According to research by Make Room Outside Living, 71.4% of UK adults would consider some form of multi-generational living in the future.1 For those aged 25-34, the main reason was to buy a house amidst a backdrop of rising house prices, unattainable rents and unstable mortgage prices.
This is exactly what Whitfield couple Aaron and Nichole Groombridge (both 31) did before purchasing a new home at David Wilson Homes, by choosing to stay with their family during the arrival of their daughter, who is now three years old, to save up the funds to buy a family home.
The couple moved into their three-bedroom semi-detached home at David Wilson Homes’ Richmond Park development in December 2023. With one in five first time buyers now predicted to be over 402, the couple opted to live with Aaron’s family for four years to leapfrog into a family home and avoid the rental trap.
Aaron, a Border Force Officer, comments: “We have been prioritising saving and being careful to live within our means and one way we feel we achieved this was living with my parents for as long as possible. With the arrival of our daughter, it would have been easy to jump ship and to get stuck in the rental trap or bought a property we would grow out of in the next 2-3 years. Living as a multi-generational family meant that we could save way over half of what we could if we were renting and save on some childcare with my parents too. It was tough at times, however, we stuck with hardcore saving while making some big sacrifices, like not having control of what was on TV!’
According to Kent Live, research shows that UK rent prices have increased by almost a fifth in the past year, with Dover seeing an 8.7% rent increase since February 2024, standing as the fourth biggest increase in Kent behind Folkestone & Hythe, Shepway and Thanet.
Aaron adds: “By purchasing a family home at Richmond Park, we’re playing the long game and most importantly, avoiding the costly rental trap. Moving home every 2-3 years as families grow and need more space is costly, and we’ve seen many of our friends get tied up in moving and legal fees. We wanted to invest in our future for both Nichole and I and our daughter. Richmond Park is a long-term project and we aim to invest our time and effort into our house, now we have ample space for our daughter to have a spacious room and a primary school is on site too. We feel by going down this route we will reap the rewards by not feeling suffocated in our own home.”
The couple chose the Archford house type, a three-bedroom semi-detached home. “There’s lots of space and the main bedroom is so bright and airy,” says Aaron. The couple purchased the house for £316,995 with a £16,000 deposit, having taken a two-year 4.6% fixed-rate mortgage with Coventry Building Society. “Our monthly costs are now around £1,400 a month however we were used to putting lots of money away per month for saving and being very frugal with our luxuries. Buying a new build is also a simpler process as there was no chain to worry about, and we love that the new home is a blank canvas and that we were able to specify some of the finishes.”
Natalie Perry, Sales and Marketing Director for David Wilson Kent, comments: “We are seeing an increase in the number of first-time buyers in their 30’s who have waited to purchase a property which is larger and a long-term option, and many of our developments such as Richmond Park are perfect for young families looking to place down their roots. Nichole and Aaron have opted to invest in both their home and their future community living at Richmond Park, and we look forward to seeing them settle in and build a life for themselves.”
All new homes at Richmond Park have been designed with sustainability in mind, with smart design features to ensure the homes are environmentally and economically friendly. Features include energy efficient boilers, high levels of insulation and smart storage solutions. As well as this, David Wilson Kent has committed to the wider sustainability of the development, planting 20 trees, creating 24 bird and bat boxes and over 427+ hedgerows planted too.
Currently available at Richmond Park is a collection of three and four bedroom homes with prices starting from £324,995 for a three-bedroom home. To find out more about Richmond Park, visit www.dwh.co.uk or call 0333 3558 503.
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
