The current property climate and its progressively escalating deposit expectations are making it increasingly more difficult for first time buyers to be able to purchase their dream home within their desired location1. This is especially true for those first time buyers who work in London, yet want to remain in the place they love and grew up in.
Stuart Martin is a personal assistant who works in the capital and yet was extremely eager to find an opportunity to be based in his home town of Brighton. Stuart commented; "My main aim was to buy a property where I could be close to family and friends – a task that was proving difficult as I was struggling to find somewhere that aligned with my budget."
Hyde New Homes' development in St. James Street, Brighton Rocket has allowed Stuart the freedom of owning his own home, rather than his previous setting of house-sharing with a group of fellow renters. Stuart comments; "I decided to buy through the Shared Ownership scheme at the development for numerous reasons, the main decider being that I wanted to get on the property ladder sooner rather than later. It was the only way for me to do so that also allowed me to buy a home I really loved that required a smaller deposit."
Brighton Rocket completely surpassed his expectations by offering a generous space with quality finishes at a price he could afford. Stuart comments; "I wanted to be closer to home but I was finding it increasingly difficult to find affordable properties that were available in the Brighton area. I have an identical twin brother who lives two streets away from Brighton Rocket and as soon as he noticed it was being advertised, we booked a viewing. We were one of the first to view the property and I knew it was right for me immediately. I was delighted to be able to finally make an offer with a deposit I could comfortably afford."
Brighton Rocket is situated on St. James' Street, right in the heart of the popular seaside location. Stuart adds; "The location could not be more perfect. I can see the pier from my house and also the Brighton Wheel, which is such a lovely view. Also, I'm within walking distance the train station, so my commute into London is easy." Brighton is well known as a bustling, vibrant, energetic and cosmopolitan city that offers a variety of activities and attractions for all.
Residents at Brighton Rocket will be privy to numerous pubs, café bars, restaurants and trendy clubs. Amongst these popular hotspots include Bar 76 Club, well known for its popular cocktail workshops. Also on its doorstep are an eclectic mixture of trendy cafés, quaint shops and a host of happening bars – perfect for commuters returning home after a busy working week in London.
Stuart is extremely pleased in his new home, adding; "Considering I am a first time buyer, people are surprised how spacious and bright the apartment is." The apartment is perfectly suited for Stuart to entertain his friends and has allowed him the opportunity to create a relaxed and comfortable home that he can finally call his own.
Stuart purchased a 40% share of the property from Hyde New Homes, with full market price being valued at £340,000. Stuart adds; "Hyde New Homes were absolutely amazing from start to finish. They could not have been more helpful and they knew all the right people for me to contact. I really felt that Hyde New Homes was rooting for me, and I could not recommend them more."
Also available through Hyde New Homes via Shared Ownership within the Brighton area are its flagship developments Super B, with prices starting at £126,000 - 35% of £360,000 for a two bedroom apartment, and One Hove Park, with prices starting at £136,000 - 40% of £340,000 for a two bedroom apartment. For further enquiries call Sales Agents Currells on 0207 704 5618.
Alternatively, Hyde New Homes is proud to offer its latest Shared Ownership development at River View Mill in Kent, also perfect for London commuters seeking a change of scenery and weekend culture, with prices starting at £66,000 – 40% of £165,000 for a one bedroom apartment. For more information about these developments, please visit www.hydenewhomes.co.uk or call 0345 606 1221.
1 3rd July 2015, cityam.com, First Time Buyers Priced Out Of Market, http://www.cityam.com/219379/first-time-home-buyers-priced-out-market
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