‘Fake’: Hidden cost of buying a €1 home in Italy revealed

Aussies lured by Italy’s $1.63 home dream could end up staring down renovation and red-tape costs of up to $163,000, with experts warning the bargain price is often the smallest part of the bill. Property adviser Nikki Taylor says the headline-grabbing €1 homes have sparked huge interest among Australians locked out of the local market, but many buyers don’t realise they’re also taking on strict council obligations, permit costs and major repair work. “I’ll be straight with you – I’ve always been against the one-euro home,” she told Yahoo News. “The €1 is a headline, not a price.” Taylor left a finance career behind and moved to Italy in 2014 after first falling in love with Florence on a trip years earlier. MORE NEWS Four Aussie mates buy $1.63 home in Italy to escape house prices How to save $40k in just eight months ‘Done with Australia’: UK renter trapped in mould-infested home Nikki Taylor has warned Australians about the pitfalls of buying a €1 home in Italy. Source: Supplied Since then, she has bought and renovated her own home and built a business advising international buyers through Italy Property Consulting. And while the idea of paying just €1 for a home sounds irresist...