An American couple searched for their dream home for 24 years and finally found it in Tennessee, purchasing it for just $1.

The "James Lee" house is a landmark in Memphis dating back to 1848 but was abandoned for over 60 years after the owner died and the association that rented it for 50 years did nothing with it.

Once the lease expired in 2011, the city sent out a request calling on people to restore the mansion, which is listed on the National Register of Historic Places.

Jose Velázquez, a local developer, heard about the city's request and developed a report integrating a plan to invest $2.1 million to restore the 165-year-old mansion.

The man, along with his wife, came up with the idea of transforming the house into a "Bed and Breakfast" property, a plan that was approved and sold by the Council for just $1.

Currently, the house is transformed into a magnificent mansion where tourists can stay in luxurious conditions.

Source photo: www.dailymail.co.uk

Overall image of the mansion