Bargain three-bed house for sale – but the owner wants to live rent-free

At first glance, this semi-detached property in St Albans looks like a real steal, however, it comes with one pretty big catch...

Sometimes when you’re searching for a property, you come across a deal that seems too good to be true.

A three-bed home for £350,000 in St Albans, Hertfordshire, where the average semi-detached property will set you back £638,442, is one such unbelievable bargain.

Unexpected extra

But of course, there's a catch. Would-be buyers will have to put up with a rather large (and inconvenient) proviso: the owner would like to remain living in the property... rent-free.

A similar property proposal was seen when an estate in France's Dordogne region was put up for sale for a snippet of the going rate, complete with its elderly owners.

However, unlike the French property, the St Albans listing offers no self-contained accommodation for private lodgings, meaning you’ll either have to contend with a housemate or live elsewhere. Either way, you'll be acting as a de facto landlord to the previous owner – minus the rental income.

This three-bed bargain house comes with a catch Image: Nicola Pulham/Shutterstock

The listing on Rightmove reads: “Calling all investors! Leaders are pleased to bring to the market this extended three bedroom (sic) semi detached house with garage and driveway. The current vendor would like to remain at the property rent free as a long term tenant.”

A risk worth taking?

Still, for £350,000 – over £200,000 less than the price of similar properties in the area – if you are prepared to wait, you could make a decent profit in the long run.

Located just a mile from St Albans train station, the house has been extended and comes with two reception rooms, a garage and a driveway, plus a decent-sized garden.

However, with no interior shots on the listing, nor any details regarding how long the owner is likely to want to stay or how the arrangement would work, you might want to book a site visit before you put an offer in.

Featured image: Rightmove