Family Magazine

How to Buy a House in Italy for 1 Euro [step by Step Guide]

By Geoff Griffiths @mmatraining1980

Depopulation, has some potential benefits for property investors!

Buying a house in Italy for 1 euro is a great opportunity, promoted by several towns aiming to revive declining populations and renovate old properties.

Here’s a step-by-step guide tailored for a UK resident:

Step-by-Step Instructions:

Research and Choose a Town: Several Italian towns have offered homes for 1 euro. Each town has different terms and conditions. Here are some notable ones:

  • Sambuca di Sicilia
  • Ollolai, Sardinia
  • Mussomeli, Sicily
  • Bivona, Sicily
  • Laurenzana, Basilicata

    Visit the Official Websites: Each town usually has an official website or a dedicated page for the 1 euro house initiative. Here are some URLs:

      Understand the Conditions: Each town has specific conditions that buyers must meet, such as:

      • Committing to renovate the property within a specified timeframe (usually 3 years).
      • Paying a deposit (often around €5,000), which is refunded after renovations are completed.
      • Using local contractors for the renovation work.

        Contact the Municipality: Send an email or call the municipal office to express your interest and get detailed information.

          Plan a Visit: It’s highly recommended to visit the town and view the properties. Contact the municipality to arrange a visit.

            Prepare Your Documents:

            • Passport
            • Proof of income
            • Proof of funds for renovation

              Sign the Preliminary Agreement: During your visit, if you decide to proceed, you will sign a preliminary purchase agreement (compromesso).

                Open an Italian Bank Account: You will need an Italian bank account to handle transactions and utility payments. Many banks offer services in English.

                  Hire a Local Notary (Notaio): The notary will handle the legal aspects of the purchase, ensuring the property is free from debts and encumbrances.

                    Finalize the Purchase: After the preliminary agreement, you will sign the final deed (atto di vendita) before a notary. This completes the purchase.

                      Commence Renovation: Begin renovation work as per the conditions. Ensure you adhere to local building codes and regulations.

                        1. Enjoy Your New Home: Once renovations are complete, you can enjoy your new Italian home!

                        Useful Resources:

                        This is a general guide, so make sure to get detailed information from the specific municipality you’re interested in. Good luck with your house hunt in Italy!


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