Man who purchased “dream” Italian house for $1.50 ends up selling the “nightmare” property back to the real estate agency
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A British man who purchased a "historic" house in Italy has found himself in a serious dilemma after he could not find a builder to renovate the home.
58-year-old Londoner Danny McCubbin said that he was looking forward to moving into his own home in Mussomeli, Sicily after he bought the property for only $1.50 after moving to Italy from the UK in 2020.
The "dream house" is located in the town's historic district, where other houses were on sale at similar prices.
It should be noted that government officials offered abandoned homes in rural Italy to foreigners at low prices in a bid to increase the shrinking population of residents in these areas.
However, it can't be denied that while the locations of these homes offer picturesque scenery for their residents, the abandoned homes are in dire need of renovation.
The British expat bought a property in a scenic, historic district in Mussomeli, Sicily, Italy for $1.50. Credit: Danny McCubbin.
So, the major problem that prospective homebuyers encounter is the fact that they need manpower to help them give their properties a makeover.
The issue, however, is that Mr McCubbin didn’t anticipate this dilemma and was distraught when he could not find builders to help him renovate his home.
Italy is currently facing a shortage of builders after new tax breaks on home renovations were instituted.
Due to a long wait for a building team, Mr McCubbin found that the renovation cost had increased hugely as the house now needed more work.
He said: “It was very difficult to find a builder and over time the house deteriorated."
“By the time I did find a building company, it was double the cost to renovate it. I decided it was not worth it for me anymore.”
The government of Italy is offering homeowners generous rebates on eco-friendly renovations, and upgrades that make houses more resistant to earthquakes.
Thousands of Italians and expats grabbed the opportunity to renovate their homes, leading to a shortage of builders.
A few months after Mr McCubbin failed to find builders to renovate his one-dollar-home, he sold the property back to an estate agency.
Danny McCubbin was forced to sell the property back to a real estate agency after he failed to find builders who could help him renovate the house. Credit: Danny McCubbin.
However, he has now undertaken another renovation project after buying cheap property in the same town for $11,700.
The British expat was successful in finding two builders — who squeezed in a week of work for him between other bigger projects — to help him with his home renovation.
It was reported that Mr McCubbin spent €5,000 ($7,300) to fix his home.
“I moved here at the end of December 2020, because I wanted to live in Italy when Brexit happened,” he said.
“I’ve always wanted to live in Sicily, my parents loved the countryside. So I asked myself what was missing in Mussomeli and I came up with the idea of The Good Kitchen.”
After settling into his new house, the British expat opened a community kitchen in the town's main piazza to offer free meals to those who are in need.
For those of you who are thinking of moving to Italy to purchase a cheap home, Mr McCubbing has one piece of advice: “Foreigners are buying houses that are not part of the €1 ($1.47) scheme but are already liveable, or require a little renovation work which they are often willing to do themselves."
What are your thoughts on this? Does purchasing a house that needs lots of renovation for a euro sound worth it? Share your thoughts with us in the comments below.
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