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Historic home selling for $10, but there’s a catch

Posted August 8
Updated August 9

Yes, you read the headline correctly. This gorgeous historic home, over a century old and what appears to be in good condition, is on the market in Montclair, New Jersey.

And it’s listed for the insanely low price of just $10.

You are probably wondering why this 3,912 square foot house hasn’t been swooped up yet-because after all, it’s not every day that you can purchase a home for the price of two fancy lattes. The reason is that there’s a catch. It’s not a small catch either.

Realtor

Upon purchasing the home, the new owner is required to relocate it. Not far, just somewhere within a quarter of a mile. But as you can imagine, to move a historic home that is nearly 4,000 square feet, it’s likely going to take quite a bit of work.

Wait, but why move it?

Surely that was your next question, right? Surprisingly it’s more common than you might think to move an older home or building. Many times if land is set to be developed, yet the space is occupied by a landmark church or building, the structure will be moved if it has enough historical significance.

Realtor.com

Which is the case is with this beautiful home four-bedroom, two-bath home. Built in 1906, it’s one of about 500 in the Montclair area that was designed by the late American architect Dudley S. Van Antwerp, who was well-known in the the area.

Realtor.com

Back in 2015, the owner had the property listed on the market for $1,400,000. Then it was announced in April 2017 that BNE Real Estate Group bought the property with plans to demolish it in order to use the land for new development.

Plans are to subdivide the 2.7 acres of land the home currently sits on into eight lots where single-family homes will be built.

Realtor

But because of the home’s historical significance, the city’s planning board only approved the developer’s plans under the condition that the home first would be listed in local papers for 60 days in attempt to find a buyer willing to move it somewhere within a quarter mile of where it currently stands.

In efforts to attract a buyer, the developer has listed the home for just $10 and is even committed to throwing $10,000 into the costs of moving it. The developer’s giving interested parties until Aug. 31 to step up or the wrecking ball may start swinging.

Realtor.com

So How Do You Move A House And How Much Does It Cost?

As with moving any existing structure to a new piece of land, the first steps include digging up the foundation before wedging steel beams under the home’s frame. Once the beams are in place, hydraulic jacks placed at each corner lift the structure about 4 feet off of the ground, where it’s then placed on the bed of a trailer.

Clearly this home is going to have to be moved in sections, which requires a lot more work.

Ben Brovont, an estimator with Wolfe House & Building Movers, says a home such as this one would cost around $75,000 to $100,000 to move. And that doesn’t include the cost of a new foundation, hiring a general contractor or the possibility of having to trim trees or move power lines in order to get the home to its new location. Oh that, and of course you’d have to buy new land for it to reside on before doing any of the above.

But if you like older homes, want to live in the Montclair, New Jersey area, and want a really good story to tell when people ask about your new house, then this home just may be your dream come true.

This story originally appeared on Simplemost. Checkout Simplemost for other great tips and ideas to make the most out of life.


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