Why I didn't buy a 1 euro home in Italy
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- Опубліковано 20 лип 2024
- Here are my reasons for NOT buying a 1 Euro house in Italy. Watch this video before doing your own research into one euro homes. It will save you some time AND point you in the right direction.
The 1 Euro home incentive is a great opportunity to buy a cheap house in Italy and turn it into a home but there are some things to consider before diving into it.
I cover these in this video and also share some valuable links. (see below).
IMPORTANT LINKS FOR YOU:
Expert in 1 Euro Home Purchasing - Dauvo - Subscribe to his channel for 1 Euro house walk throughs and cheap houses in Italy: / dauvo
Expert in buying houses in Calabria region of Italy - Christine from Super Savvy Travellers. Subscribe to her channel here: / supersavvytravelersllc
Don't forget to SUBSCRIBE to my channel if you haven't already.
Visit my website: www.teganmarshall.com/
Join the Wealthy Wanderers FB Group: / wealthywanderers
ONE EURO HOME WEBSITES:
Dauvo - www.thedauvo.com/1-euro/
1 euro houses for sale - 1eurohouses.com/
1 euro homes for sale - www.idealista.it/en/news/tags...
Property in Italy for 1 euro - www.property-in-sicily.estate...
Case 1 euro homes in Italy - www.case1euro.it/
Thanks for the info, really interesting. I am very handy, ive been in the renovation bussines for almost 20 years. Might be time to book a flight to Italy. If I can do most of the work myself it might be really worth while
You're so lucky to have such valuable skills and experience in renovation. If you can do most of it yourself it would make it even more worthwhile (and so much cheaper too). Thanks for your comment. I'll have a new video out soon.
My interest was peaked by the idea of a one euro home but those I looked at online didn't meet my needs. I expect to use the property about four months out of the year and I do not want to maintain cars in two countries. The one euro villages I looked at didn't have good bus service one needs to do their shopping if there aren't enough stores in the village to meet one's daily needs.
That, however, got me looking at properties selling for a bit more but with better infrastructure. I ended up buying a reasonably large apartment in a historical village that has several grocery stores, butchers, fish stores, etc. And once I'm done with renovations I think I'll have a very nice place for about 50k euros.
Where I think the one euro homes might really work would be for someone who has the ability to work remotely and would like to spend part of their time making money and part of their time creating a home for themselves.
Thank you for sharing your valuable input. And congratulations on your Italian house purchase. I believe it's also difficult to purchase a car in Italy (I'm yet to learn more on that) and so it is important to me also to choose somewhere with that infrastructure of stores is within easy walking distance and it's on a train line so it's easy to get to each time. These are all important things to consider. Thanks again for mentioning this.
@@BuyingahouseinItaly
I think it's less difficult to purchase a car in Italy than to get an Italian driver's license The license is given only in Italian and one needs some fluency to pass.
Here's what I'm hoping to find, someone who wants to rent me a car once or twice a month so I can take a drive in the mountains. To someplace the buses don't go. I don't know about the legalities of that but I'm hoping.
I can take the bus to a car rental agency about an hour away but I'd love to find something within walking distance.
Maybe I'll find a compatible person or two who would like to have a 'go out for a drive and lunch' event from time to time. (I actually sort of have. They drive their car and I buy lunch. It's cheaper for me than renting,)
The bus system where I am is very good. I can get to the train station in less than an hour and to a Flix stop as fast. I'm very satisfied with Flix for traveling to and from Rome. Straight from where my local bus stops to Rome or FCO.
Between having a decent number of stores, in a fairly small village, and Amazon/Ikea I've not found a lot of need to go shopping in 'the city'. I will later once the renovations are finished on my apartment because I'll want to find some tableware and other things that I really like and are most likely to be found in Milan or another major city. But that's more of a one time need.
As I travel through Rome in a couple of weeks I'll visit the Leroy Merlin and Iperceramica showrooms and pick tile and bathroom fixtures for my renovation. I can order online when I'm ready and they will be delivered.
Here is something I highly, highly recommend. If you aren't fluent in Italian find yourself a local who speaks your native/most comfortable language. A good helper will make getting the utilities turned on and dealing with renovations incredibly easier.
