My solution to refugee problem

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I have stated it elsewhere, and I may be a tad idealistic here. But if you all could bear with me. Suppose all the nations willing to take in those refugees, and other nations that can spare some monies spare some and give it to IMF or World Bank or the United Nations and this money is kept in "refugees rehabilitation fund". And then suppose, this organization goes shopping for some island. Offering reasonable price for what it is buying from locals. And then it rehabilitates the refugees out there. Would it help? Cultural shock will be avoided to an extent. Secondly, the islanders would know the score because their nationality may change, and therefore, they will have a choice whether to move into mainland or be a part of the new nation being formed on the island. They may be paid more for that sacrifice. It is not as if buying of land has not happened in the past. Alaska was not exactly part of the US from the beginning, right? I was thinking that if we can give homes like this, may be we will calm some feelings, including the feeling of homelessness among Palestinians.