Predictions of rent rises and house price increases in the year ahead mean buying a new home in Sittingbourne now could be a prudent move.
The number of people buying their first home reached a seven-year high in 2014 according to the Halifax. The lender said better mortgage rates and government initiatives such as Help to Buy helped bolster the number of first time buyers by 22% year on year.
To ensure buyers in Sittingbourne are aware of the valuable assistance, Redrow is holding a special event at Archers Park this Saturday (January 24).
Kerry Jenkins, sales director for Redrow Homes (South East), says:
“Surveyors and lenders are forecasting that rents will rise by 2% this year while house prices could increase by up to 5% over the next 12 months. If their predictions hold true, it could mean that those saving for a deposit now face paying more when they’re eventually ready to buy. But some aspiring first time buyers may not realise that they already have enough to secure a home at Archers Park as, with Help to Buy, they typically only need to put down 5% of the property’s value, which could be just over £8,000.”
“We would encourage anyone thinking of buying a new home in Sittingbourne to join us at Archers Park this Saturday so that they can learn more about Help to Buy from our friendly, experienced sales team.”
Located on Staplehurst Road, Archers Park offers an elegant choice of one and two-bedroom apartments, plus three and four-bedroom family homes.
Prices start from £160,995 for a two-bedroom apartment and, thanks to Help to Buy, the initial price can be reduced to just £128,796. The remaining 20% is covered by an equity loan, which is interest free for five years and can be repaid when the customer has more funds available or when they resell.
Situated on the edge of Sittingbourne, Archers Park is ideally placed for access to the countryside, the coast or the capital as it’s within easy reach of the M2 and M20; while trains from the local station offer journey times of just over an hour to London.
The town centre has a thriving high street and with a good choice of schools in the area, Archers Park is well suited to those with children.