It may sound too good to be true, but you can now buy a home for the price of a one carat diamond necklace.
A three-bed home in a quiet cul-de-sac is now up for sale for just £5,000.
The cosy terrace is located on Parker Terrace in Ferryhill, County Durham and is scheduled to go up for auction this month.
For the same amount, you could also purchase a rare breed of Bengal cat.
The North East family home isn’t short on space even though its price may be small. The home has three bedrooms as well as a bath and shower room.
There is even a garden to the rear and it’s within half a mile of three schools and one college.
One of the bedrooms is big enough to fit an office desk and a double bed and while it needs some updating and fixi, there is serious potential for a family to move in.
Even better, Parker Terrace is only a half hour’s drive from the scenic North East coastline making it ideal for long beach walks and summer day trips.
The home, managed by Royal Estates, is set to go under the auction hammer on April 19.
The estate agents describe it as an ‘investment property,’ which has the potential to be extended at the back. It is important to note that this is subject to planning permission.
The average price of terraced properties sold in Durham last year was £150,361, while the standard cost of a house on the same street was £56,000 as of December.
Meanwhile, a house in London would set you back an average of £715,000 according to Zoopla, while the national average price has risen to just under £280,000.
This means that for just £5,000, the home is a true bargain.
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