Skip to main content

Creative ways to get a house and/ or land either free or very cheap?

By "get a house/ land" I mean permanently own; not rent long-term. Renting has been a huge burden for me these last few years with ever-increasing rent and no cap on how much or when landlords and property owners are allowed to raise the rent. I'm trying to get away from this by finding a way to own my own home and/ or land.
What are some creative ways to get a house, a piece of land that can be developed for living, or maybe even both for cheap or even free? Is simply looking for foreclosures really as much of a viable option as people make it out to be?
To be clear, I'm talking about a permanent residence that I could live in. Although if there's some kind of loophole where I could get a business license/ loan and get a property that I also live in I guess that could work too, though my priority is finding my own place to live.

If you have suggestions for something outside the US, it would have to something that someone could reasonably use as an option for living year round. For example, Japan currently has an "Akiya" or abandoned-home project in which they are giving away homes for extremely cheap if not free. However, due to immigration laws and the inherent difficulties of obtaining permanent residency as a non-citizen of Japan, you are only allowed to live in Japan for 90 days at a time, making this an unrealistic living option for most people despite the affordable land/ home it entails.
Any and all ideas are welcome here. Hopefully this post can expand peoples' horizons when it comes to accessible housing since this is definitely a huge issue that many people in our times (including myself) are currently facing.

submitted by /u/Professional-Gaijin
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1b6znkg/creative_ways_to_get_a_house_and_or_land_either/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...