Millennial Couple Saves $25K, Buys Derelict House in Italy—'A Bit Impulsive'

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Can moving to Italy wipe away your mortgage woes and land you a property faster? One U.S. couple spoke with Newsweek about how their big move paid off.

Plenty of people in the U.S., and indeed all around the world, can't help but feel drawn to the slower, simpler and more tranquil life on offer in Italy—a nation famed for its beautiful countryside, medieval cities, culture, food and wine.Kristina and Paul, a British-American couple who'd prefer to keep their full identities private, moved from Chicago to Lago d'Iseo in 2020.

Proprietors had started selling off crumbling, abandoned homes for headline-grabbing fees to attract foreign investors that they hoped would rehabilitate these forgotten townhouses, and inject some economic movement into the area they're situated in.Some of the Americans who got in on the deal sought the homes out with the idea of creating a retirement or vacation property in mind, others were keen to flip the homes and generate a healthy profit.

 

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