8 cities and towns where you can buy a home for free — or at a massive discount
Cities and towns have taken to selling abandoned properties for free, or at minimal prices.
Cities may be experiencing a global housing shortage, but there are still plenty of ways to find cheap real estate. You just have to know where to look.
In areas where homes are old or unoccupied, governments occasionally offer subsidies to finance a renovation. In other cases, homeowners are willing to list their properties at little to no cost.
We've rounded up the locations where you can buy a home for free, or at a major discount.
The list includes small towns like Tulsa, Oklahoma, as well as major urban areas like Baltimore, Maryland and Tokyo, Japan. Take a look.
Homeowners in Tokyo are listing their abandoned properties for free.
for free
New Haven, Connecticut, is giving away up to $42,500 in housing discounts to first-time homebuyers.
First-time homebuyers in New Haven are eligible to receive up to $10,000 to cover the closing costs or down-payment on their home. The subsidy comes in the form of an interest-free loan, which is fully forgiven after five years.
City
Tulsa, Oklahoma, offers remote workers a 33% discount on a fully furnished apartment for three months.
The Tulsa Remote program is offering a small group of digital nomads —
Buffalo, New York is selling unwanted property for $1.
In Buffalo, city-owned property without an interested buyer that doesn't serve the public is eligible for the Urban Homestead Program. The program sells properties for just $1, plus closing costs, but there are a few additional requirements.
Buyers must stay in the home for at least three years and fix any building code violations within 18 months.
While the deal may seem inexpensive up front, renovating an abandoned home can be pricey.
There's also a limited supply: In 2015, the
Buyers in Baltimore could be eligible for housing incentives of either $5,000 or $10,000.
The BaltimoreHomeownership Incentive Programoffers a number of discounts for local residents, including $5,000 for first-time homebuyers who earn at or below 80% of the area median income, and a $5,000 incentive for city employees.
Twice a year, the cityselects 30 peopleto receive $5,000 in housing incentives. For those who want to live near work, the city will also match an employer's housing contributions for up to $2,500.
The program's biggest subsidy comes in the form of $10,000 for residents who purchase a vacant home.
The small town of Harmony, Minnesota, is handing out cash rebates of up to $12,000.
Residents of Harmony can receive a cash rebate of up to
Gary, Indiana is selling a select number of homes for just $1.
In August, the city of Gary, Indiana, announced the sale of eight homes through its Dollar Home Program. Their website now lists twelve properties that, despite their ramshackle appearance, seem primed for renovation.
To purchase the $1 homes, applicants must agree to rehabilitate the property within one year of its purchase, and stay there for at least five years. There's also a minimum income requirement of $38,750.
A village in Italy is selling hundreds of abandoned properties for $1.25 each.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng