03-15-2023, 08:41 PM | #1 |
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$1 Homes in Italy
I first heard about this in 2019 and was intrigued. Looking into it, the one thing that held me back was living in a remote town with not much to do. Fast forward a few years and I have read about and watched videos of couples who went through with it. I’m sure for every one that turned out well, there were many others that gave up.
I was chatting with a friend from work and he said that his family doesn’t plan on buying in the Bay Area because it is expensive as heck. They would want a pretty nice house which around here is in the multi-million range. He joked (I think?) that they might just end up with a $1 home in Italy at some point. They love Italy as much as I do so it makes sense. That rekindled my interest in it but again, the same concerns above came back. Ultimate, the final cost could be upwards of $100K+. If I were to buy a place, it would be in cities like Verona, Milan, or Rome, even if it’s much more expensive. Anyhow, was just wondering if anyone here has experience in that or knows someone who’s done it successfully. It’s an interesting topic to me. |
03-15-2023, 08:57 PM | #2 | |
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03-15-2023, 09:34 PM | #3 |
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This is one of countless articles and videos on the topic.
https://www.pointchaser.com/how-to-b...home-in-italy/ Home listings for $1: https://www.case1euro.it/ https://www.comune.sambucadisicilia....201%20euro.htm |
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Jackie Chiles1003.50 2008M36MT599.00 |
03-15-2023, 10:54 PM | #4 |
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Go buy one. Then you can come back here and post in the "What's the worst financial decision you've ever made?" thread.
On a side note, James May has a series called Our Man in Italy. He did a short segment on one of these homes. It wasn't pretty.
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03-15-2023, 11:01 PM | #5 |
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I've read similar stuff about Japan. Apparently it's not as simple as get a $1 house. Lots of requirements and they are $1 for a reason. The cost to fix them, taxes, tear them down or whatever is not usually worth the value of the home or land. Anyways I guess it's great for people who have or want to spend the time money and energy to figure it all out.
I'm good living here. |
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03-15-2023, 11:30 PM | #6 |
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Just read the fine print about what is required after purchase, then go look at the pictures showing the condition of some of the available places...
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03-16-2023, 02:24 AM | #7 |
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If you can VPN to watch UK tv programs
https://www.bbc.co.uk/iplayer/episod...es-1-episode-1 This pair buy a 1 Euro property and do it up. I lived in Rome for 10 years and preferred living there to the UK. While the $1 homes have appeal I think the OP might want to rent somewhere in Italy for a year or so and see if the lifestyle would suit them. Moving to a country with little support network (friends family) could be challenging especially if you don't speak Italian. |
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Jackie Chiles1003.50 |
03-16-2023, 06:33 AM | #8 |
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I use to live in Bari, nice place, weather etc..
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03-16-2023, 07:43 AM | #9 |
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My mama always said that if it sounds too good to be true……..
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03-16-2023, 08:04 AM | #10 |
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I think the motivation behind the incentive is pretty clear.
If you live in a rural part of Italy its a quiet life....the consequence is that young people tend to move to the cities for a faster pace of life. Eventually villages and small towns start to empty of people. Offering "free" properties is a tool to try to entice people back...older folk in particular. I think there has been offers of low/no tax as well in some towns. Its a similar problem in France...there has even been whole villages up for sale as a job lot in rural France. |
03-16-2023, 09:53 AM | #11 |
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I did some reading on the topic. For me, the $100k budget seems more than reasonable based on my research. Can probably spend quite a bit less without skimping.
The roadblocks for me are time commitments and the language. It appears you are going to have to be willing to live there more than just a few months in the summer. Definitely going to have to get fluent enough in Italian in order to pass a residency test, which is required if you want to own a car there. Most Italians speak some English in the larger cities, but when you get in to the country and rural areas, not so much. My Italian is limited in that I can ask for a restroom, order food, get a taxi, check in to a hotel and bargain for things at a market. After that I fall on my face. And, with those awesome Italian roads I would have to have a car there. So, not a good fit at this point in my life. |
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03-16-2023, 11:16 AM | #12 | |
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I still enjoy holidays there and being to speak Italian fairly fluently during my stay. If you decide at some time to give it a go, it would be worth while to spend some time learning the language before hand. |
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03-16-2023, 12:52 PM | #13 | ||
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03-16-2023, 01:21 PM | #14 | |
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03-16-2023, 01:47 PM | #15 |
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I want to live on the side of a hill outside Florence with a few goats, piggies, a small vineyard. Ill take my dog on a Vespa into town and get my goods from the market everyday. My wife can make fresh pasta and olive oil while frolicking around nekkid in the yard
Thats more like the Powerball $1 and a dream I guess |
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03-16-2023, 05:23 PM | #16 |
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I feel like living in the countryside in Italy is just so peaceful and relaxing. It might get boring fast though. Getting around and speaking English isn’t a major deal in cities. It’s the countryside and smaller towns that might be an issue. I just don’t know how much work and commitment is involved.
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03-16-2023, 08:32 PM | #17 |
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Flew into Bari when we went to Matera. Didn't spend any time there, but still have little doubt that I could be happy living in the area.
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03-17-2023, 12:28 AM | #18 | |
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My wife and I plan to split our retirement between here and there, and where looking at places. One such place was about 3hrs south of Venice, on the top of a hill, 3 hectares, had an active vineyard that was managed and run by a company in the local village a couple KM down the road, and provided you wine. I am not sure on what the money contract was, because it would be your vineyard. It was around 15km from the water, and views of valley and hills to the north, west,and south. Views of the water to the east. Around 2100 sqft main house with 400 sqft barn converted to artist studio. Right around 780k Canadian…..like 100 US at todays rates.
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03-17-2023, 02:59 AM | #19 |
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Remodel a home in Sicily.
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03-17-2023, 01:06 PM | #20 | |
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03-20-2023, 10:07 PM | #21 |
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03-21-2023, 03:33 AM | #22 |
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Sure you can "get by" with speaking English pretty much everywhere in Europe. But I would suggest getting by is not enough when you live in a country full time. And Italian is such a lovely language to learn and speak.
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