Investing energy and $1 in an Italian home

€1 Homes in Italy

Two months ago, I started looking into this money-saving/making scheme.

My husband was so inspired by a neighbor who is really doing well for himself, I decided to take the idea seriously.  There are various reasons why we won't actually up and move to Italy, but I did read up on the so-called "€1-home" phenomenon, and as such I'd hate to see the information I stumbled upon go to waste.

Question 1: Did I hear correctly? Can I buy an Italian villa for €1?

Yes, in some instances this is true. But in other instances, there is an auction for the highest bidder. Lastly, there is a town where people can actually get their rent off free if they'd just come and make their home, renovate and reside there permanently.

Let me see if I can make it simpler:
*Chart to follow

Cost of Living Italy
Expense U.S. $ in Rand 
Rent (two bedroom apartment) $650,00 R4 584,00
Utilities $220,00 R3 361,60
Gasoline, insurance and maintenance for one car $300,00 R4 584,00
Property Taxes $30,00 R458,40
Shopping $150,00 R2 292,00
Dining/Entertainment $150,00 R2 292,00
Healthcare $40,00 R611,20
Groceries $250,00 R3 820,00
Transportation $39,00 R595,92
Total $1 829,00 R27 947,12
 
ESL Salary $1 800,00 R27 504,00
$29,00 R443,12
Min Startup Investment
teaching cert 0
tesol 800
fluent italian 500
-R1 300,00
Now, my husband is in the renovation business, and we just recently refurbed a small flat into a more modern version of itself. We used the price lists of two local insurers to work out the cost of labour for the venture. I think I can work out what extra investment a typical Italian Villa will take.. if there is such a thing as a typical thing as a 'typical' run-down villa.

So, I e-mailed Info@lacole.it and they gave me their catalogue link, but these don't have prices...https://www.lacolecasaitaliana.it/en/... since they are all "individually priced".+

I contacted an Italian dealer who sells antique basins, cast-iron gates etc. For a price list. None available, but they have loads of materials that fit in a villa. Especially for refurbishment. The only factor would be the distance from the prospective property.  

With fuel in Italy at...a high price...
https://qz.com/588785/italians-pay-for-80-years-of-war-and-disaster-every-time-they-fill-their-tanks/

https://autotraveler.ru/en/spravka/fuel-price-in-europe.html#.YCJDSEjRa9c

And a small truck rental starting at $588ish...
https://www.europcar.com/en/van-rental/locations/italy

"If you need a 26-foot truck (which fits 5–7 rooms), your cost goes up to $47 per day plus $0.77 per mile."18 Jun 2019 according to 'How Much Does It Cost to Rent a Moving Truck? | Reviews.org'

The price will be quite high. But if you are good at balancing budgets, study foreign languages like a pro, and would love to permanently LIVE the rustic life in Italy...

This would be a dream come true!

Opmerkings

  1. Mary_Bloomington07 Oktober 2021 om 12:51

    Since the publishing of this post, we have gotten a job to go and inspect, and quote for a renovation job of a local old farmhouse. I am going to write another post showing how we went about it, and which problems we have to fix. See more on Goldfarbinnovations.wordpress.com

    AntwoordVee uit

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