From historic mansions to European castles for $1!!!
Here are 10 amazingly cheap homes!!
10.
Homes in Gary, Indiana ($1)
With people moving to larger cities and away from rural communities, homes and neighborhoods
get run down and in urgent need of repair.
Local authorities have to come up with creative solutions on how to deal with this, but Gary,
Indiana, came up with a radical idea- they would make homes available to buy for only
one dollar!
Of course, there were some stipulations to this cheap and attractive price, though.
In total there were 11 houses on offer as a part of the City of Gary’s Dollar Home
Program, and they were only available to certain people.
To apply, you had to pay a 25 dollar application fee, and you had to have a minimum income
of $35,250 a year.
Furthermore, successful applicants had to commit to living in the home for at least
5 years before receiving full ownership, and to renovate the homes to set standards.
That’s commitment right there, but for some people this would be totally worth it!!
This included fixing code violations on the exterior of the structure within 180 days,
and improving the interior to habitable standards within 365 days.
The rules give an idea of how run down these homes were, and how much work and investment
was needed but, after 5 years, applicants had the opportunity to get a home for themselves
at a fraction of the cost of a normal house.
If you can make repairs and are willing to move, keep an eye out for these deals because
they are pretty awesome!!
9.
Italian Village Home ($54/month)
If you’ve always wanted to move to Europe amongst the glorious mountains of Italy, then
you missed out on a great offer that was made by the village of Bormida in 2017.
After population numbers started falling, the mayor wanted to encourage new people to
come the area.
You don’t want your town to die!!
So he started a scheme that made houses very affordable.
They would give anyone who moved there, under the program, a lump sum payment of 2,170 dollars,
and discounted accommodation for 50 euros, which is about 54 dollars, per month.
Larger properties were also available for 120 euros, or 130 dollars, per month, and
these rates were for as long as the residents stayed.
Because who doesn’t want to live in Italia for awhile??
Unsurprisingly, there was a lot of interest in the offer, and it was eventually withdrawn
by the village because of the influx of applicants.
It’s not clear how many people have moved there because of this program, but I bet they’ve
never looked back!
Even if you missed out on this deal, there is more to come!!
Don’t worry, you can still get your Italian Adventure!!
8.
Homes in Stoke, UK (£1)
Homes in the UK sell for an average of 180,000 pounds, which is the equivalent to about 230,000
dollars, and are notoriously difficult to purchase for large amounts of people in the
country.
That’s why, when special offers are made available, there’s huge interest and they
go in no time at all.
In 2015, the town of Stoke, which is about 160 miles away from London, did just that-
and offered 33 homes for sale at just 1 pound, or 1 dollar and 30 cents.
This, like other schemes, was designed to encourage new people to the area and to renovate
the homes, so things didn’t get more and more run down.
There were a few conditions attached- the main being that it required taking out a 30,000
pounds low-interest loan, and the commitment to live there for at least 5 years before
selling.
Purchasers also had to be in full-time employment, and be first time buyers- something that both
helps people onto the property ladder, and prevents property developers from buying and
then ‘flipping' them.
It may not be the dream location for most, but with such low prices it was a program
that made homeownership a possibility for people who couldn't dream of it before, and
the program was such a success that it's been replicated around the country a number of
times since.
So keep an eye out!!!
7.
Czech Castle ($13,000)
If a house is too low-key for you, and you'd rather snap up a castle for a bargain, then
there was an offer in 2016 that would have been perfect- in the Czech Republic.
It's a country known for its opulent architecture, and this opportunity was amazing.
The Libejovice chateau, a stunning mustard-colored Renaissance palace, was put on the market
for just 13,000 dollars.
It's only a 2-hour drive from the country’s capital, Prague, and has the potential to
be something fantastic.
I say potential- because there was a catch with this property- it was in serious need
of repair.
Some estimates suggested the renovation costs alone could be as much as 10 times the purchase
price, but even for 150,000 dollars, this has got to be one of the most affordable castles
in the world!
6.
Japanese Home ($0)
According to a report in 2013, there were more than 8 million unoccupied homes across
Japan.
This is a surprise for a country that's so densely populated, but people tend to live
in the cities- leaving some rural areas feeling desolate and abandoned.
Still, in Tokyo itself it was estimated that 1 in 10 homes were empty, which is far more
than the rates seen in New York or London.
The main reason is thought to be changes in demographics- the younger generations aren't
having families as early as they used to and don’t seem to be in a rush to purchase larger
homes from the elderly.
To combat this, authorities have been taking control of homes, and offering some of them
to buyers for free, and others for very, very cheap.
Of course, there’s some work needed on each of the properties, but if you want a home
in the Land of the Rising Sun, you really can’t go wrong at these prices!
