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Harmony1
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#1
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#1
I have just finished my postgraduate study and I'm very happy about it. I do want to move out and I have some savings I really would like to buy a property rather than rent ... no matter how long it takes or where it is as I work from home. Can anyone recommend any places where I can find properties for cheap! Any online resources? How can I find houses for around £5,000 - £10,000 I know its a long shot in this market but I also know and heard it can be done... Any help and advice would be much appreciated.

P.S I've already looked at Zoopla and Rightmove. Looking for more niché/out there resources.

Cheers! 🙌🏻
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Reddy5001
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#2
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#2
(Original post by Harmony1)
I have just finished my postgraduate study and I'm very happy about it. I do want to move out and I have some savings I really would like to buy a property rather than rent ... no matter how long it takes or where it is as I work from home. Can anyone recommend any places where I can find properties for cheap! Any online resources? How can I find houses for around £5,000 - £10,000 I know its a long shot in this market but I also know and heard it can be done... Any help and advice would be much appreciated.

P.S I've already looked at Zoopla and Rightmove. Looking for more niché/out there resources.

Cheers! 🙌🏻
Congratulations on the postgrad!

If you're looking for properties with a 5-10K budget, there isn't really much out there in the property market as properties in your budget range may require quite a bit of work. There are property auctions but I'm not sure how likely you are to successfully find a decent property.

A few years ago, Liverpool did something where they sold a bunch of unused houses on a street for £1 each but they all had to be renovated by the purchaser. I haven't heard of any more schemes like this happening throughout the country sadly.

Once you get a job and are in it for at least a year then you should be able to get a mortgage based on your salary and then you can use that to buy a house. It mightn't be easy but I'd recommend living with family whilst you save some more money and get a job.

Equally, with 5-10k you could buy and convert a van to live in and do road trips as I heard of someone who converted a van for 10k.

I finished my undergraduate degree in 2020 and I am currently living with family. I'm saving money for a house but it'll be at least another 5 years before I'm ready to move out but that's just the way I've planned my budget.
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Harmony1
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#3
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#3
(Original post by Reddy5001)
Congratulations on the postgrad!

If you're looking for properties with a 5-10K budget, there isn't really much out there in the property market as properties in your budget range may require quite a bit of work. There are property auctions but I'm not sure how likely you are to successfully find a decent property.

A few years ago, Liverpool did something where they sold a bunch of unused houses on a street for £1 each but they all had to be renovated by the purchaser. I haven't heard of any more schemes like this happening throughout the country sadly.

Once you get a job and are in it for at least a year then you should be able to get a mortgage based on your salary and then you can use that to buy a house. It mightn't be easy but I'd recommend living with family whilst you save some more money and get a job.

Equally, with 5-10k you could buy and convert a van to live in and do road trips as I heard of someone who converted a van for 10k.

I finished my undergraduate degree in 2020 and I am currently living with family. I'm saving money for a house but it'll be at least another 5 years before I'm ready to move out but that's just the way I've planned my budget.
Ah some really great ideas there, I know my budget is quite low but i thought I'd give it a try haha 😅. I guess I'll wait till I've been in employment for longer and see what mortgage I can apply for. I like your plan! Maybe I should do the same thing as you 😄
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Reddy5001
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#4
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#4
(Original post by Harmony1)
Ah some really great ideas there, I know my budget is quite low but i thought I'd give it a try haha 😅. I guess I'll wait till I've been in employment for longer and see what mortgage I can apply for. I like your plan! Maybe I should do the same thing as you 😄
Thanks and it's worth a try but I doubt you'd find anything that you'd be able to live in (I saw a parking space down by the waterfront on rightmove asking for 17k :confused: haha). I'd say waiting until you've been in employment longer is the best idea. Thank you, it took a lot of time to figure out but it's good to do especially if you've got family (that you get on with) in the same place you're working in because it means you're not paying rent. I've also set up a rightmove account so I can save areas that I want to live in (I've got a few affordable areas by various coasts although others are way too expensive haha) I could also set up alert if I wanted to but it's too early for that
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Reality Check
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#5
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#5
(Original post by Harmony1)
I have just finished my postgraduate study and I'm very happy about it. I do want to move out and I have some savings I really would like to buy a property rather than rent ... no matter how long it takes or where it is as I work from home. Can anyone recommend any places where I can find properties for cheap! Any online resources? How can I find houses for around £5,000 - £10,000 I know its a long shot in this market but I also know and heard it can be done... Any help and advice would be much appreciated.

