When it comes to buying a house, Britons know they’ll have to part with a lot of money. Cheap properties are not common in the UK, with new buyers finding it difficult to get on the property ladder. However a lovely two bedroom house was recently listed on Zoopla for just £40,000. The semi-detached home, which is located in Northamptonshire, includes two bedrooms, one bathroom, and a spacious reception area. On the ground floor, potential buyers can find a spacious lounge area, which doubles up as a dining room.
Next door sits the kitchen, which has been decorated in a trendy fashion with pastel green walls, stainless steel appliances and UPVC double glazed windows.
There is a cloakroom just in front of the stairs, which the potential buyer can use for storage, allowing for the hallway to be kept tidy.
Outside, the potential owners will find a small garden with some shrubs and a paved pathway leading to the front door with canopy porch. There is gated side access leading to the back garden.
The rear garden is timber fence enclosed with an easterly facing direction and has been nicely maintained by the owners. Mainly laid to lawn, the garden features paved and decking areas.
Upstairs, there are two bedrooms with fitted carpets and double glazed windows.
The bathroom has been fitted with a modern shower suite with a panelled bath, mixer shower, tiled splash backs, water closet, wash hand basin, UPVC double glazed window to the side.
The new owner will benefit from the property’s parking facilities, which offers off road parking for three vehicles.
So why is it so cheap?
The house is available on a 25 per cent shared ownership basis in conjunction with the Longhurst Group Housing Association.
Shared ownership schemes are a cross between buying and renting; aimed mainly at first-time buyers. Buyers own a share and then rent the part they don’t own at a reduced rate.
Harwoods estate agent have been advised by the seller that Spire Homes collect a monthly rent/service charge of £305.00 pcm .
They also warned customers that they’d need to check the working condition of any appliances if they were to purchase the property.
The ad read: “Please note that Harwoods have not tested any appliances, services or systems mentioned in these particulars and can therefore offer no warranty.
“If you have any doubt about the working condition of any of these items then you should arrange to have them checked by your own contractor prior to exchange of contracts.”
Is shared ownership a good investment?
Shared ownership schemes are a cross between buying and renting; aimed mainly at first-time buyers. Buyers own a share and then rent the part they don’t own at a reduced rate.
Shared Ownership Schemes have their pros and cons, as with many help-to-buy plans.
It allows for buyers to purchase a share of a home with a smaller deposit, however if property values increase they may find it difficult to buy the whole home.
Express.co.uk recently revealed how homeowners could add £25,000 to their home value by making subtle changes.
According to Residential People, making the right moves towards being more energy efficient could add thousands of pounds to the overall selling price of a home.