10 Cheapest Properties in the World with Awesome Facilities

Cheapest Properties in the World

Have you been dreaming of buying a new home? Are you looking for some of the cheapest properties in the world?

Everyone wants a cut-down or a discount when it comes to buying properties. They want something of so much value at an exceptionally cheap price. Maybe to relocate or just to buy and rent out.

The coronavirus pandemic, although overwhelming and devastating, it has created opportunities for real estate bargains around the world and this is the best time to invest in properties either for your personal use or for business.

Also, the pandemic has revealed the possibilities of working from home or from anywhere, people are readily moving to different markets for different kinds of reasons – from affordability to climate, to ease of life every day and then for fun.

However, opportunities like this are rarely available but we have done some good job to put together 13 cheapest properties in the world. Truthfully, the properties we are about to list might not be the cheapest around the world but they are sure of value with awesome facilities.

Now, find the 10 cheapest properties in the world.

How to Buy A House and the Things to Consider Before Buying One

Decide Whether You’re Ready To Buy A Home

Are you ready to buy a new home? Why?

What is your income and employment status? Can you afford a new home at the time without referring yourself bankrupt?

Are you willing to live in one place?

Although you don’t have to live in your home for the rest of your life, you will agree with us that it is really difficult to move when you already own a home. Unless you are acquiring a second home.

Either way, decide if you can be willing to live in this new home you’re about to own for a few years.

Calculate How Much House You Can Afford

How much can you afford?

No doubt, owning a home is one of the happiest things that can happen to anyone. But you will agree with us that it comes with so many expenses and more than you won’t have to worry about while renting.

You will get to pay property taxes and maintain some homeowners insurance.

Can you afford all of these?

Compare rates and mortgage lenders and get pre-approved

When you’re ready to begin looking at homes and evaluating home prices, consider multiple mortgage lenders. Comparing rates from various lenders lets you make the most educated choice and find the best deal.

Once you choose a lender, ask for a preapproval letter. This preapproval usually involves answering some questions about your income, assets and the home you plan to buy.

This preapproval also involves a credit check. It will help set your home offers ahead of those who are bidding without preapproval. Your lender may approve you for more money than you anticipated, and it may be tempting to go over your original budget. Know your limit beforehand to avoid buying a home you can’t afford.

Your mortgage broker will look at your credit score, credit history, and income when determining how much they’ll let you borrow.

Find The Right Real Estate Agent For You

Your real estate agent is your representative in your new home purchase transaction. Their role is to look out for your best interests by discovering homes that meet your criteria, get you showings and help you write offers and negotiate.

Basically, real estate agents are local market professionals.

In most cases, you can work with a real estate agent for free because the seller pays a buyer’s real estate agent’s commission which is often 3% of the purchase price.

However, it is possible to but. a house without a real estate agent or a realtor but we do not recommend this – whether you are a first or second-time buyer. This because the home buying process can be quite emotional and complicated and having an agent can help you in more ways than ten.

If you’re wondering how you can real estate agents, you could begin by asking for recommendations from your friends and family.

Now Begin House Hunting

Importantly, be flexible when shopping for your new and perfect home. Before you begin, make a list of things that you want in your new home and that way, it will easier to not settle for less than what you want.

However, make this list depending on your budget because it is first of all what your real estate agent will bank on while finding you a home.

Here are some things you might want to consider when shopping for a house:

  • Price
  • Square footage
  • Home condition and the possible need for repairs
  • Access to public transportation
  • Number of bedrooms
  • Backyard/swimming pool
  • Local entertainment options
  • Local school district ranking
  • Property value trends
  • Property/real estate taxes

Know which of the specifications is more important to you and the ones you can’t do without so you don’t end up settling in a home you may never like. Keep searching no matter how long it takes until you find your perfect home.

However, when you find one, ensure you look at some others to make your perfect choice. Once you have finally chosen one that you like, the one that fits your needs and budget, it’s time to make an offer.

Make An Offer On A House

Now it’s time to make an offer on a house. Submit your offer letter in writing either by you or your real estate agent. The letter should include your details, your budget and a deadline before you begin to look elsewhere. The trick is to get the seller to respond as quickly as possible and then your agent stays in contact with the seller.

And from here, the seller can respond in one of three ways:

The seller can accept the offer: If the seller approves the offer, you can move onto the next step.
Or reject the offer: If the seller refuses your offer, you can decide to submit another offer or move onto another home.
The seller can give you a counteroffer: The seller can also come back with a counteroffer of their own. This might involve changing the purchase price or the terms of the sale. And you can either accept the counteroffer, reject it, or make another counteroffer.

