How a Brit Bought a Three-Storey House in Sicily for 85p and Transformed it into a Dream Home
A brave businessman has decided to quit the UK after buying a property in a sunny holiday hotspot for just 85p and transforming it into a dream home. After barely managing to survive living in London with the astronomical rent and soaring cost of living, 31-year-old George Laing packed his bags and jetted off to Italy to create his perfect life on the cheap.
A Bold Decision to Participate in the One Euro Houses Project
Laing took a bold leap and participated in the one Euro Houses project that takes derelict, abandoned buildings in Italy and flogs them to people at an insanely low price. The savvy entrepreneur jumped at the chance to stop wasting thousands a month on rent and quickly found a run-down three-bedroom cottage in the hilltop Sicilian village of Mussomeli.
Seeing the Potential in a Crumbling Home
Despite the crumbling walls, battered windows, and overgrown weeds, Laing says the 85p home was a steal from the moment he saw it. With one of the highlights of his time in Sicily being his morning coffee on his glossy balcony up at 765 meters above sea level. “I’ve still got a long way to go, but my hope is that in six months’ time I’ll have a house to be proud of – as well as accumulating a set of renovation skills I can then take into another property,” he said.
Overcoming Challenges in Renovating the Home
The property was in desperate need of an overhaul when Laing signed the contract for the house less than a year ago. Laing was well aware the renovation work would quickly add up and end up costing him well into the thousands. But, instead of paying local labours looking to bump up every cost possible for a glorified tourist, the 31-year-old decided to do the work by himself.
The Challenges of a Budget Renovation
With a tiny budget of just £15,000 for the entire project, the young homeowner is slowly making incredible progress. But the money has slowly creeped up as before a single lick of paint was smeared on the yellowing walls a £418 agency fee was added. An extra £2,500 needed to be coughed up for the transfer of the deeds and all the legal fees with another £1,500 going towards an energy certificate, floor plan and a range of other costs.
Final Touches and Future Plans
One of Laing’s biggest fears however is a looming £4,250 fine that many people on board with the housing scheme are forced to pay. Laing is proud of his bold choice and says despite his pals being nervy about the move he is now confident it was the right choice.
The One Euro House Scheme: How it Works
Depending on the region, a number of towns and villages across Italy have offered the cheap €1 properties to encourage people to move to the area. There are around 25 regions who are taking part, each with a number of properties. Many of the areas have a dwindling or aging population and hope to build the community again. The properties range from small houses to larger villas, but are all in a very rundown condition.
Laing expects to spend £15,000 on renovating the new home and is optimistic about the future he is building for himself in Sicily.