With property prices in the South East calculated to be 16 per cent higher than the national average and an additional premium placed on those within the lucrative ‘Gatwick diamond’, many first-time buyers in West Sussex consider themselves to be priced out of the market.
Furthermore, with a recent report indicating that rental costs rose by an average of £300 between 2011 and 2012 while wages remained stagnant, the opportunity to save the required 10% deposit and take the first tentative steps onto the property ladder has proved elusive for many eager buyers.
However, the government-backed Help to Buy scheme has realised the dream of becoming a homeowner for many. Two of the 13,000 buyers who have used the scheme since launch are Horsham pilot James Cater-Booth, 25, and his partner, primary school teacher Laura Daly, 26.
While sharing rented accommodation with colleagues, James was keen to secure his first home with Laura, who had been living at home with her parents. After house hunting for a couple of months, James and Laura began to research the mechanics of the Help to Buy scheme and quickly realised it could both upsize and upscale the properties in their price bracket.
“Working as a pilot out of Gatwick Airport, my shifts have always been varied, flying at all times of the day and night. Living with colleagues didn’t make for a relaxing home environment, so I was desperate for some stability and a place of my own. Laura and I decided to look into buying our first home together and, after driving past Kilnwood Vale for months, decided to arrange a viewing. We were so glad we did because as soon as we saw the two-bedroom coach house, we knew that we had to have it.
“When we visited Kilnwood Vale, the sales team talked us through the Help to Buy scheme, which meant we only needed to secure a mortgage for 75% of the property’s value and provide just a 5% deposit. As a result, Help to Buy meant we could afford much more property for our budget than we would have done without the scheme, so we went for it without hesitation.”
The couple’s two-bedroom coach house situated on the Crawley Road development is a spacious and modern home arranged across two floors. The ground floor is home to a large garage with great storage space as well as a car port. The living space is located on the first floor with a picturesque view of adjoining fields. This space also comprises a sociable kitchen, living / dining room that is perfect for supper parties with friends, two modern bedrooms and a fully-fitted elegant hotel-style bathroom designed by Villeroy and Boch.
James continues: “The size of the property is perfect for us, offering us plenty of room to grow into it and we have a huge kitchen, which is fantastic because I love to cook. The finish is great and it was the overall specification of the property that sealed the deal for us. The fixtures and fittings were all great quality and gave the home a sense of modernity. The sales team have been extremely helpful, putting us in touch with relevant legal and financial advisors, and I couldn’t recommend Crest Nicholson or the Help to Buy scheme highly enough.”
Christine Tiernan, Sales and Marketing Director at Crest Nicholson South, said: “In today’s competitive market, making the most of your budget is essential. The two-bedroom coach house is a fantastic property that offers buyers great value for money. Not only is it situated in a fantastic location, but the affordable pricing and spacious design make these properties an excellent proposition and investment for homeowners.”
A range of two-bedroom apartments and coach houses and three and four-bedroom family homes are currently available. All homes blend traditional exteriors with well-planned internal layouts that maximise space and adapt to the demands of everyday life.
Three-bedroom homes are available from £339,950 or an affordable £271,960 with Help to Buy, and four-bedroom homes from £369,950 or £295,960 with Help to Buy. Other purchasing schemes are also available on enquiry.
For further details, please contact the sales and marketing suite on 0845 894 7873 or visit www.crestnicholson.com/kilnwoodvale.