Like many, we were captivated by the idea of Italy’s 1-euro home program. Imagine owning a house in Italy for just 1 Euro! My husband and I, both in our early 30s, dreamt of buying a home in Italy and this program seemed like an incredible opportunity. We were excited and a little nervous about these 1-euro houses and the Italian towns offering them. While we did end up buying a home in one of these charming towns, we are actually relieved that we didn’t go for a 1-euro property.
Last year, the concept of 1-euro houses in Italy truly intrigued us. We were planning to move to Italy for my husband’s job. Faced with the choice between renting an apartment for 500 euros a month or buying a house for just 1 euro, the latter sounded like an unbelievably smart financial move.
This 1-euro housing initiative has been running for several years now. Numerous Italian towns, facing population decline, offer homes for symbolic prices like 1 euro. The goal is to attract younger people, families, entrepreneurs, and international buyers to revitalize their communities and boost the local economy. Being in our early thirties, we seemed to be the perfect candidates for this program.
Ultimately, we did purchase a home in a town participating in the 1-euro house scheme. However, we consciously decided against buying a 1-euro home itself, and here’s why.
The 1 Euro Home Catch: Why It’s Not Always a Bargain
Our farmhouse purchase in Italy was significantly more than 1 euro, but offered much more immediate value.
We started doing our homework. We explored forums like Quora and Reddit, and connected with individuals who had experience buying affordable homes in Italy to understand the realities. We also watched news reports from outlets like BBC and Business Insider detailing other people’s 1-euro home purchases. After this initial research, participating in the 1-euro program began to feel too risky for us.
We were concerned about stories of people buying 1-euro homes sight unseen, only to discover severe structural issues, or tales of couples spending upwards of 300,000 euros on renovations. The potential for hidden problems and extensive repair costs became a major deterrent.
Furthermore, our research revealed that each town had its own unique set of rules and obligations attached to the 1-euro home program. These stipulations could include requirements to start a local business, complete renovations within a strict two to six-year timeframe, or reside in the property for a minimum of six months each year.
These legal requirements added layers of complexity to the buying process. Crucially, these stipulations were often only available in Italian, a language we didn’t speak. Navigating these legal hurdles without language proficiency seemed daunting.
Finding Our Ideal Italian Home (Without the 1 Euro Price Tag)
Our farmhouse in Italy offered the benefit of being practically move-in ready, allowing us to settle in quickly.
While the 1-euro houses themselves might be problematic, the general housing market in these Italian towns is incredibly affordable. These towns sometimes suffer from a reputation of being depopulated and lacking in vibrancy. However, we discovered this wasn’t the case for the town we chose.
We ended up purchasing a 3,121-square-foot farmhouse with an acre of land for 29,000 euros – around $30,400. This was obviously much more than 1 euro, but still incredibly affordable. The farmhouse was also largely move-in ready, which was a huge advantage.
Our home is located in Sant’Elia a Pianisi, a charming mountain town in Southern Italy nestled between Naples and Rome, with a small population of just 1,000 residents.
Despite its size, Sant’Elia is a lively town. It has a strong sense of community, hosting frequent festivals and events. We found young families, local restaurants, shops, schools, and a library – everything we need for a comfortable life. During August, the town bursts with even more life as the population triples with returning locals and their families for month-long summer celebrations.
Our neighbors have been incredibly welcoming, showering us with gifts of homemade cheeses, homegrown pomegranates, squashes, and plums. Choosing a house that didn’t require complete gutting gave us the flexibility to renovate at our own pace and budget. We felt we were already ahead compared to starting with a derelict 1-euro property.
Consider a Property Lawyer for Italian Home Purchases
I believe the 1-euro housing program can work for some, particularly those fully aware of the potential strings attached. However, for us, bypassing the 1-euro program was the right choice.
Our strongest recommendation for anyone buying property in Italy, 1-euro or otherwise, is to hire a property lawyer experienced in international real estate transactions.
We hired a lawyer for 6,500 euros (approximately $6,800). This was a significant expense compared to the cost of our house, but it was invaluable. Our lawyer assisted with document translations, navigated the legal complexities, and guided us through each step of the Italian home buying process. This support significantly reduced the risks of buying property in a country where we didn’t speak the language.
We are incredibly happy with our decision to find our own path to homeownership in Italy. We found a vibrant community and a home that suits our needs, without the potential pitfalls of a 1-euro house. Interestingly, Sant’Elia currently still has 1-euro houses for sale, suggesting that while tempting, they might not be for everyone.
