If you're looking for a bargain home to call your own, how about this adorable family residence in Pontiac, Michigan? Touted as the "world's cheapest home", it's currently on the market for a shockingly tiny £0.78 ($1). The ranch-style home has two bedrooms, one bathroom and stands on a 5,227-square-foot lot, which includes a 40-foot front lawn. So what's the catch? Click or scroll on and let's take a look inside...
Described by listing agent Chis Hubel as "the real estate adventure of a lifetime", this compact home, which was built in 1956, is certainly a fixer-upper. The cosy kitchen may be a little dated but, while the peeling paint and exposed fuse box might put off less intrepid house hunters, it's a blank canvas that's crying out for someone with a creative touch.
For those who can look past the scratches and scrapes, Hubel insists the home's potential is as limitless as the next buyer's imagination. He optimistically jokes that "the roof might have seen better days, but hey, it's not leaking yet – it's just keeping you on your toes, providing an unexpected shower of excitement when you least expect it."
Speaking of showers, the bathroom is in need of serious attention, as is the garden, which is just waiting for an owner with a green thumb. "Imagine a garden so wild, even Mother Nature would raise an eyebrow," the listing continues. "The overgrown shrubbery and exotic weeds lend an air of mystery, inviting local critters for an impromptu garden party." Still eager? Just wait until you see the next room on the tour – but be careful where you stand...
One of the home's most 'unique' stand-out features is this "avant-garde floor hole art installation" that looks suspiciously like a hole in the floor to us, but who are we to quibble over minor details? "Conveniently located next to the furnace," it gives house hunters an "authentic, unfiltered glimpse" into the crawl space below. While the petite home sold for £25,445 ($32.4k) in 2004, according to Zillow, it has struggled to keep its value and was last sold in 2022 for just £3,213 ($4.1k), which means the current owner may stand to make a staggering loss.
However, while the home is listed for just £0.78 ($1), the agency fee is £1,180 ($1.5k) and the buyer will need to pay cash – perhaps unsurprisingly, given the tiny asking price. And, as you might have guessed, it's expected to go for much more. Recently sold homes on the same street have gone for between £51,000 ($65k) and £149,100 ($190k), so perhaps this bijou pad might turn out to be a little gem for the brave soul willing to take on the work.
Read on to discover more super-cheap homes for sale with a catch
You may already know that towns and villages across Italy have been selling off their abandoned buildings for a mere €1 (£0.88 /$1.09) – which is less than the average cup of coffee – but there are bargains around the world just waiting to be bagged. From the picturesque village of Sambuca, Sicily, to rural Japan or even midwest America, there are hundreds of cheap houses waiting to be snapped up. But, as the old adage goes, if something sounds too good to be true, it usually is...
Walk down Piper Street in Kyneton, a small town about 53 miles from Melbourne, and you're thrown back in time to the mid-19th century. Many of the street's beautiful original buildings still stand and, tucked away among the attractive houses, hotels, cafes and restaurants, this home is waiting to be picked up – literally.
Listed on Gumtree, the home, which boasts wooden floors, sash windows and a brick fireplace in the living room as well as a small but light-filled kitchen, is FREE to whoever clears it from the site.
It appears from the sparsely-worded listing to have one bedroom and one bathroom, both of which seem perfectly habitable and a fantastic bargain for someone who doesn't mind a bit of hard work. Tucked away in the Macedon Ranges of Central Victoria, the area is known for its artisan food and wine industries, although the town of Kyneton only had a population of 7,513 in 2021, so houses such as this may not be in high demand.
Meanwhile, in Italy, towns with dwindling populations are also offering bargain property deals. But there are a few downsides. Firstly, each of the homes is dilapidated and prospective buyers need to commit to restoring the properties. For example, in Sambuca in Sicily, a town that was previously part of the €1 scheme, there's now a collection of vacant homes up for grabs for double the price – that's right, all of €2 (£1.76/$2.19). New owners will need to put down a €5,000 (£4.4k/$5.5k) deposit, which will be returned to them when the work is complete, and the renovations must be carried out within three years.
