According to a recent survey, over a quarter (28%) of house buyers install a new bathroom, 25% rip out the existing kitchen and replace it with a new one and 20% invest in new windows*. The great thing about buying a new-build property is that you don’t need to worry about doing any big jobs when you move into your new home. Anyone buying a home through HomesHub won’t need to worry about any of this and can get on with the important things like picking carpets, curtains and cushions.
But making a house feel like home starts even before you get the keys. For many of our customers the dream of home ownership had probably seemed unachievable, with recent research showing that almost a third of renters fear they will never own a home*. Almost 40% of our customers had been renting before they contacted HomesHub and found out about shared ownership. When engaging with our customers we try not to get bogged down in the eligibility and affordability criteria and simply explain to customers that shared ownership means they can purchase in a more affordable way, with a low deposit, and the monthly payments are usually lower than renting privately. This makes the whole experience of buying their new home even more exciting!
When it comes to a new house feeling like home, apparently it takes us Brits an average of four months to get there, however, a lucky one in 10 (11%) said that their new house felt like home the moment they got the keys. I’d like to think that most of the 1,000 purchasers we have assisted into home ownership fall into this bracket; the feedback we receive from happy customers certainly supports this. Trudi recently bought a house at Woodford Grange in Winsford, where HomesHub are selling 20 shared ownership properties on behalf of Cheshire West and Chester, and said “I can’t quite believe it, it feels like a dream. It’s all happened so quickly and smoothly.”
Our customers don’t need to worry about compromising on the quality of their new home either. Just because shared ownership is an affordable homeownership option, it doesn’t mean that we skimp on the specification and we take pride in how we present our properties. Whether they own 25% or 75%, a customer can start putting their stamp on their new home as soon as they get the keys, and decorate the property to their own taste…….or the same as the show home (which happens quite a lot!)
The average household income of our buyers is currently £24,000, which allows them to comfortably buy a 40% share in a property worth around £200,000. HomesHub work with every customer to understand their own individual lifestyle. This ensures that the share they purchase is not beyond their financial means, allowing them to live comfortably and enjoy making their new house a home. And should their financial position change in the future, they have the flexibility to increase their share in the property to own it outright or to sell it on to another shared owner.
Shared Ownership obviously isn’t going to be right for everyone…but it really is a great way to afford a new home and take a step onto the property ladder for someone who otherwise might not have been able to.
HomesHub are proud to be providing Shared Ownership properties across Merseyside and Cheshire and offering a choice of housing options for first time buyers, families or anyone looking to find a great home. Click here for more details of our available properties and more information about the Shared Ownership scheme.
*research, carried out by Bilendi on behalf of GoCompare Mortgages in September 2017.
* The British Buyer Barometer survey was conducted by Tepilo, using a UK-wide sample of 2,001 homebuyers, who have either bought in the past year, are in the process of buying or are planning to buy within the next 12 months. Respondents were aged 18-65.