By Greg Gullberg
February 5, 2013
Valdosta, GA - A new retail complex is on the way to Valdosta but first several historic homes need to either be moved or destroyed. And that could mean owning your own house for a steal of a price.
You can own any one of 11 homes in Valdosta for just $10. That's right $10. The catch is they're being torn down next month.
The buyer will have to relocate them to another lot so a new retail complex can go in their place on a block just south of the Valdosta State University Fine Arts Center.
"The McAlister Company is offering to sell the houses for $10 each and to give an equivalent to the money it would take to tear them down to a person to relocate them," said Harry Hamm, Chairman of the Historic Preservation Commission.
The plan is to build the McAlister Development Project just across the street from VSU to cater to the college student crowd. It's going to be a four story complex ,complete with retail stores and student housing.
But members of Valdosta's Historic Preservation Commission are sorry to see them go because five of these houses have great historic value at 80 years old.
"Though not fine and grand, they're historic houses and they're nice. The block itself is historic," Hamm said.
"Shopping centers would be great. That way we don't have to deal with all the traffic going into town and stuff like that. It would be close to this school and close to home," said VSU Freshman, Peyton Childs.
"People are going to look back and wish the historic parts of Valdosta had been preserved because it is definitely getting bigger," said Lucas Rocheleau, a VSU Senior.
"They're worth saving. At least five of them are worth saving," said Hamm.
- - - MONEY BREAK DOWN - - -
Most of the houses are between 70 and 80 years old. Each of them are worth between $40,000 and $100,000.
The anticipated cost to have a moving company relocate the houses is around $25,000. McAlister Co. will pay the equivalent of what it would have cost to tear it down which will be a few thousand dollars.
The title to the house is yours for $10. And it is yours permanently.
It is up to the buyer to find a lot to put it on. A lot in the city will likely cost more than in the county.
Then there's the cost of restoration. The new owner will need to pay for re-wiring, re-plumbing, etc...
But when it's all said and done, the cost of buying, moving, and restoring the house should be significantly less than the house's value. And the folks at the Valdosta Historic Preservation Commission will thank you.
Interested parties should call the McAlister Development company in Charleston SC.