The cheap house phenomenon in Italy continues to attract buyers from all over the world, but not all stories have a happy ending. A British couple who bought a house in Sicily for around €40,000 say they quickly discovered the true cost of such an investment.
Alex and Emma, two Brits known for YouTube channel Travel Beans, bought a six-bedroom house on the sunny island of Sicily two years ago, paying just £35,000, the equivalent of around €40,000. At that time, the two estimated that they would invest another 52,000 euros in renovations and hoped to turn the home into a family vacation home.
Meanwhile, however, plans were put on hold and estimated costs began to rise. After several discussions with friends who are in the process of renovating a property in Italy, the couple fears that the total investment could exceed 115,000 euros. This amount also includes the purchase price of the home.
Alex admits that the Italian project is beginning to conflict with the family’s plans, according to express.
The renovation could turn out to be much more expensive than they thought
The two set out to completely transform the property. Among the planned works are the renovation of the roof terrace, which offers a spectacular view of the Mediterranean Sea, and the modernization of the entire house.
Initially, Alex and Emma estimated that they would spend around €52,560 for all the work. But after talking to their friends, who are also renovating a house in Italy, optimism turned to concern. “The worst thing that could happen to us was for people who know more than us to crush our dreams.” Alex said.
Emma says she’s starting to question whether the investment still makes sense.
“Is this house becoming a black hole for money? Wouldn’t that money be better invested elsewhere? Sara and Luca told us that the estimated amount for the renovation could even double. They have much more experience than us and it would be absurd to ignore their warning.” she explained.
Why did they choose Sicily?
The couple says the choice of Sicily was no accident. Alex and Emma have adopted a nomadic lifestyle for many years and claim that they have always looked for alternatives to the classic model of life.
“Sicily was not a random choice for us. This is how we have lived our entire adult lives: seeking unconventional ways of living, putting freedom first and proving that you don’t need a lot of money to do it. We love Sicily. It gives us a quieter pace of life and allows us to create family memories while our children are still young.” Emma said.
Alex believes that the property could become, in the future, the home where the two will retire after retirement.
“It could become our retirement home. For us it represents the freedom to live differently than conventionally,” he said.
In recent years, many towns in Sicily, Sardinia and Tuscany have attracted buyers from all over the world through programs where they sell abandoned homes for symbolic prices, sometimes as little as one euro. The authorities thus try to revitalize the communities affected by depopulation and save the buildings left in disrepair.
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