High housing prices make it difficult for some Americans to buy their first home or relocate to a new one. However, you may be surprised to learn that there are ways to help pay for your mortgage, such as relocating to a town in the U.S. that offers a free home or free land.
Check out this list to see if moving to one of these places to take advantage of free options for your next place to live could be the answer to your dream home.
Now Available: The Definitive Guide to Retirement Income
Many successful investors eventually reach the same moment. The saving is done, the portfolio is built, and the question quietly changes from how much can I grow this to how much can I take out? Get that second question wrong and decades of good investing can come apart in a handful of years.
That is exactly what The Definitive Guide to Retirement Income helps answer.1 <p class="">Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. Guides are provided by Fisher Investments. The publisher may be compensated when readers request a guide.</p> It covers what your retirement could actually cost, which income sources are worth using, and the withdrawal math that decides whether the money lasts. It is free today from Fisher Investments. Read More Here ›
Manilla, Iowa
Manilla has a population of less than 1,000 residents, but the town is trying to attract more people to the area.
The city, which is 98 miles southeast of Sioux City and 75 miles northeast of Omaha, will give you land for free so you can build a new single-family residence, which could help you get ahead financially. The deal also includes tax abatements for five years, utilities without hookup fees, and down payment assistance for first-time homebuyers.
Baltimore, Maryland
Through Baltimore's Fixed Pricing Program, you can buy a home for just $1. The city is selling nearly 1,000 houses at this price, with the possibility of a $50,000 grant to assist with renovations.
The deal applies to specific city-owned vacant buildings and lots and must be used as a primary residence.
Although the sticker price is cheap, the city does state that applicants must have a budget of $90,000 available for property rehabilitation.
Flagler, Colorado
Flagler, a town off I-70, 125 miles southeast of Denver, is inviting companies to move to their town and get free land, but there is a catch.
You have to apply for the free land with a business plan and financial application to prove that you'll be using the land for a business that will be beneficial to the community.
To be approved for the land, you'll also have to present your case to the town's council to prove that your business will improve the community and employ local residents.
Released: The Definitive Guide to Retirement Income (Sponsor)
Most people spend their entire working lives focusing on one thing: growing a pile of money. Then they retire and discover the skill they actually need is close to the opposite. Turning that pile into steady income, year after year, through good markets and bad, without ever running out. It may be the least discussed and most consequential transition in personal finance, and plenty of otherwise careful investors walk into it with no real plan.
That is exactly what The Definitive Guide to Retirement Income helps answer.1 <p class="">Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. Guides are provided by Fisher Investments. The publisher may be compensated when readers request a guide.</p> It is a free guide from Fisher Investments covering what your retirement will really cost, where the cash flow should come from, and how much you can safely withdraw each year. Learn More Here ›
Curtis, Nebraska
Curtis is offering new residents free lots to build single-family homes and for commercial/industrial purposes. They must meet certain specifications and be built within a certain time frame.
The town also offers $1,000 cash incentives for families with children if you move with the intent of buying or building a home within a year of relocating.
Elwood, Nebraska
Elwood is trying to attract new residents with free land for new single-family homes. The town has a population under 700 and lies about 180 miles west of Lincoln via I-80.
While the lots are free, there are some fees involved in the process, including a $500 deposit that you'll get back after completing your home and a $50 building permit.
You'll also have to complete construction within one year, and the house must be owner-occupied within two years after the purchase date.
Claremont, Minnesota
This city with about 500 residents is offering houses to families with a gross annual income of $129,000 or less.
To qualify, you must pay a $1,000 non-refundable administrative fee and complete eight hours of homeowner education. Claremont will then pair you with a counselor to apply for a USDA mortgage.
Bottom line
If you don't want to move to one of these cities that offer free homes or free land, there are other ways for you to get a new home.
Think about ways to boost your bank account with a side hustle or adjust your budget to find additional ways to save money. You can make small changes that lead to big dividends if you're trying to find ways to afford a home or land.
Up To 5% Cash Back
on Issuer's secure website Intro Offer
UNLIMITED CASHBACK MATCH: Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. Click Apply Now to view important rates and disclosures. Plus, receive a $200 statement credit when you spend $500 on purchases in your first 3 months of account opening
Annual Fee $0 Why we like it
The Discover it® Cash Back is ideal for anyone who loves flexible rewards options.
Cardholders can redeem their cash back for any amount.
Earn 5% cash back on rotating bonus categories up to the quarterly maximum when you activate, along with 1% cash back on all purchases.
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment.
Our partners do not influence how we rate products.
Subscribe Today
Unlock the Best Banking Deals and Bonuses
From high-yield savings accounts to cashback checking and sign-up bonuses, we bring you the best banking offers to grow your money smarter.
Add Us On Google