Renting a home can often seem like a cheaper alternative to buying, but recent data revealed owning a home can actually save you an average of £124 per month (£1,448 a year). And the gap is even larger in London where buyers are £188 per month better off*.
This is a huge turnaround from just six years ago when it was the other way around, with renting saving £226 a month. The turnaround can be attributed in large part to the nationwide success of government schemes such as Help To Buy helping people to escape the ‘rent trap’.
Award-winning house builder Crest Nicholson is one of the developers which have embraced this initiative, which makes it possible to buy a new or existing home worth up to £600,000 with just a five per cent deposit.
One of the latest homes to be made available via the deal is at Crest Nicholson Eastern’s Sovereign Gate site, in Goffs Oak, Cheshunt, where a three-bedroom ‘Sandown’ house for sale at £310,000 is available for £248,000 using Help to Buy.
Help to Buy is enabling budgets of first-time buyers and those looking to move up the property ladder, to stretch much further, upsizing and up-scaling the types of properties they can afford.
Annette Cole, Sales and Marketing Director at Crest Nicholson Eastern, said: “Sovereign Gate has proved incredibly popular with buyers from across the spectrum and we’re pleased to offer Help To Buy at the site.
“It means dream homes which previously might have appeared unaffordable are now within reach of those looking to purchase their first home or move up the property ladder without having to find a mind-blowing deposit.”
Sovereign Gate is a traditionally inspired development of two, three and four-bedroom homes in a variety of sizes and styles. Perfect for a range of homebuyers from those looking to get their first steps on the ladder, to those wanting to downsize to a lower maintenance lifestyle;
all of the homes include off-street parking.
Situated on the outskirts of Goff’s Oak, one of the most desirable parts of Cheshunt, this sympathetic scheme will provide character areas with tree lined boulevards, whilst some of the homes face onto the green open spaces; a key asset to the overall masterplan design.
The site benefits from unrivalled transport links, making it ideal for commuters. Customers who drive will certainly be well connected - the A10 is close by and affords excellent links to the M25, as well as the M11 & A1.
Cheshunt town centre is approximately three miles from Sovereign Gate, whilst Cheshunt station is approximately two miles away providing direct trains into London Liverpool Street in just 23 minutes and Stratford in just 24 minutes.
The station is included on the Oyster card network as zone eight and offers a less expensive
season ticket compared to St Albans or Ware.
Train services are also available from nearby Cuffley to Moorgate in 40 minutes and from Waltham Cross to Liverpool Street in under half an hour. Cheshunt station on the proposed plans for Crossrail 2 that would link Hertford East through to Kings Cross, Chelsea and South West London, such good connections will provide potential for capital growth in the long term.
Cheshunt town centre is approximately 2.5 miles away and a range of bus services link
Sovereign Gate to Waltham Cross, Broxbourne and Cheshunt itself.
The two-bedroom Sandown is for sale at £310,000, or £248,000 with Help To Buy. Additional new three and four-bedroom properties will be released for sale soon at the site.
For more information or to make an appointment to view the show apartment, telephone: 01992 662920 or visit: www.crestnicholson.com/sovereigngate* Research by Halifax, 2014.