First-time Buyers are looking beyond the City
It probably won’t come as too big a surprise, but in a recent survey by Nottingham Building Society it was found that many younger homebuyers were more in favour of a rural location for their first home over buying in the city. While apartments across major UK cities are becoming more affordable, the cost of them is still quite substantial and there are better deals to be had looking out of town.
A better quality of life
The survey asked questions of millennials, those in between the ages of 20-37 and discovered a third of this age group were saving for a home. Just over ten percent were planning on taking out a mortgage in the next year. And when it comes to where they are looking to buy their first home, the majority (over sixty percent) were keen to move to a countryside location where they feel they would get a better quality of life. Somewhere where there would be a better sense of community and more activities available to them, closer by. And a third of those surveyed responded that they would never live in a big city.
Planning for the future
Of course, it all comes down to personal choice, nonetheless it is interesting to learn that most of the millennials questioned in the survey are not keen on living in the city. If you consider important factors such as house prices and cost as well as quality of living, then it’s easier to understand why a more rural location is preferred. And when it comes to new homes, many new developments across the country offer not only competitive prices thanks to their out of town location, but also more offers and incentives to buy. This alone makes them more lucrative for first-time buyers. And larger new home developments are carving out new community spaces alongside the homes built, with green spaces, parks, shops and other services on hand.
A forever home
The other deciding factor when choosing a house in a rural location rather than an apartment in the city is the idea of having more of a ‘forever home’. There’s been a shift in attitudes with first-time buyers, fewer are now wanting to get on the property ladder and sell to move to something bigger in a few years’ time. Such is the property market that first-time buyers are looking to live longer in the first property they buy, opting against a smaller apartment and investing in a larger property with multiple bedrooms and a garden. This gives them the opportunity to not only settle into their community but also get financially ready for starting a family.
New developments out of town with New Homes Places
If you are a first-time buyer looking for an affordable first home out of the city, here’s just a couple of examples of homes we have available on new developments across the country.
Brierley Heath, a new development on the edge of Nottinghamshire
A new development of three and four-bedroom homes designed with modern living in mind. Brierley Heath is a new development on the edge of Nottinghamshire. It’s only two miles from the Derbyshire border with the nearby market town of Sutton-in-Ashfield offering shopping and leisure facilities as well as a warm sense of community spirit. With easy access to the M1 for commuters, the development is also close by to two golf courses as well as the National Trust’s Hardwick Hall.
The Alderton, a charming 3-bed detached house on the Brierley Heath development. It features a luxury fitted kitchen, en suite and fitted wardrobes to the master bedroom and an integral garage, It also has Help to Buy available.
Wigston Meadows, a new development of homes in Wigston, Leicestershire
A new development of three, four and five-bedroom homes in a semi-rural location. Wigston Meadows is surrounded by open countryside yet conveniently located nearby the town’s amenities with its excellent nurseries and schools. For commuters there’s easy access to several motorways with Leicester being only a 20-minute drive away.
The Eskdale, a spacious three-bedroom detached home with a traditional style. A great family home, it overlooks green open spaces, features an open-plan kitchen/dining room and has a single detached garage with driveway parking for three cars. Just a 5% deposit is required using Help to Buy.
If you are looking to buy a new home as your first property and would like advice on the best deals available as well as the best areas for you, contact us with more details about the home you’re looking for.
