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

Struggling to get a foot on the property ladder? You could own one of these homes outright for less than the average UK deposit...

For many first-time buyers, finding an affordable 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 there are plenty of homes out there on the market for under £20,000, you just need to know where to look.

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 or less...

Two-bedroom terraced house, Middlesbrough, £16,000

Situated on Portman Street, this terraced home is ripe for renovation. Image: Pattinson/Zoopla

Yes, you read that right – a whole house for just £16,000! The redbrick mid-terrace property sits on Portman Street, close to Teesside University in Middlesbrough, so you certainly won’t be short of tenants if you're looking for a reliable rental.

Inside, the kitchen and bathroom could do with replacing, while the bedrooms are a generous size but urgently require a refresh. For the right investor, this would make a very rewarding project.

The dated living spaces need revamping for modern living. Image: Pattinson/Zoopla

Prepared to put in a bit of elbow grease? This promising property is listed for online auction on the 14th April, with a guide price of £16,000.

Three-bedroom flat, Ayrshire, £12,000

This airy apartment could generate a healthy rental income. Image: Future Property Auctions/Rightmove

It's certainly in need of some love and a few essential repairs, but this promising flat doesn't seem to be in a bad way at all. Located on the top floor, the living areas are spacious and airy, enjoying far-reaching views over the shared gardens.

Accommodation includes an entrance hall, living room, bathroom, a kitchen/diner and three bedrooms, with parking found to the rear. This would be ideal as a family home, but those looking to invest could expect to net an average of £350 per calendar month, according to the listing.

Picturesque views can be glimpsed from the kitchen window. Image: Future Property Auctions/Rightmove

If you're keen to transform this generous flat, check out the listing from Future Property Auctions on Rightmove.

Two-bedroom terraced house, Rhondda Cynon Taf, £20,000

If you're feeling brave, this fixer-upper could be the perfect project property. Image: Auction House

It might be in dire need of sprucing up, but this mid-terrace property could provide a fantastic opportunity for a business-savvy buyer looking to flip a fixer-upper.

The rather dated interior is shabby and requiring renovation, comprising an entrance hall, open-plan living room/kitchen, two bedrooms and a bathroom.

Close to a range of amenities, it's located in the town of Tonypandy and also has good road links into Cardiff. This is one bargain that won’t stay on the market for long!

Inside, the interior walls look to be affected by damp. Image: Auction House

The lot will go under the hammer with Auction House on the 1st April at The Village Hotel in Coryton, with a guide price of £20,000.

Two-bedroom flat, South Shields, £15,000

The redbrick property offer an array of attractive period features. Image: Auction House

With a guide price of just £15,000, this smart three-bedroom flat in South Shields is packed with character. Complete with bay windows, cornicing and a feature fireplace in the living room, the property has the bones to be a fine family home or a lucrative rental project.

Located on the first floor, the home has a large lounge, a fitted kitchen, three bedrooms and a bathroom that could do with retiling. Prepare to get your hands dirty getting it fit for purpose though, as it's been left in a less than perfect condition.

The living room is bathed in light from the expansive bay window. Image: Auction House

If you're looking for a project, the flat will go up for auction with Auction House at Ramside Hall Hotel in Durham on the 21st April.

Three-bedroom semi-detached house, Middlesbrough, £20,000

This bargain property could make a wonderful family home. Image: Allsop

This sizeable semi-detached benefits from its own front and rear gardens, as well as off-street parking. With two reception rooms and a kitchen on the ground floor, plus two bedrooms and a bathroom upstairs, you get a whole lot of house for your money.

It's no secret that both the interior and exterior would benefit from a facelift – and perhaps some curtains in the lounge – but it won't take much to get the property looking spick and span.

The successful buyer will need to carry out an interior overhaul. Image: Allsop

If you’re searching for an investment, the home will go to auction on 31st March with Allsop with a guide price of £20,000.

Two-bedroom terraced house, County Durham, £20,000

Located in County Durham, this distinctive property features a quirky, colourful facade. Image: Auction House

This small home certainly stands out on Sixth Street, with its striking grey and red exterior. Less thought has been given to the interior design it seems, as most of the rooms could do with a lick of paint and a thorough modernisation.

On the ground floor is the lounge and kitchen, which offer access to the rear yard, while on the first floor you'll find two bedrooms and a bathroom. With ample space throughout, this would be a wonderful first home for the right buyer.

Inside, the old fashioned interior needs work to bring it up to date. Image: Auction House

Ready to take a chance on a fixer-upper? The house will go under the hammer with Auction House on the 21st April at Ramside Hall Hotel, Durham.