my favorite thing i learned in this video was about The Good Kitchen, i think the work they're doing there is really cool, giving back to a community that they are stepping into

The guy who's feeding people is an instant asset to his new community. What a lovely person ❤️

The plumbers, carpenters, and contractors etc are probably real happy about this!

Wow Danny’s a gem. Moves to the town and helps the locals. That’s really fantastic.

A 4,000 Euro agents fee on a 8,000 Euro property? Absolutely sounds like a scam.

The agents are the real winners here 😊

The problem with this is that it doesnt solve the town being vacant, because folks like them bought a vacation house.....not a home

Bought a house for 1 €, ended costing 158,000 € . House in an abandonaded town in italy. This couple have too much extra money for sure.

"1euro" house with 4k agent fees and another 4k deposit for what it is a house in ruins. Sounds to me like Danny was a lot smarter and bought a ready to live house for about the same initial price without having to spend 160K on top. Which is to say the least ridiculous amount for an obscure town in Sicily.

The scheme worked for the town. However, with the sum of 165K that this couple paid, one could afford a renovated house along with a vineyard!

I think in general the scheme works very well. Even if people don't stay there 100% of time, they did bring a lot of business to local trade. They will be much more likely to spend a few months there, instead randomly flying around the world. What's more, each renovated house makes the town looks nicer to live in and more people might follow.

Danny is a real gem, top notch guy who serves and integrates into the community. Gary and Tam seem like they were already extremely well off, never needed the "deal" and only used it to get themselves a cheaper vacation home to spend a week or two a year. Two completely different classes of people.

The most ridiculous statement in all video was: 'a home like this in LA would cost over one million dollars' only Americans can think like this. These people spent 160K Euros for a 60-70K Euros resale value. When starting this kind of project, you must evaluate the market value of the renovated property. Thinking that you made a great deal because the same property would cost twenty times more in central London is simply idiotic.

I'd like to see some perspective from the locals who aren't elected officials

I'm italian, i really can't understand some of the comments. What did you expect? Being handed a brand new fully functioning home? And not paying any taxes or fees?

That Danny guy is good in serving the town he transplanted to. It's nice that there are people that have a vision to help where they decide to stay.

Agent fee of 4k euro is INSANE

What do you expect? It's a 1 euro house. You expect a lick of paint and move in? Don't be ridiculous.

Danny made my day. Feeding all those people is a truly beautiful way to become part of the town.

You got to love retired Americans, they fought for years against universal health Care, and were vehemently opposed to people immigrating to the country that didn't speak the language. Now they are moving to countries not speaking the language and enjoying their healthcare system. You can't make up this level of hypocrisy.

The video actually begins at 12:30

I think it's a brilliant idea. All that money spent on the house renovations is work, and business for the local town, while also upgrading the its outlook as well.

On the one hand I think the cost (total cost) is worth it just to live in such a beautiful landscape. On the other hand, this report answers zero questions about the reality of living (and working..?) in an ancient and remote Italian town. This is literally the perspective of two wealth westerners who have the money to do up the houses lavishly and live there part time whole maintaining a life back in the US/UK. For anyone actually looking to LIVE there full time, I imagine there are many compromises and drawbacks that are not immediately apprent. Still, that landscape....THOSE views! 😍

Honestly isn't it better to retire early to the Mediterranean, eat good food and enjoy the sunshine, instead of riding the underground to an office every day? We get so caught up in having the new car or jet ski that we lose sight of what really makes us happy.

So the american couple didnt actually move there, they use it as a holiday home.. And it sits empty the rest of the time?

For 160K € you can buy nice renovated house anywhere in Italy or Spain or Portugal.

Not gonna lie. If I could afford spending $100k on a house I would prefer buying it in Italy rather than in Canada or US. The weather, culture, cuisine, feeling of community and amazing Scilly landscapes... Sounds like an incredible place to live

Sorry but they did not do the house justice. It looks like a cheap US flip…

Sicily has a growing water crisis. I would suggest doing a deeper dive before buying property there.

I'm not sure that you picked the best example. I mean, if they buy each next door house they see on sale, it will of course change the deal. Now it's also obvious that couple is not lacking money.

Would be better if they were giving away plots of land for a euro. I’d much rather build my own house from the ground up then spending a fortune trying to refurbish garage.

The problem is the lack of reputable contractors. And if you have to go to court, it could be years before your voice is heard. That’s according to an American travel consultant whose YT Channel used to pop up on my feed.

guys ... there are plenty of rich people for whom the resale value isn't the issue. look at what people spent on digital ape pictures. to have another home, fully renovated in Sicily is the point.

I still think about this project. Thanks for the informative update.

