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After Comparing Housing And Childcare Costs In The US, Couple Buys House In Italy For 11,500 Euros, Invests Up To 15,000 Euros In Renovation And Acquires Second Property For 17,000 Euros To Generate Income With Rent Of Up To 85 Euros Per Night
A couple from Washington bought a house in Italy for US$ 13,150 in February 2022, invested between 12,000 and 15,000 euros in renovation, and in 2024, acquired a second property for 17,000 euros to rent for up to 85 euros per night.
Decision To Stay Abroad And Search For A House In Italy
Cassandra Tresl, 33, and Alex Ninman, 34, were living in the Czech Republic with her grandfather when their daughter was born in 2020. Faced with the choice of returning to the United States or staying abroad, they began to evaluate housing and childcare costs.
The couple had moved into the grandfather’s house in March of that year, after discovering the pregnancy. They used the property as a base while traveling around Europe before the birth. Initially, they told friends they would return to the US after the birth.
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When calculating the cost of buying a house and paying for childcare in the United States, they decided to consider Italy. Tresl realized that returning would be more expensive. The search for a house in Italy became a concrete alternative.
She recalled reports about Italian towns selling houses for one euro to attract foreign investors. The model involved purchasing, renovating, and encouraging population growth in municipalities with a declining number of residents.
Tresl wanted to determine the real cost of acquiring one of these properties. The couple did not intend to spend more than 20,000 euros, or about 23,627 dollars, on the purchase. Many one-euro offers had additional conditions.
In some towns, the symbolic price hid final costs in the thousands. In others, bids started at one euro but increased. Additionally, buyers generally had to complete renovations within a set timeframe.
Tresl began online research and, as they were already in Europe, were able to visit properties in person. She stated that she would not make a purchase without checking the properties. The decision to search for a house in Italy included in-person visits.
Purchase In Abruzzo For 11,500 Euros
In 2021, the couple visited 15 properties in the regions of Abruzzo and Tuscany. They ended up buying a two-story house, two bedrooms, and just under 100 square meters, with a third bedroom in the basement and an attic, in Abruzzo.
The choice was primarily based on price and view. Tresl used spreadsheets to compare pros and cons. According to her, Abruzzo offered better value for money. At that moment, the focus was on price and business opportunity.
The purchase was completed in February 2022 for 11,500 euros, or US$ 13,150 at the time, in a cash payment, according to documents reviewed by CNBC Make It. The terrace with a view was a decisive factor.
Tresl emphasized that having a terrace and a view was essential. The price allowed for acquisition without a mortgage, which reduced financial stress. She stated that financial freedom was one of the main factors in their decision.
The house had been vacant for 30 years. Therefore, it was uninhabitable at the time of purchase. The family temporarily returned to the Czech Republic to plan their permanent move and later rented an Airbnb in Abruzzo for just over a month.
Renovation Between 12,000 And 15,000 Euros
The renovation included wall cladding, part of the electrical installation, replacing windows and doors, as well as a complete renovation of the bathroom and kitchen. Ninman did a significant portion of the work, hiring professionals for plumbing.
The estimated total cost was between 12,000 and 15,000 euros, or between 14,207 and 17,758 dollars. During the works, they expanded the terrace, added a bathroom on the lower floor, and converted the basement into a guest suite.
The majority of the renovation was completed in the fall of 2022. The basement and attic were renovated in 2023. Tresl decided that the design would be eclectic, with pieces acquired at thrift stores and antique fairs.
She stated that she sought natural materials and a combination of warm and cool elements. The house received colors in the painting, as she considered the space small and wanted to make it cheerful. Each chosen item had a specific meaning.
Although they did not have a mortgage, there are fixed expenses. Internet costs 12 euros per month. The property tax is 61 euros annually. Water totals 91 euros every two months.
The electricity bill reaches 217 euros every two months. The waste fee is 286 euros per year. In the winter, they use a pellet stove, with additional costs that can reach 42 euros per week, or about 200 dollars per month.
Second Property And Long-Term Plans
Since their permanent move, Tresl left her job in technology and began creating content for a travel blog and newsletter. She also works as an operations manager for another travel blogger.
Ninman left his job as a butcher when he left the US and started managing the couple’s second property. In 2024, they purchased another house in Italy for 17,000 euros, or about US$ 20,083.
The property, located in the countryside of the town where they live, has two bedrooms, one bathroom, a private garden, and its own land. It is rented on Airbnb for up to 85 euros, or about 101 dollars, per night.
Tresl stated that she prefers to keep the main residence in the city center for the possibility of doing everything on foot. When asked about future relocation, she said they plan to stay in Italy for at least the next 10 years.
She declared that she wants stability for their daughter. The couple considers evaluating a potential move only when they know what their daughter’s plans for education will be. Until then, staying in Italy remains a definite decision.
They visit the United States about once a year. Although they consider the country their home, Tresl reports feeling more foreign with each return. Her current life experience, according to her, provides a different childhood for their daughter.
The journey began with the search for a house in Italy within the limit of 20,000 euros and resulted in the acquisition of two properties. The decision involved cost calculations, structural renovation, and the couple’s professional reorganization.
The choice to stay abroad was made after evaluating expenses for housing and childcare. The cash purchase for 11,500 euros and subsequent investments solidified their life project in the European country, transforming the house in Italy into a permanent family base.
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