Two Towns In Italy Are Selling $1 Houses And The Small Work It Takes To Be Approved Is Totally Worth It

$1 italy dream houses

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Italy is one of the most gorgeous countries in the world, filled with a perfect blend of countryside, city life and coastal cities that overlook bodies of water the help you sip wine and relax for as long as you want. While many of us only get to live that life for a few days or weeks to visit, it doesn’t have to be that way — because two small towns in Italy are giving away $1 houses to help revive their declining communities.

According to CNN, one of the towns, Zungoli, which is a tiny rural village in the Campania region near Naples and the Amalfi Coast, has launched a website that promises potential buyers a match with their dream property, pretty much stress-free. Basically, you go to the town’s website, see a photo of the house you like online, and then you can apply to own it without ever seeing it in person. It’s risky, but, hey, to buy a house in Italy for just $1 may very well be worth it.

Here’s what the mayor of Zungoli, Paolo Caruso, had to say about the almost too-good-to-be-true deal, per CNN:

“I’ve created a special task force of young volunteers who assist buyers, liaising with convenient construction firms for the restyle. Transparency is key but people must really come see for themselves the beauty of the place, taste the great food and breathe the fresh healthy air.”

“We want to make things easy for new buyers”, says Caruso. “My town has upgraded infrastructure, public LED lights and great Wi-Fi. Piazzas and pavements have just been revamped. Life quality is important.”

That all sounds pretty damn awesome to me, especially in a place like Zungoli, which was named one of Italy’s Most Beautiful Villages in 2015 in a national award. After all, I haven’t been to Italy since I was 15 years old, so having my own house over there for less than a price of coffee sounds intriguing. But before you jump at the opportunity, there are some stipulations to be aware of. Here’s a step-by-step breakdown of all it requires for approval to buy one of these $1 Italian dream homes.

  • Step 1: Go to Zungoli’s official website, www.comunezungoli.it, and click the “Case in vendita a €1” link.
  • Step 2: Search through dozens of small, 50-to-100-square-meter (about 525-to-1,000-square-feet) houses, all of which are in some serious need of renovation.
  • Step 3: Download the application for the property in Italy that you just can’t live without, committing to renovating it within three years, while explaining the type of project you want to build. This can be a private house, a B&B or a shop.
  • Step 4: Formally apply by attaching a copy of your ID and sending to the mayor’s office in Zungoli by email or mail.
  • Step 5: If approved, you’ll receive a contract to sign and, boom, you can fly over to Italy and start renovating your new digs.

All of that might sound pretty simple, but, as an extra little step, approved buyers also have to commit to the terms of the application by paying a $2,250 deposit, which also commits them to following through on the project within a few months. But, the deposit is returned once the renovation has been made and the purchase deed’s made. Plus, tax deductions for buying and renovating the $1 houses in Italy could be as high as 85 percent.

Rather than take a trip to Italy and come back with vacation fatigue, why not drop a buck and a little more to renovate your own home over there? Millennials might not be buying houses in America, but, dammit, we sure as hell should be buying them in other countries — especially ones that are on the coast of Italy.

You can read more about any further details on CNN.

(H/T CNN)