It turns out you don’t need a massive deposit to get on the property ladder.
Just make sure you move quickly.
This two-bedroom semi-detached bungalow in County Durham is going up for auction with a reserve price of just £1.
That means that if you’re lucky enough to get in there first, and no one dares to up the price, you could own a home for less than the cost of a Big Mac.
We reckon the sellers are hoping for a little more than £1, but they’re using this reserve to guarantee a quick sale and drum up some interest for the home.
The home originally sold for £49,000 in 2006, just to give you a sense of what it’s worth.
The property sits close to the centre of the former mining town of Shildon in County Durham.
Built in the 1930s, it has gas central heating, double-glazing throughout, and has been refurbished with new carpets and flooring.
As well as two bedrooms, a living room, and a kitchen, there are two outside toilets in original brick out-houses in the spacious back garden.
You could keep those as your outside loos, or perhaps turn them into a mini home office.
The bargain bungalow will go up for auction on June 30.
A spokesperson for Agents Property Auction, who are handling the sale, said: ‘This semi-detached property is available with no onward chain and is well located close to the town centre.
‘It is ideally suited to a wide variety of potential purchasers including first time buyers, down sizers and investors alike.
‘It has gas central heating via combi boilers and radiators, double glazing throughout and has a pleasant aspect to the side.
‘It has been redecorated throughout and has had brand new flooring recently installed.
‘At the back of the property there are two brick built outhouses which are useful for storage as well as a low maintenance garden.
‘Dalton Cottages is a mature residential area located a short distance from many local amenities as well as the Shildon Railway station.
‘The town centre is also a very short distance away which features a wide selection of facilities.’
Sounds worth £1 to us. Get your bids in.
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