UK house prices may be crazy, but not everywhere has gone up a gazillion per cent in the last month. There are still plenty of properties around the country available for bargain basement prices; rural Bulgaria does not own the crown of cheap.
So, here is my alternative – The Ultimate List of Cheap Auction Property: 25 Properties for Under £25,000 – otherwise known as: Homes Under The Hammer (The Bootstrap Edition).
1. A Three Bed Terrace in Doncaster
It’s likely this property will require works if the boarded up windows are anything to go by – however, it seems the neighbours have still got glazing so maybe it’s not catching. Roof seems OK so maybe there is a God!
2. An Alpine Plantation
With 4.5 acres of mixed deciduous/conifer woodland I’m thinking you could have some great summer BBQs and camp outs – alternatively you could always turn the trees into charcoal!
3. A Tenanted Studio Flat in Tividale
The retro look nautical theme in this Midlands estate was a passing fad…if ever it was one. But still, you get an apartment AND a garage below which is currently rented at £4,320 per annum which is a a whopper of a rental yield!
4. A New (ish) Build Tenanted Apartment in Belfast
Being close to the Titanic Quarter in the centre of Belfast means I shouldn’t make any nautical jokes about this one bed ground floor apartment let at £340.16 every four weeks, should be plain sailing then!
5. A Refurbished Two Bed in Rotherham
Well I don’t expect gold taps, but given the property has recently been modernised I’d be happy with the basics for that price – the agents say it’s got a newly fitted kitchen, gas fired central heating and UPVC double glazing throughout.
6. A Parcel of Amenity Land with River Frontage
You never know when you may want a piece of land with river frontage – it’s one of those gifts you can get for the man in your life who has “everything”. I bet most men would love the chance for some “fishing rights”!
7. A Timber Holiday Chalet
Holidays can be such a hassle; all that packing, checking-in and tiny plastic bottles which aren’t enough to fit your life in. So it’s refreshing to find an alternative – a wooden shack.
8. A Shell of a Detached House
You really shouldn’t kid yourself with the finishing works this project needs – it’ll need far more than just some glass in the holes. You may as well add “starting works” to that list as well!
9. A Repossession in Hartlepool
Sadly, it doesn’t matter how cheap things are – sometimes even just a penny is too much to manage. But, if you can scrabble together a few quid, you could buy this two bed mid terrace which should rent for around £350 per month.
10. Freehold Ground Rents and Land
For such a measly price, it’s odd to think you can buy the whole Freehold of the building including the land and parking spaces. Of course, you can’t live there – but you can charge Ground Rent for the privilege: £1,650 per annum.
11. A Long Leasehold Blackburn Investment
You may well turn your nose up at a High Street location and a house that was clearly a shop – but given it’s already let to a long term tenant at £300 per month – you could get your money back in just over 5 years.
12. A Spinney in Bedfordshire
A “Spinney” sounds so exciting like some sort of magical wizard cavern – until you google it and learn it’s “a small area of trees and bushes”. Anyway, you get 1.13 acres. But it seems there may be development potential given the clawback provisions.
13. Long Leasehold 1st And 2nd Floor Self-Contained Tenanted Flat with Development Potential
I’m not sure what the view would be like from the box bay window, but I like to think of the tartan scatter cushions I could make myself cosy on to admire the Welsh Valley views. Alternatively, I could just collect the £93 per week rent.
14. A Former School
I was never big into Grange Hill, but I like to think this could make an ideal setting for a catchy combo reality TV mix: “Help, My School Is Falling Down”. Once the show’s a hit you could run tours and get visitors to do the work. Savvy.
15. Detached Garage And Land
You can just tell by the way the sunlight bathes this garage that it’s somewhere by the sea. Of course, in London they’d likely think you’ll live in this, but I’m not sure the Devonians are ready for garage dwellers yet.
16. A 1000 Year Leasehold Three Bed House
The last time I went to Middlesbrough I learned they did “frothy coffee” not cappuccino and I got chased by wild horses on a housing estate. That was the last time. Maybe I was unlucky.
17. Four Freehold Sites
Random is, as random gets. £500 doesn’t buy you much in the property world – but who’s to know what you could ever do with a random bit of land in Lincolnshire. And you have four of of them.
18. A Timeshare Bungalow in Prestigious Golfing Resort
I’ve never really understood timeshare property – my fear of being locked in a hotel function room with a shiny-faced guy promising me a free meal has not yet won me over. But maybe I’ve missed out, here you even get free golf every day!
19. A Welsh Lake
If you’ve got a kayak this lake would make a perfect property purchase – although with 2.87 acres you could probably fit bigger floaty things on it. Alternatively, enjoy the serenity and take up painting – or maybe even water colouring.
20. A Three Bedroom Repossession in Dewsbury
I don’t know Dewsbury – but I do know I like the look of the honey coloured stone – plus the double glazing is a bonus. I’m sure there will be work to do, but it seems a cheap price tag for the property – especially if it rents for £450 per month.
21. A Shop in Grimsby
I don’t think Grimsby is on the top of many entrepreneurs wish list for dream retail locations – but when you’re bootstrapping needs must. Anyway you never know, with consent, you may be able to do something else with the building.
22. Head Lease Investment in Bournemouth
I really love pic ‘n’ mix and this is a veritable goodie bag; the 999 Head Lease has granted an Under Lease for 125 years to collect Ground Rent of £1,350 per year from the Leasehold flats, on top of that you get a car parking space and Overage Rights to any potential planning gain for the air space. Sweet.
23. Tenanted Bungalow in Bishop Auckland
This one bedroom bungalow may not be much – but then that means there’s less to go wrong! Let on an AST at £88 per week and all being well, you’ll see your investment back in just over 4 years.
24. A Carpet Showroom in Porth
Carpet showrooms are probably only useful if you have carpets to flog. But, don’t despair if you’re carpet-less – you could always turn this showroom into a different retail store – or maybe even back into a house.
25. A Long Leasehold Garage In London
I know you didn’t expect to see a cheap auction property list and have anything in London on it – but here you go; it’s not much – but I wouldn’t be surprised if you could rent this garage out for as much a terraced house up North.