what could £140,000 buy you within 25 miles of where you live

[Cottagecheeseisnotcheese]

Inspired by million pound thread, I thought what if anything could you buy with 4 x the average full time salary (32,000) so 128K mortgage and a 10% deposit 13K = 141K call it 140 to allow for fees
90 minutes is considered the longest reasonable commute . So I thought what is the biggest accommodation you can get near you that is liveable ie no renovation just re-decorating the electrics and plumbing are safe not necessarily modern

2 Tesla's, but nowhere to park them

https://www.rightmove.co.uk/properties/139797020?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

This looks about the best. There are several 3 bed houses but the majority aren't in places you'd want to live.

Absolutely nothing! Maybe a tiny plot of land but even that would be pushing it.

That's about the average cost of a three bed semi in my estate.

I live in Wales and bought my house for exactly 140k. Semi detached, three bedrooms, kitchen, living room, dining room, back garden, front garden, large hallway,garage and driveway for three cars. Cul de sac location.

https://www.rightmove.co.uk/properties/141420548?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

https://www.rightmove.co.uk/properties/144904202?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

2 bed terraced that needs a bit of work. Exactly the same sort of house me and my boomer DH could afford when we got married and that was with two salaries and living at home with parents for two years to save the deposit.

One bef tiny flat

1 bed flat

A garage literally.

Shared ownership 1 bed flat. Live in cambridge.

so basically nothing you can own by yourself 🥲🥲

3 bed semi or a 5 bed flat above a curtains and cushions shop. Latter needs a bit of renovating but is actually really pretty.

You could live in this 3-bed although you would need to me good at tiling (and it's not nearby and not somewhere I would want to live): https://www.rightmove.co.uk/properties/143443979#/?channel=RES_BUY

Dropping down to 2-bed you could get one of a handful of perfectly respectable flats in not-terribly nearby areas (still mostly Torbay) although I'd probably be tempted to go for something bananaballs like this house in Tiverton: https://www.rightmove.co.uk/properties/143345207#/?channel=RES_BUY because I lack all common sense and always go for the weird ones.

None of those are particularly nearby or really in places I'd want to live, though. If I were younger and starting out now I'd probably be looking at 1-bed flats to keep me closer to my work/life. Not much use with a family, though.

A studio flat (with bed in kitchen) and visible damp above a grotty shop. South East.

3 bed terrace auction properties start at that price.
Otherwise a 2 bed flat like this (100 year lease and £2K annual service charge) https://www.rightmove.co.uk/properties/144444287#/?channel=RES_BUY

Offers over 130, 000 https://www.rightmove.co.uk/properties/144884045

Offers over 135 000 https://www.rightmove.co.uk/properties/85870407#/?channel=RES_BUY

I get a wide choice of 3 bed semis, and 3/4 bed terraces within 5 miles for under 140K.

In Manchester you'd get a 2 bed terrace in a scruffy and not sought after but basically safe bit of town. Or going the full 25 miles the same in a nicer suburb but a long commute from the city. You could get a third bedroom if you're extremely unfussy about the area.

1 bed flat in Liverpool city centre

Or

2 bed house in Wigan

Neither suitable for a family!

What this post shows is that people in these very cheap areas must wonder what the rest of us are going on about when we struggle to get a 3 bed semi under £500k

The problem is many people's standards of what they are ok with have gone up too and they just don't want a 2 bed terrace in a bit of a grim area- even if prices dictate that's what they can afford.

What this post shows is that people in these very cheap areas must wonder what the rest of us are going on about when we struggle to get a 3 bed semi under £500k

You may be surprised to know that people outside London and the South East have access to social media, news outlets and sometimes we even have colleagues, friends and family who live in London and the South East, so no, we don't wonder what people are going on about 😃

@BaroqueInterlude yep I'm aware of that but you would be amazed at the conversations I've had with especially with older relatives who don't keep up on such things, and think it's just London that has an issue. My FIL was looking to move nearer to us for a bungalow and now realises he can just about do it at a push but certainly won't make any money unless he has a flat .

@Crikeyalmighty yes it does show that in some places you can get virtually nothing but it also shows in many areas of the UK you can get an OK 2 bed room home for the price,
Where I live a couple both on minimum wage and full time can get a 2 bed terrace with garden and on street free parking the mortgage would be affordable but you would need to be very frugal for a quite a time to get the 5-10% deposit the local primary is fine and the secondary is in top third of schools in Scotland

@Cottagecheeseisnotcheese yep Scotland always seems remarkably cheap unless in the most expensive areas of Edinburgh and Glasgow