A man who bought a house in Italy for under a pound after being inspired by a BBC property show says he has never been happier.
George Laing, 31, was inspired by BBC 1’s Amanda and Alan’s Italian Job, where the pair renovated a house purchased for one euro, to do the same in the pretty Sicilian village of Mussomeli, Sicily.
Under the 1 Euro Houses scheme, people can purchase buildings bequeathed to selected Italian councils for the symbolic sum of one euro. After buying the building, it is down to the new owners to renovate their new homes.
A couple of years ago Mr Laing, who runs a jewellery business, was searching for cheap ways onto the property ladder when he came across the scheme online and decided to invest in a new home.
Speaking to the Mail about his experience of buying the house, Mr Laing admitted there had been some extra costs besides the advertised one euro purchase price. He explained: “The agency fee was £418 and I later had to pay £2,500 for the transfer of the deeds and legal fees, followed by around £1,500 for an energy certificate and floor plan and assorted other fees.
“All in all, becoming the proud owner of number 11 cost me around £4,500 — less than it would cost to buy a parking place in some of London’s posher postcodes.”
As well as the cost of becoming the owner of the property, Mr Laing also had to consider the three-year time limit imposed on owners of these houses. Under the rules, if work on the façade is not completed within three years there is a £4,260 fine.
Despite this, Mr Laing is undeterred as he travels once a month from his home in Eastbourne, East Sussex to Palermo and up to his home in Mussomeli.
Upon reaching his house, he undertakes the work almost single-handedly as he fixes up the house on a budget much smaller than others who invest in the scheme.
Whilst some prospective homeowners invest up to £50,000 on renovations, Mr Laing said he is aiming to complete the project for just £15,000.
Despite the hard work, long hours, and even longer commute, Mr Laing said that he has never been happier. Furthermore, whilst he is uncertain about whether he’ll sell the property, he said it felt like the beginning of a fulfilling and new life.