Would IRL also help with purchasing properties on auction in case you are not willing to go the "1 Euro Home" route but you want a property on auction that is more likely ready to move into soon after purchase?
Interestingly the woman who bought the multiple properties featured on MSNBC wasn’t complaining about the cost, she went into additional projects with her eyes open & was paying as she built without loans- the finances didn’t stretch her. Her biggest complaint was how *long it took* for trades & how long it takes to get building projects done.
I think Sambuca di Sicilia now has over 200 foreign owners. Many of them bought low price houses rather than 1€ homes. Current estimates put the price of renovations in Italy as 1200€ / sq meter for a basic renovation. The cost of renovation going to $2000 / sq meter for a moderate renovation; and 3000€ / sq meter or more for a luxury renovation. I love the idea of doing a renovation but I’m not sure the numbers make sense. And thanks to both of you for visiting this topic.
Similar to the other commenter; the woman in the MSNBC report seemed quite content and happy with what she had created. And she truly did a great job in creating a very luxurious and liveable space.
Avoid €1 homes in the historic center since you won’t be allowed to renovate it to your likes since you must follow the original design. Some towns have a few plumbers, electricians, tilers and already have their hands full with ongoing work so you have 1-time mostly but the people you need to work for you is already busy and you need to consider to put yourself in a waiting list. Another thing is the renovation cost. If you are looking for jobs or opening a business there choose towns over 6000 inhabitants not less. If you don’t care at least try to buy cheap, prices in housing market in Italy are stagnant so you won’t get anything extra for all the job done, just the renovation cost back. Some regular homes are in sale for 20 years, ask yourself why? And use that in your favor to pay less. Some houses weren’t opened for up to 5 years. You can find a lot of crap inside and you can negotiate a rebate for the cost of dumping all that crap. Talk to neighbors asking if they remember when the house was in sale. You can buy houses with some work starting from 25k. Even less but in good condition not too many.
Would IRL also help with purchasing properties on auction in case you are not willing to go the "1 Euro Home" route but you want a property on auction that is more likely ready to move into soon after purchase?
Interestingly the woman who bought the multiple properties featured on MSNBC wasn’t complaining about the cost, she went into additional projects with her eyes open & was paying as she built without loans- the finances didn’t stretch her. Her biggest complaint was how *long it took* for trades & how long it takes to get building projects done.
Such sensible advice, thanks. They don't say "you get what you pay for" for nothing
I think Sambuca di Sicilia now has over 200 foreign owners. Many of them bought low price houses rather than 1€ homes. Current estimates put the price of renovations in Italy as 1200€ / sq meter for a basic renovation. The cost of renovation going to $2000 / sq meter for a moderate renovation; and 3000€ / sq meter or more for a luxury renovation. I love the idea of doing a renovation but I’m not sure the numbers make sense.
And thanks to both of you for visiting this topic.
Similar to the other commenter; the woman in the MSNBC report seemed quite content and happy with what she had created. And she truly did a great job in creating a very luxurious and liveable space.
Hello.. Question? How do you find out who the listing agent is on a home that’s for sale in Italy?
Avoid €1 homes in the historic center since you won’t be allowed to renovate it to your likes since you must follow the original design. Some towns have a few plumbers, electricians, tilers and already have their hands full with ongoing work so you have 1-time mostly but the people you need to work for you is already busy and you need to consider to put yourself in a waiting list. Another thing is the renovation cost. If you are looking for jobs or opening a business there choose towns over 6000 inhabitants not less. If you don’t care at least try to buy cheap, prices in housing market in Italy are stagnant so you won’t get anything extra for all the job done, just the renovation cost back. Some regular homes are in sale for 20 years, ask yourself why? And use that in your favor to pay less. Some houses weren’t opened for up to 5 years. You can find a lot of crap inside and you can negotiate a rebate for the cost of dumping all that crap. Talk to neighbors asking if they remember when the house was in sale. You can buy houses with some work starting from 25k. Even less but in good condition not too many.
Why?
Wouldn't somebody want to buy a one year old home when you have the descendants of roman gods to help you with the renovation