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Chicago woman's $1 Italian home purchase may seem like a dream come true, but it was far from easy. Meredith Tabbone, a financial advisor, stumbled upon an abandoned home being auctioned off for 1 euro (about $1.05) in the Sicilian village of Sambuca di Sicilia while researching her family history.
The coincidence that she had just traced her great-grandfather back to the same town was too much to ignore. Despite the risks, Tabbone took it as a sign and placed a bid, even though buying a property sight unseen sounded "too good to be true." She won the auction at about $6,200.
The home's condition was dire, with no electricity or running water, uneven flooring, an asbestos roof, and pigeon droppings everywhere. But Tabbone wasn't deterred. She saw potential in the original stone wall and the dry-heat sauna that had been added.
As she fell in love with Sambuca, Tabbone decided to buy a neighboring house for about $23,000, which shared a wall with her original home. This decision significantly increased her renovation budget, which ultimately reached $446,000 over three years.
Tabbone hired a team of contractors to do the work, while she focused on designing the space. She was inspired by her architect father, who had passed away when she was 15. The renovated homes now have four bedrooms and 4.5 bathrooms in 2,700 square feet.
The renovation process was not without its challenges, including delays due to the COVID-19 pandemic. However, these setbacks turned out to be advantageous for Tabbone, as they allowed her to avoid dipping into savings.
Despite the difficulties, Tabbone is thrilled with the result and now wants to spend four months of the year in Sambuca. If she could do it again, she would have learned to be more patient at the beginning of the process, enjoying the journey rather than rushing to complete it quickly.
