Houses for sale: Birmingham two-bed property on Zoopla for just £32,500 – why so cheap?

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The property is based in Winson Green, Birmingham, and comes with allocated parking.

The two-bedroom property is a Mid Terraced House and instantly stands out due to the guide price of just £32,500 on Zoopla.

This is a fraction of the price of other houses in the area and a flat in the area has just sold for £230,000.

It is also mentioned that a similar semi-detached house has recently sold for £110,000 in the area, so why is this property so cheap?

In the description of the property, it is quickly made clear that the asking price is the fee for shared ownership.

The house is on offer from £32,500 which will get the buyer a 25 per cent share in the property.

There is also the option for them to pay more and purchase up to 75 per cent of the house.

This scheme is described as ideal for anyone who cannot afford to buy a place outright.

On top of paying the asking price for the share, residents will be asked to pay a monthly rental cost on top of this.

For potential buyers, the additional monthly charge includes rent, buildings insurance, estate and management charge.

It does not cover any mortgage payments, although these are expected to be lower than average as the buyer will not need to borrow as much to pay for the share.

Any buyer tempted to make the purchase will find a downstairs cloakroom and WC when they enter the house.

The property also has a kitchen, living room, two bedrooms and a bathroom which includes a shower over the bath.

There is an electric central heating system installed, as well as flooring throughout and a rear garden.

Although the property is going for much less than market value, it is important that the buyer understands what the shared ownership will mean for them.

Another property that recently seemed to be on sale for a bargain price was a two bed property in Newcastle. 

The house boasted easy access to the city centre and is described as close to good local amenities.

The cheap guide price is because the house is on sale by online auction, so could go for much more depending on how things go under the hammer.

If looking to sell a home, one cheap trick could add thousands to the property value. 

Property guru Phil Spencer revealed that it’s all about what you do with your front door.

By making the front door smarter and more attractive you can increase the value of your home and get it noticed on the market.

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