House in Italy for ₹12.4 lakh: Couple cracks unbelievable deal in picturesque location; 2-storey home, basement, attic
Cassandra Tresl, a writer and content creator, recently shared her family's home-buying story with CNBC. She moved from New York City to rural Italy in
Cassandra Tresl, a writer and content creator, recently shared her family's home-buying story with CNBC. She moved from New York City to rural Italy in 2019. Her family eventually settled permanently in Italy's Abruzzo region. The couple paid 11,500 euros (₹12.4 lakh at present rate) for their property outright. Living in a small town made this remarkably-low price possible. Such affordability would be unimaginable in most American housing markets. The house is situated in a traditional hilltop town. “That means we have these magnificent views,” Tresl wrote. “Can’t imagine moving back to the US” anytime soon, she added. Also Read | Gift of foreign property by a returning Indian and tax implications Their home spans two floors, totalling roughly 1,076 square feet. It includes two bedrooms on the main living level.
A third bedroom is in the basement, too. An attic space rounds out the property's overall layout. Beyond the purchase price, the couple invested further funds in renovations. They spent approximately 15,000 euros (₹16 lakh) on improvements to the property. Including the purchase price, the total investment was around $30,200 (₹28.5 lakh). Crucially, Tresl and her husband bought the home entirely in cash. This avoided the financial burden typical of US homeownership. Tresl described the achievement as feeling "unbelievable" when reflecting on it. She also noted feeling genuine relief from this arrangement. Without a mortgage or rent payment, the family gained significant flexibility. This single decision fundamentally reshaped their financial obligations and monthly budget. No interest payments or long-term debt accompanied their move into homeownership. Tresl initially continued working remotely for her US tech company.
She eventually transitioned to lower-paying work after settling permanently in Italy. She now works in marketing for an Italian travel company. She also creates content as part of her income. Despite earning less than her previous New York salary, Tresl considers the tradeoff worthwhile. The lower cost of living in Abruzzo supported this transition smoothly. Reduced housing costs played a central role in making this possible. Cost of Living Beyond housing, everyday expenses are more affordable locally, according to Tresl. Food and childcare costs proved notably lower than their equivalents in America. This affordability considerably extended the family's financial breathing room. The absence of housing debt significantly amplified these broader savings. Together, these factors allowed the family to prioritise experiences over income growth. Tresl described feeling "less focused" on constantly earning more money.
The BriefWire