Properties in rural and coastal locations have seen their desirability soar during the pandemic as people seek out more space.
It means values have increased significantly in these areas as demand has outweighed supply.
As such, it has made it challenging to purchase in some of these places, so it may be a surprise to find any local properties that have a lower-than-expected price tag.
We highlight some renovation projects – including this one in Cornwall (scroll down for more details)
We hunted down some examples of properties listed on website OnTheMarket that are in desirable coastal and rural locations such as Cornwall and Devon, with price tags of between £240,000 and £500,000.
However, all of the buildings are in a state of significant disrepair as they are renovation projects that need deep pockets in order to transform them into habitable family homes.
1. Five-bed house, Cornwall, £500,000
This Grade II-listed renovation project in Cornwall was once a monastery, but could be transformed into a conformable home.
It is believed to date back to the sixteenth century, and is 1.5 miles away from the village of St Keverne, near the town of Helston.
This Grade II-listed renovation project in Cornwall’s St. Keverne is for sale for £500,000 via Clive Pearce estate agents
The property is in need of renovation and has a partially converted annexe and studio, along with just under 3 acres of land
Having previously been a monastery in the 1500s, the property now has an entrance hall which leads to a lounge, kitchen, dining room, utility room, and cloakroom on the ground floor. It needs completely renovating to make it habitable.
Upstairs, there are five bedrooms, along with a bathroom and shower room.
The outdoor space boasts an impressive 2.7 acres of fields beyond the walled garden – a feature that will appeal to buyers during the past year of the pandemic.
The property is believed to date back to the sixteenth century, and is 1.5 miles away from the village of St Keverne, near the town of Helston
In addition to the main accommodation, there is a separate studio and a partially converted annexe, providing extra space for new owners to utilise as they see fit.
Helen Whiteley, of OnTheMarket, said: ‘As well as being in a hugely desirable location, this Cornish property exudes great charm despite needing renovation and therefore promises to be a wonderful home for new owners who are ready to embark on their next project.’
Clive Pearce, of the eponymous estate agents in Truro, said: ‘From the exposed wood ceiling beams to the exposed internal brickwork, this farmhouse is certainly full of character.
‘While there is a great deal of work to be done, this largely blank canvas offers lots of potential for new owners to really transform the property into their very own piece of Cornish paradise surrounded by outdoor space galore.
‘The beaches of Porthallow and Porthoustock are just 1.5miles away making this location perfect for enjoying peaceful, rural living.’
2. One-bed house, Devon, £240,000
This Grade II-listed thatched cottage is in the village of Lynton on the Exmoor coast, North Devon, and is for sale via Exmoor Property for £240,000
On the ground floor, the stable-style front door leads to a cosy living area and open-plan kitchen space
In the village of Lynton on the Exmoor coast, North Devon, sits this enchanting Grade II-listed thatched cottage – although this could mean some challenges when it comes to certain aspects of renovating.
The almost fairytale-like exterior boasts plenty of character as its undeniable charm certainly makes for a warm first impression.
Inside, the largely blank canvas is ready to be renovated to the new owner’s unique style.
On the ground floor, the stable-style front door leads to a cosy living area and open-plan kitchen space behind which there is a room that’s ready to be transformed into a bathroom.
Meanwhile, on the first floor the well-sized master bedroom has French doors that allow for the potential to place a balcony beyond.
As well as benefiting from garden space outside, the cottage is a short distance from Exmoor National Park making it an ideal spot to enjoy long walks with moorland views.
Helen Whiteley said: ‘This characterful one-bedroom hideaway has the potential to become an absolute gem in the right hands. Its bijoux charm together with its fantastic location and very private garden are all likely to make it highly sought after by those seeking either a second home or commercial opportunity.’
Greg Lang, of Exmoor Property Lynton. which is handling the sale of the £240,000 property, said: ‘There is a real ‘wow’ factor with this property. It’s like someone dropped Hansel and Gretel’s cottage into the Exmoor National Park.
‘It’s finished to builders “first fix” so the new owners can put their own stamp on the interior to make this property a unique retreat for themselves or a profitable holiday let.’
3. Farmhouse, Wales, £250,000
This traditional Welsh farmhouse is in the hamlet of Rhydrosser, Llanrhystud, and is for sale for £250,000
Make a bid! Best offers are being invited by midday this Friday via estate agents Morgan & Davies
The ‘race for space’ amid the pandemic: The property enjoys extensive rural views with a glimpse of the sea in the distance
Located in the hamlet of Rhydrosser, Llanrhystud, in a valley setting surrounded by mature trees is this traditional Welsh farmhouse ready for complete renovation.
As well as benefiting from 14.3 acres of unspoilt land, the property enjoys rural countryside views and glimpses of the sea.
Although as it currently stands the property is an ambitious renovation project, there are two ground floor rooms with original fireplaces as well as a former bedroom.
As well as the main farmhouse, there is also a separate stone and slate barn, providing further storage or other additional living space, subject to the necessary planning consents. Although there are no mains services connected to the building, there is an old well and several natural springs located across the adjoining land.
Helen Whiteley said: ‘This property really is a blank canvas and the perfect opportunity for a buyer who is seeking a property that requires total renovation.
‘Although the farmhouse benefits from a private location, for every-day essentials everything you need is available in the nearby coastal village of Llarnrhystud, including a school and small supermarket, golf course and leisure centre.
‘This means the new owner will benefit from both a glorious tucked-away location yet with amenities being conveniently close by, a combination that’s hard to find.’
Dylan Davies, of Morgan & Davies, Aberaeron, said: ‘With Cardigan Bay Coast just four miles away, this farmhouse is surrounded by natural beauty in abundance making it perfect for anyone looking to enjoy the country lifestyle in a property they can totally make their own after renovation.
‘The farmhouse is a truly rare opportunity to purchase a traditional country property which can be transformed into a new buyer’s dream rural home and is certainly an opportunity not to be missed.’