THE UGLY TRUTH ABOUT 1 EURO HOMES | Italy's Cheap Houses Explained

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They are selling houses in Italy for 1 Euro ($1.19) but what's the catch... the truth is that Italy has been seeing a population slump particularly in the rural areas. Older homes are not being taken over by the next generation resulting in a decline in population and ruins being left behind. With all the nostalgia that is the renaissance its a shame this is happening but there is hope!

The catch is most of these $1 houses are a total mess, deemed unsafe, or flat out UGLY. They need to be renovated and sometimes reconstructed to make it livable again. But what do you expect they are $1. The argument is is it worth it when compared to other properties that are also really cheap. Do you spend $30,000 repairing your Ugly $1 home or do you spend $30,000 for a move in ready home that has been upkept.

The hope in all of this is that the Italian government is paying out a super bonus tax credit to home owners that are doing major renovations that fit the broader strategy for Italy. Homes that are structurally repaired and facade improvements are benefit from 110% tax credit...mean your repairs are fully paid for. Now that's awesome!

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