For many years, people around the world have been drawn to Sicilian towns selling abandoned homes for prices starting at one euro, or approximately $1.08.
Several hundred homes have been sold to curious and ambitious restorers, including Meredith Tabone, 44, of Chicago. In 2019, I learned that a town called Sambuca di Sicilia was auctioning off homes starting with bids of one euro.
“A lot of people have warned me that it could be a scam (and that) I could end up losing a lot of money,” she told CNBC Make It.
However, she embraced the idea when she realized that her great-grandfather was actually from Sambuca. She bid on the house for €5,555 sight unseen and won, thus beginning a four-year renovation journey.
Meredith Tabone says she's never done a renovation project like this before, but was inspired by the work of her father, who was an architect.
Mickey Todiwala | CNBC Make it
“From the moment I sent in the offer and checked my email every day and found out I won, throughout this process, there were 4 million moments of frustration, exhaustion, and wondering how to move forward.” He says.
Tabbone and other €1 homebuyers share their biggest tips with other aspiring renovators around the world.
Prepare for additional costs
Houses in Sicily may start at €1, but the cost is largely nominal and is just the beginning of more expenses to come.
In Mussomeli, one of the most popular one-euro towns, buyers must also pay an estate agents' fee of €500 and pay for the title deed, which costs €2,800. This comes to a total of 3,301 euros, or approximately $3,600.
Rubia Daniels is from Berkeley, California, and bought several homes for one euro in Mussomeli, Sicily.
Mickey Todiwala | CNBC Make it
Rubia Daniels, 50, from Berkeley, California, bought three €1 homes in Mussomeli in 2019. So far, she has focused her efforts on renovating her main vacation home. She initially thought it would cost $20,000, but she has already spent $35,000 on materials, labor and furniture. She hopes to stay under $40,000.
Tabon paid 5,555 euros for her home, plus some taxes and fees, bringing the selling price of the house to 5,900 euros, or approximately $6,400. She then bought the building next door through a private sale with the landlord for 22,000 euros, or roughly $24,000.
Over the next four years, Taboni spent about 425,000 euros on renovations, or roughly $463,000. In total, that comes to €430,900, or $469,500, for her dream home in Sicily.
Be prepared for renewals
When talking about renovations, although connecting with local builders can get the plans started, buyers say it's essential to be on the ground while the work is being done.
Danny McCubbin, an Australian citizen who bought a €1 house in Mussomeli, says he has seen “a fair number” of foreigners trying to run their business from their home country.
McCubbin bought his cheap house in Sicily in 2019 with the hope of turning it into a food rescue charity. He ended up selling his house back to the real estate agency after it suffered extensive and expensive water damage. But he was able to open his charity The Good Kitchen elsewhere in the city.
“It's better to be here with the builder, choosing the tiles, choosing everything you need,” he says. For times when you can't be there in person, he also recommends finding a local project manager who can speak English and Italian to communicate plans with the local crew.
Be patient
Daniels works in construction and quickly learned that things take much longer in Sicily than they do in the United States
“Working with contractors in Sicily, I had to learn how to set my own expectations, not my American expectations,” she says.
“Have the patience to understand the culture and how things get done so you don’t get frustrated,” she adds. She has been renovating her main home in Mussomeli on and off since 2020 and is still several months away from completion.
“In general, there are a lot of people who can do this work, but the work here flows in a different way,” Daniels says. “You have to remember that this is an island and they're in island time. So (things) just move a little slower than you expect.”
Visit in winter
If you are planning to buy a property in another country, it is best to spend a significant amount of time there. And don't just go when it's peak travel season.
“I always say come in for longer than a week or two,” McCubbin says. “And most importantly, you come in the winter. In the summer it's beautiful. It's sunny, and the houses don't have mold. You find out in the winter that a lot of these houses have mold. They have humidity, and it's a completely different feeling here than in the summer “
Danny McCubbin had to return his €1 house after it suffered extensive damage, but he has found a way to launch his charity, The Good Kitchen, in Mussomeli Town Square.
Mickey Todiwala | CNBC Make it
Language learning
Taboni, Daniels, and McCubbin agree that it's important to learn Italian in order to get around Sicily, especially if you plan to spend part of the year there.
Language learning apps and courses are a good place to start, but immersing yourself among the locals is another great way to practice.
Tabone says she enjoys spending time with Sicilians when she visits. Among Sambuca's first friends were members of the construction crew on her project, who then introduced her to their friends and family members. She also has a close relationship with the mayor – she practices Italian with him and he practices English with her.
“I think I would be pretty fluent in Italian if Google Translate didn't exist, but I'm very good at Google Translate,” she joked.
Don't just be attracted to cheap homes
Newcomers to Sicily may be attracted by cheap homes, but many say the biggest reason they stay is the people they meet along the way.
“I always say, don't be tempted by the fact that houses are cheap,” McCubbin says. “Think about where you want to be and where you want to spend your time. However, the people here are good. The people here are very friendly. It's a great place to live.” McCubbin now lives in Mussomeli full time and owns another home there.
Taboni says one of her favorite things about Sambuca is how she connects with fellow foreigners as well as long-time residents.
“One of the things I love most about Sambuca is that the community isn't just about expats moving here. It's really well intertwined with the locals and the community. Any dinner party you go to, even if you just go to a café down the street, you'll always see a very nice mix.” “Expats and locals, I love it.”
Conversions from EUR to USD were made using the OANDA conversion rate of EUR 1 to USD 1.08 on 22 March 2024. All amounts are rounded to the nearest dollar.
Do you want to get your dream job in 2024? Take CNBC's new online course on How to Succeed in Your Job Interview to learn what hiring managers are really looking for, body language techniques, what to say and what not to say, and the best way to talk about pay.
