Yours for £20k: A UK home… with a catch

With the average UK property price now £233,000, the chance to buy a home for just £20,000 will have many house-hunters pricking up their ears.

The property in question, which is located in Warden Bay on the Isle of Sheppey, is technically within commuting of distance of London, with The Telegraph reporting that the capital is an one-hour drive away – a must-have feature on most property buyers’ wishlists.

For those not willing to make the drive, it is a 20-minute bus ride to the nearest train station, which sits on the line to Victoria, a ride that takes about 90 minutes.

Even better is the fact that the beach is on your doorstep, with Leysdown on Sea within walking distance, promising the fun of slot machines and fish and chips and, if it’s sunny, even the prospect of getting a tan.

Inside, the bungalow boasts a living room, a bedroom, a shower room and a kitchen.

The catch? Technically, the property is designated as a holiday home, which means that local laws decree it cannot be occupied for the whole year – it must be empty for at least two months of every 12.

For those looking for a place to relocate, or a way to move away from the costly capital city’s property market, the Isle of Sheppey getaway is a dream home, except for the fact that they can’t live in it. Two months’ coach-surfing on friends and family’s sofas, though, might make up for the £213,000 saving on a typical house price.

For overseas investors, on the other hand, the bargain bungalow offers a surprisingly profitable way to acquire a property to rent out to tourists, at far below the typical cost facing a landlord. To the average onlooker, this is a strange little cottage, but the bizarre property might just be the ideal buy-to-let investment.

Photo: Zoopla