A family has taken an unconventional approach to selling their property by launching a raffle with tickets priced at just £5 each.
The seaside flat in Anglesey, valued at £325,000, has been on the market for a year without success.
When its owner Jennie Bailey, 43, told her closest friends of her plan, they told her she was “bonkers”.
The family from Manchester initially listed the two-bedroom property in Rhoscolyn for £365,000 before reducing the asking price by £40,000, but buyers still wouldn’t bite.
Mrs Bailey said the prolonged wait had taken its toll.
“I was getting a bit stressed about it,” she said, adding: “I thought ‘let’s think outside the box and try something a bit different’.”
The Baileys relocated to what had been their holiday retreat around two-and-a-half years ago, trading their Manchester lifestyle for what they saw as a more relaxed tempo in the coastal village.
The property was originally purchased eight years ago as a getaway destination.
Tickets are just £5 each and the family have set a goal of 150,000 tickets by January 1
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However, the accommodation has become increasingly cramped for the household, which comprises Jennie, her 45-year-old husband John, their two sons Harry, 11, and Sebastian, nine, plus the family’s cocker spaniel, Dylan.
The boys are “craving their own space”, according to their mother.
The property holds deep sentimental value for Mrs Bailey, who explained: “I’ve been coming here since I was two.
“We spent all our summer holidays here, so I’ve kind of grown up here.”
Mrs Bailey says the home has become increasingly cramped as the family grew
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Her brother owns the ground-floor flat in the same converted building.
The raffle requires the sale of 150,000 tickets to meet its target, with each entry costing £5 and a completion date set for 1 January.
By Friday, the family had sold just over 50,000 tickets.
If they achieve their goal, the Baileys will not receive the full £750,000 in ticket revenue.
Instead, a tenth of the proceeds will go to the online platform facilitating the raffle, with additional deductions for legal expenses, stamp duty and promotional costs.
As a condition, the family was obliged to remove the flat from traditional sale listings when establishing the raffle.
In the event the family falls short of the target, ownership remains with the Baileys while the competition winner receives half the money raised, with the remainder allocated to expenses before any surplus goes to the family.
With just a few weeks remaining Mrs Bailey remained hopeful, saying that such raffles typically see heightened ticket sales in their final stages.
Mrs Bailey said the prospect of leaving provokes strong feelings, though her father’s death last year made her recognise it was time for fresh beginnings.
The inspiration came from a friend who shared an article about a similar raffle in Ireland.
Hitting back at critics who have raised issue with the property’s price and the family’s origins outside the local area, Mrs Bailey said “I’ve just ignored it all,” insisting they are simply attempting to dispose of their home through an unconventional method.
“£5 is like a coffee these days,” she said, adding: “If you don’t like it, just don’t enter.
“I work on this every day. Some days all day long, sometimes at night,” Mrs Bailey said, whilst also running a handmade home decor business.
“It would be amazing to see someone else enjoy this like we’ve done,” she said.