Face it … we all want a piece of the rock. However, for some of us, that rock is made from Unobtainium. However, there are some places where you may not have looked for affordable and sometimes unusual pieces of real estate yet.
1) Sales tax recovery
Generally, once a year, counties will hold what is known as a “tax recovery sale.” In essence, they auction off land that has taxes owed. Sometimes the county also throws its own leftover packages into the mix. However, these sales require you to conduct intensive research. There is usually no information on these properties, so you will want to see things like links, pollution, zoning, and building restrictions. For more information on these auctions, contact the county in your desired area and they can guide you through the process, as well as provide dates and property listings.
2) Sale of municipal land
Municipalities and counties will also have public land sales, which are priced at a fixed price and most likely listed with a real estate agent. Sometimes these parcels of land are a clearance sale to attract new residents and merchants to cities struggling to stay on the map. As an example, a small community in Manitoba was offering lots starting at $ 10 CDN, with the caveat that construction must be completed in one year. It’s worth smelling around your target area and even expanding your limits to save some cash.
3) Unlisted private sales
Pack a lunch, get in the car, and go for a drive through the countryside. Physically drive through your destination area; you will likely find more than a few “For Sale By Owner” or FSBO properties. Some people don’t like dealing with real estate agents or paying that big commission at the end of the sale, and others just aren’t in a rush to sell, so they put up a sign and leave. The more faded the sign, the more likely the owner is willing to haggle. If you find a property that looks interesting and abandoned without any sign or phone number, write down the address or location and look up the owner through the Property Records. He / she might be willing to negotiate a deal with you.
4) Old business sales
Commercial real estate can offer some of the most unique and interesting properties, and if they are out of town, very affordable. In many small towns, street shops already have rear housing, giving you the opportunity to live where you work. Even if the local population is not enough to support commercial commerce (which is why these properties are for sale), a person can have a home-based business that is not dependent on traffic, such as an Internet-based business. or a craft workshop. Depending on what type of building it used to be, you may need to speak with your local municipal office to determine the type of business allowed or if the property can be rezoned from commercial to residential. You will save a bundle in taxes if the building is zoned for its intended use, rather than its original use.