I purchased one of Sicily's renowned $1 homes and invested $446K in renovations—explore the interior.

For the past five years, Meredith Tabbone has devoted countless hours and nearly half a million dollars to constructing her dream home in Italy, despite residing in Chicago.

In early 2019, Tabbone discovered that Sambuca di Sicilia, an Italian town, was selling off abandoned properties for as little as 1 euro, which is equivalent to about $1.05.

Tabbone, a financial advisor, was engrossed in researching her family history. She had recently traced her great-grandfather back to the same Sicilian town before he migrated to America.

She took the coincidence as a sign to place a bid because it was "too good to be true."

Tabbone bought the building next door and managed a local crew on the massive renovation of her 1-euro home a few months later.

Tabbone, 45, utilizes her Sicily property as a vacation retreat and considers it her primary residence. The home boasts two primary bedrooms, two guest bedrooms, a modern kitchen, a large dining room with a gallery wall of photography, a library, a living room, a dry-heat sauna, and two terraces, including one with a pizza oven and outdoor dining area.

In all, she spent roughly $475,000 on her Italian dream home.

The cost breakdown

Tabbone spent $6,200 to acquire her building in Sicily, despite bids starting at just 1 euro.

In June 2019, she saw her new home for the first time and found it in a "dire" condition, with no electricity, no running water, asbestos in the roof, and "probably two feet of pigeon poop on the floor," according to Tabbone.

She bought the vacant home next door through a private sale with the owner for 22,000 euros (just over $23,000) after seeing the space.

The renovation budget for Tabbone increased from 40,000 euros to 140,000 euros as the scope of the project expanded from 620 square feet to 2,700 square feet.

She spent approximately 425,000 euros, or $446,000, on her renovation project, which was delayed by the pandemic and spanned several years. As a result, she was able to pay for the project in installments without taking out loans.

Simple, but significant

Tabbone aimed to construct a vacation home on her Sicilian property that could accommodate her guests as well.

Tabbone's renovation team undertook structural changes, including tearing down walls to create communal spaces, smoothing out floors between the two buildings, installing earthquake-resistant steel beams, and adding two terraces.

Tabbone's first renovation project was inspired by her father, an architect who passed away when she was 15. In his memory, she named the home Casa dell'Architetto.

Tabbone aimed to create a space that was both uncomplicated and meaningful, drawing inspiration from the character Don Draper of "Mad Men."

The completed project is now "a thousand times better" than her initial concept, she declares. "It's contemporary yet comfortable. It highlights all the best aspects of the home, including the original archways, trough in the kitchen, and distinctive staircase," she remarks.

Tabbone intends to spend four months annually in Sicily, utilizing her completed home as a social hub to host dinner parties with her Sambuca friends.

She describes the community as a remarkable blend of expats and locals.

A bridge between past and future

Tabbone views her Sambuca property as more than just a vacation spot. For her, it represents a connection to her father's lineage and a chance to reflect on her future. She sees it as a creation that allows her to focus on enjoying life and achieving a better work-life balance.

Tabbone has promised the house to a cousin if she passes away first and plans to donate it to the village after that.

Despite her extravagance on her vacation home, Tabbone claims the benefits she obtained from the experience are priceless.

She says, "The community here is strong, and I believe people are content. Additionally, I've been rethinking my approach to business and considering prioritizing personal fulfillment over work-related success."

She emphasizes the importance of preserving old buildings like this one, which cannot be replicated with modern materials or contemporary building techniques. She highlights the intricate attention to detail, the exceptional quality of the materials, and the durability of these structures, which are no longer being constructed in the same manner.

Using the OANDA conversion rate of 1 EUR to 1.05 USD on Oct 18, 2023, all amounts were rounded to the nearest dollar.

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