Want to buy a $1 home in Italy? The best advice from 3 people who did it

For years now, people around the world have been captivated by Sicilian towns selling off abandoned homes starting at 1 euro, or roughly $1.08.

Several hundred homes have been sold to curious and ambitious renovators, includingMeredith Tabbone, 44, of Chicago. She learned in 2019 that a town called Sambuca di Sicilia was auctioning off homes starting with 1-euro bids.

"A lot of people warned me that it could be a scam [and that] I could end up losing a lot of money," she tells CNBC Make It.

Still, she took up the idea when she realized her great-grandfather was actually from Sambuca. She placed her bid on a home for 5,555 euros sight unseen and won, thus starting her on a four-year journey of renovations.

"From the moment that I sent in the bid and checked my email every day and found out that I won, all the way through this process, there have been 4 million moments of frustration, exhaustion, contemplation of how to move forward," she says.

Tabbone and other 1-euro homebuyers share their biggest pieces of advice to other aspiring renovators around the world.

Sicily's homes may start at 1 euro, but the cost is largely symbolic and just the start of more expenses down the line.

In Mussomeli, one of the most famous 1-euro towns, buyers must also pay a realtors fee of 500 euros and pay for the deed, which costs 2,800 euros. That adds up to a total of 3,301 euros, or nearly $3,600.

Rubia Daniels, 50, of Berkeley, Calif., bought three 1-euro homes in Mussomeli in 2019. So far, she's focused her efforts on renovating her main vacation home. She originally thought it would cost her $20,000 but has already spent $35,000 between materials, labor and furniture. She hopes to stay under $40,000.

Tabbone paid 5,555 euros for her home, plus