An NYC family bought a home in Italy for $13K instead of returning home because it's 'OK to slow down'. Here’s what to know before moving abroad

The median American home price sits around $357,445, according to Zillow (1). Child care can add another major expense, with 47% of parents spending more than $1,500 a month (or over $18,000 a year), according to the 2024 Cost of Care report (2).

Looking at those costs, the couple began considering a different option: building their life in Italy instead.

“I really thought that if I had a kid, I would go back to the States. ... And then it ended up not happening, because I realized how much more expensive it would be if we did go back,” Tresl told CNBC Make It (3).

For many Americans, that realization is becoming more common. Rising housing costs, child care and grocery bills are forcing families to rethink what “going home” means financially.

From New York to Italy

The couple previously lived in New York City, where Tresl worked in operations at a tech firm and Ninman was a butcher at Whole Foods. Although living in the city had been a shared dream, Tresl began to question whether the lifestyle truly suited them.

“If we were going to stay in New York, I would have to continue growing my career,” she says.

Although Tresl said she liked her job, she didn’t see herself advancing in the field or networking as much as her peers. That shift in perspective led Tresl to request working remotely, giving the couple the flexibility to live abroad.

Their decision reflects a broader trend among Americans considering life overseas.

About 5.5 million Americans currently live abroad, according to the Association of American Residents (4).

Interest in leaving the U.S. is also growing. In a 2024 survey by relocation tour company Expatsi, 41% of Americans who explored moving abroad said saving money was a motivator (5). Italy ranked among the five most desirable destinations (6).

Once Ninman and Tresl decided to move, the couple began house hunting with a strict budget of about $23,600. Tresl tracked potential properties in a spreadsheet while comparing homes in Abruzzo and Tuscany, ultimately finding better value in Abruzzo.

They purchased a two-floor, two-bedroom home just under 1,076 square feet, drawn to both the price and the terrace views. In February 2022, they closed on the property in a cash deal for €11,500, about $13,150 at the time, according to documents reviewed by CNBC Make It. The couple moved in that July and spent roughly $18,000 renovating the home.

Purchasing their home outright became one of the biggest advantages of the move.

“If my income fluctuates or money gets tight, at least we don’t have a mortgage and our family has a secure roof over our heads. This financial freedom was actually one of the main factors that made this move and decision possible,” Tresl says.

The family spends about $1,246 per month covering living costs in Italy, including groceries, utilities, internet and activities for their daughter. Groceries make up the largest share at roughly €480 a month, while other expenses like preschool and utilities remain relatively modest.

What to consider before moving abroad

Living overseas can lower certain expenses, but relocating can also reshape your financial picture. Levi Rodgers, owner of LRG Realty in San Antonio, Texas, told Moneywise that one of the biggest surprises for American expatriates is that a lower cost of living doesn’t mean lower overall costs. Expenses such as private healthcare, insurance, international banking fees, currency exchange and U.S. tax obligations can add up quickly.

“Another challenge is dealing with the assets that stay back in the States,” Rodgers said. “For many American expatriates, there is property to be dealt with, a mortgage to be paid off, or a retirement savings situation to be managed.”

There are ​​several factors to consider before making a big move. Many people who relocate abroad rely on remote work, freelance income or savings, so confirming whether your employer allows international remote work and whether your income will remain stable is an important first step.