Unusual Offer on Nantucket Island

An intriguing opportunity has surfaced on Nantucket Island—where “moving” takes on a different meaning. The island is giving away a $3 million home, but there’s a catch: the new owner must move it off the property within six months.

This unconventional offer is part of Nantucket’s Demolition Delay Ordinance program. The initiative aims to promote home relocations instead of demolitions, helping reduce waste and preserve existing structures.

“Why bury these homes in landfills when they could be repurposed?” questions Sherry Lockwood, a local real estate agent. It’s a fair point, really. The three-bedroom, two-bath home spans 1,736 square feet and sits on a 1.04-acre lot. It’s located safely inland, away from coastal erosion risks, according to local reports.

People interested in this unique deal have to submit a letter of intent to both the town’s building commissioner and the home’s current owner. This is not just for anyone; it feels like a nod to the elite of Nantucket, where names like Bill Belichick and John Kerry are part of the community.

Interestingly, the property changed hands just about six months ago, likely for its valuable land, which is in high demand on this upscale island. Lockwood notes that purchasing homes one might not want is common when the land itself is so coveted. “The cost of land is so steep that it becomes a strategy for buyers,” she explains.

Relocating a home can be pricey, ranging from $150,000 to over $500,000. Yet, considering that the median home price on the island is around $4.4 million, this could still be an appealing option for the right buyer. “When these homes are available, they’re in high demand. I mean, who wouldn’t want a house with moving costs around $150,000?” Lockwood adds. It does seem like quite a deal if you can manage it, doesn’t it?