Ohio native Lauren Scott, 29, had lived in Los Angeles for 10 years working as a freelancer within the movie trade, when she determined she was prepared to purchase a home. On the time, Scott lived in a studio condo and paid $1,175 in hire.
Scott began her search in 2019 and wished to remain beneath $400,000. However then the covid-19 pandemic hit in early 2020, and she or he discovered herself outbid each time she put in a proposal on properties within 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 sort of known as residence for such a very long time and that basically sucked,” Scott tells CNBC Make It.
Scott realized shopping for in California was near inconceivable, so she began trying in different states like Florida, the place her household lives. She rapidly realized she would not be capable to discover a job that will match her present way of life.
Scott was additionally upset within the high quality of life in the USA and set her sights on Mexico, Portugal and Italy as a result of all of them had climate just like California.
Scott discovered a two-bedroom, one-bath townhouse one hour outdoors of Florence.
Lauren Scott
The competition between locals and expats over rising housing prices, made Scott dismiss Mexico and Portugal fairly rapidly. So she centered on properties in Italy. She set a price range of $50,000 and did her home searching on-line.
“I did not fly over and acquired sight unseen, which I do not suggest,” Scott says. “I reached out to numerous brokers and simply ended up paying someone to do all of it 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 an enormous precedence for her.
“I did not wish to cope with a automobile since I am not there full time and simply being within 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 in the marketplace for 32,000 euros or $34,905 USD. The earlier proprietor instructed her the worth was set low as a result of the recent water boiler would wish repairs.
“She left it utterly furnished and simply wished to get out and transfer to a special a part of Italy however was having issues promoting the house,” Scott says. “I actually lucked out as a result of there’s nothing mistaken with it aside from needing to interchange that one a part of the house.”
Scott paid the total asking value of $34,905 and an extra 4,200 euros, or $4,581 USD, in closing prices.
Not eager to deplete her financial savings, Scott secured a $20,000 private mortgage from an area financial institution to assist buy the home, in accordance with paperwork reviewed by CNBC Make It.
Scott closed on the townhouse in August 2022 and flew to see it in particular person for the primary time that November and says when she first arrived, she was overcome with emotion.
“It was only a surreal feeling. I could not imagine I owned a house in my 20s as a result of I did not suppose this is able to ever occur. I believe I cried too,” Scott says.
The earlier proprietor instructed Scott the home’s value was set low as a result of the recent water boiler would wish repairs.
Lauren Scott
Scott’s unique plan for the home was to hire it out, however she realized she did not wish to cope with the problems that might come up with tenants or short-term renters.
“The price of simply having it empty would in all probability outweigh the price of renting it out and having someone break one thing,” she says. “I am sort of protecting over my home.”
Scott visits Italy twice a 12 months now and makes use of the townhouse as a trip residence, however she is presently attempting to safe a digital nomad visa to remain within the nation for some time. In 2024, Italy launched its “Visa for Distant Staff,” permitting a one-year residency with the choice to resume for extremely expert professionals to work remotely as workers or as self-employed freelancers.
“I am hoping in some unspecified time in the future throughout the subsequent 12 months I can formally transfer but when I find yourself staying within the States, I plan to make use of it as extra of a retirement plan as a result of I do know I am not going to have the ability to retire within the U.S.,” she says.
“I am pondering of it extra as a long-term funding to get out of the U.S. As a freelancer, it is truly regarding as a result of I do not all the time have well being care, I haven’t got a 401K and I can not afford to speculate, so I believe simply with the ability to know that I’ve one thing safe and a spot to name my very own for when I’m older is basically comforting.”
The view from the townhouse was a serious promoting level for Scott.
Lauren Scott
Scott says although she was excited to have the ability to purchase a home, the sensation was bittersweet as a result of she was solely ready to take action outdoors of the U.S. — the nation the place she was born and raised.
“It makes me unhappy as a result of what’s conserving me right here is my mother and father. I do not wish to transfer all internationally after which not be capable to see my household lots,” she says. “It is unhappy to know that my mother and father might purchase a house and my grandparents might, too, however with inflation, it isn’t as accessible for my era anymore. I do not suppose that is truthful to our era and those coming after us.”
Scott nonetheless lives in Los Angeles, now in a one-bedroom condo the place she pays $1,695 a month in hire, together with a parking area. She can also be nonetheless freelancing however has shifted to content material creation and social media work.
And although she’s attempting to determine simply how a lot time she’s going to spend in her Italy home, the one factor Scott is aware of for positive is that she has no plans on shopping for a house in America.
“It is a arduous no as a result of I believe having one property is a blessing, however something can occur,” she says. “I do not wish to utterly demolish my financial savings or go into debt to purchase a house right here, particularly with the state of the nation proper now.”
Conversions to USD had been achieved on March 20, 2025, utilizing OANDA conversion charges of 1 euro to 1.09 USD. All quantities are rounded to the closest greenback.
Wish to earn some more money on the facet? Take CNBC’s new on-line course The way to Begin a Aspect Hustle to study tricks to get began and techniques for achievement from prime facet hustle consultants. Join as we speak and use coupon code EARLYBIRD for an introductory low cost of 30% off $97 (+taxes and charges) by April 1, 2025.
Plus, join CNBC Make It is e-newsletter to get suggestions and methods for achievement at work, with cash and in life.
