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1 Euro house, is it worth it?

 

Yes, today everyone is talking about the houses being sold for 1 Euro in few places in Italy, including the picturesque town of Nulvi, in North Sardinia, and there is no trick or misleading information, the houses are effectively sold for 1 euro! We’ll explain what comes after the purchase in this specific place and what other options we propose to buy your holiday home in the beautiful Sardinia.

All the houses being sold for 1 Euro need deep refurbishment and, in some case, partial demolition and rebuild, so the cost will vary based on the conditions, size of the estate and Client’s expectation. (please refer to our article about refurbishment cost in Sardinia) In case of Nulvi, all works should be completed within 3 years from the purchase and a bond cheque must be given to the municipality as guarantee that the works will be completed as per agreement. These houses are locked down and in many cases floor plans aren’t available, so the journey is a bit of a leap of faith and requires professionals to be on the ground round the clock to follow the works. You can see the properties from outside but can’t enter them since is unsafe, inside you may find a treasure box or a pile of debris.

Buildings facade in Cagliari, Sardinia

Let’s go a bit back, before opening these doors we have to consider that the reasons of abandoning these little towns are no longer valid today, this due to the nature of today’s jobs, the construction of new faster roads and the availability of services that today are spread throughout the territory and make life much easier than in the 50’ and 60’ when these towns were abandoned.

The question all our clients ask us is: does the final amount spent worth the total cost? Yes it does! Just consider that you aren’t paying the land your house is built on and the math is done.

Tipical road in Sardinia

Real estate in Sardinia is steady and stable, tourism grows like never before and a nice house is always appreciated and today’s eye on the little retreat towns, away from chaos yet close to major cities and surrounded by uncontaminated nature, is shifting the attention to these super offers that seem unreal if compared to prices in the big cities.

We can say that in these little towns every euro spent is a euro earned, for construction value, for quality of life, safety etc.

Let’s see it from another perspective and ask: is going for a house that needs full refurbishment the best solution for you?

This is a different point, but if you are adventurous enough to see the house being completely rebuilt and ready to accept the limits of the existing walls as final, then you’re served.

We’ve got several requests for different kind of solutions to transform the places into, such restaurants, B&B, art gallery, houses and so on, that can’t be accommodated into the specific houses currently sold for 1 euro.

Our suggestion, in these situations, is to chose amongst the many other options offered in North Sardinia, that can better suit the client’s needs and will require less refurbishment, leaving the final cost comparable to the houses bought for 1 euro and then fully rebuilt.

Snow in a forest

In Sardinia is plenty of picturesque little towns, often with stunning views on nature, close to big cities and transportation hubs, where big villas, townhouses, shops and lands are being sold for as little as 30.000 Euro, making it a very good opportunity not to miss in these years.

Today more and more of these properties are being bought and converted by foreigners rediscovering the pleasures of living in a small town where time seems to slow down to a more natural rhythm, ideal places to recharge the batteries and concentrate on the good things in life.

A touristic beach

These cheap solutions are available throughout Sardinia and would shock any real estate investor who’s looking for a place to spend quality time in Sardinia.

 

Don’t worry about language barrier, authority approvals, selection of professionals to be involved, procurement and construction, we are sure we can help you stay within your budget and exceed your expectation in terms of quality. All you’ll have to do is read our reports and take informed decision in the comfort of your home abroad.

Get in touch, Sardinia is waiting for you!

Posted in Investments in Sardinia, Project and design management

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