Man who bought 3 storey house for 85p admits harsh realities of living there

A man who bought a three storey house for 85p has opened up about the harsh realities of living there.

When buying anything, most people are usually looking for a bargain to help them save money, but when it comes to property there is often a pretty big catch involved in a low price.

One man who decided to take the plunge anyway is George Laing, who realised he would need a hefty deposit of “at least £50,000” for a tiny flat in London.

As he hunted around for cheaper properties he “stumbled” across a town in Sicily that was selling off property for just one Euro (£0.85p) as part of a scheme.

In the town of Mussomeli, Laing purchased a “beautiful” derelict three storey home that had no running water or electricity. But, it had plenty of character, a marble staircase and vintage items left behind in the basement that he is currently auctioning off.

Speaking to The Times, Laing explained: “The freehold cost me €1. The agency fee cost about €500. Then, a couple of weeks later, I paid about €2,500 for the transfer of the deeds.

“After that there were fees for the energy certificate and floorplans, so all together it came to about €5,000 (£4,300). That money is going to get you bugger-all in London, not even a garage.”

But, one of the downsides of the home is the walk to reach it. Laing explained that to get to it from the UK, he first has to fly to Palermo before getting a train to the closest station.

Laing said: “From there I walk 10km up a 610m incline. It takes about two and a half hours. I’m greeted by donkeys, chased by dogs.”

“My biggest expense is plane tickets and hotels, on which I must have spent another £5,000 so far,” he added.

He is sharing the renovation project on Instagram and is doing everything from rewiring, replumbing and retiling himself by watching YouTube videos on how to do it.

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