Many young adults in their mid-20s and early 30s are finding themselves increasingly having to live at home or in rented accommodation as the average age of a first-time purchaser buying without assistance is now a frightening 38*. However, a recent purchaser at Crest Nicholson’s BASE development in Brentwood has beaten the trend and has managed to buy his ideal home an impressive ten years ahead of the pack.

By continuing to live with his parents in Stanford-Le-Hope, 28 year old Steve Watson managed to save for a deposit and, with help from one of Crest Nicholson’s shared equity schemes, he was able to purchase a stylish new two bedroom apartment at BASE.

Steve comments: “I work in Central London and had been living in a flat share with some friends in South London but when I decided I wanted to buy my own place, I knew the only way I could afford it was to move back in with my parents in order to save money. I decided to buy at BASE as I really liked the aesthetics and design of the development and also because of its location. I had looked at other developer’s sites but kept coming back to BASE. Being in Brentwood is great for me because of the transport links to the centre of London and its close proximity to the M25 as I often have to drive to Heathrow for work too.”

Steve continues: “I found out about the development as my Dad worked at the site when it was previously owned by British Gas and he knew it was being redeveloped. I’d known about it for quite some time but before this year I wasn’t in a strong enough position to buy. Everything about the apartment is what I was looking for but I just didn’t think I could afford something so stylish, fresh and modern. I love the layout of the apartment and the size is great. The extra bedroom is perfect for when I have people to stay and it also doubles up as my home office when I work from home.”

Annette Cole, Sales and Marketing Director for Crest Nicholson Eastern, comments: “So many potential first time buyers continue to live at home or end up renting because they think they cannot afford to get onto the property ladder. Crest Nicholson really does work hard at getting new purchasers on the property ladder and BASE is an excellent example where first time buyers can get more for their money and purchase a desirable property at a more affordable price. Crest Nicholson is delighted to offer its EasyBuy scheme here, where buyers can own 100% of their home from day one but only pay 85% of the price upfront, making getting onto the property ladder more accessible to first time buyers.”

Unlike other incentives, with EasyBuy there is absolutely no rent to pay or interest accrued on the outstanding 15% of the property’s equity for the first five years. The 15% is paid back as a percentage of the property’s open market value at any time up to resale or after 10 years, whichever is sooner.

BASE comprises a mix of one and two bedroom apartments with spacious, open-plan living. Many homes benefit from a balcony as well as large windows which fill the rooms with light and bring the ‘outside in’. Homes include fully fitted kitchens that feature a comprehensive range of integrated Bosch appliances including a fridge/freezer and washer dryer.

Trains from Brentwood train station take just 38 minutes to London Liverpool Street and the M25, M11 and A12 are all within easy access.

In addition to the train station, the development is just a short walk from the retail and leisure facilities in Brentwood, which include a wide range of bars, cafes and restaurants as well as major high street shops.

Prices at BASE start from £176,500 for a one bedroom apartment and from £223,500 for a two bedroom apartment. For further information about BASE, please contact the sales and marketing suite on 0870 757 8384 or visit www.crestnicholson.com/base.

ENDS


For further press information please contact Grayling:
Phoebe Campbell T: 020 7025 7812 E: Phoebe.Campbell@grayling.com
Laura Greene T: 020 7025 7581 E: Laura.Greene@grayling.com

* http://property.timesonline.co.uk/tol/life_and_style/property/article7006777.ece

Notes to Editors:

Crest Nicholson is a leading developer of sustainable communities whose mission is to meet customers’ expectations through the provision of environmentally sensitive and well-built developments. Dedicated to excellence in design and construction, to providing high quality locations and to customer service, each scheme has, as its main focus, the potential to generate a true community spirit through the incorporation of distinctive residential areas alongside open space. Visit www.crestnicholson.com.