Iowa town offers $10,000 if you build your home there


An Iowa town, northeast of Des Moines will pay you $10,000 just for building a home there.

The City of Newton has created the incentive to get people to move there.

“First of all, welcome to Newton and by the way, here’s $10,000… for making us your new home,” said Craig Armstrong with the city, according to a report by KCCI.

The offer stands for any new, single family homes built in 2014, according to Newton, Iowa’s website. The value of the home must be greater than $160,000.

Homes can be built in subdivision lots, or “infill” lots in existing neighborhoods. Click here for more details.

A longtime Re/Max Realtor, Jo Jenkins said Newton has been through many changes in the last decade, from the Maytag plant closing, to the construction of the Iowa Speedway, and dozens of new businesses settling in town. Jenkins said they need new development “and this will help.”

Anyone who decides to build a home will receive their $10,000 check at the time of closing on their mortgage, reported KCCI.

A local businessman, Brock Patterson, said he thinks the incentive is “a great idea” and will kick-off some new construction.

KCCI said that in addition to the $10,000, the city will waive building permit fees.

Filed in: Moneysaver

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