‘Get our life back’: Gold Coast family flees to Italy to escape mortgage pain

An Australian family is ditching the Gold Coast for Tuscany, saying the brutal cost of living at home has made staying put impossible. Krysti-Glory Gallo and Ricardo Parata are preparing to move their family to Lucca, Italy, in February 2027 after snapping up a three-bedroom terrace for €205,000, about $330,500. Their goal is simple: cash out of Australia, wipe their mortgage and get their life back. The couple bought their Gold Coast home in 2023 for $525,000 and expect to sell it for about $1 million next year. RELATED 39yo quits Aus for Asia, cops it over ‘helpers’ ‘Mistake’: Brit reveals why he regrets leaving Aus Portelli warns of mass exodus after Dubai relocation After paying out the remaining mortgage, they estimate they’ll be left with about $450,000 in equity, enough to buy their Italian home outright and live debt-free from day one. For Ms Gallo, the decision was easy. “We realised moving overseas was a better option than staying in Australia when my wage no longer covered our mortgage,” she told the Daily Mail. Krysti-Glory Gallo and Ricardo Parata, along with their two sons, are moving to Italy to escape Australia’s rising living costs. The family had been staring down...