A window of opportunity for home buyers in Chorley

Buying a new home in Chorley now could be the smart move with signs that prices are starting to head in an upwards direction.

A recent survey by Nationwide found that house prices rose for the third consecutive month in July, up 1.3% on the previous month, indicating that the window of opportunity to pick up the best buys in popular areas could be closing.

This improving trend has also led the Royal Institution of Chartered Surveyors (RICS) to revise its house price predictions for 2009, with its August update now forecasting that prices at the end of the year will be higher than for the same period last year, as opposed to the 10% drop it had previously predicted.*

All of which suggests that now could be the right time to buy one of Redrow’s brand new properties at Buckshaw Village; all built to exacting quality standards, featuring stylish interiors and with help to find the right mortgage deal from recommended financial advisers.

Lesley Myers, area sales manager for Redrow Homes (North), says: “Some of the latest statistics suggest that the smart move for home buyers could be to buy now while prices are still low and before they increase significantly further.

“With two of the UK’s biggest lenders, Nationwide and Halifax, both reporting month on month price increases and the latest reports showing an uplift, potential home buyers who’ve been waiting for the market to reach the bottom may feel they’ve reached that point.

“If they do, we’ve got two special four-bedroom properties available at our Crescent Green phase of Buckshaw Village, at very competitive prices and with a number of incentives designed to help get people moving. Interest rates also remain at an all-time low, with our recommended financial advisers able to pinpoint some attractive mortgage deals for those with a good credit history, a healthy deposit and / or substantial equity in the house they’re selling.”

Thanks to valuable incentives such as part exchange a new build home currently has lots of advantages over the second hand sector. There’s also the fact that it won’t require any costly renovation or repairs to bring it up to modern-day standards, comes with a 10-year warranty and, on average, a home built today is 40% more energy efficient than one built at the beginning of the decade.

Lesley adds: “Redrow has calculated that it can cost almost £30,000** to bring an older second hand property up to the same standard as one of our new homes, not to mention the time and energy involved.”

“By contrast, the two ‘Fulbrook’ house types at Crescent Green, already feature an up to date specification including modern kitchens and bathrooms, with well-known brand names, and they’re well insulated with full central heating and double glazed windows.”

Perfect for growing families or those simply looking for a statement-making home, the Fulbrook features an open-plan lounge and dining room - which has double doors leading onto the back patio - a utility room, en-suite bathroom to the master-bedroom and a family bathroom, all for the reasonable price of just £209,995.

Meanwhile for those buyers looking for something a little more manageable, there are also a number of two-bedroom apartments available that can be purchased from just £73,465 when using the Government backed HomeBuy Direct scheme that allows eligible purchasers to take out an equity loan for up to 30% of the purchase price.

The loan is jointly funded by Redrow and the Homes & Community Agency (HCA) and, crucially, is interest-free for the first five years.

Buckshaw Village is successfully delivering over 2,000 quality-built homes and creating a thriving community between the bustling towns of Chorley and Leyland.

Along with the new homes, there is a successful business park and proposals for a district shopping centre, provision for a new railway station with park and ride facilities, a primary school, health centre and outdoor sports amenities.

For more information about new homes at Buckshaw Village, including opportunities to part-exchange or eligibility for HomeBuy Direct, log on to redrow.co.uk.

* Latest house price data:
nationwide.co.uk/hpi
rics.org

** £30,000 estimate (inc vat) based on upgrading a typical three-bedroom house, including new kitchen units & appliances, new heating system, replacement wiring and remedial plastering, additional loft insulation, redecoration including materials, new bathroom suites, including ground-floor cloakroom and en-suite, replacement windows, new guttering including fitting and replacement of fascias.