I bought THREE of Italy’s €1 houses for me and my daughter so I can retire here but it’ll REALLY cost me €60,000
A WOMAN who bought THREE of Italy’s €1 houses has warned of the real price of renovating the bargain-priced properties.
Solar consultant and business owner, Rubia Daniels, took up the fantastic offer in Mussomeli, Sicily – but quickly realised that it would total a MASSIVE €60,000.
The enthusiastic new home owner, who speaks Italian, first became aware of the €1 homes after reading an article about the small Sicilian town online.
She planned to retire in the country for many years and, upon discovering the deal, bought up a property in the spring of 2019.
When she arrived she fell in love with the town that “sits above the clouds” and ended up buying three homes instead - including one for each of her sons, Yuri, 24, Ygor, 22, and her daughter Selena, 24.
She said: “They were all very excited and have different dreams and aspirations for the houses in the future.
“My youngest is planning to open a Brazilian Coffee Shop!”
While she hadn't intended to buy so many homes, she added: "It's how the people make you feel that makes you say, ok, I'll buy three."
Several towns in Italy have made headlines in recent years for offering up the practically free houses to buyers.
The Sun previously reported that there are around 25 regions who have taken part in the scheme, each with a number of properties.
Many of the areas have a dwindling or aging population and hope to build the community again.
However, as Mrs Dias found out, the properties which range from small houses to larger villas are all in a very rundown condition.
"People need to have a level of reality," Dias said. "If you sell me a house for €1, I know I'm going to have to fix it.
"They're revitalizing the town and that's why the house is coming to you for €1. Then, you have to do the work."
As a result, she has warned that potential buyers should go into any purchase with their eyes wide open.
This is because anyone who buys a house in Mussomeli has to renovate it within three years, or they face losing their deposit, which is reportedly €5,000 ($6,032).
Mrs Dias herself has already spent $12,000 on labour and materials for the first house, and expects that it'll cost her about $20,000, which is average in the area.
Overall, the charges could total a massive €60,000, according to her calculations.
Luckily, Dias claims that she ultimately "loves the architecture of the house and the history" of the old building, despite the pricey cost of the renovation.
She said: 'There are plenty of construction companies there that make things very easy, and the person who works in the city department is helpful.
"If you bring plans, he'll give you the best guidance."
Although the pandemic has impacted her planning a bit, she now hopes that the town will extend the deadline for renovations.
As long as travel restrictions loosen, she also plans to take another group to buy houses this June.
For now, the adventurous home owner has plenty of key advice for those looking to purchase their own €1 in Italy.
Firstly, she says to read up on the place you're hoping to buy, as they all have different structures for payment and rules governing when renovations must be done and by whom.
Secondly, she also advises buyers to give themselves at least a week to house-hunt and to be prepared that other people may want the house that you have your eye on. She said: "If you find the location you want, let them know you want to sign up for the house.
"There are lots of people searching for these homes, and you need to be ready," adding: "Make sure you have options."
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