Government-backed scheme NewBuy*, which enables buyers at all stages of their home owning career** to purchase a new home with just 5% deposit, is proving a life line to buyers who thought that stepping onto or climbing the property ladder was beyond them. One such buyer is chartered accountant Gemma Bailey, 26, who has purchased a two-bedroom house with the scheme at crest Nicholson’s Centenary Quay development in Southampton.
“If it wasn’t for NewBuy I wouldn’t have been able to even think about owning my own home for a very long time,” said Gemma. “Most lenders require 20% deposit which was unachievable for me. Even by living with my parents and paying reduced rent it would have taken me at least five years to raise the deposit. Thanks to NewBuy though, I was able to buy my first home.
“When I first heard about the scheme, I thought I might be able to afford a one, possibly two-bedroom apartment at a stretch. The houses at Centenary Quay were much more affordable than I anticipated and I was able to make my first home a house which is fantastic.
“I certainly recommend NewBuy. Other first time buyers should definitely consider it and speak to the sales team at Centenary Quay; they may be able to afford a larger home than they think.”
Gemma continues: “My new home is just perfect; the central location means I’m now just a ten minute drive to work and, although I was looking forward to moving out of my parents’ home, I’m close enough to pop round whenever I want.” Located close to the centre of Southampton, across the Itchen Bridge, Centenary Quay is popular with young buyers attracted to the bar and restaurant scene and shopping facilities. The breath-taking views of the river from the development are also a big draw. “I can’t believe I actually own my own home here; the setting is just beautiful,” Gemma explained.
The spacious floor layout of the house was another factor that attracted Gemma to Centenary Quay: “The open-plan kitchen/living room and large, wide hallway make the house feel incredibly spacious, particularly for a two-bedroom property,” she said. “I looked at a few older properties but the design at Centenary Quay definitely influenced my decision. Several of the second-hand houses I saw were quite dark and felt rather pokey. Also, the bathroom would often be on the ground floor off the kitchen which I really didn’t like. The layout at Centenary Quay was far more sensible and spacious.
“The properties have been finished to an incredibly high standard. I love the added extras such as the heated towel rail and integrated heating system plus the fact it’s all brand new; I don’t have to spend any extra money on redecorating or on replacing old kitchen appliances. It’s a real pleasure living here and I always look forward to coming home.”
When complete, Centenary Quay will deliver 1,620 new homes in total providing accommodation for around 3000 residents, significantly regenerating the riverside of Woolston. The seven year investment programme covers an overall area of 31 acres and will provide a range of restaurants and cafes, a supermarket, several community facilities including a nursery and a library, a children’s play area, Primary Care Trust facility and a new marine quarter to meet the needs of the marine industry.
One and two-bedroom apartments are currently available to buy at Centenary Quay, priced from £133,000; three-bedroom homes start from £235,000. For more information, please contact the Sales & Marketing Suite, off Victoria Road, Woolston, Southampton SO19 9EG on 0870 758 0432 or visit www.crestnicholson.com.