I've got someone who has grown up in the area and knows lots of people. Between her parents and her in laws there's a vast amount of local knowledge on how to get things done. It's making my processes incredibly easier than if I were trying to do things on my own.
@@bobwallace9753 this is such valuable information for both myself and the viewers. Thank you 🙏 Best of luck with your trip to Milan and finding a car solution. I'll be interested to know what you find out about the legalities of 'borrowing/hiring' a friends car. I'm still not sure I want to be driving in Italy yet. Will start off with electric bikes first and see how far we can explore with these. 🚲🚲🛴🛴
If they have been abandoned there is a reason...
@@duskmemories1191
Correct. But the reason is not what you think, I suspect.
I wouldn't want to renovate one of the $1 house by remote either. Living there during renovation would be fun for me, but also expensive.
Thanks for your comment. I've seen some people do it successfully. It all comes down to having the right team behind you. But, like you, I prefer to be there at least for some of it.
Thanks for this video. It is good to have this perspective.
Thank you for watching. I'm grateful you got something out of it.
Thank you for this helpful video. 🙏🏼🥰🌸
You mentioned a town that you felt had high tourist potential. Which town were you referring to? 🙏🏼☀️
I've actually ended up choosing Galatina in the heart of Salento as it has a higher tourist potential rather than Corigliano d'Otranto which was one of the others being considered. It's really a matter of finding the right place that makes sense to you though.
Italian Food is World Famous !
Sounds so very interesting
I'm glad you found it interesting. Thanks so much for watching x
I remember something similar being offered in some outback Australian towns quite a few years ago. I suppose that exodus of young people from small towns into the city to chase better opportunities is universal. But hopefully technology will help to reverse that trend. Txx
Yes, you are right. I remember it too. Some small outback towns offered up houses to bring new life into their dwindling population. I too am hoping that technology and the recent changes due to the pandemic bring more people into those towns. They offer so much more space and a closer community at the same time. Thanks for your comment xo
Which Town - Down Under ? Did actually anybody move there ? Did IT help - to get new residents ?
Where could we read about it?
@@tabiripetrovich517 I Have Been waiting - for a month ! NEWS travel slow - from Down Under ?
What happened - after They came Out with The IDEA at Australia ? Was IT a marketing STUNT - or IS there any meat on The Bone ? Which City - East of West - Australia ?
no shops,no pharmacy, no public transport no thanks!!!!!!
👌👌👌👌👌👌
They need - New People - to Start everything on Internet ! POST OFFICE - The Main business - to Get everything going !
Those are definitely points to consider. Some people like the quaint little towns and less people. Mussomeli in Sicily is a popular 1 euro home town and it is surrounded by beautiful countryside and over 10k population. Everyone is different and each to their own I say.
Very wise it's even the slow progress it is possible that people don't even come there and there will be no progress at all, so many country are paying people to live there, so many attractive offers.
Some on bought $5000 home and renovated with over $30,000..... Mmm
Thank you Dodah Don for watching my channel. Yes there are lots of options when it comes to buying a house in Italy ranging from one euro (needing a LOT of renovation) all the way through to fully renovated and ready to move in. It's important to do your due diligence before making any decision on property to ensure you make the right one for you.
One man's ghost town is another man's peace town. 🙃
So very true DG and thanks for watching my channel and commenting.
the 1 euro homes are always in some remote locations
That's true and one of the reasons that option didn't work for us. But still, if you aren't wanting to rent it out, or re-sell it in the near future then you could find the small town 1 euro option charming as you would become a part of a small Italian community.
Have You heard of internet ?
What Do You want from Life ? There are somany remote places on this Globe ! Have You heard of PITCAIRN Islands - where The Bounty went hiding ? If You know How to use The UA-cam - You never walk Alone !
So.. did you had or did not have experience with renovating??
Reason one and reason two for you not two buy seem in contradiction..
Thanks for watching Maria. I've had renovation experience but not to the extent that the one euro homes needed renovating. So one reason we didn't choose a one euro home was because they needed too much renovation for my level of experience and another reason was because I'd prefer to be involved in the renovations myself rather than doing it remotely. So I've chosen a property that needs a certain level of renovation I feel I would be capable of handling. Hope that makes sense. Thanks for asking.
