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American family calls its quits on overpriced NYC, buys home in Italy for just $13K
New York Post • • business
Key Points:
- A family from New York City purchased a home in Italy's Abruzzo region for about $13,000, moving there permanently in 2023 to escape the high cost of living and housing in NYC.
- The move significantly lowered their living expenses, with preschool costing $70 per month and utilities like electricity and water far cheaper than in the US.
- They renovated the home with an additional $17,000 investment and also own a second property used as a rental generating around $1,100 monthly income.
- Professionally, the mother shifted from remote work with a US tech startup to a marketing role with an Italian travel company, valuing quality of life over higher income.
- The family embraces a slower pace of life in a small Italian town, appreciating homeownership's financial relief and the freedom to pursue more fulfilling work without the stress of NYC's housing market.