Meanwhile, negotiations may go on for some time after your offer letter is submitted. And here, you should let your real estate agent manage the negotiations.

You can look elsewhere if no agreement is reached, but if not, it is time to move on to the appraisal and inspection.

Get A Home Inspection

You should still get an inspection before you buy a property.

This involves an inspector going through the home and precisely looking for problems. They will test electrical systems, the roof, the appliances and much more. And after the inspection, the inspector will give you a list of problems in the home.

Go over the problems and when you find serious health hazards, contact the seller to correct them. Make sure you go over this with your real estate agent before your sake closes if not, you will be the costs of any major repairs and no longer the seller. And if your inspector finds some major problems in the home, you might want to look elsewhere.

Get A Home Appraisal

A home appraisal is a review or an analysis that gives the current value of the property you want to buy. You need to get an appraisal before you buy a home with a mortgage loan.

Ask For Repairs Or Credits

Ask your seller for repairs for the problems in the house. You can do this in three hours:

Ask for a discounted purchase price analyzing the results.
You can propose that the seller give you credits to cover some of your closing costs.
Or you can ask that the seller have the problems fixed before you close.

Either way, your real estate agent will submit your requests to the seller’s agent.

Do A Final Walkthrough

You should do a final walkthrough in your new home before you close and it doesn’t matter if you’re 100% committed to the property.

This is to ensure that your seller has completely made the repairs and cleared out their properties too.

Having checked the repairs thoroughly, if everything looked good, then it’s time for you to move toward closing your sale.

Close On Your New Home

Close on your new home. Review your closing disclosure, attend your closing meeting with your ID, a copy of your closing disclosure and proof of funds for your closing costs.

You will be required to sign a settlement statement that lasts all costs related to the new home sale. This is now when you have to pay your down payment and closing coats. You will also be required to sign the mortgage note which states that you promise to repay the loan – if you got a loan.

And then you will sign the mortgage or deed trust to secure the mortgage note. And after closing finishes, you’ve officially become a homeowner!

Having understood the things to consider before buying a new home and how, let’s get into the 10 cheapest properties in the world.

10 Cheapest Properties in the World.

Cheapest Properties in the World 1: 7 Centre Court MHP, Drayton Valley, Alberta in Canada

This property is in an area of 980 Square feet. It has three bedrooms and a bathroom the new owner can breathe some life into their taste.

The property is with colourful walls and a semi-furnished kitchen. However, this property can be designed into the home of your dreams. And it goes for $7,500 – asking price.

House to renovate with a small garden and a well in Exideuil, France

This property is situated in a calm hamlet near Exideuil. It has a kitchen, a living room, a bedroom and a shower and WC. Also, the property has an attic space and a small garden with a well.

However, the property requires renovation and also, the installation of a septic tank. Nevertheless, it is immediately habitable.

The property has a total plot of about 160m2 and it goes for €14,000.

Cheapest Properties in the World 2: 2 Heritage Estates MHP, Kindersley, Saskatchewan, Canada

This property has a size of 1,088 square feet. It has three bedrooms lit with natural light from the big windows spread throughout the property. These bedrooms and the living room have built-in storage areas.

However, the property construction is almost half a century, its interiors are great, colourful and welcoming. It goes for an asking price of $9,000.

Cheapest Properties in the World 3: 5 Radar Parent, La Tuque, Quebec, Canada

This property brings you closer to nature and tranquillity. It posses over 7,800 square feet of space in an ideal Canadian area. With two bedrooms and a bathroom, it is situated in the calm Parenthood neighbourhood in Quebec.

It could serve as a getaway spot but if you have ever desired to own a single-family home, then this is for you.

The property goes for an asking price of $14,000

Cheapest Properties in the World 4: 2 acre Land in the Countryside near Châteaumeillant in France

This property is located about 5 minutes from Châteaumeillant; a small country with a supermarket, banks and restaurants. Also, the property is suitable for horses and any other leisure pursuit.

It goes for €7,950

Cheapest Properties in the World 5: 2-bedroom house to be renovated with a barn in France

This property is located in a small hamlet. It is a two-bedroom house with a kitchen on the ground floor with a lounge and a vast separate room with a fireplace.

However, the property will require a complete renovation as it has the potential to expand into the attic.

The property goes for €13,000

Cheapest Properties in the World 6: Townhouse and land in the Douro Valley

The Townhouse and land in one of Portugal’s most beautiful region – Douro Valley is a colourful townhouse located in Santa Marinha do Zêzere. It is a two-bedroom house surrounded by 2,320m2 of land and it has fantastic views from the hillside position to the countryside.

This property goes for €50,000 and although it is certainly worth it, it definitely will do great with a bit of work.

