You’ve heard the saying, “If it sounds too good to be true, it probably is.” While that may hold some truth, for the right person, living in a small Italian village could still be a dream come true.
The 1 Euro Home Project was designed to revitalize and repopulate some of Italy’s historic districts. In this context, a “small town” or “village” typically refers to an ancient, rural area. Homes sold for the symbolic price of 1 euro are often in poor condition—many are ruins that may lack a roof, plumbing, or electricity.
Additionally, poor public transport connections can be an issue. Many of these villages are not close to train stations or airports, so having a car is essential in most cases.
Things to Consider
Renovation Needs:
These homes are usually old, abandoned, and located in remote towns, meaning they will require major renovations. However, with the right professionals—such as architects, contractors, restorers, and engineers—the project can be successfully completed.
Survey and Legal Check:
It’s crucial to conduct a thorough survey to confirm the property was legally built. Some buyers have faced problems because proper legal checks were not performed prior to purchase.
Renovation Timeline:
Buyers typically must present a renovation project within one year of purchase. Once the necessary permits are secured, construction must begin within two months and be completed within a maximum of three years.
Local Workforce Requirement:
Some municipalities may require you to hire architects and builders from the local area, which supports the town’s economy.
Surety Bond:
The local municipality (comune) often requires a surety bond, usually between €1,000 and €5,000, which is refunded upon successful completion of the renovations within the required three-year period.
A Rewarding Project with a Purpose
Restoring a 1 Euro home can be an exciting and fulfilling challenge if you’re ready for the hard work involved. This isn’t just about restoring a house—it’s about helping revive an entire village that has been left behind as residents migrated to larger cities or abroad.
For retirees, adventurers seeking a unique experience “off the beaten path,” or anyone searching for a second home, your investment could breathe new life into a near-forgotten area, attracting future investors and tourists.
By taking on this challenge, you’ll become part of the effort to restore a corner of the world that has been almost lost to time—helping it reclaim its former charm and splendor.