Inside the family-sized homes under £100,000 around the UK

WANNABE homeowners looking to get onto the property ladder or families hoping to second-step to a larger house can bag bargain homes with £100,000 or less.
The average deposit in the UK is £232,710, according to the Land Registry's latest data from July 2019.

But it is possible to snap homes for less than half the price around the UK.

Granted, they're likely to need some work and you're probably not going to find properties for that price located in or around London.

But for those on a tight budget there are still options.

First-time buyers need at least a five per cent deposit, which in this case works out at £5,000.

And if you want to get a mortgage to cover the remaining £95,000 then you'll need to be earning at least £23,750 a year, or this figure combined if you're buying with someone else.

To help give you an idea of what's out there, property portal Zoopla shared its most viewed homes over the past month costing £100,000 or less.

Three-bed semi-detached house, Astley Bridge – £90,000

This family home just outside Bolton has been newly renovated and so would need very little doing to it before you moved in.

It has a driveway out the front, a good garden at the rear, and three nice sized bedrooms plus good living space downstairs.

The only catch could be that it is a leasehold property – and there is no indication how long the lease might have left on it.

When you buy a leasehold property you usually have to pay a ground rent and/or annual service charge to the freeholder – the person or company who owns the land your home stands on.

So look out for any dodgy clauses, such as doubling ground rents.

Three-bed semi-detached house, Willenhall – £100,000

Right at the top of the budget is this large family home near Walsall, complete with well-kept back garden for £100,000.

But beware – it is on at this price because it has only 38 years left on the lease, so you would need to find out how much it costs to extend the lease if you wanted to buy it – and any lease with less than 80 years left on it can be pricey to extend.

Also, it is unlikely you would get a mortgage for this property without extending the lease so you would likely have to buy in cash.

Three-bed semi-detached house, Liverpool – £100,000

This house needs renovating throughout, but could be a good buy for a small family or first-time buyers.

Do check whether it is a leasehold or a freehold ownership in order to avoid any surprise charges.

There is a lounge, dining room and extended kitchen, with three bedrooms and a bathroom upstairs.

Outside, there is a driveway and gardens to the front, side and rear.

Three-bed terrace house, Birmingham – £80,000

This house needs a bit of love – but has the potential to be a great family home or a solid investment for a first-time buyer.

There is a huge master bedroom upstairs, plus two more decent-sized bedrooms, and downstairs there is a separate bathroom and toilet.

It is a leasehold property, with around 80 years left on the lease, so it might be worth finding out whether the lease could be extended before you buy.

Plus, you would have to factor in a ground rent cost of £750 a year.

What if I want to buy a leasehold, what should I look out for?

ANDREW Johnson, money expert at the Money Advice Service has some tips on what to consider before buying a leasehold.

  • Check how many years are left on the lease. You may struggle to get a mortgage on a leasehold property which has less than 80 years to run. A short lease will be a lot more expensive to extend.
  • Ask about the cost of extending your lease now if this might be an issue in the future. You don’t want anything that could impact your property's saleability in the future.
  • Ask how much the ground rent is. This may be a relatively small amount now but beware escalating ground rents which have seen substantial figures payable at the end of the term of the lease. This could negatively impact your ability to sell your property in the future.
  • Ask about service charges and other related costs. This generally covers repairs or maintenance to the property including building insurance. This can be several hundred or several thousands pounds, so consider how you will budget for these costs and the impact of any future increases.

Two-bed semi-detached house, Wednesbury – £100,000

In the West Midlands, £100,000 could buy you this two-bed semi with a driveway and a long rear garden.

The interior looks in good condition, with a modern kitchen and bathroom, and it is not in a chain, but it is not clear whether it is a leasehold or a freehold house.

This could be the perfect house for a couple looking to do a small amount of work on a house, but who are not up for a huge project.

Three-bed semi-detached house, Arnold – £90,000

This family home looks like it has loads of potential, with good-sized rooms and a nice garden which could be inviting and homely with a little redecorating.

But the listing specifies cash buyers only, suggesting it is either a leasehold property with a short lease, or has another problem which means mortgage companies will not lend against it.

Either that or the seller is keen for a quick sale, so check first.

Three-bed end of terrace house, Plymouth – £80,000

The estate agent hasn't provided any internal photographs of this house, and they suggest it might be good for someone who wants a project, so we suspect it is in need of some TLC.

But with a large reception room, separate kitchen, utility room, three bedrooms, bathroom and separate toilet, plus both front and rear gardens, the house is not lacking in space.

This freehold property is located in the popular area of Pennycross in Plymouth and is being sold with no onward chain, which could make for a less complicated process.

Two-bed terrace house, Glasgow – £40,000

In Scotland, this mid-terrace house is located towards the end of a cul-de-sac within the popular residential area of Parkhouse.

The master bedroom is a good size, but the second bedroom is quite narrow – so it might be worth checking how your furniture would fit in.

But the property needs overhauling internally, although it does come with a parking space and a garden.

You should also check whether the property is leasehold or freehold.

Two-bed terrace house, Birmingham – £89,999

A major benefit of this freehold Birmingham property is that it is not too far from the new High Speed Two train station at Curzon Street.

It needs stripping out and renovating inside, but it has two reception rooms, a kitchen and a toilet on the ground floor, plus two bedrooms and a bathroom on the first floor.

There is also a garden which, with a bit of tidying, would be great for kids.

Three-bed end of terrace house, Maesteg – £45,000

This sweet end of terrace property needs overhauling inside, but has tonnes of potential.

With a large kitchen diner, plus a separate dining room and lounge, and three decent bedrooms, it could be good for a first-time buyer.

It is also freehold and has no ongoing chain – making the sales process easier.

This first-time buyer lived with his family for eight months after getting the keys to his first home because he couldn't afford the £7,280 a year commute to work.

Meanwhile, first-time buyers using a Help to Buy equity loan are forking out up to almost 22 per cent more for homes than those who bought without one, it has been revealed.

But this 30-year-old from Somerset defied the odds of becoming a homeowner and now owns a property empire worth £1.5million.

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