The Daily Telegraph - Saturday - The Telegraph Magazine
THE REAL COST OF YOUR €1 HOUSE
The requisite paperwork
Including notary fees and a compulsory draughtsman’s plan of the house, plus estate agent’s commission, ranges from €1,800-2,500.
The cost of renovation
This is obviously dependent on the condition of the house and the extent and ambition of refurbishment plans. Sicilian construction costs are significantly lower than in the UK. If no structural work is required, a rough minimum of €5,000 might cover the cost of rewiring and replumbing, as well as some basic remedial work in the kitchen and bathroom. More typically, making allowance for some roof repairs, full redecoration and a more extensive overhaul of kitchen and bathroom, the costs will range from €10-20,000.
If structural work is necessary – particularly to the foundations – you would be looking at up to €50,000 as a total refurbishment cost. But even what might seem like major works can be remedied at reasonable cost.
Architect fee for renovation works: €1,200-2,000.
Annual fixed costs Including local tax, water, electricity range from €350-500, depending on the size of the house.