In the last few months, many people have contacted me about the 1 EURO HOMES FOR SALE IN ITALY. I did some research and got information regarding these places and the process of purchasing these homes.
Let me now say what I think about the situation. I really don’t see the bargain in buying these homes at 1 Euro. Yes, 1 euro is very little, but there are then many other things to consider.
The homes are in remote places (certainly, they are not places that you would visit if you are a tourist); and they are completely dilapidated. You have the obligation to restructure them within 12 months from the purchase. So, there isn’t the possibility of slowly having it done - you must get the experts and the contractors there somehow, and immediately. Who will oversee the massive work?
The question then is: what are you going to do with this house? Airbnb it in the time you are not there, when there is no market for Airbnb in that area? Re-sell it? Enjoy your beautiful holidays in an extremely remote area of Italy?
Italy is so beautiful, and even if the economy is not running very well, do you think that Italians are so ‘naive’ that they would sell a house for 1 Euro if there were a potential for it to have a much higher value?
The only people this seems appropriate for would be someone who wants to embark on an ambitious reconstruction project under somewhat challenging conditions, and who are able to then live full time in that house (able to get a long terms visa, or Italian citizenship, have substantial savings to live off of, etc.). They would also specifically want to live in a remote area, with limited services nearby.