You can buy a home in France or Italy for 'the price of a new truck'—but take these 3 steps before retiring abroad

What started as a fun side project for Tommy Sikes has become a big part of his business.

With the youngest of his three children about to enter law school, Sikes began thinking about the next chapter for him and his wife — namely, the ever-more popular possibility of spending at least part of their retirement in Europe.

"We had this looming empty nest. We love Italy and France and started thinking, 'What's our next step?'" he tells CNBC Make It. "How can we make this more of a reality?"

Sikes started researching properties across the Atlantic, focusing on inexpensive locales away from the major cities where he and his wife could pursue their outdoorsy hobbies, such as hiking and kayaking.

When he began sharing the properties he found online, Sikes, a certified financial planner, found a new base of potential clients who were excited about the prospect of owning property abroad but unaware of how to go about it.

These days, Sikes sends properties to some 25,000 followers and subscribers across X, YouTube and via a weekly newsletter. He understands the allure of the lifestyle such homes can afford people.

"I started discovering these incredible properties that were for sale in smaller towns and villages for $50,000, $75,000, $100,000. And I was I was shocked," he says. "Some of them are fixer uppers, but that's the price of a new truck here in the United States."

Still, Sikes is careful to warn subscribers and clients against buying such a property on a whim — even if they think they can afford it.

"There seems to be a gap in this kind of planning — specifically for Americans who need to do financial planning upfront to make sure this is feasible."

Here are three steps Sikes says you need to take before you buy a property abroad.

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