by Dejan Pekic
Families Moving Overseas for Debt-Free Living
Posted by Dejan Pekic
A recent article on realestate.com.au* featured a young family who had made the major decision to permanently relocate to Italy with their children for a new home and debt-free living.
Krysti-Glory Gallo, an interior designer, and Ricardo Parata, an educator, had plans to sell the family home on the Gold Coast and move to the historic town of Lucca in Tuscany.
The article follows a 2025 survey of 1,020 young Australians by social housing provider Home in Place. The survey found 53% of respondents would consider moving overseas, while 16% said they definitely would. While the survey was small – and Australian emigration remains tiny compared to global percentages – it does reflect the desperation many young Australians feel about buying a home.
While the thought of life in a historic Tuscan town sounds idyllic, there are a few points to note. Mr Parata has Italian heritage, ensuring an easy citizenship transition. The couple also mentioned renovating houses and buying and selling businesses without the success they anticipated, which may reflect on their investment strategy. And they were able to buy an Italian home thanks to the profit made on their property, which they purchased in 2023 for $525,000, renovated, and are now looking to sell for about $1 million – a significant gain.
As we recently reported, a property market correction is taking place after decades of accelerating house prices. For some investors, property may remain a valid investment strategy, but there are other options if you have existing equity.
Have questions? We can provide tailored financial planning to help you gain clarity around your options. Why not contact us for a conversation.
*‘We can’t outrun it’: Family quits Australia for debt-free life in Italy
General Advice Warning:
The information in this blog is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether the information is appropriate for you and seek professional advice before making any financial decisions.
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