You're probably thinking, "Why is this city selling houses for only a dollar". That is what I was first thinking when I saw this article. To be fair the houses are being sold for 1 Euro which is about $1.11 USD. There is a catch though, you must renovate the property. These renovations could end up costing the buyer thousands. The reason for this 1 Euro house campaign is to help the city's economy bring the city into a tourism-led revival. Taranto is known for its large steel works, because of this the city has been under review for the large amounts of pollution the plants produce. It also has a large port that is used by some cruise ships. This is because weather in Taranto is balmy, which means it's like spring year-round. Click here to read the original article https://www.cnn.com/travel/article/italy-one-euro-home-taranto/index.html
1. Would you move to and buy one of these $1 houses? Why?
I would, because after renovations I would have maybe spent 10-20 thousand dollars, which is a lot less then buy a house around here.
2. If people do buy these houses, will they help with Taranto economy?
I believe that people moving into these houses should help just by bringing in more people. Also, with the money made for propery taxes.
Replies
Great job Cameron!
I would not because it would cost a lot to move there and to renovate the house and if you run out of money and can't finish the house what are you going to do after that not finish it and be stuck with only half of a no-renovated house. I think it would help the Toronto economy but I wouldn't waste my time renovating the houses.
I personally would not move to Taranto. I don't speak Italian, which would make it difficult for me to live there. Another reason for me is that I would not just move somewhere, to another country, because there is a good deal to buy a house.
I would not move to buy a house for one dollar. To me that just seems too sketchy. It would buy the house more likely if it was a reasonable price. I like this idea because I so think that this would help their economy majorly. Also this is making people move there because it is cheap and not of bad quality.
I would buy one of the houses because buying and renovating it for a couple of thousands of dollars is probably cheaper than getting an already renovated house in the same area. Buying the houses would improve their economy because all the renovating would be done by local businessses.
No I don't think I would move outa the country that would be to expencive to come home for hollidays and special things that my family plans. Of corse the houses will help Taranto's economy. The people that want to move there will bring more people and more and they will be drawn in cause the cost is so cheep. So I think it will help Tatanto out alot.
I like that you considered the fact about having to move out of the US and to Italy. The cost of the plane tickets to go back and forth between Italy and the US and Italy even twice a year, could end up with you spending over five thousand dollars pretty easily.
Mallory, I tryed looking into how many of the houses have been sold, but I could not find that number. I found that they are selling five houses for one Euro. This link can be used if you would like to look at the article I found that goes even more in depth then the one from CNN that I used to write the origanal story. https://www.thelocal.it/20200128/taranto-becomes-the-first-city-in-...
Yes becasue I would love a good chalnge of remodling a house and I think it is a good way to get more people to the contry. I think it will becasue alot of people will try and help the economy it will alwasy benifit with all the money that is being made on the property tax.
To me it would come down to what condition the house was in. I know that they have to be renovated, but some fixes are beyond resonable to do. If you buy one of those houses and tell them that you're going to renovate, you have to do what's nessecary, no matter how extreme. I would just be extemely careful and check as much as possible before purchasing. Over all though, it sounds like a great deal. You get to create your dream home for a dollar eleven (+ nessecary renovations) and Italy gets more tourists for their economy.
-
1
-
2
-
3
-
4
-
5
of 8 Next