Brit makes a bargain This is how much house you can get for one euro in Sicily
The entrance to George Laing's one-euro house in Mussomeli in Sicily, where around 10,000 people live.
Image: Instagram/george_laing_
Behind this door, which has since been sandblasted, ...
... conceals a gutted wet room. On the first floor opposite....
... is this room.
Narrow is the key word in this one-euro house.
The marble staircase is a highlight for the new owner.
The hole in the roof above is one of the biggest problems.
There are two rooms in the upper area...
... and a balcony.
The entrance to George Laing's one-euro house in Mussomeli in Sicily, where around 10,000 people live.
Image: Instagram/george_laing_
Behind this door, which has since been sandblasted, ...
... conceals a gutted wet room. On the first floor opposite....
... is this room.
Narrow is the key word in this one-euro house.
The marble staircase is a highlight for the new owner.
The hole in the roof above is one of the biggest problems.
There are two rooms in the upper area...
... and a balcony.
Because a property in the UK would be too expensive, George Laing bought a house in Sicily - for just one euro. Now he is renovating - and wants to help others to fulfill their dream of owning their own four walls.
No time? blue News summarizes for you
- British man George Laing has bought a one-euro house in Mussomeli, Sicily.
- This is how the house purchase went.
- The one euro turned into 5000 euros in practice, including fees.
- Laing is now renovating the house with a budget of 15,000 euros: That's the biggest cost so far.
- YouTube videos help Laing with the renovation.
George Laing has had enough of property prices in the UK. The man from Eastbourne lives in London, where he pays over 1000 euros in rent for his small flat. Laing wants to buy a house, but only has 5000 euros in his bank account.
So the Briton looks abroad for a cheap alternative. He first researched the situation in Bulgaria before stumbling across the 1 Euro Houses website digitally.
"I was living in London and had to spend more than 30 percent of my salary on rent," the 30-year-old recalls in an interview with Euro News. "When I decided to invest in a property, I didn't even have the chance to save for the deposit."
In the UK, he wouldn't even have been able to get money for a mortgage - and instead he ended up in Italy. "I have no real connection to Sicily," he admits. "I went there once when I was 14 on a school trip and I don't remember much about it."
"It's a matter of luck which houses she wants to show you"
But because it was so important to him to own a house himself and there were "not many places" where this could be achieved for little money, he didn't mind moving to Mussomeli. Buying a one-euro house in Italy is special, Laing explains further.
"When you turn up on the day, you're with ten other people and a woman who shows you around the town with a bunch of keys with over 100 keys, and it's a matter of luck which houses she wants to show you," says Laing.
The Brit finds a property in Mussomeli that interests him. "The roof hadn't collapsed and it seemed pretty reasonable," recalls the new Italian. "Besides, eleven is my lucky number - and that's the house number." Given the purchase price, you can't be too picky either.
1 euro becomes 5000 euros
But there is also an American at the house viewing who has already bought three houses in Italy and is looking for another investment opportunity. "I took him aside and asked him to let me have the one. I had to talk him into it."
The American agrees - and the Brit wins the bid in April. But not for one euro: In addition to the purchase price, there are fees for the estate agent and lawyer as well as an energy certificate. In the end, the new home costs 5000 euros.
And Laing gets more than he expected: "The most shocking thing was that there were a lifetime's worth of possessions in the house because the owner left unexpectedly." The Briton finds a well-preserved marble staircase, but also destroyed doors and cracks in the walls.
The previous owner's possessions pile up
The new owner doesn't have the money for an expert to look at the cracks. But: "The house hasn't moved in the last two or three centuries, so I don't think it will in the near future either."
Because the water and electricity are not connected for the time being, Laing is renovating without any electrical appliances. "I'm staying in the house for two days. Then I get to the point where I urgently need a shower and check into a hotel." He has no manual experience: YouTube videos help with the repairs.
The budget for renovating the house one day is 15,000 euros. Most of the initial costs would have been for flights and hotel accommodation. One condition is that Laing renovates the façade within three years. This is also the earliest point at which he can sell again.
And Laing still has big plans: In the next five years, he hopes to acquire ten houses. "People sometimes think you need hundreds of thousands to buy a property, but that's not true."