A moldy 'potential flat' is being sold for £25,000.

When it comes to buying a new home, we all want to make sure that our hard-earned money is going towards a place that we can actually live in. So when a listing for a flat in Bristol caught our attention with its significantly lower price tag, we couldn't help but wonder: what's the catch?

Located in the St George area of Bristol, this flat is listed at just £25,000, which is a whopping £350,000 below the average price for a home in the area. According to data from Rightmove, the average price for homes in Bristol over the past year was £379,921, which is significantly higher than the nationwide average of £282,000.

At first glance, this flat seems like a steal. But upon closer inspection, it becomes clear that there may be some obstacles to actually living in this property. The listing describes the flat as a "potential flat" and advises interested parties to do their own investigations into whether it is habitable. This is because the mortgage broker has stated that they are unable to confirm if there is planning in place for a residential dwelling, making it impossible to obtain residential funding.

Clearly, this is a project for someone who is willing to put in some work. The walls are currently covered in mould, and while there are kitchen cabinets and a toilet in place, it's unclear if they are functional. The basement does have private access and some natural light, but there are also monthly management fees of £133. On the bright side, the leasehold is set at 999 years, so no need to worry about any surprises there.

This intriguing listing was shared on Reddit's SpottedonRightmove thread, a popular space for discussing unique and interesting properties. Some Redditors were quick to point out the potential downsides of this flat, with one user jokingly asking if the mould was included in the price. Others commented on the state of the bathroom and the potential for flooding in the basement.

Interestingly, this is not the first time a flat has been listed as a "potential" living space. In South London, a basement area was sold for £5,000 with the intention of being converted into a flat. Similarly, a basement flat in Crouch End was listed for £159,000, significantly lower than the average property price in London.

While these properties may seem like a bargain, it's important to keep in mind that they require a lot of work and potentially come with some uncertainties. But for those willing to take on a project, they may just be the perfect opportunity to get on the property ladder. Who knows, with the right permissions and renovations, these potential flats could turn into your dream home.

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