
Meredith Tabbone lives in Chicago, however for the final 5 years, she’s spent numerous hours and almost half one million {dollars} to construct her dream residence in Italy.
It began in early 2019 when Tabbone discovered a couple of city in Italy, Sambuca di Sicilia, that was auctioning off deserted properties beginning at 1 euro, or roughly $1.05.
On the identical time, Tabbone, who works as a monetary advisor, was deep into researching her household historical past. She had simply traced her great-grandfather again to the identical Sicilian city earlier than he began a brand new life in America.
The coincidence was “too good to be true,” and she or he took it as an indication to position a bid.
A number of months later, Tabbone grew to become the proprietor of the 1-euro residence. She additionally purchased the constructing subsequent door and started working managing a neighborhood crew on the huge renovation.
At present, Tabbone, 45, makes use of her Sicily property as a trip getaway, and she or he says it seems like a major residence. The house consists of two major bedrooms, two visitor bedrooms, a kitchen with trendy finishes, a big eating room with a gallery wall of images, a library, a lounge, a dry-heat sauna and two terraces, together with one with a pizza oven and out of doors eating space.
In all, she spent roughly $475,000 on her Italian dream residence.
Meredith Tabbone spent roughly $475,000 on her dream residence in Sambuca di Sicilia.
Mickey Todiwala | CNBC Make It
The fee breakdown
Whereas bids for the Sicilian properties began at 1 euro, Tabbone positioned a bid of 5,555 euros for her constructing. With taxes and costs, she spent 5,900 euros (roughly $6,200) to take possession of the property.
She visited her new residence for the primary time in June 2019. The situation of the property was “dire at greatest,” Tabbone tells CNBC Make It: no electrical energy, no operating water, asbestos within the roof and “in all probability two ft of pigeon poop on the ground.”
Meredith Tabbone bid 5,555 euros on a house, sight unseen, in Sambuca, Sicily, in 2019.
Courtesy of Meredith Tabbone
After seeing the area, she additionally purchased the vacant residence subsequent door via a personal sale with the proprietor for 22,000 euros (simply over $23,000).
Combining the 2 properties meant an even bigger renovation finances: Tabbone initially deliberate to spend 40,000 euros to renovate 620 sq. ft, however that grew to 140,000 euros to cowl 2,700 sq. ft.
After visiting her authentic 1-euro residence, Meredith Tabbone purchased the constructing subsequent door for 22,000 euros to mix and create her dream trip residence.
Courtesy of Meredith Tabbone
By the tip of her renovation in October 2023, she spent roughly 425,000 euros, or $446,000. As a result of the mission was delayed by the pandemic and unfold out over a number of years, she was capable of pay for it throughout time with out taking out loans.
Easy, however vital
Tabbone’s objective together with her Sicilian property was to construct a trip residence the place she may additionally host visiting family and friends.
To begin, Tabbone’s renovation workforce made structural modifications like breaking down a number of partitions to open up widespread areas, leveling the flooring throughout the 2 buildings, including metal beams to guard in opposition to earthquakes, and including two terraces.
Meredith Tabbone’s residence mixes modern finishes with the house’s authentic options, like archways and a trough within the kitchen.
Mickey Todiwala | CNBC Make It
Meredith Tabbone knocked down a number of partitions to open up her kitchen, eating and dwelling areas. She plans to make use of her trip residence to entertain native associates and fellow vacationers.
Mickey Todiwala | CNBC Make It
It was Tabbone’s first renovation mission ever. She was impressed by her father, who was an architect and died when she was 15. She now calls the house Casa dell’Architetto in his honor.
Tabbone says her imaginative and prescient was to design an area that’s “easy, however vital,” in a nod to “Mad Males'” character Don Draper.
The completed mission is “a thousand occasions higher” than her authentic imaginative and prescient, she says. “It is trendy, but it surely’s nonetheless cozy. And it actually showcases the entire greatest options that have been already within the residence,” like authentic archways, a trough within the kitchen and a novel staircase.
Meredith Tabbone completed renovations in late 2023 and plans to spend 4 months out of the yr in Sambuca.
Mickey Todiwala | CNBC Make It
Now that her house is full, Tabbone plans to spend 4 months out of the yr in Sicily. She additionally makes use of it as a gathering area to host dinner events with associates she’s made in Sambuca.
“It is a tremendous group” of expats and locals, she says.
Meredith Tabbone says she’s by no means completed a renovation mission like this earlier than, however she was impressed by the work of her father, who was an architect.
Mickey Todiwala | CNBC Make It
Certainly one of Meredith Tabbone’s favourite options in her Sicily dream house is a dry-heat sauna in one of many visitor bedrooms.
Mickey Todiwala | CNBC Make It
A bridge between previous and future
Tabbone says her Sambuca property is greater than a trip spot. “What this residence actually means for me is a bridge between my previous and my future,” she says. “It was an opportunity to actually reconnect with my father’s lineage. But it surely additionally speaks to my future as a result of it is one thing that I’ve created for myself … the place I can suppose extra about having fun with my life and having a greater work-life stability.”
Tabbone does not plan to promote the home and has already promised it to a cousin if she passes away first. “After that, it’ll be donated to the village,” Tabbone says.
Meredith Tabbone is from Chicago and discovered about Sambuca di Sicilia’s 1-euro residence public sale in 2019.
Mickey Todiwala | CNBC Make It
Although Tabbone splurged on her residence away from residence, she says what she’s gained from the expertise is invaluable.
“There’s an actual sense of group right here, so I undoubtedly suppose persons are very completely satisfied right here,” she says. Plus, “I’ve began to suppose otherwise about how I am constructing my enterprise, and possibly not having the main target of my life be about work, [but] about simply private achievement normally,” she says.
Meredith Tabbone has made shut associates with locals and fellow foreigners in Sicily.
Mickey Todiwala | CNBC Make It
General, she provides, she feels it is “necessary to protect previous buildings like this” that may’t be recreated with trendy supplies or constructing sensibilities. “The eye to element, the standard of the gadgets, the flexibility for these buildings to final for hundreds of years. It is simply not completed anymore,” she says.
Conversions from EUR to USD have been completed utilizing the OANDA conversion fee of 1 EUR to 1.05 USD on Oct 18, 2023. All quantities are rounded to the closest greenback.
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