Getting on the property ladder can be difficult in the UK – especially with asking prices at a record high.
But a new bargain listing could be the perfect doer-upper for anyone willing to take on a hefty project.
An end-of-terrace property in Derbyshire is going under the hammer at starting price of £9,000.
Located at the junction between Mill Street and Canal Street in Ilkeston, the two-bedroom home is near the town centre and is less than a ten-minute walk from the train station.
The ground floor features a reception room, dining kitchen, utility room and a downstairs bathroom, whereas upstairs there are two bedrooms and a landing. There’s also a yard area to the rear of the property.
While the house has a gas-fired central heating system and UPVC double glazing, most other areas in the home need significant improvements and upgrades.
So new owners must be willing to get stuck in.
The lot will be up at Bond Wolfe’s auction starting at 9am on Wednesday October 20 – but anyone interested must pre-register to bid by Tuesday.
A spokesman for Bond Wolfe explains why properties, such as this one, have such low guide prices.
He says: ‘The guide prices are always an indication of the reserve price, this being the minimum price the property can sell for. The reserve price is a maximum of 10% higher than the guide price.
‘However, the extensive marketing campaign that we put behind our auctions can generate significant interest in a property. This can create competitive bidding, with the property selling for way in excess of the guide price.
‘In short, the property will be sold for the maximum price that someone is prepared to pay for it on the auction day.’
So while it’s listed for £9,000 – it might actually go for a lot more than this number.
It’s also worth pointing out that a considerable amount of money probably needs to be pumped into it – to make it liveable.
Elsewhere in the world of property, a woman has added £67,000 to the value of a run-down home in just one year with clever DIY hacks.
Also, you can buy a whole terrace of eight houses for £450,000 in Bolton.
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