"Shared ownership is a fantastic scheme to help first-time buyers get onto the property ladder who could not otherwise afford to buy on the open market," says Julie James, Sales Manager for Hightown Homes. "We have a fantastic three-bedroom house for sale, which would make an ideal family home, and the young free and single would love our one-bedroom coach house."
The shared ownership scheme allows eligible homebuyers to get a foot on the property ladder in a modern, new-build home without having to pay for it outright. The part-buy/part-rent arrangement means they purchase a proportion of the property in a conventional way, with a mortgage based on their earnings. The rest is charged at a subsidised rent, making it more affordable than owning or renting outright and allowing the owner to save funds to buy further shares in the property at a later date, potentially up to 100%.
At Maple Lawns, the one-bedroom coach house has a market value of £195,000, but purchasers can buy a 25% share for £48,750. This is a great option for a single buyer or couple with a household income of between £25,000 and £60,000 to acquire a first home. The three-bedroom house, on a good-sized plot and with two parking spaces, is valued at £315,000, though if an eligible buyer earns between £50,000 and £60,000 a year and has a deposit of at least £7,875, a minimum 50% share would cost only £157,500.
Quality has not been compromised in the build or fit-out of either home. Each conforms to the current Level 3 sustainable homes rating, meaning they are well insulated and inexpesive to run, and come with double glazing and gas central heating. There's even a solar hot-water system. The fully fitted kitchen, complete with appliances, and stylish bathrooms are also of enviable quality. Residents also have use of communal landscaped gardens and a play area.
These new homes in Buckinghamshire are only a mile and a half from Amersham station, which provides services into London and destinations in the Chilterns, and from a wide selection of shops, with a number of well-regarded schools in the vicinity. A little further is delightful Old Amersham, with its numerous heritage buildings, inns and boutique shops. In addition to good public transport links, road users are well looked after with easy access to M40, M25, A355 and A404.
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