Nantucket Property Valued at $3 Million Offered at No Cost – With a Significant Condition

In a deal that redefines the concept of “moving house,” Nantucket is presenting an extraordinary opportunity: a $3 million home on this prestigious Massachusetts island—free of charge, provided the new owner relocates it from its current site within six months.

This unconventional arrangement is part of Nantucket’s Demolition Delay Bylaw program, designed to encourage homeowners to move houses to new locations instead of demolishing them, thereby reducing landfill waste.

Shelly Lockwood, a real estate agent with Pepper Frazier Real Estate, explained to Realtor.com, “Why send these homes to a landfill when they could be repurposed?”

This particular residence, featuring three bedrooms and two bathrooms across 1,736 square feet, is situated on a 1.04-acre parcel. Its location is sufficiently distanced from the shoreline, sparing it from the erosion threats that typically necessitate the relocation of Nantucket homes, as noted by the outlet.

Prospective owners interested in joining the elite circle of Nantucket residents, such as Bill Belichick, Dave Portnoy, or former senator and secretary of state John Kerry, must submit a letter of intent to both the town’s building commissioner and the current homeowner.

Interested parties hoping to join the ranks of A-list Nantucketers like Bill Belichick, Dave Portnoy or former senator and secretary of state John Kerry must write a letter of intention to the town’s building commissioner as well as the home’s current owner.

The claimant must be ready to move the house to its final destination within six months.

The property last changed hands about six months ago. Lockwood said land is at such a premium on the tony island off the coast of Cape Cod that it’s likely the current owner bought the house for the acre of prime real estate the dwelling sits upon.

“Because the value of the land is so high—because there’s none left on the island, really—people will buy a house they don’t want just to get the land,” she said.

The cost of relocating a home ranges from around $150,000 to $500,000 or more, but with Nantucket’s median $4.4 million price tag for a house, and vacant land options hovering around $1.65 million, the transaction might still make a good deal for the right buyer.

“When they come up, they are very hot commodities,” Lockwood said. “Who wouldn’t want a house for $150,000 or so moving costs? You grab them if you can; it’s a hell of a value.”