Is real estate affordable only for the rich? Nonsense! Become the owner of a private house under the power of even those who have only $1 in their soul - this is truly investment capital. Can't believe your eyes? We managed to cope with this task with difficulty. Such favorable offers have never been seen on the global real estate market. While you prepare your lucky dollar, we'll tell you how to spend it.
Moving to Indiana? An excellent idea that has inspired dozens of countries
What does the average Ukrainian know about the town of Geri? It's probably just a name... It's time to expand your worldview and tighten up your geography. Gary is a city in Lake County, Indiana, located on the shores of Lake Michigan. Plus, it's a place where real estate costs less than a bottle of soda. At one time, residents of Indiana had to make an interesting choice: buy a pack of chewing gum for $1 or a small house for themselves and their entire family. Hmmm, the decision is obvious - do you like strawberry or mint freshness?
Seriously, where did such suspicious generosity come from? Of course, not all houses could be bought at a "promotional" price. It extends only to rather run-down and derelict buildings that still grace the streets of the city with their attractive, albeit shabby, facades. The Dollar Home Program was revived with renewed vigor in 2013 thanks to then-Attorney General of the State of Indiana, Karen Freeman-Wilson. 25 years before that, she herself managed to use this program, so she decided to please her compatriots with a long-forgotten opportunity to start life from scratch.
The program is formed in such a way that only persons who really need a house and are able to give it a divine appearance can become its participants:
✅ You are an adult and conscious citizen over the age of 18
✅ You have never owned real estate before
✅ You have lived in the wonderful town of Geri for at least six months
✅ You can show off your savings account where at least $1,000 is patiently waiting for its time
✅ You correspond to 80% of the average level of income in the region (annual salary is $35,250)
✅ You have enough funds to restore your new house and arrange it in six months
✅ You undertake to live in your new residential area for at least 5 years from the moment of purchase
By renovating their hometown, local residents could create their dream home with minimal spending. Ownership of real estate was issued after all requirements were met, i.e. after 5 years. Of course, not all interested parties were able to participate in the program. Luck and randomness in the form of a lottery made it possible to determine 13 lucky winners.
Who adopted the experience of Gary or the cheapest real estate in the world 2024
We look back 10 years to show you how the past continues to influence the present and lead to positive change. Inspired by the experience of their predecessors, many countries are implementing similar programs with similar requirements to provide affordable housing to those who, for some reason, cannot afford to invest in new real estate with all the amenities.
- Italy 🇮🇹
Unusual initiative flooded the entire country - from Sicily to Sardinia, Southern, Northern and Central Italy. Houses costing €1 can be found both in small towns and in large cities such as Milan. It is believed that the program will bring the youth back to the villages and attract tourists, thus reviving the economy at an unprecedented rate. The main difference between Case a 1 euro (1 Euro Houses Project) and its counterparts is that the purchased building can be used not only for personal residence, but also for other purposes. You will be able to turn a colorful house into a boarding house, boutique hotel or any other profitable business.
- Croatia, Legrad 🇭🇷
The once prosperous city and real metropolis of the times of the Austro-Hungarian Empire has lost its popularity, but not its beauty. Neighboring Hungary and the nearby Drava River make the location advantageous and the scenery picturesque. The local authorities decided to give the indigenous population and immigrants the opportunity to buy one of the 19 ancient houses for just HRK 1 ($0,16). HRK 25 ($000) per building is allocated from the city budget to help restore and repair the building. The main requirements for candidates include the financial stability of age restrictions (up to 4,045 years) and the obligation to live in the city for at least 40 years. It is assumed that the new program will attract attention to Legrad and return it to its former glory. Both Croats themselves and representatives of Argentina, Turkey, Colombia and our native Ukraine have already expressed their desire to participate in the program.
- Other states and their proposals
The Land of the Rising Sun has more in store 10 million abandoned houses in the countryside, which are just waiting for their new owners. Periodically, similar initiatives appear in various cities of England. Stoke-on-Trent, Cornwall and even Liverpool have alternately tried selling houses and flats for just £1, provided buyers have a combined family income of £18-£25 and agree to live in the property for 5 years. On the Greek island of Andikithira (Antikythera), they decided to go further and not just provide free houses, but also pay their residents 500 euros each; monthly. But even the Greeks can't beat the Spanish scale. For comfortable remote work, it is offered to buy not just abandoned houses, but whole ones at once for next to nothing villages. And that's right, why exchange for trifles?
Profitable offers on the domestic market
In Ukraine, houses have not yet been sold for 1 hryvnia, but anything is possible in this world. As soon as such an offer appears on the market, we will be the first to tell you about it. In the meantime, you can expand your possessions and add to the list of existing ones property commercial real estate, an apartment in a modern residential complex or a private house with all amenities. Whatever object you choose, like the lucky ones from Gary, Legrad, Liverpool and other settlements, you can always transform even a ready-made living space to fill it with coziness and elements dear to the heart, as well as modern technologies, which facilitate the performance of everyday household duties. THE Capital agency is always ready to become your reliable companion on the way to your dream.
