House for sale: Three bedroom house for just £48,000 on Zoopla – why is it so cheap?

House for sale: Three bedroom house for just £48,000 on Zoopla – why is it so cheap? 1152794

Britons know they’ll have to part with a lot of money when it comes to buying a new home. With house prices on the up, and first-time buyers finding it particularly difficult to get on the property ladder, those interesting in buying will be making sure they have as much funds as possible to secure their home. Cheap homes in the UK are hard to come by, so this property is likely to turn the heads of potential buyers, after it was listed on Hoopla for just £48,750. The huge property – which is located in Shrewsbury – includes three bedrooms, one of which is a master bedroom, a family bathroom, a lounge area and a kitchen/dining room with patio doors that lead out onto the garden.

On the ground floor, buyers can find the spacious living room, which has been decorate to a high standard with fresh white walls and plush grey carpet.

There is also a kitchen/dining room that has been decorated in a similar fashion, with light grey wooden flooring, dark marble counters, white wooden cupboards and stainless steel accessories.

Patio doors lead out onto the spacious garden, which is the perfect size for family BBQs.

Upstairs holds the master bedroom, with cited wardrobe, as well as two other bedrooms, which have all been fitted with the grey carpet.

Buyers, especially those with children, will benefit from its location, with two schools within close proximity.

So why is it so cheap?

One look at the description and the price will become clearer to potential buyers.

The property, which is part of a stunning development known as Hanwood Heights, is being offered for sale on the Shared Ownership Scheme.

Shared ownership schemes are a cross between buying and renting; aimed mainly at first-time buyers. Buyers own a share and then rent the part they don’t own at a reduced rate.

The description reads: “Part own your home – An excellent opportunity to purchase this brand new three bedroom semi detached on the stunning development Hanwood Heights situated in Hanwood.

“Offered for sale on the Shared Ownership Scheme which enables purchasers to start with owning 25 – 75 per cent of the property and paying a monthly rental on the remaining share We have been advised the monthly rental for a 25 per cent share purchase will be £309.36 and that the properties are leasehold with a monthly service charge £4.66”

The estate agents added: “We are advised the properties are Leasehold with a monthly service charge £4.66. The monthly rental payment on the remaining share is £309.36 We would recommend this is verified during pre-contract enquiries. Please note staircasing is restricted to 80 per cent.”

Another property was recently listened on the site for a shockingly low price.

A fully-furnished two bedroom apartment was posted on the site for just £16,000, which is less than a quarter of the average London deposit.

According to the Nationwide Building Society, a typical 20 per cent deposit in London was around £80,000 in 2018.


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