First timers choose buying over renting at Skyline
Barratt West Midlands is celebrating after securing its 50th sale in five months since the re-launch of its Skyline development on Bath Row in Birmingham.
First-time buyers Phillip Walters and Lee Creamer helped Barratt to reach the milestone when they purchased their studio apartment at the development after discovering that it was actually cheaper to buy than to rent.
The couple who were previously living in a shared house, were looking to rent a place of their own, but soon found that it was more economical, for them to buy a place of their own thanks to Barratt’s Dream Start scheme which is currently available at Skyline.
The scheme allows purchasers to buy their new home for just 75 per cent of the price, with no interest or rent to pay on the remaining 25 per cent. The deferred amount is simply paid back as 25 per cent of the properties open market value at the point of resale or within ten years, whichever is sooner.
Phillip, a bar supervisor commented, “We had originally been looking to rent an apartment in Birmingham and initially went to look at Skyline to see what rental properties were available. We got talking to the sales negotiator and she told us all about Dream Start.
“The scheme seemed perfect for what we needed and when we did all the sums, it turned out that by using the scheme, it was actually far cheaper for us to actually buy an apartment rather than to rent one.”
Phillip and Lee purchased a studio apartment at Skyline, giving them some much needed space of their own.
Lee, a bartender added, “Our studio apartment is actually really big and because there is a partitioning wall in the living area, it is almost like having a one-bedroom apartment, so it is ideal for what we needed.
“It is just a few minutes walk from the city centre, but because it is slightly outside of the main shopping and bar areas, it is actually very quiet, which is ideal after working in a noisy bar all week!”
Graydon Worthing, Sales Director for Barratt West Midlands commented, “Since re-launching to the public in April, Skyline has gone from strength to strength and we are immensely proud to be announcing our 50th sale in five months.
“Dream Start has been proving to be particularly popular with homebuyers who do not think they can afford to buy, so when they find out that they could actually be able to do so, it is no wonder that they are delighted.
“What’s more, because purchasers receive a 25 per cent deferred loan on the value of their new home, many find that apart from becoming within their reach, it is actually cheaper than renting.
“It is great to hear that Phillip and Lee have been able to find their perfect first home together and I’m sure that many more people will be able to do just the same at Skyline.”
Skyline offers a selection of one- and two-bedroom apartments priced from £84,950. For more information, log on to barratthomes.co.uk/skyline.