Do you know any houses near the beach or ocean for 1 euro?
Hi Dash, I haven't seen any super close to the beach but there are some that are only short distances from beaches. Like 15-30 minutes away. Try looking in Sicily perhaps and thanks for watching my channel.
I dont get it. You want to buy something for investment, not actually go live in an old town and buy a place for E1 ?
Thanks Andy for your comment. I do want to be able to live in an old historic town for the 6 months a year I am currently allowed to and then have the property available to rent outside of that. Hence why I didn't choose a 1 euro home as there weren't any in the location I want to live in.
This IS an dream for BIG City People !
You really Dont Get IT ? Do You Have any idea - howmuch apartments & houses - Go for - in some bigger Cities ? At many Cafes - a cup of Coffee - IS More than One euro ! If You Have any savings - More than One Euro ? A DREAM HOUSE project !
It’s about time and money….
Totally agree with you Eduardo. Like most things LOL
How does a person *make an investment* without even seeing the place???? They are going to have to sink at least €60 000 into the house on renovations. How does anyone think they can do this sort of work without any experience as a proper builder. If you want to be part of the community, I would suggest to anyone that you learn Italian first.
Yes, why buy a 1euro home when you can actually buy a habitable home for less than 10K euros.
@@loriannrichardson7644 totally agree. There are some great homes in Italy for 10k euros. But I still love that the one euro homes create interest and conversation for the towns who have chosen that initiative.
You are absolutely right Tony! It's so important to do your due diligence and to hire professionals throughout the process i.e. a builder to do the work if you have no experience. Also important to learn Italian out of respect for the community you want to become part of. It's such a beautiful language, why wouldn't you want to learn it.
@@loriannrichardson7644
Some of the one euro homes have the potential of being a lot more interesting home once renovated than the inexpensive but livable places.
I have a terrible time learning languages. (I'm very smart in other ways. ;o)
I found an excellent translator who has turned into my very capable assistant.
I'll acquire enough Italian to carry on basic conversations over time but only if I'm learning in the 'real world'. If I waited to be fluent before starting the housing project I'd be living in rentals for a few years.
The disaster for these communes will be greedy investors wanting a ROI by renting out as many of these 1 euro homes as they can afford, which, incidentally, is absolutely against the original concept of attracting young families to breathe life back into these ghost towns by becoming permanent residents!
These Towns need All The help - They can get ! Computers People and marketing staff - for just ONE EURO !
It's true. I know of people online who have bought the one euro homes as an investment with the intention to rent them out. But then doesn't that bring tourists to the little towns which then potentially creates business opportunities for the locals? I guess we will see over the next few years what happens.
@@BuyingahouseinItaly Not really as there is zero infrastructure there as no permanent residents and tax payers! It creates posh ghost towns! Many of these houses are not even on the grid, let alone have a proper road leading to their doors or to anywhere, in fact...I went to see!
And those are some of the big reasons why I didn't buy a one euro home. Well done in going to see them! That must have been quite an experience. Hopefully it didn't put you off buying a house in Italy and you got to see some amazing sites and had some great experiences anyway.
buying 1 e home why? to live in {ghost villages}or towns with only 10 people around?? to spend a lot of money for what? for recks? that's one truth....
That is one truth for sure. Although from what I've seen there are more than 10 people in the towns but I get your point. These towns aren't vibrant which is one of the reasons the one euro homes didn't suit us to do. But there are people who love that quieter lifestyle and they are quite beautiful with their historic architecture, and some have picturesque landscape surrounding the towns. I guess everyone is different and thank goodness they are really.
Isolated ghost towns, probably bad internet, nothing to do.
It's true, these towns with the 1 euro homes are small and may not have as much to do but there are still some people left in them, some are quite picturesque and this will attract people who don't mind the quiet life and being part of a small community. Perhaps those looking for a change of pace?
Sky high taxes because the country is bankrupt!
In some circumstances Italy has high personal tax rates ranging from 25%-45% however there are also some situations where your income is taxed at a 7% flat rate and in some situations there's no capital gains tax after owning a home in Italy for more than 5 years. So it really depends on your individual circumstances and it's always best to discuss with an international experienced taxation agent.