A London mum has bought her first home by herself aged just 30, after discovering a nearby development in Greenwich with us at Hyde New Homes.
Nicola, who was born and raised in the historic borough of Greenwich, fell in love with a three-bedroom apartment at Copper Creek located just a stone’s throw away from both the Cutty Sark DLR station and the Greenwich tube and DLR station. After living in the north of England for five years, Nicola moved back to the area with her two children in order to be closer to her family, and soon set her sights on getting on the property ladder.
With the average house price in Greenwich being £638,835* the task was no mean feat, and the thought of owning her own home felt completely out of reach.
Nicola, who works in Housing for a local council said: “With two children to think about, setting down permanent roots close to my support network was a huge factor in my need for my own home.
The main attraction
“At the time I was renting and supporting two children, so I was finding saving for a potentially substantial deposit a daunting and long process. This pushed me to consider other options available.”
Three years previously, Nicola had spotted the hoardings surrounding Copper Creek, which was at the time in the early stages of its build.
She continued: “When I first saw Copper Creek I was immediately drawn to its fantastic location and easy connectivity to the city. Even better though was the opportunity to purchase a home for us here through the shared ownership scheme. So, when the time came, I immediately visited the development to find out more.”
After meeting with one of our friendly and informative sales Consultants Nicola chose a stylish three-bedroom apartment, purchasing a 30% share with a deposit of £46,500.
Staircasing affordability
Currently, buyers can purchase a home at Copper Creek with a minimum 5% deposit. Prices start from £153,750 for a 30% share on a two-bedroom apartment with a full market value of £512,500 and a 5% deposit of £7,725.
“Using my own savings and with some financial support from my family, I was able to buy my first home, with a view to being able to staircase at a later date, which means I can buy more shares of my home at my convenience until I own it outright. I could potentially never need to move again.” said Nicola.
‘Our home has plenty of space for my children and I love the contemporary kitchen with its integrated appliances and its light bathroom with large mirror. The cherry on the cake is that it came with flooring, fitted blinds and a fitted wardrobe in the principal bedroom at no extra cost. We also have our own private balcony off the living area, which I plan to make a little garden space to relax in.”
“What’s more, buying a new-build home means I enjoy excellent fuel efficiency savings, as it is so well-insulated, while maintaining a low environmental impact.”
Happy to help
Minnie Dando, Head of Marketing and Communications, said: “We understand what it’s like to shoulder the financial burden of raising a family and providing a safe roof over their heads.
“Shared ownership can open up an easier opportunity to own a home in these circumstances, as you only need to pay a deposit for the share you are buying at the time and then pay a subsidised rent to the Housing Association on the unpurchased equity. This can often amount to less than paying market rent and provides the security that renting may not.
“Additionally, there is the option to save up and buy more equity at any convenient time and even own your home outright.”
She added: “Copper Creek is a wonderful place to live and we wish Nicola and her children many happy years here.”
With demand for the popular development high, current availability at Copper Creek includes just two two-bed apartments and one three-bed apartment.
To find out more book a viewing here www.hydenewhomes.co.uk/copper-creek
*source Rightmove
