Some cities and states in America will actually pay you to become a resident.
For some people, moving isn’t as much about location, as it is about creating a fresh start, or going on a new adventure. Those people would be wise to take advantage of incentives that some cities and states in the US offer to new home-owners, and residents willing to relocate.
These cities are mostly rural, but their goal is to bring in new residents to rejuvenate their economy and neighborhoods. In recent years, there has been a lot of migration from rural areas to urban centers, and the economies of smaller towns are feeling the loss. Declines in population lead to lessened revenue, and over time can even result in the abandonment or foreclosure of entire towns. Cities and states are combatting this by trying to attract new residents through a variety of incentives. The incentives they offer can range anywhere from free lots, to grant money and loan assistance, but the gist of it is, if you are looking to move, and don’t particularly care too much about where you end up, taking advantage of these programs can make a lot of sense, and save you a lot of money.
Baltimore, Maryland. Pop: 621,849. Avg. home value: $123,000
Baltimore is one of the larger cities on this list, and they are mostly looking to attract new residents to fill vacancies. One of their programs offers a forgivable loan of 5K that forgives 20 percent every year for a five-year term. They also offer $10K towards closing costs or down payments if you move into a vacant Baltimore home.
New Haven, Connecticut. Pop: 129,964. Avg. home value: $157,900
New Haven actually has several programs aimed at bringing in new homeowners, including a $10K forgivable five-year loan for first-time homebuyers, $30K to assist with renovations, and a college tuition program that provides $40K.
Harmony, Minnesota. Pop: 1,013. Avg. home value: $93,900
If the name is any indication, Harmony might be a great new place to call home. Harmony offers a cash rebate program in the range of 5K to 12K, with no age, income, or residency restrictions. The down-side is that there are only 1,000 people living there, but sometimes it’s good to be a big fish in a small sea, or in this instance, lake.
Marne, Iowa. Pop: 114. Avg. home value: $75,300
Marne has the smallest population on this list, but it’s located just outside of Omaha, so that’s a plus. Marne will give you land for free in exchange for building a house. They will even allow modular homes, which is a great thing if you are considering going non-traditional with your construction.
Curtis, Nebraska. Pop: 896. Avg. home value: $79,000
If you construct a single-family home in Curtis Nebraska, the city will give you a lot of land for free. You have to finish construction within a certain time-frame, but free land is a great incentive to build a new home on time.[ via ] [ via ]