Elsewhere in Sicily in the city of Mussomeli, there are still plenty of houses for sale for €1 or £0.85 ($1.08). Indeed, in the recent BBC series Amanda & Alan's Italian Job, actress Amanda Holden purchases two such properties and convinces her best friend, comedian Alan Carr, to help her renovate them into a dream home. However, these restoration projects are no easy task. Stepping inside one of the homes that's currently up for grabs, it's clear that some work would be needed to bring it up to scratch.
Some real estate steals require more remediation than others. It's immediately clear what the drawback is to this once-pristine family home in Detroit, Michigan. The single-storey property is clearly badly fire-damaged, but it's on the market for just £392 ($500), so it's definitely worth a look.
Only the unfinished basement retains a hint of how the home may previously have looked, although it seems to have suffered water damage, possibly through the efforts to extinguish the fire. The home was bought by the current owners in 2014 for £108,700 ($138.4k), so if they sell it for the current £392 ($500) asking price, they'll make a heart-breaking 99.6% loss.
The fire even ravaged the exterior of the house and the pretty red-painted deck. However, this before photo shows what the home once looked like and how it might look again with the help of an ambitious new owner. Here's hoping this forlorn residence is returned to its former glory.
Who doesn't dream of owning a period home with original features in upstate New York? Well here's your chance – for just £784 ($1k). The 1,824-square-foot home stands on a well-maintained street, with a back garden and small front lawn, but it's immediately obvious that it'll need some serious polishing to make it shine.
Inside, the situation is even worse. The abandoned home requires a full renovation, with just the bare bones of the house still standing. And here's the catch: the home must be rescued rather than razed. Once split into multiple living quarters, the conditions of sale stipulate that the house must now be renovated into a single-family home. According to the listing, there's the potential for four or five bedrooms and two full bathrooms, as well as a living room, dining room and kitchen.
While the purchase price might be rock bottom, the buyer will have to show proof of funds amounting to £130,400 ($166k), which is the estimated cost of the renovation, although qualified contractors only need to show proof of funds of £44,000 ($56k). The house – which was built in 1920 – retains many original features, such as this carved wooden staircase and at least two stained-glass windows.
The garden is simply a bare patch of grass surrounded by overgrown trees and shrubs. Like the home, it's a blank canvas, ready for the new owner to make their mark. But don't worry if you miss out! There are a number of other similar properties up for grabs from the Greater Syracuse Land Bank, such as this abandoned house, also listed at £784 ($1k).
Across Japan, there are an estimated 8.5 million abandoned houses gathering dust – known as 'akiya'. But an intriguing initiative has been put in place to give these vacant properties a new lease of life. Deemed 'ghost homes', more than 13% of Japan's housing stock stood empty in 2018. It's a figure that some experts say could increase to 30% by 2033. This languishing real estate is in part due to Japan's aging population. As the country's numbers dramatically decline, a slew of vacant homes is left behind, which some relatives are hesitant to inherit because of Japan's second-home tax. What's more, younger generations are upping sticks to major cities in pursuit of more favourable economic prospects. The result is millions of unclaimed homes falling to ruin across Japan.
In an effort to stem the rural exodus and revitalise the country's dwindling regions, many of Japan's prefectures have launched akiya banks – databases of abandoned homes for sale across their districts. At this time, there are reportedly 685 participating local governments, each eager to draw new life back into their communities with the enticement of super-cheap property. Many of the prefectures will give buyers a financial helping hand with repairs too. Akiya banks are open to any qualified buyer who meets a specific prefecture's requirements. Japanese residency is not essential and the opportunities are open to buyers who live outside of the country.
