By now, most folks have heard about the €1 home schemes of various Italian municipalities – buy an abandoned centuries-old home in a small town or village for pennies, pay to renovate it, and live out your Under the Tuscan Sun fantasies for a fraction of the total cost your wildest dreams could have ever thought.
The reality is sometimes not so dreamy, however – the homes aren’t generally in Tuscany but rather in Italy’s less developed south; navigating through the bureaucracy, tax, and preservation laws can be a real bear; and, once it’s all said and done, you may find yourself living in a pretty isolated part of the world thinking, “how did I get here?”
Enter Retire2Italy, an immigrant relocation service in Italy that has combined a need to save a few dying homes in their childhood stomping grounds of Emilia-Romagna with the distinct awareness that dealing with Italian bureaucracy can be a real pain in the sedere (that’s “butt” in Italian – your first lesson to prepare for your move!).
“My whole family was born and raised in the municipality of Vetto where they used to run a local restaurant; unfortunately, the demographic change of post-war Italy and the attractiveness of nearby cities have prompted many young inhabitants to move out of town en masse,” says Retire2Italy’s Nicolò Bolla, who is also a certified accountant. “The result is a significant drop in the town population, leaving abandoned homes and family histories behind. So, I took this challenge very seriously as I don’t want to see my land and my family history disappear.”
Bolla and his partner, Alessandro Barba, have rescued three 17th-century homes slated for demolition by the municipality of Vetto, located about 43km southwest of Reggio Emilia, and will auction each with a starting bid of €1. However, there’s a catch: Retire2Italy will provide all the necessary tax, immigration, and renovation support to the winning bidder – a benefit that could be life-changing, helping you avoid the frustrations of the bureaucratic process and enabling you to enjoy Emilia’s finest local specialties (think Parmesan cheese, tortellini, balsamic vinegar, ragù, and Parma ham) with a fine Lambrusco, all without a care in the world.
“Renovating a property can be a major challenge, but the federal government has introduced a €96,000 tax benefit (per independent building on the property) to people renovating properties, and Emilia-Romagna offers an additional €40,000 for house purchases and renovations for EU passport holders who move to mountain areas (where Vetto belongs),” continues Bolla. “Finally, the municipality of Vetto awards €1500 for any home purchase.”
Moreover, Reggio Emilia is a wonderful Emilian city with great restaurants, transport options, and historic significance (the tri-colored Italian national flag hails from there) – conveniently located between two other special places, Parma and Modena. What are you waiting for?
