Buffalo selling homes for a dollar
The New York city's program may have a few strings attached, however.
The city of Buffalo, New York is putting old, abandoned homes on the market for just a buck — but the cost of repairs could equal the price of a typical home.
The city’s Urban Homestead Program will give you the great deal as long as you promise to fix the place up and live there for at least three years. You’ll have to cover closing fees as well. But by doing so, you’re saving a historic home from being demolished. Cities like Philadelphia, Detroit, and Gary, Indiana, also have similar programs in place.
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"We're reintroducing new life into these properties," dollar-home owner Mike Puma told the Los Angeles Times. "Not only are you taking a stand against demolition, but you're taking a stand on what happens in this city."
It’s not exactly a popular program; eight to 10 houses a year are sold through the program, while 4,600 vacant homes remain. And that’s because with the great deal comes a lot of work. Some homes require fixes that cost tens of thousands of dollars.
But the results can be amazing if you're willing to put in the work — and your community will be grateful for your elbow grease.
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But for me the deal killer is being told I have to live in them. I'd be happy to rebuild them and sell them, even at a bit under market value, but that's it. Looking to make some money here.
Funny how the states that are in real trouble are in Democrat control. Will the MORONS who vote Democrat ever figure out they are being used by a bunch of corupt control freaks who do nothing but regulate everything and rip us off with never ending taxes/fees? Look around your town and ask yourself if things are getting better for all the $ these corupt bastards take.
This is SOOO STUPID! Confiscate the properties, level them and take them back to only fresh topsoil and make community gardens. Then when you get enough of them next to each other over the next decade, sell them for full price to developers for brand new construction. Take control of your own city; don’t just give it away!
In the late 70's, every night on the evening news all we heard was about house fires in Buffalo and the immediate area. After visiting there I realized burning the place was the right idea. And it's only gotten worse.
I hope the idea works and it cleans up the area. With the high crime rate, it's a risky investment.