Cheap property for sale: Houses under £20k with plenty of potential

16 August 2019 | 2 Comments

Struggling to get a foot on the ladder? You could own one of these homes outright for less than the average UK deposit. Take a look at the cheap property for sale we've found around the UK...

For many first-time buyers, finding cheap property for sale and saving for a deposit can feel like an endless uphill battle.

It might come as a welcome surprise then to know that last month, five homes in the UK were sold for the bargain price of £20,000.

According to data from the HM Land Registry, the properties were located in Durham, Sunderland and Lancashire. 

READ MORE: Promising (and cheap) houses for sale for £30,000

While it's important to bear in mind that cheaper properties often require a little more work before you can unpack your bags – always get a proper structural survey done before you sign on the dotted line – they can prove lucrative investments in the long run.

Searching for a bargain? We've rounded up a selection of homes for sale in the UK for £20,000 on less...

One-bedroom flat, Greenock, Inverclyde, £19,950

Bargain £20,000 homes for less than the average deposit

Located in the coastal town of Greenock in Scotland, this one-bed attic flat on Prospecthill Street is ideal for first-time buyers looking for a place to call home.

While the open-plan kitchen and living room needs a little updating, it's in pretty good shape. Fitted with double glazing and gas central heating, it'll be comfortable and cosy come the biting Scottish winter too. 

Bargain £20,000 homes for less than the average deposit

With a vibrant purple feature wall, the bedroom is generous and even features a large walk-in closet. 

Up for a little elbow grease? This promising flat in on the market with the Glasgow Property Agency for £19,950.

Two-bedroom house, Bishop Auckland, Durham, £15,000

£20,000 homes for less than the average deposit

This smart two-bed terraced house on the outskirts of Bishop Auckland in Gurlish West is a great little fixer-upper for those open to a renovation project.

It would certainly benefit from an update, however, there's plenty of potential here to create a fine family home.

£20,000 homes for sale for less than the average deposit

On entering the residence, the hallway gives way to the lounge, complete with a stone fireplace, and a kitchen featuring tiled flooring and colourful floral wallpaper. Upstairs you'll find two bedrooms and a bathroom, and to the rear of the property is a small yard.

This terraced home is listed for auction with Lifestyle Property via On The Market with a guide price of £15,000.

Two-bedroom apartment, Langley Moor, Durham, £19,950

Bargain £20,000 homes for sale

Ideal as a buy-to-let or a bargain first buy, this characterful home on Littleburn Lane in Durham would be an excellent residence to move straight into.

Accommodation on offer includes a large lounge, kitchen, hallway, bathroom and two bedrooms. Found at the rear, the enclosed yard would benefit from a simple spruce up.

Bargain £20,000 homes for sale

Just a few minutes walk from the local amenities in Langley Moor, the home is only two miles away from Durham city centre where you'll find a wealth of shops, restaurants and amenities.

This generous apartment is listed for auction with Robinsons via On The Market, with starting bids from £19,950.

Two-bedroom terraced house, Burnley, Lancashire, £20,000

Cheap homes for sale in the UK

In close proximity to Burnley Central train station and local amenities, this two-bed home in Lancashire needs a little work but could make a very rewarding investment in the long run. 

With ample space, the mid-terraced property offers a kitchen, dining room and lounge complete with fireplace, while upstairs, you'll find two bedrooms and a bathroom.

Cheap homes for sale UK

It's no secret that the interior needs modernising, however, after a facelift, this unassuming house has the bones to be a wonderful home for first-time buyers or a lucrative rental prospect.

Ready to take on a project? You can snap up this terraced home via Auction House, with a guide price of £20,000.

One-bedroom apartment, Greenock, Inverclyde, £18,000

Cheap homes for sale UK

Located on Ardgowan Street in Greenock, this modest one-bed flat is an ideal first buy for young professionals in the area.

Comprising a reception room with a kitchen, bedroom and shower room, the home is in good working order. Deceptively spacious, the property may require a refresh and some work, but nothing too costly.

Cheap homes for sale in the UK

Situated close to local amenities, the sale also includes a valuable parking spot and use of a well-maintained communal garden to the rear. 

Independently valued at £28,000, the bargain price tag could be a real steal for one lucky buyer.

This compact property is currently listed with Springbok Properties with offers in excess of £18,000.

READ MORE: Dirt cheap abandoned home that'll make perfect fixer-uppers


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