Cheapest Properties in the World 7: Renovated village home in Normandy, France.

This property is a stone-built property that has currently gone through some renovations. These innovations would include new writing, double-glazing, and a new kitchen and bathroom. In fact, the property has undergone a complete structural renovation.

It has a large garden at the back with lots of space for a terrace or BBQ and if you ever need to rush down to the local shops to get some groceries, it is only a few minutes walk.

This property goes for €54,000.

Immaculately restored cottage in Normandy, France

This is one of the cheapest properties in the world. It has a lot of period features like the exposed beams and the ornamental fireplace I’m the living room. And it is closest to the medieval towns of Domfront and St. Hilairedu Harcouët.

The property has been currently renovated by the present owner. Now, it has all amenities and the basic provision of light and airy accommodation with an open plan living space on the ground floor.

It is in Le Teilleul and it does for €59,500.

482 Rue St-Francois, Saint-Theophile, Quebec, Canada

This is another one of the cheapest properties in the world. It is a large 10,579 square feet property that needs renovation. It has some roughness and a bit aged around the edges, nevertheless, it has an interior with the potential to be designed into a complete beauty.

The property has a large spaced living room and a kitchen with a central fireplace. It also has one bedroom on the first floor and another in the attic. There’s also an additional room that can be designed into a closet or another bedroom and all of these goes for an asking price of $15,000.

238 Saskatchewan Avenue, Kerrobert, Saskatchewan in Canada

This property is on the list of the cheapest properties in the world. was recently renovated with fresh interior designs; a painting and a lattice deck railing.

It has 2 bedrooms and a bathroom and it goes for $19,000.

202 Saskatchewan Avenue, Liberty, Saskatchewan

This property is a bungalow with an interior designed with wooden walls and details. It has 3 bedrooms and one bathroom with appliances such as a refrigerator, a washer, stove and dryer.

It also has a gravel parking area for two cars. However, with a bit of TLC, you could turn this property into a home anyone would be proud of.

The asking price for this property is $19,900 and this includes all the appliances.

26 Stannix Street, McAdam, New Brunswick in Canada

This one has a size of 7,600 square feet of land. It is surrounded by trees and has easy access to municipal water and sewer and the property features of a large home.

Meanwhile, it is a home from the 1920s whose new owners can design into a beautiful getaway or retirement home and it goes for an asking price of $15,000.

It is one of the cheapest properties in the world.

35 Hicks Lane, Lower Queensbury, New Brunswick, Canada

This property is a single-family home with a vinyl exterior, a sunroom and a fully equipped kitchen and bathroom. It also has 3 bedrooms too and it goes for $15,000.

207 Miller Street, Lipton, Saskatchewan, Canada

This property is a great deal for people looking for a new home on a budget. And also, people looking to get the creative freedom to completely redesign their home to their taste.

It is a house located in the calm community of Lipton and borders the beautiful valley north of Fort Qu’Appelle. This is where the new owners can enjoy amazing and impressive natural sports on sunny weekends.

However, it is a one-bedroom apartment with so much value and it goes for an asking price of $16,000. It another one of the cheapest properties in the world.

Conclusion

We hope we have gotten you ready on the journey of making your dream of owning a home come true with our list of cheapest properties in the world.

Remember the steps; set your budget right, get preapproved for a mortgage and then start shopping for properties with a trusted real estate agent.
Submit an offer letter when you’ve found your dream home and allow your age t negotiate with the seller.

And when you’ve reached an agreement, get an appraisal and inspection and if a major issue turns up, negotiate repairs and credits or you look elsewhere. If not, then do one more walkthrough in the new home after the previous series of walkthroughs to ensure everything is in order.

And if everything looks great, then move in and begin your journey of becoming a homeowner.

Congratulations!

FAQs

What are the things to consider before shopping for a house?

Here are some things you might want to consider when shopping for a house:

  • Price
  • Square footage
  • Home condition and the possible need for repairs
  • Access to public transportation
  • Number of bedrooms
  • Backyard/swimming pool
  • Local entertainment options
  • Local school district ranking
  • Property value trends
  • Property/real estate taxes

What is an easy way to become a homeowner?

  • Set your budget right.
  • Get preapproved for a mortgage.
  • Begin to shop for properties with a trusted real estate agent.
  • Submit an offer letter when you’ve found your dream home.
  • Allow your real estate agent to negotiate with the seller.
  • Get an appraisal when you have reached an agreement.
  • Get an inspection.
  • Demand or negotiate for repairs and credits if your inspection found a major issue or problem in the house.
  • Do one more walkthrough in the new home after the previous series of walkthroughs to ensure everything is in order.
  • Close on your new home, move in and begin your journey of becoming a homeowner.

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