If you had £60,000 to buy a property…..

[blublub]

…..anywhere in the country, where would you buy? It’s not a lot but it’s an opportunity I have been given, but I have no idea. Where would you buy?

I do agree with @berlinbaby2025 about houses keeping their value better, and if you could throw even 20000 at a mortgage you'd widen your options. But here's one you might get down to 60 - current decor has a certain mad charm for me

https://www.zoopla.co.uk/for-sale/details/71089449/

I think I would rather get a mortgage and a second job to pay it off quicker but if you want a house on a tight budget that’s not derelict

https://www.rightmove.co.uk/properties/165865385#/?channel=RES_BUY

I completely missed that was shared ownership! Sorry OP. Norfolk is great though.

I like that one!

I don't know Rotherham and still think in the case of OP that it's worth getting a small mortgage, but this looks OK for £60k and renovation costs wouldn't be that much, I think:

https://www.rightmove.co.uk/properties/166532735#/?channel=RES_BUY

Depending on your age , I think a mortgage of 40k would give you a lot more options.

I would not choose to live there.

This looks ok and a bit different:
www.rightmove.co.uk/properties/153548585

There are 112 properties under 50k (to allow for our offers over system) in my area on the West coast of Scotland. A couple of houses, some four-in-a-blocks. So there's plenty out there if you're willing to live on the blustery coast (you'd get your seaside town).

But you’ll have much more control being a mortgage payer of a property that will eventually be all yours than you ever are when you’re a tenant, even when the RRB comes into effect. Landlords are selling up in droves and so there isn’t as much out there to rent as there used to be, resulting in more competition for rentals.

These houses are cheap for a reason , either in very dodgy areas or in the middle of nowhere with no facilities or decent shops and very poor transport links and not much in the way of employment .

https://www.rightmove.co.uk/properties/167807270?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY Yesss a property search challenge! This is on a bungalow and yacht association site. It has a footpath running through which I have used many times, it’s a lovely place. Very close to the town but in a riverside and more rural feeling location. It’s an auction but you’d have 20 grand of wiggle room so hopefully even some left over. Site is open 8 months but bungalows can be occupied for 12 months ( I think it must mean clubhouse is closed for a few months of the year). It’s not crowded, bungalows are spaced out and there’s lots of green spaces in between. Downside is there’s a small annual fee for the maintenance.

There is a massive difference.

When renting, you are never going to own the property and be free to do whatever you want to it.
When buying (with a mortgage), you can do what you like to the property (within reason) and know that one day it will be yours. Most start with a 25yr mortgage (although I know longer terms are becoming more common) but I don't know anyone who didn't manage to knock off several years. Even small overpayments can make a significant difference and before you know it, you are a home owner rather than a home buyer.

The 60,000 is a fantastic gift. I really would top it up a bit though if possible, to widen your options. I say that as someone living very happily in a small terraced house in an area some might disparage. It just locks you out of so many options, especially for houses,not to add a small mortgage.

But if you really don't want the mortgage you will be able to find something.

I’m amazed at what 60k will buy in the north.

We are SE, and have just had quotes for a garden room, all of which are over 60k. 🥴

https://www.rightmove.co.uk/properties/168638585

https://www.rightmove.co.uk/properties/156251261

It’s a retirement apartment.

They’re not all. The apartment above me has just been listed (ok it’s auctioned) starting price 55k
I live 5 mins from Lidl and the M6
10 mins into the city, train station, Aldi, retail parks etc

i think the service charges are putting people off but they’re fairly standard, and the kitchen is v dark wood plus needs new flooring but it’s a decent place with only 6 apartments in

Burnley

For sale by Auction.
It'll go higher.

lol

Just wanted to mention there’s more opportunity for annoying noise when living in flats compared to living in houses. Look for an end terrace.

First time buyer I take it?

I was on the wrong thread and edited my comment, wasn’t expecting anyone to quote me so soon!

Originally I said there’s stamp duty to pay which @stillhiding1990 points out isn’t applicable here.