P.S I've already looked at Zoopla and Rightmove. Looking for more niché/out there resources.

Cheers! 🙌🏻
I presume you're talking about a deposit, rather than a sale price!

What area of the country?
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Harmony1
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#6
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#6
(Original post by Reddy5001)
Thanks and it's worth a try but I doubt you'd find anything that you'd be able to live in (I saw a parking space down by the waterfront on rightmove asking for 17k :confused: haha). I'd say waiting until you've been in employment longer is the best idea. Thank you, it took a lot of time to figure out but it's good to do especially if you've got family (that you get on with) in the same place you're working in because it means you're not paying rent. I've also set up a rightmove account so I can save areas that I want to live in (I've got a few affordable areas by various coasts although others are way too expensive haha) I could also set up alert if I wanted to but it's too early for that
As ridiculous as it may sound I believe that! parking is becoming harder to get up and down the country so I can see why someone would sell for that price Thank you for those tips. I didn't know you could save searches/places on rightmove I may have to start doing that and see if I can bag a bargain haha
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Harmony1
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#7
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#7
(Original post by Reality Check)
I presume you're talking about a deposit, rather than a sale price!

What area of the country?
Yes, and anywhere! Just want to find a bargain and get onto the property ladder. I live at home with my parents still so using this time to gain some knowledge about the best places to buy and save some £££
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Reddy5001
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#8
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#8
(Original post by Harmony1)
As ridiculous as it may sound I believe that! parking is becoming harder to get up and down the country so I can see why someone would sell for that price Thank you for those tips. I didn't know you could save searches/places on rightmove I may have to start doing that and see if I can bag a bargain haha
It does sound ridiculous and I thought the exact same thing when I saw it haha. Yeah it's good to sketch out an area as it shows all the properties within the area and it's useful for planning where you want to live. I consider local amenities such as transport links, shops and stuff to do when I'm looking at places. Even if you bag a bargain, it might require some work doing to it to make it habitable haha but knowing where you want to live is a start.

The BBC do an affordability calculator which is quite useful for finding where you could afford to live https://www.bbc.co.uk/news/business-23234033

Rightmove also have a mortgage calculator on their website where you can enter in your salary and expenses to see how much mortgage you could get
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Harmony1
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#9
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#9
(Original post by Reddy5001)
It does sound ridiculous and I thought the exact same thing when I saw it haha. Yeah it's good to sketch out an area as it shows all the properties within the area and it's useful for planning where you want to live. I consider local amenities such as transport links, shops and stuff to do when I'm looking at places. Even if you bag a bargain, it might require some work doing to it to make it habitable haha but knowing where you want to live is a start.

The BBC do an affordability calculator which is quite useful for finding where you could afford to live https://www.bbc.co.uk/news/business-23234033

Rightmove also have a mortgage calculator on their website where you can enter in your salary and expenses to see how much mortgage you could get
Oh amazing, thank you for this ... I really needed this! 😌 Anytbing you find helpful please send it my way
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Reddy5001
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#10
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#10
(Original post by Harmony1)
Oh amazing, thank you for this ... I really needed this! 😌 Anytbing you find helpful please send it my way
It's ok and if I see anything then I will. Also if you find anything that could be helpful then please send it my way
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Harmony1
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#11
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#11
(Original post by Reddy5001)
It's ok and if I see anything then I will. Also if you find anything that could be helpful then please send it my way
Of course!
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Surnia
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#12
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#12
(Original post by Harmony1)
Yes, and anywhere! Just want to find a bargain and get onto the property ladder. I live at home with my parents still so using this time to gain some knowledge about the best places to buy and save some £££
It's no good saying 'anywhere' as you need to think about where you could realistically get a job and it might not be where there are cheap properties!

You also need to take into account all the fees associated with buying somewhere, travel costs for work and social (public transport or car), utilities, personal expenditure (food, clothes, laundry, toiletries etc) and furnishing the place.
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