For many New Yorkers, the dream of homeownership feels increasingly out of reach. Cassandra Tresl and her husband faced this reality, unable to envision saving for a down payment in the city's exorbitant market. Their solution? A radical move across the Atlantic to the central Italian region of Abruzzo.
A New Start in Abruzzo
In 2023, the couple purchased a rural home in a tranquil Abruzzo village of just 1,300 residents for a mere $13,000 (approximately €11,500). This drastic step was a direct response to New York City's soaring cost of living. Tresl openly admitted, "I couldn't imagine realistically saving up for a down payment to buy a house somewhere in New York."
The initial purchase was just the beginning. The family invested another €15,000 into renovating the property, upgrading plumbing, furnishings, and interiors. Even after these significant improvements, the total expenditure remained a fraction of what a comparable home would cost in New York.
Dramatic Drop in Living Costs
Beyond the affordable housing, the move to Italy brought a substantial reduction in daily living expenses. The couple reported preschool costs around $70 per month, electricity bills averaging $170, and water bills at approximately $80. Groceries and internet services also proved considerably cheaper than in the United States.
These savings have allowed the family to thrive financially. They were able to acquire a second property in Italy for about $20,000. After renovating it, they transformed it into a rental home, now generating roughly $1,100 in monthly income, providing a valuable additional revenue stream.
Improved Work-Life Balance
Professionally, Tresl initially continued working remotely for a US-based technology startup. She later transitioned to a marketing role with an Italian travel company. While her current income is less than what she earned in New York, she emphasizes the profound improvement in her work-life balance.
"I definitely make less now than compared to working for a New York-based company, but my time is much better spent," she stated, reflecting on the trade-off.
Looking back, Tresl expresses no desire to return permanently to the US. Being debt-free and owning their home outright has provided a level of financial security and peace of mind that was unattainable in their former life. The family was drawn to Abruzzo's slower pace, close-knit community, and authentic Italian culture, which they now fully embrace.