It’s a good question. Buying your own home really can save you a lot of money.
At Linden Homes’ White Rock development in Paignton there are a range of contemporary two, three and four bedroom family homes where it can work out cheaper to buy than rent.
Alison Kendall, sales and marketing director for Linden Homes said: “For tenants, paying monthly rent to their landlords isn’t just money down the drain, it can actually be more expensive than buying!
“By buying a brand new Linden home your energy bills are likely to be reduced as a result of the energy efficiency features and you won’t get any nasty surprises associated with buying a second hand property, like the need for a new roof or boiler. Owning your home is very special, you can decorate it as you wish, make any changes and it’s a savvy investment for the future.
“There are a number of initiatives available to help with that much needed deposit but it’s the monthly savings that are really impressive.”
At White Rock, a contemporary two bedroom home would cost approximately £750 to rent each month. However, using the government’s Help to Buy scheme to purchase a similar home would save over £250 per month!
Adam Champion, an independent expert from New Homes Mortgage Helpline, explained: “Using Help to Buy, the home for £182,950 would require £9,150 as the 5% deposit. There would be a 20% Help to Buy government equity loan and then you would only require a mortgage of £137,250 which equates to just £499.64 per month, based on Nationwide’s 1.89% two year fixed mortgage over a 25 year term.”
Alison added: “Joining the housing ladder is not just a good investment in the long term but it pays to move in the short term too. We’re very passionate about helping people to achieve that important milestone – we can help you move, just come and visit us.”
For more details visit the sales and marketing suite, off White Rock Way, Paignton, open daily 10am to 5pm (and until 7pm on Thursdays), contact Dana or Lorraine on 01803 701835.
For further information, contact Emma Mackay on 01626 356666 or email email@example.com
12 May 2015
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales representatives for details of the exact specifications available at the development(s) for each type of home and the associated prices.