“Properties for less than 20k, are you serious? Didn’t you forget a 0?”
That’s the usual response telling someone about the website propertyunder20k.com. It even seems a stupid idea in the first place to make a website that only lists properties that are that cheap. Most people would think there will not be many ads that fall in this category.
Therefore reaching more than 1,000 ads now seems surprising but proves the makers right. Over the past years a nice balance between advertisers and possible buyers who visit the website on a regular basis was reached, resulting in continues growth. One can even create an email alert to be notified if a new ad that meets the specifications is placed.
Granted, as the price tag is really low many ads feature properties in countries where it’s cheap anyway, such as Bulgaria. But you might find some Bargains in other countries as well such as Italy, Portugal or Germany. Those might be a good start for someone who wants to jump onto the property ladder. You can see all properties on a map which gives a nice overview of what’s available.
Of course the price sometimes suggests that there is something wrong with the property. Therefore it is good to make your homework: see other houses and prices in the area, make sure all services are connected to the property and there are no structural issues etc. The buyer should go to view the property before making a commitment of some sort. But in most of the cases the property needs just some DIY and TLC.
Especially those “bargains” in countries that are well-off usually need some work before they can be lived in, rented or sold with a profit. One does well to find out how much exactly is involved and if it can be done easily by him because labor is usually the most expensive to bring a house back in shape.
The bottom line is: There are a lot more affordable properties out there than one might believe and propertyunder20k.com is a good website to start looking for them.
If you have one for sale you are welcome to list your properties for less than 20k as well, it’s for free.