First-time buyers are being urged to snap up a new build property at a popular Burton-upon-Trent housing development to avoid escalating rent and renovation costs.
Rent costs on average of £717* per month, so to make savings local housebuilder Morris is advising house hunters to take advantage of the few remaining properties at its Paget Green development that qualify for the Government-led HomeBuy Direct scheme.
Cindy Vials, regional sales director for Morris, said: “New build homes can slim down the cost of buying a property considerably, and can save further expense because they don’t require the same renovations that second hand homes do.
“Morris homes are built to greater sustainable and energy efficient building regulations meaning homebuyers make large savings on energy expenses.”
The HomeBuy Direct scheme allows first-time buyers to purchase a property for 70 per cent of its market value, which reduces the size of the deposit required and lowers mortgage repayments for the homebuyer.
Cindy added: “Schemes like HomeBuy Direct are an attractive prospect to househunters looking to take their first steps on the property ladder, as purchasing a new home can be more cost effective than the increasing cost of renting.
“Smaller deposits mean first-time buyers can afford to buy a new build home, and the scheme is proving particularly popular at Paget Green, with its great links to the local motorway network making it easier to access the centres of Birmingham, Nottingham, Derby and Leicester.”
Three-bed properties at Morris’ Paget Green development are available under the HomeBuy Direct scheme from just £94,500**.
For more information on the properties and schemes available at the Paget Green development visit the new look website at www.morrishomes.co.uk/paget-green. Alternatively, visit the sales office at Paget Green, Horninglow Road, Burton-upon-Trent, DE14 2PS (open Thursday – Monday 10.30am-5.30pm) or call 01283 531 341.
*Figures from the latest LSL Buy-to-let Index
**Price quoted at 70 per cent of its marketed price under the HomeBuy Direct scheme. Subject to terms and conditions. Price is correct at time of going to press.