I bought a $62,200 house in Italy that I'm planning to move into full-time. The home prices are so low I bought a second house — and may buy more.
This as-told-to essay is based on a conversation with Lorrah Minton, 53, about her experience buying low-priced properties in Mussomeli, Italy, a 10,000-person town in Sicily, as an American citizen. The following has been edited for length and clarity.I've gone to China, Amsterdam, Paris, Germany — all over — but Italy just felt like home.
The house I bought is almost 3,000 square feet. The kitchens are being put in, but I'll have a full kitchen, then a kitchenette, two living rooms, and a laundry area.Since I've been here and met more expats, I've found that there's a huge need for people who want to move here and get residency.My brother and I thought,"Let's buy a couple of houses and then rent those.
I need a kitchen. I needed my walls not to have crappy wallpaper falling off. Do I need a second kitchen? No.Before and after photos of Minton's kitchen renovation.What needed to be paid at closing for my primary house was a 10% deposit and the agency fee, which is generally 4% of the purchase price. One thing that surprised me was you deposit it to their bank account, not an escrow account, which was strange to me but it's very common.
After all the fees, it all totals to 69,182 euros. But if someone said you can get this 3,000-square-foot, six bedroom, two kitchen, beautiful house for 70,000 euros, I'd say,"Done." It's just all the little steps that threw me off.I try to take one big international trip a year. I've always had a dream of spending every summer in a different country, because I don't like to just travel, I like to immerse myself in it.
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