Buying a House? Here’s How to Earn a Free Vacation at the Same Time
If you’re a dedicated points and miles junkie like me, you want to earn miles on everything you buy.
So I was excited to discover you can even earn frequent flyer miles on one of the biggest purchases you’ll ever make: a house.
How to Earn Frequent Flyer Miles for Buying a House
First, a warning: Buying a house is a big deal. Literally. So it’s vital to work with a skilled and honest realtor.
To earn miles with the programs below, you must work with one of their affiliated agents. If you find one you like, go for it!
But if you already have a realtor you trust, it’s probably wise to stick with them.
The savings they could get you with their negotiating skills or industry knowledge could end up being far more valuable than the miles you could earn.
With that out of the way, let’s look at some of the companies that help you earn frequent flyer points for buying a house.
The newest and flashiest player on the scene, FlyHomes is a one-stop shop for real estate. You can search for homes, schedule showings and complete the entire buying process -- all on its site.
After a successful sale, the company uses a portion of its commission to buy you frequent flyer miles. It gives you one mile per dollar spent, so if you buy a home worth $250,000, you’ll earn 250,000 Alaska Airlines miles.
Right now it’s only available in Boston and the Washington cities of Bellevue and Seattle, but it plans to expand to San Francisco and Chicago soon.
Miles From Home
If you ask Miles From Home to refer you to a local realtor, you could earn 2,000 American Airlines (AAdvantage) miles for every $10,000 of your new home’s purchase price.
So, for purchasing a $250,000 home, you’ll earn 50,000 miles. The same deal applies if you’d like to sell your home.
Although that’s not nearly as good of a deal as FlyHomes, this program is available nationwide and in Canada (with the exceptions of Alaska, Iowa, Louisiana, Mississippi, New Jersey, Oklahoma and Oregon).
American Home Miles
With American Home Miles, you can earn AAdvantage miles in a variety of ways.
When buying or selling, it’s the same as the previous example: 2,000 miles for every $10,000 of the home’s price.
You can also earn miles for financing your mortgage through the service (1,250 AAdvantage miles for every $10,000 financed), or for using one of its partner moving companies.
Why You Should Collect Frequent Flyer Miles
Earning frequent flyer miles can be your key to almost-free travel.
Though I wouldn’t recommend choosing a realtor or program simply for the miles, it’s always good to know what options are out there.
If you’re not buying a house anytime soon, these posts have some other ideas for you:
Your Turn: Would you ever try to earn miles on a home purchase?
Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.