Buying A Property

Where Are The Cheapest Property Prices In The UK?

Mason Ward
Written by Mason Ward

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If you are looking for the cheapest property prices in the UK one must first determine whether they want a new home or are they willing to invest some time and money in having the home renovated and the facilities modernised and upgraded.

The second thing you want to do is find a mortgage broker. It is no good getting a good property deal if you are do not get a good deal on your mortgage! If you have never used a mortgage broker previously, you can think of him like a dating service. A mortgage broker will see what you are able to pay monthly by reviewing your finances and match you with a lender who will give you the best terms and rate depending on your individual circumstances.

The cheapest property prices for new homes in the UK can be found in Lancashire County in the towns of Blackburn, Blackpool and Oldham. Part of the reason for the low home prices may be the decision by some manufacturing companies to move their businesses out of Lancashire. For a couple who may be looking to buy their first home or for investors looking for properties that they can quickly rent out these towns represent strong options that should be considered.

While Lancashire County has some very low priced homes available on the market there are some homes that are even less expensive in Staffordshire County, Lincolnshire County and Merseyside. The issue with these homes is that they will require a large amount of renovations and modernising to make them liveable. These homes in their current condition could not be lived in but if a couple or investor were willing to allocate funds to improve the homes they could become good starter homes and exceptional rental units.

For example, in the town of Grimsby located in Lincolnshire County there are homes with multiple bedrooms available at incredibly low prices. The advertised price of these homes would be the equivalent of a down payment in many other areas of the United Kingdom. However, these homes are best suited for a couple that wants a first home that they can eventually use as a rental property or for an investor who wants to turn it into a rental property. These homes require extensive upgrades but if quality contractors who adhered to budget requirements performed the work an individual could easily earn back their investment over the course of two and a half to three years.

Liverpool is another area that has property available for very low prices and is experiencing a similar situation to that of Grimsby. If a young couple or investor is looking for property to buy at a very low price they should seriously consider the towns of Blackburn, Blackpool, Oldham, Staffordshire, Grimsby and Liverpool. These areas are all advertising properties ranging from one bedroom to three bedrooms at very affordable prices, which can be long-term income generators, or homes that a person will always be able to afford both in the short term or long term.

About the author

Mason Ward

Mason Ward

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