How Far Does A £250,000 Budget Stretch?

Many of us will have to make our budget stretch further even though we’re arguably living a more familiar way of life. But at a time where borrowing has been astronomical and businesses have had mixed fortunes, who has a spare £250,000 to spend?

Earlier this summer, we asked an expert to break down the ‘new’ stamp duty holiday. Under this tax break, existing homeowners can buy a new home worth up to £250,000 without paying stamp duty. 

But it still leaves questions:

• Just how far does a £250,000 budget stretch? 
• Is stretching your budget to buy a dream house possible?
• How many buyers will still be effectively priced out of the property market?
• And can I genuinely take advantage of this so-called extension?

Throughout July, we looked at properties advertised by a range of nationwide letting agents to see what £250,000 could actually buy you. So what’s been on the market for that price or less? A flat? A penthouse? Or maybe a three bedroom house? And what features do they offer? Here’s what we found:

Properties with gyms

In Leeds in particular, there have been properties on the market recently which include on-site gyms. Some flats, worth around £150,000, even have communal gardens and allotments as part of the package.

Central one-bed apartments

If you’re looking for a one-bed apartment close to a city, then Leeds and Sheffield might be good places to look. In fact, we spotted a property in Sheffield which was close to the city centre and Kelham Island for £119,000, less than half the £250,000 threshold.

Three, four or even five-bedroom houses

£250,000 or less can actually buy you a three bedroom house in Ashford (Kent), Liverpool, Sheffield and Leeds. For larger families, you can buy either four bedroom property in the LS12 area of Leeds or a five bedroom house on Anfield Road in Liverpool.

Two-bedroom homes

Liverpool is a hot area for buying properties with two bedrooms. We spotted a two-bedroom house on sale at £140,000 and a two-bedroom apartment at £210,000. This summer, we also saw a two-bedroom penthouse for sale in Canterbury and flats in Chatham and Edinburgh too. 

If you’re moving in the near future, get in touch with CBS Removals. Call us on 01480 220434 or email info@cbs-removals.org.