Affordable ways to flee the nest
A recent survey conducted by the Office of National Statistics states that 18% of young women aged 20-34 (29% of men) are still living at home with their parents, and that the average age of the first time buyer has crept up to 29.* These statistics show that getting onto the property ladder is still a difficult move for those all important first time buyers. However, one 26 year old purchaser at Crest Nicholson’s Vista development in Ipswich has beaten the trend and has managed to buy her ideal home three years ahead of the pack.
By continuing to live with her parents in Ipswich, 26 year old Kate Mumford managed to save for a deposit for a stylish new two bedroom apartment at the Vista development close to the centre of the town. As well as making savings by living at home, Kate was also able to get more for her money by purchasing with Crest Nicholson’s EasyBuy scheme, meaning that she only had to purchase 75% of the property upfront.
Kate comments, “Although I liked living at home with my parents, I knew it was time to get my own place and I was in a fortunate position to be able to save up for a deposit. A friend told me about the EasyBuy scheme that Crest Nicholson was offering at Vista and I couldn’t believe my luck; it meant that I could get even more for my money. Instead of buying a one bedroom apartment on the outskirts of town, I was able to afford a two bedroom property right in the centre of Ipswich.”
EasyBuy is not a shared ownership scheme and purchasers at Vista will own 100% of their new property from day one. Unlike similar schemes, with Crest Nicholson’s EasyBuy there is absolutely no rent to pay or interest accrued on the outstanding 25% of the property’s equity for the first five years. The deferred amount is paid back at 25% of the property’s open market value at any time up to resale or after 10 years, which ever is sooner. Therefore with EasyBuy, the two bedroom property that Kate bought at Vista priced at £115,000 became a more affordable £86,250.
Annette Cole, Sales and Marketing Director for Crest Nicholson (Eastern) Ltd, comments, “So many potential first time buyers stay living at home or waste money renting because they think they cannot afford to get onto the property ladder. With great schemes like EasyBuy, Crest Nicholson is able to show new purchasers that there are different options available to help finance the purchase of a first home. Vista is an excellent example where first time buyers can get more for their money and purchase a desirable property at an affordable price.”
Vista is a striking collection of one and two bedroom apartments. Set off Woodbridge Road it is close to Ipswich’s vibrant town centre. All homes are finished to the high standard associated with Crest Nicholson and properties are fitted with modern kitchens, complete with a range of integrated appliances including a stainless steel Bosch oven, hob and extractor hood along with an integrated fridge/freezer and washer/dryer. Bathrooms and en suites incorporate smart white sanitaryware finished with contemporary chrome accessories. The apartments currently on offer also include all light fittings and flooring.
Vista is just a 15 minute walk from Ipswich town centre, which offers a great selection of shops, cafes, restaurants and bars to cater for every taste. Just under two miles from the train station, the scheme also enjoys excellent transport links, with London Liverpool Street just over an hour away.
Prices at Vista start from £103,500 (£77,625 with EasyBuy) for a one bedroom apartment with two bedroom apartments starting from £115,000 (£86,250 with Easybuy). For more information or to book an appointment visit crestnicholson.com.
