Thinking of starting off the year by finding a new home or investment opportunity but wanting to keep costs to a minimum? 

There are a variety of properties for sale on the Isle of Man right now, from traditional cottages to town centre apartments. 

We’ve rounded up five of the cheapest homes on the market - all costing £175k or less. 

Bucks Road, Douglas - £115,000

cheapest iom
The apartment is on the third floor. (Deanwood Estate Agents)

This third-floor flat sits in a “central and convenient” location, coming with a tenant in situ and offering a monthly income or personal residence. 

The accommodation comprises a living room, a fitted kitchen, two bedrooms and a shower room. 

The property is in the town centre and currently brings in £650 per calendar month. 

Main Road, Kirk Michael - £145,000

cheapest iom
The property is a traditional cottage. (Garforth Gray)

This traditional cottage is double-fronted and offers a “blank canvas”, being in need of complete renovation. 

Inside, there is a reception room, a dining room / kitchen, two bedrooms and a bathroom, with potential to reconfigure the interior layout. 

The property, which is in a location described as “ideal” for fans of the TT and Manx Grand Prix, is suitable for cash buyers only. 

Empress Drive, Douglas - £160,000 

cheapest iom
The property is close to Douglas Promenade. (Chrystals)

This ground floor apartment is just off the Promenade in Douglas and is a short walk from the town’s amenities. 

The property is made up of an open plan lounge and kitchen, two bedrooms, one with an en-suite bathroom, and a separate shower room. 

The apartment is described as an “ideal” pied-a-terre, or could be suitable as an investment property. 

Hailwood Court, Governor’s Hill - £167,000

cheapest iom
The property is designed to be a contemporary home. (Deanwood Estate Agents)

This first floor apartment is described as “large” and “modern, being close to local shops and transport links. 

Inside, there is an open plan kitchen and living area, a double bedroom, and a fitted shower room with a walk-in shower. 

The property sits above the pharmacy and is designed for modern living with a "touch of luxury".

Spring Gardens, Douglas - £175,000

cheapest iom
The townhouse spans three levels. (Black Grace Cowley)

This mid-terraced townhouse spans three floors, with the potential to convert to top floor into a self-contained annexe. 

The accommodation is made up of a hallway, a lounge, a kitchen, a utility room, four double bedrooms, a family bathroom and a kitchenette. 

The property requires “extensive” refurbishment throughout, while benefitting from a front garden area.