The whole thing seems to be heavily stacked against the buyers of these 1 euro properties. Meaning that the buyers are very dependant of the skill of the local renevators (since i think they have to use local renovators instead of being able to choose the renevators that they want to hire) while there is at the same time a chance that they could lose the house if they arent able to renovate it in a certain amount of time. Not to mention most of these houses are located in somewhat isolated towns where population is rapidly dwindling downwards and where most services (schools, hospitals, restaurants, grocery shops etc.) might be relatively far away. Also rather than using 130k or so for a 1 euro house I would rather just try to buy a cheaper house with plumbing and electricity already installed in it.

I've renovated three derelict houses in rural France and never spent more than the market value of the properties worth. The key is making it livable and functional. You then get foreigners wanting a holiday home who are prepared to spend their money in the local economy thus bolstering and reviving the village. I've been at it for 20 odd years and contributed towards the revival of a faltering community.

Waking up to a beautiful view and living among a tight-knit loving community like that is the real value.

NOT a scheme… it was stated in the beginning EXACTLY what the person would have to do in order to buy these $1 homes. I still laugh at these when I hear them say “I thought I was going to buy a new house and not have to put money into updated the home” 😂

another thing is you cannot turn around and sell the home. It has to go back to the town. You cannot even give it to your children as inheritance.

It doesn’t matter what they do to this house it will degrade again . Here is why - if you look at the original walls they have flaking paint , mould and a type of plaster from this era which is coming off in parts -but intended to allow the house to breathe. The first thing foreigners do is cover the building with paint , modern plaster and tiles plus new windows. This creates a layer around the house which is almost unbreathable. The buildings in these villages are not made with proper foundations . When it rains etc the moisture from the base of the house will rise through the walls . This causes all the new paint and plaster to start coming off after a few years. Effectively the outer layer they put on starts to peel off faster than the original materials .So effectively foreigners always cover the old house with what they think are repairs that will just continue to create problems for them. In the Netherlands , Germany, UK , Norway , Denmark, Sweden and a few other places houses are built with correct foundations and moisture control even the old ones. In Spain , Portugal, Italy this doesn’t happen the same way . If you walk through any modern city in these countries check the paint on the buildings and the mould inside it is endemic. This is why locals buy more modern houses and leave the old ones as they are not worth the hassle.

if it was worth doing the locals would have done it.

What is also ignored is the fact that they revamped an Italian town house to Anglofy the interior. It's obviously going to cost more to do that, as there would be no one local to provide the interior that they wanted.

The fundamental issue with towns like these is that *a lot* of the for sale properties haven't been lived in for half a century or more. Many didn't even ever get running water.

Glad to see an update and the possibilities of good communities that can develop. Awesome.

They say "do your research" and then said they spent 170k€ on that house in that location that will be dead in another 100 years. For that money you could have gotten a bigger better place in a equaly beautifull remote environment elsewhere. They were completely ripped off with the agency fee of 4k per house, no sane agency will charge you a 25% fee unless you are american and fall for it.

It's really cool that these people did this. I think it's a fantastic project for anyone who really wants to do it, but first you have to want to live in the place. Then, if you really do want to live in that place, you have to think about what is the best use of your budget. These medieval old towns are not the most practical places to live: access can be difficult, neighbours can be really close, houses come with all kinds of surprises and need a lot of upkeep. You have to do a proper budget and compare with what it would cost to build your own place or to buy a plot of land suitable for a prefab on the outskirts of the same town. Of course, if you really want the romance of the old town, then go for it!

Going to a vacation home once or twice a year doesn't help build the community, the town, back up. That wasn't the point.

$160K and you're still in a dead town, in the middle of nowhere.

What in the god damn hell did they do to that bathroom??

Still works out to sweet FA. Here in Sydney, Australia, a rundown post WWII 2 bedroom asbestus fibreboard house will go for a million dollars AU.

The fact that it is referred to as the 1 Euro "scheme" tells you that it's a "SCHEME".

They spent nearly $185,000 USD They live full time in L.A. and visit a couple days a year. this is so absurd it's laughable this is like people who bought a time share, that are too ashamed to admit they got scammed.

This Sicilian town is about to be the new hot spot to visit!! I see it already❤❤❤congrats to Italy for increasing the liveliness of its neighborhoods!!

I looked into several of these one euro for a house offers . They were for tiny, very dilapidated houses abandoned for decades that never had plumbing or heating, in mostly abandoned villages on the east coast. The cost of renovation would have exceeded any possible resale value. Great for romantic buyers, but not practical.😊

I’ve told my mother about this over 3 years ago, I can’t believe this is still a thing!!

