Heathrow: Chaos with travellers bags as BA cancels flights
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Several Italian towns began selling houses for one euro (84p) after losing residents to cities. For many British expats it seemed like a dream offer.
However, some Britons have been sharing the downsides of buying one of the bargain homes.
Many buyers were surprised to find how much more money they needed after their initial investment.
The majority of properties needed complete renovations and some were surprised by how much money it cost.
Danny McCubbin told MailOnline he bought a house on the Italian island of Sicily after reading about the offer.
The 58-year-old raised 25,000 euros (£20,000) to create a community food project in the village.
He told MailOnline: “I liked the fact that the whole process was very clear and transparent.”
However, the expat was quickly forced to sell the home after encountering various issues in his plans.
McCubbin said that he had to pay to register the house and faced spiralling legal fees which can reach thousands of pounds.
A shortage of builders during the pandemic also led to soaring costs for building and renovation work.
McCubbin said he eventually realised he did not have enough cash to fund the renovation and sold the house.
He sold it for one euro (84p) but lost out financially and the project ended up costing him 3,000 euros (£2,500).
Despite the issues, the expat said he had “no regrets” and has now found other properties in Italy.
Rubia Daniels, another Briton who bought and renovated three homes in Sicily, warned potential buyers about renovations.
She told The Sun: “People need to have a level of reality, if you sell me a house for one euro (84p) I know I’m going to have to fix it.
“They’re revitalising the town and that’s why the house is coming to you for one euro. Then, you have to do the work.”
Since the initial scheme, more Italian towns have decided to sell the cheap homes in the hopes of reviving their community.
Many of the attractive schemes come with caveats and expats must normally agree to renovate the property.
Other schemes are only open to families or people who want to work in a certain career path.
British expats are advised to check all the terms and conditions before signing up to a one euro home scheme.
Airbnb recently offered one lucky person the chance to live in Italy for a year in return for acting as a host for the platform.
Source: Read Full Article