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Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'

03 May 2023 , 09:50
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Meredith heard about Italy
Meredith heard about Italy's '€1 houses' and snapped one up (Image: Meredith Tabbone / SWNS)

It's many people's dream to buy a home in the sun, where they can vacate on holiday and rent out other times of the year.

But often investing in a property abroad comes with risks and you've got to be willing to take them.

In 2019, Meredith Tabbone heard about councils in rural Sicily, Italy, auctioning off abandoned houses with a one euro starting bid, to regenerate the local area.

She viewed a derelict 1600s building, that had no electricity or running water, and was just "one big room" over a basement - starting at €1.

Despite the roof being thick with asbestos, Meredith placed a random £4,400 offer and snapped up the "rundown fixer-upper".

Life on one of the UK's cheapest streets where homes sell for just £25,000 eiqrtiqhxidhprwLife on one of the UK's cheapest streets where homes sell for just £25,000
Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'The house before the renovation did not have running water or electricity (Meredith Tabbone / SWNS)

The property was located in Sambuca di Sicilia, a small village where her great-grandfather, Fillippo Tabbone, grew up.

Meredith, who works as a financial advisor in Chicago, US, planned to renovate it and use it as a small getaway house - as she has an Italian citizenship.

But after investing a lot more money, time and love into the project, it's now become her dream destination.

Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'Meredith later spent thousands of pounds renovating the property (Meredith Tabbone / SWNS)

Meredith, 43, said: "The house was in very bad condition - but in many ways, it was everything I expected it to be and more.

"It had so much charm! It had such interesting architectural detail - you could really see the history coming through the walls. But it was a fixer-upper, to say the least.

"When we first saw the house - it was 750-square feet, it had no electricity, running water or windows - and it was thick with asbestos.

Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'The roof was thick with asbestos and looked very rundown (Meredith Tabbone / SWNS)
Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'She has transformed it into her dream vacation home in three years (Meredith Tabbone / SWNS)

"While we originally just wanted it as a tiny getaway - we've turned it into a dream home."

Meredith spent £661 hiring a team to remove the roof in an environmentally-safe way and then made the big decision to buy the empty home next-door for £27,000.

She knocked them together to create a 3,000sqft four-bed home - which cost her £210,000 over the duration of two years.

She installed doors, windows and walls - as well as burying electrical wires - to turn the building into a functioning home.

Mum films woman throwing poo and boiling water on her car in furious parking rowMum films woman throwing poo and boiling water on her car in furious parking row
Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'Meredith bought the property next-door for £27k and joined them together (Meredith Tabbone / SWNS)

"It's very large and intricate - there are four beds, four baths, an outdoor kitchen, a living and a dining area," she explained.

"We've also installed an upper terrace, lower terrace, spa and wine cellar - as well as a fireplace and a pizza oven."

She estimates her £230,000 investment in the original one-euro house will be worth £300-400,000 when all the work is completed in autumn 2023.

Woman buys abandoned 'one-euro house' and turns into dream home 'worth £400k'She has spent £230k but predicts it will be worth up to £400k when it's complete (Meredith Tabbone / SWNS)

Meredith plans to stay in the house part-time and calls it her "extended vacation home".

Inspired by her impressive renovation, she later bought two guest houses in the same village for £28,000 in total and another empty building for £58,000 - which she's turning into a gallery and café.

Her top tips for renovating abroad include: be patient, learn the local language if you can, and most importantly, have fun with it.

Have you renovated a rundown house? Get in touch. Email nia.dalton@reachplc.com.

Hannah Van De Peer

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