 and oceanfront mansions hit eight figures.

Fine print: There are no restrictions on foreign ownership. Once you zero in on a home, have a geometra (surveyor) assess the structure before entering into the compromesso, or preliminary contract, at which point a 10 to 30 percent deposit is required. If you change your mind, the seller is entitled to keep the deposit; if the seller gets cold feet (or a better offer), you can expect to receive double the amount of your deposit. The final rogito, or contract, must be signed in front of a notary; the buyer and the seller split the one to three percent notary fee. A ten percent property tax is levied on the "declared value" of your new home. (The declared value is often lower than what you end up paying the seller; the difference between it and the purchase price is usually paid in cash at settlement.) Although mortgages are available, approval can take an inordinate amount of time. Rural property is subject to an archaic law that allows your neighbors first-refusal rights on any land used for agricultural purposes—so before buying that estate with a vineyard, make sure you're getting the grapes.

Hidden costs: Sellers have been known to ask for up to 40 percent of the purchase price for the compromesso. Italy's value-added tax is 19 percent.

Rental prospects: Summer is high season in most of Italy. In Tuscany, villas rent for $800 to $9,000 a week, depending on size and location. In Umbria, they tend to go for 10 to 20 percent less. Although September and early October are slower, there is still an active rental market. As for Sardinia, over the past 30 years, restrictions on new housing have inflated rental prices. A two-bedroom apartment with an ocean view can fetch $2,300 a week. In high season, villas tend to rent on a monthly basis, with a five-bedroom home steps from the beach starting at $25,000 a month.