The world's cheapest house? (Only $1.00)

What's up you guys? It's Graham here! So we did it! Big news here, we finally did it! Even with the stock market losing value, with crypto prices just going to what people are claiming, they can't save up enough money to put a down payment in on real estate, where people just claim real estate is not accessible to the average person.

No, you have no more excuses! I had the solution; we did it! I figured it out! Now you could own real estate for the low price of $1! Whoa! You too can invest in real estate in a picturesque historic Italian village known for its fine wines, fine cheeses, and clean beaches for less than the price of a medium McDonald's soft drink.

But, as with anything that sounds too good to be true, there's a really small catch. These homes are being sold in a small Italian village off the Mediterranean coast of Sardinia. This area boasts zero smog, clean beaches, low crime—seems like quite the bargain for only $1! Well, kind of.

The reason why is that the population of this island has been dwindling lately, going from about 2,200 people down to about 1,300 people, with much of the younger population moving away to more populated cities. This leaves a lot of middle-aged, childless couples left on the island and not enough people there to keep it going.

So this leaves a small town of a little eye—or a little eye. I didn't even know how you say that word! Oh, a little eye or a little eye. I don't even, I, as Sam! But it leaves that small town with a plethora of abandoned buildings and disrepair, and the entire village is at risk of becoming a ghost town.

So they came up with quite the solution, and that was to sell off their abandoned real estate for the low price of $1 in hopes of bringing in investment money, people, and slowly revitalizing the economy. But, in order to actually buy one of these properties for less than the price of an avocado, there are a few small conditions that you have to meet.

The first condition is that you have to begin restoring the property within the first 12 months of you taking ownership of it. The second condition is that you have to agree to finish the renovations within three years of purchasing a property. And the third condition is that you have to agree not to sell the property for a period of five years.

Now, many of these homes are stone-built from the natural granite of the hillside, and they're also over 200 years old. So, unfortunately, this means there are no Gagen alop Lyons's, recessed lighting, and heated floors. Now they're estimating the cost of these renovations to be somewhere between twenty-five thousand and thirty-five thousand dollars, but it could be a little bit more depending on how extensive you want to go and exactly what you want to do with it.

Now, overall, it actually seems like a pretty decent deal if you're looking for a vacation property that's just away from all the hustle of the city life. Now, what we don't really know about their rental rules and regulations, this could actually be a great opportunity to pick up a short-term furnished vacation rental for the all-in price of less than a Toyota Prius.

However, you know what they say: if something sounds too good to be true! And that is, you're buying a property in a very poor village town, which means that it is a poor village town. That means there's almost non-existent business and trade on this island. There's also not much to do on this island, there's very little else that would bring in business, people, money, investment besides just offering one dollar homes.

There's also still a very traditional way of life on this island, meaning that shepherds are still herding goats and making cheeses. Artisans are still making woven baskets, and there isn't an In-N-Out, there isn't a Subway, there are no Apple stores there! What are we gonna do?

And also because it's so far removed from the mainland, even getting to the island poses its own challenges. So that means bringing in materials is going to be difficult in and of itself and probably going to be a little bit more expensive than if you were to do this anywhere else. And also, because it's such a small town, I doubt anybody's really speaking English, which means that you would have to speak Italian! And I'm not even sure if it's like a new Italian; it's probably some old type of dialect Italian.

But realistically, with all that said, this could actually be a pretty good deal for someone who doesn't mind that sort of village life and wants something peaceful, far removed from everything else. And if you're cool with that, this could actually be quite a steal!

Frankly, I think we're gonna start to see more money and more investment move into less populated, smaller areas as we see the bigger tourist spots just get overpopulated and lose their authenticity. So long term, I believe these small areas that haven't gotten much attention in the past are gonna see a lot of potential going forward.

Overall, I think it's quite a smart gimmick to revitalize the local economy, and frankly, it's working! However, I don't think it's gonna quite end right there because going forward, the village is still gonna need to sustain itself. As the former original population dwindles over time, it's gonna be up to the investors to decide what they want to do with that area and how they want to proceed forward.

At some point, there's gonna need to be some sort of major investment in the area to be modernized, otherwise it's at significant risk of just becoming an abandoned tourist destination. After all, every tourist destination needs a Starbucks and a PF Changs to be official!

But if it—when that actually happens, you can be one of these people in line at Starbucks that can say that you bought your property for less than the price of a single shot of espresso!

So, with that said, you guys, I really hope you enjoyed this and found this entertaining. If you haven't subscribed already and you enjoy these types of videos, you want to see more videos coming up in the future, make sure to smash that subscribe button!

And then also, while you’re smashing the subscribe button, make sure to smash that notification bell so YouTube notifies you when I upload videos in the future, so you don't miss out on that!

Also, feel free to add me on Snapchat and Instagram; posts are pretty much daily! So if you want to be a part of it there, feel free to add me there.

And then finally, if you're interested in real estate, I set up a private Facebook group for anybody interested in real estate, real estate investing, working as a real estate agent, anything involving real estate. The link is in the description; make sure to check that out!

It's a great community; we have over 2,000 people in the group right now! Everyone's super supportive and awesome and epic! Love each and every one of you in the group, so make sure you add yourself to that group on Facebook.

Again, thank you for watching, and until next time!