6 Places That Will Pay You to Relocate
Is it time to take a gamble on your next home’s location? We know what you’re going to say. “But guys! You’re always telling us to take the time to find the right location!” We know, we know. But sometimes the right location has less to do with what’s around your home and everything to do with getting paid to be there. So where is that exactly?
- Alaska: Since 1980, every permanent resident has been getting an annual check courtesy of Permanent Dividend Fund. The program is funded by revenue from the Trans-Alaska Pipeline. In 2014, every resident got paid $1,884.
- Kansas: If you want to live in Kansas, chances are you can find some sort of incentive. Over half the state’s counties are offering up to $15,000 in student loan payments or a state income tax waiver for five years, just for moving there.
- Chattanooga, Tenn.: Chattanooga is the first city in the country to get a gigabit per second fiber internet throughout the city. But what’s the point of all that speed if you don’t have entrepreneurs doing something with it? That’s how the GeekMove program came about. This program is extremely targeted, but totally worth it if you fit the criteria. It’s open to full-time developers and system admins who currently live in a 50-mile radius outside Chattanooga. The deal is if they buy a home in one of eight neighborhoods, they’ll be eligible for a forgivable second mortgage to cover closing costs and down payment and a $1,250 lump sum for moving expenses. The second mortgage is forgiven at 33 percent each year, so after three years your second mortgage goes away.
- Detroit, Mich.: Since the recession, Detroit has a reputation for being a ghost town. But the city is doing a lot to help revitalize. There are a handful of companies who are working with the city to pay their employees to live there. Not only are you eligible for stipends for your rent or mortgage, and a $20,000 forgivable loan option, but you can also get money to make exterior improvements on your home. A HELOC is usually the best way to get money for that type of improvement, but free is definitely better!
- Niagara Falls: Niagara Falls’ downtown area hasn’t been as vibrant as the town leaders would like. So the city decided that young people were the answer. And what do a lot of young people have? That’s right, student loans. So the city instituted a the Downtown Housing Incentive Program. The city will pay up to $6,984 in student loan payments for recent graduates to live in Downtown Niagara Falls. The only catch? You have to prove you’re in good standing with your landlord or mortgage lender.
- Small Town, USA: There are a lot of small, rural towns throughout the country that are offering anything from free land to housing stipends to anyone willing to move there. There’s usually not a whole lot in the town (not even a gas station in some towns), but if you’re willing to rough it you can help shape the town into something better.