Parents become landlords at CV One

As a higher education becomes the norm for many school leavers, Barratt West Midlands has seen and increasing trend of investment-savvy parents purchasing a property for their child to live in whilst away at university. Friends Gemma Nash and Shiv Chotai, both students at Coventry University, found that they were spending a small fortune on rent during their first year studies. After thoroughly investigating the market the girls and their parents decided to become landlords for the very first time at Barratt CV One development in Coventry.

Gemma’s parents, Peter and Susan Nash felt that the standard of traditional student accommodation in the area just did not come up to scratch. They decided an investment property at CV One would be the perfect solution, and it was not long before Jay Chotai, Shiv’s father followed suit.

Peter said, “During Gemma’s first year in Coventry we were spending such a large amount of money on rent with nothing to show as a result. When we heard about the CV One development it made so much sense to buy an apartment, firstly as investment property for both myself and Susan, at the same time as enabling Gemma to live in modern and safe accommodation whilst at University.

“As first time landlords one of the major benefits of purchasing a new is that we have far less to worry about in terms of maintenance and renovation issues, because put simply there are none.”

Gemma, who moved into the apartment in April, explained, “For me the location is one of the major benefits to this development over others in the area. My apartment is so close to Coventry University - about a five minute walk - and the town centre is just as close, meaning that it is ideal for me since I don’t have a car.”

After visiting Gemma’s apartment, Shiv also 20 and father Jay, were so impressed that they also saw an ideal investment opportunity and purchased a similar two-bedroom apartment also at CV One.

Jay commented, “Everything about the apartment was ultra modern and contemporary, Barratt offered us the furniture package deal meaning everything was included, from beds and sofas to pictures and even air fresheners, removing the hassle and additional expense that furnishing a new home can bring.”

Shiv said, “CV One itself is a very secure development, much more so than other student accommodation. I feel at ease walking around the development and surrounding area and it has given my dad peace of mind knowing that I am safe.”

David Child sales Director for Barratt said, “New properties are an excellent choice for investment often offering the potential for capital growth. And as a student let, a property with two- or three-bedrooms can mean that your child can live rent-free whilst other student tenants cover the mortgage costs. Installing a family member in the property also means that tenants are likely to be better behaved and the property should be well taken care of.

“The apartments at CV One are ideal for this arrangement and combined with our other incentive schemes, such as the furniture package, the prospect becomes even more appealing.”

Peter and Susan Nash purchased a two-bedroom apartment in Hever Hallwhilst Jay also purchased a two-bedroom apartment but in Monea Hall. Both apartments comprise open plan kitchen/living area, en-suite to master bedroom, second double bedroom and stylish main bathroom, meaning that both girls let out their second bedroom to another student.

CV One offers a selection of one- and two-bedroom apartments, all with allocated parking and secure entry systems. Prices start from £122,450.

For more information log on to Barratthomes.co.uk/cvone.