A HIDDEN advantage of staying at home during the pandemic could help first time buyers unlock a move to brand new home in Staffordshire.
From missed nights out to cancelled holidays, there have been potential savings to be made as a result of spending more time than ever before at home.
For those saving for a deposit for a home of their own, it could mean they’ve been able to put more aside over the course of the last year and they’re able to buy sooner than planned.
Factor in that Help to Buy is now available exclusively to first time buyers purchasing new build homes, and they could find they’re in a stronger position than the imagined.
In the West Midlands, including Brook Meadow, an Elan Homes development in Loggerheads, Help to Buy is available on homes priced up to £255,600.
Elan Homes regional sales director Marie Morris said: “We’re starting to see an increase in enquiries from people looking to buy their first home. Some have said they’ve saved more while they’ve been staying home because of Coronavirus restrictions and so they’ve raised a deposit sooner than they expected.
“Others are craving their own space after staying home with their parents and have realised that Help to Buy could really boost their borrowing power. The real advantage is that with Help to Buy they should only need a 5% deposit.”
First time buyers can use Help to Buy to reduce the initial cost of owning a brand new home by taking out an equity loan for up to 20% of the price. The equity loan is interest free for five years and can be repaid when they have more funds available or when they resell.
Among the Elan homes eligible for the scheme is the three-bedroom semi-detached Ripley, priced from £217,995, and the three-bedroom detached Marford, priced from £249,995.
Both properties feature well-equipped kitchens, French doors offering easy access from the lounge to the garden, stylish bathrooms, plus en-suite to main bedroom.
Marie added: “We have show homes at Brook Meadow available to view by appointment and a host of digital resources to inspire buyers. All of our homes feature a high specification with plenty of opportunities for customers to make their home their own by choosing from a rage of standard options and upgrades. These include the kitchen finish, bathroom tiles, wardrobes and flooring.”
Located on Mucklestone Road, homes at Brook Meadow offer the chance to embrace village living in a setting close to open fields and woodlands yet within easy reach of Market Drayton, Stafford, Stoke-on-Trent and Telford.
To arrange to view the show homes, call 01630318092 or see the website https://www.elan-homes.co.uk/developments/brook-meadow.
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