French town sells a house for just 1 euro

The bargain comes with strings attached, however

Following in the footsteps of several Italian communities, this French town is now offering an entire house for the remarkably attractive price of 1 euro. Saint-Amand-Montrond, located in the very heart of France, is on a mission to revitalize its territory and improve its attractiveness, with creative means.

See how you can become a homeowner in France for 1 euro only

A 90-square metres house in the historical centre for just 1 euro? This certainly sounds like a dream deal, but in this French town, it will soon become a reality for one lucky person or a family.

As part of its Territory Revitalization Operation, the Saint-Amand-Montrond has put a 90.94 square metres house for sale and asks for just 1 euro in return. The property’s value is estimated at 27,000 euros, but of course, the plan is not about making a profit.

Set up by other French cities among which Roubaix, this system allows households to become property owners at a symbolic cost. In return, they undertake to carry out rehabilitation work according to specifications and refrain from reselling it for a certain period. Luckily, modest-income households are eligible for a subsidy.

The offer is open to first-time buyers only who intend to reside permanently in the house. Moreover, the future owner should clearly demonstrate his intention to renovate it by starting the works within 6 months of closing the deal and finishing them for 2 years in total.

The renovated home should also be energy-efficient, and the thermal renovation should preferably be performed by local businesses.

Naturally, the town authorities expect high demand and have drafted a selection procedure for the case. Prospective homeowners should apply by providing a motivation letter, justification that they own no other property and have not owned any within the last two years, a renovation plan and how they intend to finance it.

The project proposed could bring a maximum of 20 points; likewise for the quality of the rehabilitation. The financial capacity of the application could bring up to 15 more points. The maximum score is 55 points + 5 bonus points. Said bonus is given only to employees working in the Communauté de communes Cœur de France (a federal grouping of municipalities).

Those who are interested in applying can dial 02 48 63 83 15 – 02 48 63 83 05 or get acquainted with the house here.