5.
An Italian Castle (0$)
See, you can still have your Italian Villa!!
Throughout history, large numbers of castles, farmhouses, and monasteries were built across
Italy- but now there's not such an interest in keeping them maintained.
It's a shame because they are integral to the character of the landscape, so the authorities
came up with a plan to rescue them.
They made 103 ancient buildings available to new owners for close to nothing- on the
condition that they turned them into local tourist destinations.
The intent was to transform the facilities and create routes for pilgrims, hikers, tourists,
and cyclists, and breathe some life into the run-down areas.
So they may be free, or only cost a dollar, but you do have to put money into them.
Depending on how successful this program is, there are another 200 properties earmarked
for inclusion- so if the idea of running a tourist site in Italy sounds appealing to
you, what are you waiting for?
4.
New Jersey Mansion ($10)
As you know, it’s not easy, or necessarily affordable, to buy a mansion in the US, but
in 2017 a New Jersey mansion went on sale for….
10 dollars!
Yes you heard that right!
Why just $10??
Of course, there are a few catches that went along with it.
The six-bedroom mansion, built in 1906, covers 4,000 square feet and was designed by Dudley
S Van Antwerp, who was responsible for more than 500 buildings in Montclair.
It was the former home of Aubrey Lewis, the football player who went on to become one
of the FBI’s first black agents, so it is steeped in history.
The catch, though, is that buyers weren’t able to keep the house where it was.
The land has been approved for the construction of 8 new properties so, as part of the sale,
the new owner has to move the entire structure to a nearby plot within a quarter of a mile.
The seller offered 10,000 dollars towards the cost of moving the building, but with
estimated costs of up to 60,000 dollars to move it, along with the need to purchase a
plot of land to put it on, the costs could soon rack up.
But still!!
It would be a much cheaper way of getting your own mansion, and you can put it where
you want it!
3.
Sardinia ($1)
Sardinia is a beautiful island off the coast of Italy.
The town of Ollolai is in the mountain region of the island, with views out across the fields,
and has plenty of uninhabited houses available!
In the past 50 years, the number of people in the town has more than halved and, with
an aging population, there are very few births each year.
The locals, therefore, want to encourage new families to move to the area to ensure the
town keeps growing (or at least maintained), and to do so they're offering homes for as
little as one euro, which is the equivalent to just over a dollar.
For this, you’ll get your very own Mediterranean stone-built villa which is ripe for renovation.
As a part of the purchase, owners are required to commit about 25,000 dollars for upgrades
within the next three years, but that's nothing for the chance to live in such a quaint place.
Local delicacies that you could be enjoying include premium sheep cheese, autumnal cakes,
and roasted piglets- and the fresh air, combined with the slow-paced nature of an isolated
village like this, make it the perfect place to escape the hustle and bustle of modern
life.
With people applying to the program from as far away as Russia and Australia, this could
soon become one of the most cosmopolitan regions of the Mediterranean!
And who doesn’t want to live on an island in the Meditteranean?
I mean, you know that property is just going to go up!
2.
Mansion in Columbia ($170,000)
If you’ve got a bit more cash, but want a great deal, then this mansion might interest
you….
It was on sale for 170,000 dollars!
See, amazing mansions aren’t only for the extremely wealthy!!
Here you can see this beautiful home that was for sale on Zillow.
Covering 4,780 square feet, with 7 bedrooms, and 3 bathrooms, there is room for everyone!!
The brick home is in the center of the Columbia Borough Historic District in Pennsylvania,
and has distant views of the Susquehanna River.
It's been in the same family for 70 years, and still has as much as 75 percent of the
original furnishings such as flooring, fireplaces, mantles, and a continuous three-story staircase.
It's in walking distance to the local stores and stands out with its blue exterior like
no other in the street.
It was a bargain when it was sold in early 2018, and proves that large homes are very
affordable if you look in the right place.
1.
Mansion in Indiana ($190,000)
Now on to Muncie, Indiana!
This mansion was on sale for 190,000 dollars!
While that might sound like a lot at this point, it’s an absolute bargain when you
see what it has to offer.
With 4 bedrooms and 4 bathrooms across 6,080 square feet, which includes more than an acre
of land, the property has enough room to park 20 cars outside- you know, for all those dinner
parties you are going to throw!
And plenty of space to entertain guests.
There’s also what’s described as a basement recreation area, an unfinished third floor,
and the focal point- four front columns that support the roof over a two-story porch.
The entire property is surrounded by a black aluminum fence, along with its original gate-
making it the ideal place for people who want to live in a historic house!
So keep your eyes open for your dream home!
It’s out there, and maybe for a great price!!
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