Trading up, trading down

Trading up: Lincolnshire. You can have a grand lifestyle for a sum that, a county or two south, would get you a cottage. This ex-farmhouse still clings to two acres of land, two miles from the town of Sleaford. Even before you have hived the already-converted outbuildings into a self-contained annexe you can lodge half your social circle – there are six double bedrooms, three reception rooms and a classic Aga-fied farmhouse kitchen. Cost: £395,000.
Humberts, 01476 514514 Photograph: Humberts/Humberts

Trading up: Somerset. This £399,950 effort is a quaint and dainty cottage on the outside, but boasts voluminous glossy chic living within. Lavish renovations have installed heated Portland stone floors, spotlighting, a startling vaulted black-lacquered kitchen, a glass cabinet wired for TV in the bathroom, and six bedrooms. The gardens back on to farmland surrounding the village of Horsington.
Palmer Snell, 01963 34174 Photograph: Palmer Snell/Palmer Snell

Trading down: Devon. Three bedrooms on the cobbled village square will ease you into smaller scale living. But it's not that small anyway: a capacious dining room and utility room serve the kitchen, while a two-storey barn in the garden will absorb extras. Unusually for an old cottage the large window-seated bathroom is upstairs. South Brent lies on the edge of Dartmoor, minutes from the A38 expressway. Yours for £250,000.
Marchand Petit, 01803 861 234 Photograph: Marchand Petit/Marchand Petit

Trading down: London. Once a Victorian bakehouse, this £335,000 two-bedder is now a house behind security gates off Peckham's main shopping street. Inside, beyond a hidden courtyard, is industrial glamour. The ground floor is open plan with wooden floors, the stairs are metal, the upstairs walls exposed brick, and the kitchen and bathroom expensively fitted. The planners are content with the idea of an extra en suite bedroom and terrace. It is 10 minutes to London Bridge by train.
Wooster & Stock, 020 7708 6700 Photograph: Wooster Stock/Wooster & Stock

Bargain of the week: Cumbria. Houses of this size and pedigree in the Pennine foothills would usually require nearer £400,000, but this probate sale wants to move quickly so will accept around £290,000, and also needs up to £20,000 spending to beautify it according to modern tastes. You'll get five bedrooms and three reception rooms on the green in the beautiful village of Milburn.
Penrith Farmers' and Kidd's, 01768 862135 Photograph: Penrith Farmers' and Kidd's/Penrith Farmers' and Kidd's

Over the sea: Montenegro. From the two hospitable balconies you can peer down over the fishing village of Muo and across a fjord so stunning it has been designated a world heritage site. This two-bed flat is perched 150m from the water close to the old town of Kotor. The living area is open plan and both bedrooms are served by a bathroom. You and the neighbours share communal gardens and a swimming pool. Yours for £168,000.
Savills, 020 7016 3754 Photograph: Savills/Savills