HOUSE prices are at record highs but you can still get a bargain if you look in the right place.
The average cost of a home has now reached £283,000 according to latest figures from Land Registry – that’s up a whopping 12.8% from a year ago.
While experts are predicting that the property market will start to slow down, it’s still no mean feat for any aspiring buyer to save enough for a deposit.
But we have rounded up four of the cheapest properties on the market where you can grab a house for far less than the average.
These cheap and cheerful homes are a bargain – but they may need a bit of TLC.
Therefore, it’s important to consider extra costs of revamping the property as well as the cost of the purchase.
If you’re considering a fixer-upper then getting a survey done is essential so you can understand how much it might cost to get it up to scratch.
But if you’re willing to put in the effort you could end up with your dream home at a fraction of the cost.
We found these properties on Zoopla for under £50,000 in different parts of the country and they may be near you.
2-bed in Peterlee, County Durham – £28,000
This property is located in Peterlee, County Durham.
The property is in need of some serious TLC so while it’s priced at just £28,000, you’ll probably spend a lot more on renovations.
There are two schools nearby, one primary and one junior, ideal for any young families.
And if you commute to work then you might be able to travel via train as Horden station is 0.3 miles away and Seaham station is 5.1 miles away.
3-bed semi-detached, Durham – £32,000
This home in Shotton Colliery, Co Durham, has no forward chain, which is ideal if you’re looking to move in quickly.
It features an entrance hallway, downstairs toilet, lounge, kitchen, three bedrooms and family bathroom.
It also has a garden and parking space.
However, this is a shared ownership, which means you’d only own 50% of the property.
Make sure you understand the details of the scheme before you put the offer in – shared ownership can be a great way to get on the property ladder for less, but you’ll have to pay rent on the portion you don’t own.
2-bed terraced, Gainsborough – £35,000
This property in Gainsborough, Lincs, is up for grabs at £35,000.
The house requires full modernisation and improvement, so you’ll have to fork out extra cash once you’ve purchased it – but it could be a good investment opportunity.
The house features a reception hall, lounge, dining room, kitchen, bathroom, two bedrooms and an attic room. There is also a yard at the back of the property.
Gainsborough has two train stations and the property is close to two schools.
3-bed terraced, Middlesbrough – £38,500
This three bedroom house in Middlesbrough is available for £38,500.
The property is ideal as an investment opportunity as it’s in need of some TLC.
It has on street parking, three bedrooms, double glazed windows and is a chain free transaction.
It’s close to two primary schools, two train station and Teesside University.
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Source: The Sun