What House Can I Afford In Rochdale? – A Guide

If you’re considering a house move, the Rochdale area has plenty to offer – whatever your budget. Whether you’re thinking of property in central Rochdale or the attractive villages and suburbs of Norden, Newhey, Bamford, Milnrow and Littleborough, we answer the question ‘what house can I buy with my budget?’

What does the average house cost in Rochdale?

According to data from Rightmove, the price of an average home in Rochdale was £199,000 over the past year. Most Rochdale homes are terraced properties, which go for an average of £143,000. You’ll pay around £202,000 for a semi and £354,000 for a detached home in the area. Prices in Rochdale have remained steady over the past year after rising from a previous peak of £189,000 in 2021.

How do I work out what I can afford?

Assuming that you are taking out a mortgage to buy your home, you need to make sure your monthly payments are affordable. Most people are able to borrow up to four and a half times their salary, so if you earn £50,000 you’d be able to borrow around £225,000. When calculating how much to borrow, take into account your income but also all your monthly outgoings including bills, food, childcare costs etc.

You will need save for a deposit on the property. Ideally, you’d be looking to put down a larger deposit of around 20% of the home’s value but you may be able to secure a mortgage with a 5% deposit or less. With a larger deposit you may find it easier to get a mortgage and a favourable rate. Use the government’s money helper mortgage calculator to work out how much you can borrow.

Remember to factor in the costs of buying a home when you consider how much you can afford. You may need to pay stamp duty on the property, as well as conveyancing and removal fees. You will also need to consider maintenance costs and any renovations to put your stamp on the property.

Homes for small budgets in Rochdale

Flats & Apartments: For first-time buyers, looking for a foot on the housing ladder, there is a good choice of affordable flats in Rochdale. According to Rightmove, you’ll pay between £60,000 and £150,000 for a Rochdale flat, depending on the number of bedrooms, the age of the property and location. For example, modern two-bedroom flats in central Rochdale go for around £100,00 or £150,00 in the village of Bamford.

Victorian Terraces: Terraced homes are the most common type of property in the Rochdale area and are also a good choice for first-time buyers looking for more room and some outside space. Again, they vary in price but expect to pay from around £65,000 for the cheapest two-bed Victorian terrace in the Rochdale postcodes OL10, 12 or 16, rising to more than £200,000.

Homes for medium budgets in Rochdale

Edwardian terraces: If you’re a second-stepper looking to start a family, consider one of Rochdale’s larger Edwardian three bedroomed properties. There are fewer of these than Victorian terraces, but they offer more space and often come with gardens. Prices vary depending on location but expect to pay upwards of £150,000.

1930s semis: The average price of semi-detached property in Rochdale is £202,000 according to Rightmove. Expect to pay from around £185,000 to more than £300,000 for a 1930s three-bed semi.

New builds: Rochdale has a good choice of new developments. If you’re looking at mid-priced homes, you can find three bedroomed new builds in Whitworth from around £225,000.

Homes for large budgets in Rochdale

Detached houses: According to Rightmove data, the average detached home in the area sells for around £355,000. If you’re looking at the villages of Bamford, Milnrow and Littleborough, four and five-bedroom detached homes sell for between £600,000 and £700,000.

Stone cottages: These attractive and sought-after character properties are typical of Rochdale and the surrounding villages. Again prices vary depending on size and location but they are likely to cost you upwards of £210,000.

Detached new builds: Larger homes in new-build developments in areas including Milnrow, Burnedge and Littleborough range in price from around £300,000 for a three bed to £550,000 for a four or five bed.

If you are thinking of a house move, we’d love to talk to you about our range of properties in and around Rochdale. If you have a property to sell, we’d be happy to give you a no-obligation market appraisal too. Contact us today.

Request a Call Back

"*" indicates required fields

Phone

This field is for validation purposes and should be left unchanged.

Name*

First Last

Phone/Mobile Number*

Email Address

When is the best time to call?*

Choose your suitable time...Morning [9am - 12pm]Afternoon [12am - 5pm]

Message*

Submit