€1 Homes

1€ homes are still heavily promoted abroad and I see three are still a lot of people interested in the scheme.
It’s certainly very attractive to buy a home in the Bel Paese for just 1€, however I’d advice whomever is interested in the scheme to carefully read all T&Cs of the different schemes implemented by the comunes and to have a professional by your side, if at all possible, to explain all the rules of the scheme (we offer assistance in that, too, if you need, just email contact@bdbrelocationandlegal.com).

Generally speaking, the main condition to buy a 1€ home is that you commit to start and finish the renovation works within a specific timeframe (the penalty to miss the deadline is that you lose the deposit paid (something around €5.000).
Bear in mind that sometimes properties are in very bad state, and need heavy renovation works (some need to be rebuilt almost from scratch).

1€ homes are often in very remote and depopulated villages, but sometimes they are in very popular and attractive locations (Taranto in Puglia, Caltagirone in Sicily, for example).

Lastly, bear in mind that with the same amount of money you’d need to renovate a 1€ home, you may buy a perfectly renovated property in move-in conditions, but, on the other hand, the property wouldn’t have your own imprinting and you might not feel “at home”.

This article is not exhaustive and is a guidance only.

If you need assistance, please contact us.

 

Barbara De Benedittis Relocation and Legal in Italy