I won’t lie, about 5 years ago I was sent an article promoting a small village in Italy with homes for sale for just €1…. and I basically re-evaluated my whole life’s plan. Dreamy right? The notion of uprooting my life to start a new chapter in Italy was enthralling, and it still echoes in my mind to this day. Even today, I’ve spent many hours sifting through Italian realty websites!

If you’re like me and love toying around with the idea of buying one of these 1 Euro Italian villas for sale, you’re in luck! Today, I’m unpacking all the nitty gritty details and conditions that come along with moving on one of these deals! Let’s get into it…

An Introduction To These Deals

Why do these villages post such affordable homes? Certainly each town has its own motivates, but in general most of these small villages have citizens who are aging and the overall population has decreased. These homes encourage people to move to the area to build the community and businesses of the area.

The Terms & Conditions

Of course, like all deals that sound “too good to be true,” there is some fine print worth noting. As always, lots of these homes and villas’ conditions depend on the region. It’s important to understand that the majority of these homes require large renovation projects… all of which is part of the deal. These houses may be privately owned by people who want to want them off their tax expenditures or require too much work for their old age. Properties can range from small apartments to large scale villas, but you can bet most of them will be in a rundown state.

ARE THEY REALLY ONLY 1 EURO?

I mean, yes. Technically. However… sometimes these homes are auctioned off and can be bought for a larger price. Some definitely do sell for €1, but you can expect that homes can sell for more than this, depending on the state in which they’re in. You’ll need to look into the area’s website to see if this is the case!

Remember, that you are essentially guaranteeing that your purchase of this home will require renovations… which can be costly!

You can certainly add at least a few thousand dollars on to the total price, as well as the costs you’ll pay for traveling to oversee/take part in construction projects. (Remember, if your home is not livable when bought, you’ll end up paying for a hotel or some kind of lodging!)

HERE ARE SOME OTHER DETAILS OF THE FINE PRINT:

• You do not need to be Italian (but you must remember that non-EU citizens may only stay in Italy for 3 months at a time!)

• A short application is required - each varies on the region/area you are buying from.

• You will also need to declare that you have not committed mafia crimes.

• After your payment, you will have to pay legal document fees, including notary fees and required work permits to begin construction.

• Many villages require renovations to begin within two to three months of your purchase, and an agreement that these projects will be finished in three years from your buying date.

• You will need to purchase an insurance policy of some sort.

• Some towns require a 3 year buying policy of €5,000 (which is refunded later when it expires)

Every one of these deals varies, so always be sure to get the region/area’s website for details. You never know! Depending on the place you’re buying from the Italian government could offer restoration grants up to 110% of your costs or actually pay you as an incentive!

Other Considerations

As always, many of these home purchases will bring some individual challenges. Keep in mind that some of these homes are completely disconnected (which I’m sure many travelers might find appealing) and might require setting up electricity, water and plumbing!

Language is another consideration! If you aren’t fluent in Italian, learning the language is definitely something that will be worth your while. Communication and translation issues can arise and cause a headache! If you’re not keen on learning Italian, look into translator services.

DO I HAVE TO LIVE THERE?

Although many of us dream of a full relocation to Italy, not having an Italian citizenship could prove to bring some issues. Some towns sell these homes on the conditions that the purchaser will be moving there full time, or agree to start a business in the area.

However, others have no issue with the buyer using the property has a holiday home or bed and breakfast. It all changes region by region. Non-EU and non-Italian citizens might find this as an appealing solution to their limited time allowance in the country. Imagine using your home as your holiday home and put it up on AirBnb or hiring a property management company to earn some money while you’re not there!

MAKING MOVES

If you’re a bold soul who’s not overwhelmed by all the nitty gritty challenges and fine print, or if you’ve found that dream home you’re ready to make moves on… I applaud you! This article features the stories from those who also took the leap!

A new life and a new opportunity in beautiful Italy is not out of reach. It just requires the tenacity, the savvy and the motivation of those who are willing and able to do so!

Would you buy an Italian home for only 1 Euro?

I’d love to know your thoughts on these deals and or if you know anyone personally who’s taken the plunge!