Yes, the €4.000,- agent fee sounds scammy, but like they said at the end of the video; 'A property the same size would cost over a million in LA'. You can renovate it however you like, get a nice property for 170k? Sounds like a dream to me. I am from and live in the Netherlands, and a historical house with modern ammenities for 170k is nowhere to be found here.

paying $1 to get a house in ITALY and being surprised it needs a lot of work is the most angloid thing i have ever heard

To all the people saying the agent fee is a scam... as an Italian, this is how it works here! This is the injustice we all have to confront in our everyday lives here, especially when it comes to paperwork and bureaucracy!

It’s 3am and I just learned I could’ve bought an Italian home for €249,999 less than what I payed for my home in Missouri. That’s bs and I need to go to sleep.

My friend bought one of these houses years ago and here is what he spent on renovations in Italy on the mainland (not Sicily): 1. He had to do the entire electrical system and change the fuse box which was none existent. 2. He had to repair walls full of mold from rain seeping in through cracks. 3. He had to fix the roof which was all cracked from the sun and rain. 4. He then had to re-cement most of the walls. 5. He had to install a new kitchen and bathroom with new tiles and cabinets. 6. Then, he had to tear down the entrance stairs to the house with new cement stairs. 7. He had to change the pluming in the kitchen and bathroom 8. He had to add new doors at the main entrance and several rooms in the house. 9. He removed all the old lighting fixtures with new modern light lamps 10. Next, he painted all the rooms with fresh paint 11. Then he removed the old flooring and installed new tiling in some of the rooms and carpet or rug in other rooms. 12 He brought in new furniture after throwing away all the smelly old furniture from 50 years ago. He then put a camera surveillance system on front and behind the house. It took him a few years to do all this part time. He did a lot of the work himself to save money. But, he still ended up spending 40 thousand dollars. There is no such thing as a cheap 1 dollar house in Italy. Also, on top off that he had to pay a 5 thousand dollar fee to his realtor. Then, there is insurance, permits fees along with fees to turn on the electricity and water. If you are willing to do all that while still not being sure if the house next to you will crumble and affect YOUR house then it's doable.

If you don't renovate to a certain standard within a set time limit, then you lose the property. Good game

Probably worked out better than the $1 lots in Saskatchewan.

It just seems that, if the primary goal was to inject money into the area and increase the population, this was the single most short-sighted way they could have done it, because it hasn't addressed either problem in the medium-to-long term. Sure, some tradesmen benefited, and maybe cafes sold a few more coffees until the novelty wore off, but it addressed none of the core issues like a lack of employment opportunities, so when the new family's kids hit 18, they'll be off to university and won't move back.

These people seem extremely naive.

Ive just recently sold my 14 th property. Total fees came to around $24 K which included: Agent $10K Advertising $2K Conveyancing $4K ( sell & buy ) New land $5K tax Removalist $2K Development insurance $500 Goes on & on!

160k for a 4 bedroom house sounds pretty amazing for someone who lives in a town where a 1 bedroom condo is 500-600k.

Remember that you're in Europe, not exactly an area known for cheap labor. It's far better doing this in Latin America where, at least in some areas, labor is incredibly cheap, along with the land. These people are buying wrecks of houses that often need a top to bottom rebuild. They might as well almost buy just the land and build it right from the start, the way they want, not someone 600 years ago. Also it's in an area known for significant seismic activity. They have truly lost their mind.

This is just about a couple who bought a couple old houses at auction and renovated them.

even 100k isn't too bad, when you can't even build a tiny home for that in US.

Italy should continue the 1 Euro system. It'll be a good program to copy in other nations eventually.

Danny is the kind of guy every city needs.

A friend of mine had a barn on his land that was owned by the ministry of defence (UK). It was falling down. The roof was caving in, the walls were bulging out in all directions, and the doors and windows had fallen off. They gifted it to him for free after he complained to them about it and redeveloped it for a lttle under 200k and had it valued upon completion (after two years) at 750k. Not a bad deal 🤷‍♂

People are saying it's bad these people are buying the homes and not spending 100% of their time there, but I think it's important to note two things: 1. The job you'd need to be wealthy enough to afford the renovations of these homes will not be found in these villages. 2. Keep in mind the opportunity cost. If a second home is pushing out a full-time resident (which is what we are used to in the US), then yes that's very bad. But that's not what is happening; these homes would be empty and drags on the community, but instead someone is at least in town part of the year, spending money in the town part of the year, and paying full taxes, so it's a massive improvement.