The conditions and prices of properties can vary drastically. This rural farmhouse in Fukushima Prefecture on Honshu, Japan's most populous island, is currently on the market for just JP¥500,000, the equivalent of £2,700 ($3.4k). Built around 120 years ago, the historic wooden building is flanked by mountains and the idyllic Tadami River. However, it's in need of significant work if the listing images are anything to go by. Dislodged exterior woodwork means it would likely require structural attention, as well as cosmetic works. The residence does come with farmland, and at such a meagre sum, it could still offer an ambitious buyer an attractive investment opportunity.
Listed for an even smaller price tag – just JP¥400,000, or £2,200 ($2.7k) – this residence in the town of Numata on Hokkaido, the northernmost of Japan's islands, is another real estate steal from the region's akiya bank. The detached property is modest in scale, encompassing a kitchen, bathroom and two traditionally decorated living rooms across two floors. In total, the plot measures 3,552 square feet, so there's plenty of scope for further development on the acreage. As well as an interior overhaul, the residence's electric and water systems may need attention too.
Different regions have different stipulations for buyers looking to purchase an akiya. Some governments require renovations to take place within a restricted time frame. For example, in Nagano Prefecture, new residents must move in within two years of making an application, so any necessary renovations must have been carried out by this point. Some prefectures offer tax breaks and subsidies to help buyers cover renovation costs. In Nagano Prefecture, up to two-thirds of the repair work will be subsidised up to the sum of JP¥500,000 (£2.7k/$3.4k), while in rural areas, the upper limit is JP¥1 million (£5.4k/$6.7k). However, it's worth noting that according to Yamamoto Property Advisory, the cost of renovating an akiya can be as much as JP¥30 million (£162k/$206k). So while that tiny price tag may look like an unbelievably good deal at face value, buyers should anticipate a much higher final bill...
This charming two-storey house in Volga, South Dakota may have been built in 1920 but it's in great condition inside and out. With a good-sized porch and buttermilk-hued traditional lap sidings, it's as pretty as a picture. So why is it listed for just £15,600 ($19.9k)?
Inside, the home is finished to a high level, with a generous kitchen-diner that opens out into a formal dining room. It comes with ceiling fans, AC units, a furnace, a separate water heater and a total living space that spans 1,696 square feet. We're not seeing a catch so far...
The living room and formal dining room appear to have fresh paint and pristine wood laminate floors throughout, as well as a buffet hutch and French doors connecting the two rooms – not to mention large leaded glass windows that flood the home with natural light. Upstairs there are four bedrooms and a bathroom, as well as an office on the main floor, which could be used as a fifth bedroom if needed. But before you reach for your wallet, you should know this lovely home is missing something pretty important.
Unfortunately, the house doesn't come with any land – not even the plot it stands on! Whoever snaps it up will have to move the structure off the property. So, if you have a plot of land but no house and you're prepared to do some heavy lifting, this sweet homestead might be the one for you – and it's recently had £7,850 ($10k) slashed off the asking price. What a bargain!
From the road, this little house in Dudley, UK looks quite charming with its Bavarian-style window shutters and overgrown garden. However, with an auction guide price starting at just £19,000 ($24.2k), if you're expecting the interior to be slightly less charming, you'd be right.
The sitting room looks dated and rather tired, with an electric fire, an old-fashioned carpet and ceilings that look as if they're dripping with artex. However, the room is liveable and the house also boasts a bathroom and large shower that seem to have been relatively recently installed. However, it goes downhill from there...
Upstairs, the two bedrooms are heavily affected by mould and damp. With peeling paint, crumbling plaster and more garish carpet, it's clear the house needs a serious revamp if it's to become a home once more. Downstairs, although the kitchen seems to have been recently painted and perhaps even retiled, the floors, units and countertops all need replacing.
Outside, the end-of-terrace home has a small front garden as well as this spacious garden with a brick-built shed. While it's overrun with weeds and the surrounding trees and hedges are blocking some of the natural light, it could easily be tamed by a green-fingered new owner with a bit of time and patience. With such a low guide price, we're sure someone will see its potential when it goes to auction on 14 September.
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