Explore the abandoned apartment in Italy where this couple resides.

In 2020, Kristina Knighten and her husband, Paul Cordier, purchased their dream home in Lago d'Iseo, Italy.

At the time, they purchased the two-bedroom house for 23,000 euros, which is equivalent to $24,973.

"Knighten described the house to CNBC Make It as resembling a childhood drawing with a pitched roof, central door, and two upstairs windows. The house was adorable and located near the train and lake, making it seem almost too good to be true."

In March of this year, the couple commenced renovations on their home, which included a new roof, and estimated the total cost to be approximately 100,000 euros or $108,578.

Knighten says, "We were making good progress, but unfortunately, our costs increased by 25%."

If my husband can provide the labor, then maybe we'll get this over the line because labor is the biggest cost when we looked at the invoices.

The couple had hoped to move into their new home before the end of their rental lease, but they were not ready and had to quickly find new housing.

While Cordier's sister was preparing to purchase a house in Italy, Cordier was preparing to close on his own home.

Knighten says that they had been keeping an eye on properties for her since she wants to eventually relocate here as well.

"Fortunately, she was fond of the apartment located opposite our house."

Cordier's sister, who resides in Bangkok, purchased the apartment in Italy with the help of Cordier, who acted as her power of attorney. The property was bought for 39,000 euros, or $42,604, and the couple moved in.

Since 2002, the apartment had not been occupied as a primary residence. The property's previous owners, who inherited it, occasionally utilized it as a vacation home.

The couple discovered a calendar from 2006, a chest of drawers from the 1920s, old photographs of a competition the town used to host, and old bowls with recipes hand-painted on them.

"Knighten describes the building as being heavily dusty and musty, requiring a significant amount of paint and with crumbling plaster on the walls. Despite having electricity turned on, the building still needed to be made safe due to its age."

We refer to it as glamping, Knighten says. For example, the bathroom is an outhouse, with a toilet, shower, and tile.

To reach the two bedrooms on the second floor, you must climb an external staircase from the ground floor, which has an open living room and kitchen. The bedrooms are railroad-style, meaning that the couple must pass through one room to access the other and return to the common areas.

The couple's house lacks a backyard overlooking the lake, but this apartment has it.

"Knighten says, "If this had been available when we purchased our home, we would have opted for it instead." "Our house lacks an outdoor area, so we often go out and enjoy a glass of wine. It's quite pleasant.""

Cordier's sister plans to renovate the old apartment in two years and is not charging the couple rent. In return, they are fixing up the property as much as they can.

Knighten says, "We cleaned the backyard, furniture, and painted the walls to make it nicer while we're here."

Knighten and Cordier are hopeful to be relocated into their house by Christmas, but they are grateful for the current living space as a backup plan.

"Knighten explains that they are in a fortunate position to remain in the current location for an extended period without any cost, although it is not ideal. They acknowledge that they may have to go outside to relieve themselves during winter, but they will make do."

On August 13, 2024, OANDA conversion rates were used to convert euros to USD on August 13, 2024. All amounts are rounded to the nearest dollar.

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