I recall how Japan constantly has Free houses and shops... typically hides over a 5k fee for transferring ownership, and about 40k in renovations (due to all the earthquakes which lower the price) every 10 years. It is still exceedingly cheap compared to places like America, where you can buy a tiny home in a low cost area for a small price of 230k, post Covid price reduction... even prior to that, the listings I saw were around 150-170k for worse houses... At that price, you might as well wait to buy one of those 40 bedroom hotels for 700k and convert it to a business... saw a listing up in Northern America with an amazing kitchen for a staff of 5-20, a dedicated ballroom, and a separate dining room (all of which could comfortably fit 70-80 people, and possibly near to 150 people for events in the ballroom).

Unless you are a qualified or at a minimum, handy home renovator, these deals were not a great idea for people. You were always going to be charged a premium on everything, so to make it worthwhile and make money you needed to be able to do large amounts of this yourself.

they call it rubble houses.. dont even touch the walls and posts , it will crumble like biscuits.

The agents are scamming those people.

as a sicilian i really hope these foreigns can mantain the sicilian aesthetic and architecture but other than that i see no issue, thank you guys for saving our small towns!

Why would they replace the old tiles???

To be honest I think this is an amazing deal. Instead of saving a lot of money you have to pay to the bank just to get a loan you can spend your savings on making the house you bought your home. That is how housing should work.

We heard about it through CNN. That’s all I needed to hear.

I love this!!! Remember hearing about this a couple years back, always wondered how it turned out. Like he said, who wouldn’t want a house in Italy

Sambucca is a beautiful place. A truly different way of life. I loved the back streets

This is the same ordeal with the abandoned houses for sale in Japan, high permit costs and materials is what’s getting people.

Think about the quality of life in that part of italy ... is absolutely priceless .

Problem is if that they wouldn’t get even near that price if they tried to sell it

As a person who finds peace in solitude and work remote, i can definitely see myself in these small towns, in my lovely italian house away from big cities ❤, im in my 20s now but after i get married i might buy one for real

Lets be honest here. They seemed real real green to rebuilding or or construction work in general. I wouldn't summarize the experience based on how these two experienced it. Especially since they are Americans in Europe. Just the cultural things are a challenge for these two, let alone sourcing the right materials for a renovation like that.

Theirs some abandoned homes in Pittsburgh PA that you can genuinely buy for $200. I inspect condemned homes and buildings for a living, and once theyre cleared of any hazardous building materials, the county, or property owner will spend thousands demolishing it and removing all the rubble off the property, so instead they’ll sell it, it’s not like Zillow or anything you have to kinda know somebody or talk to ur local county, Around me in Pittsburgh they’re row houses an only take up 0.1 acre of land between other homes so the land it self is worth basically nothing but I’ve seen 4 bedroom abandoned homes that I’ve inspected ended up being sold for a few hundred dollars and than the new owner dumps 50k-200k into it and than they have a decent property that they’ll live in, rent , or just flip for a profit. But yeah selling houses for only a few hundred dollars is actually common, thing is, they’re run down decrepit and usually cost around 30k just to make it so the county won’t condemn them and force them to destroy it lol

This makes sense if you have locals buying it. You can't save a village by having people from all over the world living together.

Very informative, always wondered about those homes, of course suspected there would be a lot more involved than just getting a cheap home. One has to be prepared to put a lot of work and a lot of money into it. Many years.... For people who like to invest in a home there and for the towns, that is a win win of course..

Seems like if you do your due diligence can be an insanely good deal but doesn't seem like lots of jobs in the area so unless you're independently wealthy or can remote work full time might not work out for you if you need a job where you live.

€4000 for agent fees is NOTHING. If you you buy a $300,000 in the US, you just paid $18,000 in agent fees.

I don’t understand what the problem is here! Is there anyone out there really thought that it will be cost only 1 euro? Really??

Interesting subject! Thanks

Damn, I would love to live in Italy. BUT, I could never live in a house where my neighbour's house is 1 millimetre away.

There is great danger that having renovated the house to their requirements, they will end up with something unsaleable. Italians, particularly in Sicily, would see no reason for as many bathrooms as bedrooms; nor would would most other Europeans. This kind of reconstruction has to be sensitive to the mores and culture of the host town.

In 2011, you could buy a condo in most German cities for between $50K-150K which had a 10%-12% rental yield. These Italian places will never generate a sensible return in either rental income or capital appreciation.

if you remember one rule, that renovation costs 5-6 times than you initially thought, you can make better decisions from the start

Fees and renovations for these homes seem to be nothing compared to housing prices in the US. 100 year old wood frame houses with lead paint, stone foundations, and mold/mildew problems go for upwards of $100,000-200,000 in rural/suburban New Hampshire. If you could buy one of these houses for $1 it would be an absolute steal, and some are in worse condition than these Italian homes.