Six cheapest homes on the market where you only need up to £5,000 deposit | The Sun
BUYING a house is harder than ever during the cost of living crisis – but here's six homes that only require a £5,000 deposit or less.
House prices have rocketed since the Covid pandemic, with the average house price standing at £292,118 – up 15.5% since this time last year.
But the market is beginning to cool off as household budgets are being squeezed.
Rising prices and bills are eating into people's savings – meaning budding buyers are struggling to raise the cash needed for a deposit.
If you're thinking of putting your dreams of buying a house on ice, we round up six homes that you need just £5,000 or below in the bank for.
They are the cheapest properties listed on property portal Zoopla, excluding those listed for auction.
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Although £5,000 is still a lot of money to have spare when times are tight, this is considerably less than the £29,000 deposit you would need for the average property price.
You also wouldn't need to pay any stamp duty on these properties – they fall well short of the £125,000 threshold, meaning you won't have to pay a penny towards the levy.
Of course, you should always get a survey done on a property before buying it as it will show up any building issues.
This could save you from forking out potentially thousands down the line rather than discovering your home has faults with it after purchasing.