HomeLatest"Free $3 Million Mansion on Billionaires' Island Comes with a Catch"

“Free $3 Million Mansion on Billionaires’ Island Comes with a Catch”

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An extraordinary mansion is now available on the market for free, but with a unique condition attached. Situated in Massachusetts and valued at approximately $3 million or £2,200,000, this property located on Nantucket, also known as Billionaires’ Island, is being offered at no cost. However, the catch is that the potential buyer must relocate the house off the current plot due to the island’s Demolition Delay Bylaw program set for 2024, which encourages house relocations instead of demolitions.

The buyer who acquires this property must transport the house to a new location within 180 days. Originally listed for millions of dollars, the three-bedroom, two-bathroom dwelling spanning 1,736 square feet is now being given away by owner Dean Lampe to avoid demolition pressures.

A positive aspect is that if the new owner does not have land ready, the house can be temporarily suspended in the air using a “crib” crane until a suitable location is secured. House relocations are permitted from mid-September to June 15 to avoid the influx of summer tourists on the island.

Local real estate agent Shelly Lockwood of Pepper Frazier Real Estate questioned the necessity of disposing of these houses in landfills when they can still be utilized. Given the scarcity of available land on the island and its high value, people are inclined to acquire unwanted houses to gain access to the land, making these properties highly sought after.

The tradition of relocating properties has become common on the island as residents come to terms with soaring costs. However, moving a substantial house is a complex endeavor. Carl Jelleme from Toscana Corp, a company with years of experience in relocating homes on the island, emphasized the challenges involved in moving structures due to various factors like road width, trees, utility lines, and neighboring buildings.

While the demand for property relocation may appear unusual to many, it has become a customary practice on the island as residents navigate escalating expenses.

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