A prestigious college has just sold a house that is on their campus for only $1 and from the looks of the house, there’s not a thing wrong with it. While the house sold for a buck, the land didn’t go with it and the buyer needs to move his dollar bargain off the premises, according to NewsOxy on June 30.
According to the Christian Post, Smith College in Northampton Mass. is making room for new apartment-style student housing and the house is in the way. The new owner of this house needs to buy a lot to put the house on and the further away that lot is from the college, the more it is going to cost that owner to move the house.
The cost of moving the house is an estimated $70,000, but again it could exceed this amount depending on how far this house needs to travel to its new home. Along with the move and the new plot of land, the new owner will also have to construct a foundation for the house to sit on, which is another costly venture.
The cost of this $1 home could run hundreds of thousands of dollars by the time all the ducks are put in a row. This is Northampton, Massachusetts where the building lots are astronomical in price.
The home was built in 1860, so you are buying a piece of the area’s history and maybe even a few ghosts of home dwellers from the past! The house was used to house faculty at Smith College in the past.
The house has its historic woodworking, four bedrooms, two fireplaces and two baths. The college is hoping to put this house on the road to its new home by Sept. 1, but there’s a lot more to moving a house than just jacking it up, plunking it on a truck and towing it away.
Depending on the route the house needs to take to get to its new plot of land, this will decide on the amount of road work that needs to be done. When a house is moved from point A to point B electric wires and hanging traffic lights are often obstacles for this wide load and they need to be temporarily moved out of the way.
This can become very costly. The same goes for low lying tree branches along the route, they will need to be cut, which involves permission of the different property owners along the route. Then you have to coordinate the electric company and public works department to have the wires and traffic signals temporarily moved for the short time, but at the same time, that the house passes by.
Then the police department needs to control traffic along the route as the huge load passes by. This is often done at night or weekends, when traffic is at a minimum.
Yes, this $1 house is a spectacular buy if the price was only a buck, but that is unfortunately not the case when all is said and done. That bargain buy may end up costing more than if the buyer built a new house!