Ever wanted to buy a home for like about $1.60? Well somewhere in the world YOU CAN!
And that somewhere is over in Italy.
The local government in Mussomeli (in southern Sicily), has already sold over 100 empty homes for just €1 (which equals $1.62 here in Oz) and now has another 400 on the market.
And there is a catch, these homes are not in pristine condition, far from it in fact, they are a bit rundown.
Now the town has organised engineers and architects to help with the renos plus you have the option of getting your own home reno team together.
Either way, you MUST renovate the home within one year of purchase or you stand to lose the $8000 security deposit.
The renovations might cost about $107 per square foot, and let's not forget other costs like administration fees of between $4000 and $6450.
But who cares, $1.62 for a home is awesome!