Buying over renting in Canterbury

Buying a home is one of the most important, and expensive, purchases you’ll ever make and buying a property for the first time can be a daunting prospect, particularly given the uncertainties raised by the Northern Rock’s current financial crisis.

According to first and second time buyers at Fairview New Homes’ Connections development in Canterbury, however, buying still beats renting ‘hands down!’

Connection in Canterbury, already attracting first time buyers, is an exciting new development of 182 new homes including a range of one, two and three-bedroom apartments and duplexes, located at the heart of historic Canterbury and just minutes from Canterbury East station.

“I rented for over 10 years and if I had bought a property in the first place, I could have saved about £30,000 on rent. Paying rent is really like pouring money down the drain! In fact, you end up paying as much in rent as you would on mortgage repayments,” comments Yomi, one young professional buyer.

“Property is a long-term investment and you really feel your money is going into something worthwhile.”

“When you’re renting, there’s always a sense of insecurity,” adds another first time buyer.

“Sometimes landlords decide not to renew the contract and once it’s rented, some don’t seem to care about the property and just don’t bother to respond when work needs to be done. Buying, on the other hand, means you’re investing in a valuable asset and my mortgage payments don’t cost any more than our rent did previously!”

Younger home buyers don’t need to be afraid of taking on a mortgage, but it is essential that they get good independent advice on what’s available to them, according to Hurst Independent.

“Working alongside Fairview New Homes, we have been able to help many young people, who thought that buying was not an option, to purchase their first home,” says Adrian MacDiarmid of Hurst Independent. “The mortgage market can appear to be daunting but our job is to guide people through all their options. Interest rates are historically low and, with some great deals available, buying can still be an affordable option.”

For those who have been renting and haven’t been able to save sufficient funds to cover the deposit or the costs of buying a home, Fairview New Homes is often able to end a hand as Jim Holliday, sales director, confirms:

“We are committed to helping younger buyers get onto the property ladder and can do this in many ways. On some developments we offer 5% deposit paid or help with the costs of legal fees or stamp duty. Our sales consultants are always delighted to help and will provide details of independent financial and legal advisors.”

For further information on the apartments at Connection priced from £199,995, visit Fairview.co.uk.