Buying a property instead of renting one is cheaper in almost every region in the UK, with those who manage to step on the ladder in London saving themselves over £3,500 per year, and for first time buyer Rita this proved to be true. Having rented a property for some time, Rita managed to significantly reduce her monthly outgoings when she successfully purchased her first home at Peabody’s popular new development, Colindale Gardens, NW9 using the Shared Ownership scheme.
Originally from Italy, 42-year-old City Administrator Rita talks about her love of London and fulfilling a personal ambition by purchasing her own studio apartment: “I was previously living in a rented studio flat in West Hampstead. The area was lovely, the property was nice and modern, but it was also very expensive. Whilst renting can offer many short-term benefits, I wanted to get on the property ladder and longed to have a place to call my own. By buying a studio flat at Colindale Gardens I have managed to reduce my monthly outgoings by quite a lot – it has been the best decision I have ever made!”
All of the properties at Colindale Gardens have been thoughtfully planned and designed to offer flexible and spacious living spaces, complemented by a collection of onsite facilities. Talking about her new home, Rita explains: “My new home is bigger than the one I was renting; I have a separate kitchen and bathroom which has a bath in it! The layout is spacious and it’s a lovely bright home, I also have a lovely big balcony – currently in the Covid-19 lockdown this has been a godsend! The warmer weather we have had recently has meant I could sit outside and enjoy the outdoors without leaving home. It’s really important to have access to outdoor space, and London is full of so many lovely green areas, you are never far from a place to enjoy.
Rita continues: “Peabody has really thought about the design of the development, there are plenty of green communal areas dotted around to enjoy. We have an amazing concierge; they look after us all very well and ensure the grounds and gardens are well-tended. I also have access to a residents-only gym, which I can’t wait to use once it is open.”
42-year-old Rita explains how her life has been since the UK lockdown was announced in March: “I am a very positive person, and you have to keep a positive attitude at uncertain times like this. I received the keys to my property the same weekend the lockdown was announced, so I was very lucky. I am working from home at the moment, and I am actually enjoying it, I have also been able to decorate already – something I may not have been able to do so quickly otherwise.”
Rita continues: “I went to the London Home Show in September and that’s where I met the Peabody team. I then received an email about a pre-launch event for the Shared Ownership homes at Colindale Gardens, where they were also offering £1,500 towards my legal fees which was great. The Shared Ownership scheme gave me the chance to save an acheievable deposit and the opportunity to be able to purchase the maximum initial share amount of 75%. I will definitely be planning to staircase in the near future – it’s such a great way to own your own property.”
Enjoying a well-connected location, living at Colindale Gardens means you can easily commute or explore what London has to offer, talking about her commute from home, Rita explains: “My work commute is easy, it is a very straightforward journey. I am a 5-minute walk from Colindale tube station, from there I take the Northern Line into Kings Cross – no changes, it’s very quick and easy. I have lots of friends that I keep in touch with, social channels have worked so well recently and I am looking forward to seeing them all again soon.”
Rita concludes: “Shared Ownership is very good, especially in London. Everyone’s circumstances are different, and for some people renting works really well, but I didn’t want to keep paying someone else to live in a property that I didn’t own. My advice to anyone thinking about using the scheme would be to go for it! If you can afford it, do it while you can, then you can move forward as and when you are ready. All of the sales team from Peabody were extremely professional, helpful and friendly – one of the best teams I have ever dealt with. So glad I used them, and I really love living here!”
Prices at Colindale Gardens currently start from £105,450 for a 30% share of a one bedroom apartment. Online viewings are now available, for more information, please visit www.peabodsales.co.uk/developments/colindale-gardens-shared-ownership/