After renting a property in central Brighton for 13 years, Nigora, aged 44, dreamed of purchasing her own home. With house prices in Brighton skyrocketing, and years of renting making it difficult to save enough money for a deposit, purchasing a home outright in the city wasn’t an option.
With two of her friends successfully purchasing a home through Shared Ownership, Nigora decided to investigate this option for herself. Shared Ownership allows buyers to purchase a share of a property, typically between 25% and 75% of the property’s total value. Buyers will pay a mortgage on their share of the home, rent on the remaining shares and pay a monthly service charge.
After looking at a few different developments in the area, she was struggling to find a high-quality apartment in a central location at an affordable price point. Most of the developments she viewed offered a minimum share of 30%, which was still pricing her out of the market.
However, when she spotted that Guinness Homes’ Lyon Quarter development offered a minimum share of 25%, she immediately booked a viewing.
Love at first sight
When she stepped into the studio apartment, she immediately felt at home. “I walked in and instantly fell in love,” said Nigora. “Although it’s a studio apartment, it’s spacious enough to have a large living area – something I hadn’t found when looking at other developments.”
The apartment came with a contemporary, open-plan design and large windows that were designed to maximise natural light, making the space bright and airy. “My previous apartment was in the middle of a built-up area, and the surrounding buildings meant that it was always in darkness. My new apartment is the complete opposite, which really puts a smile on my face.”
The apartment even came with its own balcony, giving Nigora a private outside space. “Outdoor spaces are so rare for studios – I feel very lucky. I just love drinking coffee outside and watching the world go by.”
Location, location, location
Nigora’s previous home was noisy and chaotic due to its central location. She recalled, “I could never quite switch off, even though I was in my own home. I desperately wanted a change from the hustle and bustle of the city centre.” While she was keen to find somewhere quieter, she didn’t want to compromise on location and wanted to have a convenient commute to her job in the city centre.
Boasting a 15-minute walk both from the centre and Brighton Beach, Lyon Quarter is perfectly located to give residents the best of city and coastal living. “The development is tucked away, which allows my apartment to be a sanctuary where I can unwind. It’s always peaceful, even on my balcony.”
The buying journey
After viewing the apartment and passing the financial assessment, Nigora decided to take the plunge and buy her first home. Purchasing a 25% share of her £252,500 property meant that Nigora was able to put down a 10% deposit on her home. Although initially anxious about going through the homebuying process, Nigora was helped at every step by the Guinness Homes team, allowing her to move in just two months after she took that first tour.
“I was very nervous at the beginning, but my sales representative was incredibly helpful. He talked me through the process step-by-step, answering any questions quickly. The Guinness Homes team really went above and beyond.”
Comprising a range of studio, one, two and three bedroom apartments, the Lyon Quarter development is now ready to move into. If you’re searching for your dream home, give the team a call today at 01273 920 450, or visit lyonquarter.co.uk
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.
