By Montserrat Arqué
Jun 25, 2024, 16:34 PM EDT
Can you imagine starting a new life in Europe by buying a house for only 3 dollars? In Sambuca di Sicilia, Italy, this is a possible reality.
This picturesque town offers a unique opportunity for those looking for a radical life change and are willing to invest in the renovation of historic homes.
Houses in Italy at incredible prices
Sambuca di Sicilia, a small Italian beachfront town, has launched a plan to sell more than a dozen abandoned houses at prices ranging from $3 to $5,500. The goal is to attract new residents who will boost the local economy and revitalize the community. The properties, which include 2 and 3 bedroom houses, spread over 2 or 3 floors and with areas of 50 to 60 square meters, also have patios, balconies and other attractive areas.
One of the main conditions for acquiring these properties is to undergo complete renovations within 3 years of purchase. The city’s mayor, Giuseppe Cacioppo, assures that all the houses are “structurally stable”, but need a “change of style” and significant internal improvements. Failure to comply with this requirement will result in sanctions from the local government, underscoring the seriousness of the commitment expected of the new owners.
How to buy a $3 house in Italy
The process of purchasing a house in Sambuca di Sicilia begins with an auction. Interested parties must submit their offers in sealed envelopes, which will be opened before a judge to validate the process. Auctions start at $3, with an average sale price in previous years of $5,500. Participants must pay a security deposit of up to $5,400. If the bid is successful, this deposit is used as part of the guarantee for renewals; If not, the amount is refunded in full.
Although the start date of the auction has not yet been announced, Mayor Cacioppo recommends that potential buyers visit Sambuca di Sicilia during the spring or summer. These stations are ideal for exploring the town, learning about the housing plan and choosing the house in which you want to invest.
Moving to Sambuca di Sicilia not only offers the possibility of acquiring a property at a low cost, but also the opportunity to live in a beautiful and peaceful environment. This coastal town has a rich cultural heritage, a welcoming community and an enviable quality of life. In addition, new residents can enjoy the local cuisine, the Mediterranean climate and the proximity to other cities and tourist attractions in Italy.
Before embarking on this adventure, it is crucial to take into account several practical aspects. Renovation costs can be significant, so proper budgeting is essential. It is also important to be prepared to adapt to a new language and culture, and ensure you meet the legal requirements for residency and permits in Italy.
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