Ohio native Lauren Scott, 29, had lived in Los Angeles for 10 years working as a freelancer in the movie business, when she determined she was prepared to purchase a house. At the time, Scott lived in a studio house and paid $1,175 in lease.
Scott began her search in 2019 and needed to keep beneath $400,000. However then the covid-19 pandemic hit in early 2020, and she discovered herself outbid each time she put in a suggestion on houses in the metropolis.
“I did not suppose I used to be ever going to have the ability to purchase in California, a lot much less Los Angeles, which is someplace I’ve form of referred to as dwelling for such a very long time and that basically sucked,” Scott tells CNBC Make It.
Scott realized shopping for in California was shut to unimaginable, so she began wanting in different states like Florida, the place her household lives. She rapidly realized she would not have the ability to discover a job that might match her present life-style.
Scott was additionally disenchanted in the high quality of life in the United States and set her sights on Mexico, Portugal and Italy as a result of all of them had climate related to California.
Scott discovered a two-bedroom, one-bath townhouse one hour outdoors of Florence.
Lauren Scott
The rivalry between locals and expats over rising housing prices, made Scott dismiss Mexico and Portugal fairly rapidly. So she targeted on properties in Italy. She set a finances of $50,000 and did her house searching on-line.
“I did not fly over and bought sight unseen, which I do not suggest,” Scott says. “I reached out to a lot of brokers and simply ended up paying someone to do it all for me.”
After a number of weeks of looking, Scott discovered a two-bedroom, one-bath townhouse one hour outdoors of Florence. She might stroll and use public transportation, which was a huge precedence for her.
“I did not need to take care of a automotive since I am not there full time and simply being in the mountains and having that view made me really feel tremendous at peace,” Scott says.
The townhouse was listed for 32,000 euros.
Lauren Scott
The townhouse had been on the marketplace for 32,000 euros or $34,905 USD. The earlier proprietor instructed her the value was set low as a result of the scorching water boiler would want repairs.
“She left it fully furnished and simply needed to get out and transfer to a completely different a part of Italy however was having issues promoting the dwelling,” Scott says. “I actually lucked out as a result of there’s nothing improper with it apart from needing to change that one a part of the dwelling.”
Scott paid the full asking value of $34,905 and a further 4,200 euros, or $4,581 USD, in closing prices.
Not wanting to deplete her financial savings, Scott secured a $20,000 private mortgage from a native financial institution to assist buy the house, in accordance to paperwork reviewed by CNBC Make It.
Scott closed on the townhouse in August 2022 and flew to see it in particular person for the first time that November and says when she first arrived, she was overcome with emotion.
“It was simply a surreal feeling. I couldn’t consider I owned a dwelling in my 20s as a result of I did not suppose this may ever occur. I believe I cried too,” Scott says.
The earlier proprietor instructed Scott the house’s value was set low as a result of the scorching water boiler would want repairs.
Lauren Scott
Scott’s unique plan for the house was to lease it out, however she realized she did not need to take care of the points that might come up with tenants or short-term renters.
“The price of simply having it empty would most likely outweigh the price of renting it out and having someone break one thing,” she says. “I am form of protecting over my house.”
Scott visits Italy twice a yr now and makes use of the townhouse as a trip dwelling, however she is presently making an attempt to safe a digital nomad visa to keep in the nation for a whereas. In 2024, Italy launched its “Visa for Distant Employees,” permitting a one-year residency with the choice to renew for extremely expert professionals to work remotely as workers or as self-employed freelancers.
“I am hoping sooner or later inside the subsequent yr I can formally transfer but when I find yourself staying in the States, I plan to use it as extra of a retirement plan as a result of I do know I am not going to have the ability to retire in the U.S.,” she says.
“I am considering of it extra as a long-term funding to get out of the U.S. As a freelancer, it’s really regarding as a result of I do not at all times have well being care, I haven’t got a 401K and I am unable to afford to make investments, so I believe simply having the ability to know that I’ve one thing safe and a place to name my very own for when I’m older is basically comforting.”
The view from the townhouse was a main promoting level for Scott.
Lauren Scott
Scott says although she was excited to have the ability to purchase a house, the feeling was bittersweet as a result of she was solely in a position to do so outdoors of the U.S. — the nation the place she was born and raised.
“It makes me unhappy as a result of what’s preserving me right here is my mother and father. I do not need to transfer all throughout the world after which not have the ability to see my household a lot,” she says. “It is unhappy to know that my mother and father might purchase a dwelling and my grandparents might, too, however with inflation, it’s not as accessible for my era anymore. I do not suppose that is truthful to our era and the ones coming after us.”
Scott nonetheless lives in Los Angeles, now in a one-bedroom house the place she pays $1,695 a month in lease, together with a parking house. She can also be nonetheless freelancing however has shifted to content material creation and social media work.
And although she’s making an attempt to determine simply how a lot time she will spend in her Italy house, the one factor Scott is aware of for positive is that she has no plans on shopping for a dwelling in America.
“It is a exhausting no as a result of I believe having one property is a blessing, however something can occur,” she says. “I do not need to fully demolish my financial savings or go into debt to purchase a dwelling right here, particularly with the state of the nation proper now.”
Conversions to USD had been finished on March 20, 2025, utilizing OANDA conversion charges of 1 euro to 1.09 USD. All quantities are rounded to the nearest greenback.
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