As house prices reach an all-time high, it’s reassuring to know that you can still find properties at well below what you’d normally expect to pay.
Some are in areas that are still great value, while others are marketed cheaply to sell fast, but in many cases they’re marked down simply because they need work — which can range from cosmetic updates to dealing with structural defects before renovating.
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Other bargain properties have short leases.
Whether buying at auction or through an estate agent, get a survey done and find out what the issues are and how much they’ll cost to remedy before committing yourself. These bargain homes are currently for sale.
1. San Siro, Menaggio, Como, Italy, €65,000 (£55,128)
This delightful house is set high on a hill in the main square of a historic hamlet only a few minutes’ drive from the lakeside resort of Menaggio.
Arched windows, exposed stonework and an original fireplace are among the many period features, and there are partial lake views from the upper floor.
The drawback is that it’s crying out for renovation — and due to difficulty of access, helicopters might be required to transport the necessary materials. Anyone up for the challenge should contact Lakeside Real Estate.
2. Shildon, County Durham, £60,000
For the past three years, property portal Zoopla has declared Shildon the UK’s most affordable town to buy in, with the average home costing just 1.1 times the combined annual income of a two-earner household.
This one’s below the average price for a terraced house — currently £65,890 — and in excellent condition too, having been upgraded throughout.
It includes two living rooms, a ground floor bathroom, two double bedrooms, a useful loft room and a yard at the back. From Strike.
3. Doncaster, South Yorkshire, £60,000
If you’re looking for somewhere you can move into straight away, don’t miss this extended two-bedroom end of terrace house, which is super-convenient for the area’s motorway links.
The interior is a little tired, but that can be fixed over time.
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The front door opens into a living/dining room and the kitchen’s at the back, with two double bedrooms and a family bathroom upstairs, and the garden is a good size.
Two primary schools rated as good by Ofsted are within half a mile. Find out more from William H Brown.
4. Broad Wynd, West Wemyss, Fife, offers over £75,000
The Fife coast is famed for its pretty villages and you’d pay much for more for a similar property in one of the better-known locations in East Neuk, further up the coast.
This upper flat is tastefully decorated and has a double bedroom, a bathroom, a sitting room with space for a dining table, and a separate kitchen with views across the rooftops towards the sea. It’s available through Yopa.
5. Heywood, Greater Manchester, offers in excess of £130,000
Yes, the paper’s peeling off the walls in places and the bathroom’s certainly seen better days, but with some love and attention this mid-terrace house has the potential to be turned into a lovely family home.
There are three well-proportioned bedrooms, front and back gardens and an attic room with Velux windows and eaves storage, accessed by a proper staircase leading up from the landing. Through Ryder & Dutton via OnTheMarket.
6. Godalming, Surrey, guide price £200,000
Definitely not a project for a novice, this Grade II listed end-of-terrace cottage is being offered as a shell.
At the moment it comprises a basement room, a sitting room, WC and store, a first floor bedroom and a garden.
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It comes with listed building consent for exterior and interior alteration, including creating a kitchen/diner on the ground floor, and converting the attic into a second bedroom.
It’s being auctioned — along with a neighbouring cottage, which has a guide price of £160,000 — on 4 August, via Allsop.
7. Marylebone, London W1, £315,000
While £300,000 or more will buy you a decent-sized house in many areas, it won’t get you much at all in central London.
This bright one-bedroom flat — on the second floor of a block with a lift, tucked away behind Marble Arch and a short walk from Hyde Park and Selfridges — is exceptionally cheap compared with its neighbours because only 37 years are left on the lease.
With a lease extension it would be worth around £425,000, though you’d need to fork out at least £100,000 to cover the cost. For sale through Manors.
8. Homer, Much Wenlock, Shropshire, £350,000
Built in the 1960s, Byways is a spacious bungalow in a semi-rural setting that now requires modernisation.
The four bedrooms, bathroom, WC, kitchen and siting/dining room all lead off the hall, and the layout could be reconfigured — perhaps by going open plan and installing another bathroom — to suit modern-day living.
Converting the sizeable loft would create extra accommodation, and it has a tiered, south-facing back garden with a sun terrace. Get the lowdown from Strutt & Parker.