Why would anyone buy a property in Italy for 1$
Buying a property in Italy for 1$ ... are buyers mad?
The dream of living in Italy is high on many a list when it comes to those considering a new lifestyle.
Purchasing a home can be a daunting task, and even more so when it is located in another country or another continent.
Properties in Italy being sold for 1$ are not just targeted at locals or even Italians come to that, as history says that many Italians are moving out of villages and small towns to larger cities, which is no different to any other European economy.
The intent is to bring new life to run-down areas, and the concept of buying a property in Italy for 1$ appeals to overseas buyers looking for the Italian countryside, climate and lifestyle.
When the realisation that a property in Italy for 1$ is not the only cost, buyers then have to start figuring out whether buying often a shell that requires building from the inside out, or buying a higher priced property, maybe renovated or partly renovated. will actually work out better in the long-run.
Even with the property purchase price being 1$, the legal fees and ownership transfers registration etc will likely run into several thousand dollars.
If wanting to look further into the concept, the BBC has a fascinating video feature which can be seen here, Buying a property in Italy for 1$.
There is the question of location to take into consideration. Often the Italian properties for sale for 1$ are situated in remote areas and off the beaten track.
The location may be one of the attractions, and the thought of renovating a property from scratch, using the bare walls to create the perfect Italian property may be just what the doctor ordered.
Anyway one looks at it, a good deal of thought and research should be applied before sending the 1$ to the seller in Italy.
In the end, if the buyers achieve their goal of reaching a new way of life in Italy, they may not be so mad after all.
Italy for 1$ | Buying a Property in Italy for 1$