5 of the world's cheapest homes.

Everyone is looking for a bargain when it comes to property. They want something that is a 'steal' which provides exceptional value. Unfortunately this can be hard to come by, so we have collected the ten cheapest homes in the world and provided a little insight on why they may be good value. If you can't crack Australia's property market, maybe you need to look a little further out? (All prices below are in AUD)

1. Solid home in Skibbereen, County Cork. Price: $51,000


Why this is a good deal:

Whilst this was initially a tram station, there are many positives to this home. It was built in 1935, so it has a strong heritage and is definitely sturdy as it has stood the test of time. It's also in a peaceful area so you can use it as a holiday home. 

2. Shack living in St Petesburg, Florida. Price $106,000

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Why this is a good deal:

Beach living, you can't go wrong with a bit of sun. This is in prime location with an abundance of bars, shops and cafes and would be a perfect rental as you would get holidayers wanting to stay all year around. You are in prime position with Tampa not far away, and abundance of water and beaches on offer. 

3. Beach side palace on the coast of Albania. Price $60,000


Why this is a good deal:

The Mediterranean is the hot spot, and if you can't afford a beach side palace on the beaches of Greece or Croatia then Albania could be the next best bet. For a bargain of $60,000 you can own your own slice of paradise. Considering this is cheaper than some first class airfares to Europe, you could be on to something. 

4. Outer suburbia escape in Victoria, Australia. $79,900


Why this is a good deal:

If you want to stay in the lucky country, then maybe all you need is a country escape? This simple home with a great landscaped garden is located in Murtoa, Victoria. Whilst you may not want to commute to the CBD every day, with a 3 and a half hour journey each way, you may find the peace and tranquility is all you need. 

5. A little palace in Gary for $1


Why this is a good deal:

O.K - IT'S 1 DOLLAR!, I REPEAT, 1 DOLLAR. The reasons that this home is a good deal is that it is cheaper than:

  • A cup of coffee
  • A donut
  • A slurpee
  • A ride on Melbourne's trains
 Eating this will cost you more than the house. 

Eating this will cost you more than the house. 

 Thirsty? The cost of this slurpee could buy you a house. 

Thirsty? The cost of this slurpee could buy you a house. 

About the only thing it isn't cheaper than is Coles 0.85 cents bread, but when you're tossing up, a house vs a loaf of bread then surely it can't be a hard decision. The house does have its downsides though, to be eligible to buy it, you need to have lived in Gary for 6 months, have a few thousands dollars in savings, and renovate the property. Not such a bad deal if you plan on sticking around! 

Which cheap bargain would you snap up?

Let us know in the comments below.

About the Author:

Todd Schulberg

Todd Schulberg handles all things marketing for Homely.com.au - Living and breathing property, Todd has a keen interest in the movements in the market and how agents can utilise new tools and technology in order to be more connected. Using all things social, Todd suggests different ways that agents can engage and think outside the square with their marketing approach.

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