Americans Bought Abandoned $1 Homes In Italy — Was It Worth It?
Americans Bought Abandoned $1 Homes In Italy — Was It Worth It?
In the late 2010s, towns around Italy started going viral for selling off crumbling properties for 1 euro, or roughly $1.05. How much does it really cost to buy and renovate a 1-euro home in Italy? And is it worth it? CNBC Make It spoke to several Americans who have bought a 1-euro home in Sicily, Italy.
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Many government restrictions. Spain is a better deal.
i get it. but why not invest in USA. you can deals like that in Gods county, Chicago.
Sporting impressive views into the neighbors wall located 5 meters away from your window.
That is total insanity. For 450.000 euros she could buy a mansion overlooking the sea in good condition. Also, obviously she doesn't need to work because in a place like that there are no jobs.
Buyers being Blacks and Single Suburban White Women.. CNBC fiction. Give me space aliens and bigfoot instead.
I wish I knew about this at the time
The house of the first woman is super beautiful, however it is for sure "premium" renovated, so I believe if you would be more modest and survive with some ikea or used furniture, it would be 150.000 😉 Amazing though… would love to have such a house!
wanna see an Italian that buys a home for 1 euro, not someone from overseas that don't know what cost money is earned here in Europe and Italy. why did they not buy a castle? will cost same with repairs and will look double more attractive
badass
That woman at the end saying a lot of people see it as a revival, but she likes to see it as a renaissance…that's exactly what renaissance means, rebirth.
For 475K you can live almost anywhere! 🤦🏻
Great article. I wish you covered the VISA requirements for non-EU. I guess being a US citizen you are limited to the length of time you are permitted to stay in Italy, unless you get a special visa?
where to buy these house now ?
Italians are smart. Letting Americans do the dirty work and pay for it 😂
hmm, a British guy supplying food in Italy? 😂
Just kidding, great work they are doing there, helping out people in need!
I'd keep it all Italian.
Enjoy your life, and do what you want. Italy is experiencing a population collapse. There is no growing demand for housing. Nobody is getting rich from real estate.
Omg I love the first story. The happiness nearly made me tear up.
So many UnitedStatesians in a single small town. That'll make Mussomeli the least desirable place to live in Italy in a short period of time… 🤷
Why not demolish all that and make forest?
You have to really like a place and its people to do something like this. Doing it as an "investment" is unwise and can ruin towns like these.
Checking into remote jobs as we speak
Im glad there seems to be a lot of respect for the old homes and not trying to change the Architecture to much. It is well to keep the local culture customs and traditions and these people seem great. Alas sometimes new people bring there old problems with them causing local upheaval.
Who can I contact to get more information about these deals?
Who is selling a house for €1? Even in deserted villages, it makes no sense.