The concept of “moving house” takes on a new dimension with a unique offer from Nantucket.
The Massachusetts island is presenting a remarkable opportunity: a free $3 million home, provided the new owner relocates it from the land within six months.
This offer is part of the island’s Demolition Delay Bylaw program, which aims to encourage homeowners to move houses to new sites instead of demolishing them, thereby reducing waste.
“Why would we put these houses into a landfill when someone can use them?” questioned Shelly Lockwood, a local real estate agent from Pepper Frazier Real Estate, in a conversation with Realtor.com.
This three-bedroom, two-bathroom house, covering 1,736 square feet, is situated on a 1.04-acre lot. It is located far enough from the coast, sparing it from the erosion challenges that typically necessitate the relocation of homes on Nantucket, as reported by the outlet.
Individuals interested in joining the ranks of notable Nantucket residents like Bill Belichick, Dave Portnoy, or John Kerry need to submit a letter of intention to both the town’s building commissioner and the current homeowner.
Prospective new owners must be prepared to relocate the house within six months.
The property’s last transaction occurred around six months ago. According to Lockwood, the land on Nantucket is so scarce and valuable that buyers often purchase homes solely for the land they occupy.
“People buy a house they don’t want just to acquire the land,” Lockwood stated, highlighting the high land value due to limited availability.
Relocating a house can cost between $150,000 to $500,000 or more, yet with Nantucket’s median home price at $4.4 million and vacant land averaging $1.65 million, this deal could be appealing for the right buyer.
“These opportunities are in high demand,” Lockwood said. “Who wouldn’t want a house for $150,000 in moving costs? It’s an excellent value.”
