Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

We have repeatedly written about the attractive offers of the authorities of small Italian towns for the sale of old houses for just 1 euro (about 90 rubles). Headlines about such an attraction of unprecedented generosity spread across the Web, attracting hundreds of potential buyers from around the world. Among them was Rubia Dias, who bought three old buildings in Sicily at once. As a result, a profitable, at first glance, deal flew her into a round sum – 60,000 euros (about 5.4 million rubles). Find out what the woman gave such money for, from our material.

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

A woman who bought three houses in Italy for 1 euro (about 90 rubles) warns about the real cost of repairing cheap real estate. Rubia Diaz took advantage of an attractive offer and bought a cheap apartment in the town of Mussomeli in Sicily. But in fact, these old buildings cost her 60,000 euros (about 5.4 million rubles).

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

Rubya learned from an article on the Internet about an action that the local authorities started to attract people to the region. The woman knows Italian well and has long planned to move to a sunny country, so in the spring of 2019, she caught fire with the idea of buying a house in Sicily. 

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

Arriving in a cozy town, she immediately fell in love with him. The foreigner bought three buildings at once – one for each of her children. Sons Yuri, Igor and daughter Selena also supported their mother and began to plan for the future in Italy.

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

About 25 regions across Italy took part in the campaign for the sale of cheap old real estate. The main goal of the local authorities was to attract the young population to the region and develop business in their cities.

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

When she arrived in Italy, Rubia saw that the houses were in a very neglected state. The new owner had to make major repairs in them. As a result, buying cheap real estate was not so profitable. According to the contract, the buyer of the building in Mussomeli must restore it within three years, or he will lose a deposit of 5,000 euros (about 450,000 rubles).

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

The woman has already spent $ 12,000 (about 900,000 rubles) on building materials and workers ' wages just for the repair of the first house. According to her calculations, the cost of restoration of all three buildings will cost at least 60,000 euros (about 5.4 million rubles).

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

However, Rubia says that she likes the history and architecture of the old houses, so she is ready to pay a round sum for their restoration. Moreover, it plans to buy a couple of similar buildings in other regions of Italy.

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

The owner of the share housing advises those who are going to buy houses for 1 euro, it is good to find out about the area where they are located, and about the terms of their purchase, because in each region the contract clauses are different. Local authorities offer different payment options and deadlines for repairs. 

Not cheap at all: why houses for 1 euro in Italy cost the buyer 60,000 euros

In addition, you need to be prepared for the fact that someone else can put an eye on the housing you like. It is better to reserve a future purchase in advance, because despite all the pitfalls, the demand for cheap buildings is growing.

Not only the buildings in the emptying Italian towns are in a deplorable state. The once-luxurious homes of the stars also sometimes turn into abandoned ruins.

Keywords: Italy | Europe | Travel | Real estate | Restoration | Promotion | Money | Houses | Design and architecture | Conditions | Repair | Sale | Expenses | Reality | Buyers | Offer | Council | Abandoned buildings | Contract | Buildings | Hostess | Purchase

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