Buy This Michigan Bungalow for a Buck
Moving this one-buck, fixer-upper is estimated to cost about $20,000. Add in renovations on the 2,110 square foot home, plus the cost of the land on which to place it, and it will likely cost more than last year's purchase price of $76,415..
If no one buys this Arts and Crafts-style home for $1 by May 31, 2010, it will be demolished. So what factors do you need to consider when uprooting and relocating a house?
Almost any home can be moved. You'll need to hire the services of a specialist who can coordinate the complexity of the task. Generally speaking the smaller the home and the less distance between lot locations, the less expensive it will be to move. However, other factors can influence cost. Some of these factors include: the structural condition of the house prior to move, the distance, and the crew required to travel with and reassemble the home at the new site.
Fees to move an entire house conservatively start at $8,000 and quickly ramp up from there. Other payables associated with moving an entire house include new insurance and permits, new utilities, labor costs, and contractor services required to build a brand new foundation.
Still, for some lucky buyer, a home for a $1 could be an opportunity to snap up a home crafted in one of the most popular and enduring architectural styles. Craftsman homes typically contain built-in cabinetry, heart-pine wood, and highly-skilled crafted details all but lost in most of today's home construction.
In addition, older Craftsman homes, perhaps even this Michigan bungalow, are frequently built from natural resources that today are more expensive and more rare than when these homes - popular in the turn of the last century - were constructed.
Enticing buyers with the promise of a whole house for a "clam", even a whole house for just 100 pennies seems like a good idea for unique, older homes in need of preservation. For instance, the city of Saint Paul, Minnesota is trying to sell a neighborhood of homes for a dollar each to attract and retain residents. The bonus of a Saint Paul purchase? No need to put the home on wheels and move it, whole hog, to another location.