Would you buy a house for 1 Euro?

This empty town in Italy plans to sell homes for €1.

@Andrew0409 , any insight?

Wouldn’t you pay so much in taxes, upkeep, restoration, etc. that it would end up being a money pit?

I think that in current year that town only has two possible outcomes:

a) They keep pushing the 1euro meme, it starts to attract people with enough money to restore it and eventually it gets run by the mafia

b) It attracts a few people but not enough to bring it back to a functional place, and they eventually start dumping “”“refugees”"" there

I didn’t read this story, but European cities (or villages, usually) have done similar things before, in Spain, Italy, and Greece (and maybe elsewhere, too).

Usually these contracts stipulate that the house must be brought up to local building codes and inhabited by the buyer or his agents within a certain amount of time, usually 2-5 years, or the deed is forfeited. Sometimes the contracts also stipulate the finished product must fit in with its surrounding in various ways, or specific contractors must be used in the remodel, or contractors from a specific locale.

When I see this kind of thing I always feel real leary because as an outside you are at a real disadvantage with respect to knowledge, knowledge of exactly how things work there.

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Like others said, you need to fix it up to building regulations. You can’t do it by yourself as you need permits that only certain people can get to work on these old houses. You usually need to hire locals to do it.

That being said, some people with a good eye on these things and able to work with locals on rebuilding. And they have been able to make money on the making them Airbnb and such.

It’s a video with subtitles. You can do it if you try. :whistle:

I’d rather buy the whole town for 1,000E and put up a fence. Be like living in Escape from NY or something. Make it into a paintball park. So many options.

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