Tuesday, May 28, 2024

Navigating Shared Ownership: Insights from the Developer’s Doctor

Explore the world of shared ownership with insights from Louise Mills, Sales and Marketing Director at St Arthur Homes. Discover the reasons behind the surge in affordable housing sales, the appeal of new build homes, and what sets St Arthur Homes apart in the competitive market.

Louise Mills is Sales and Marketing Director of shared ownership housing provider St Arthur Homes, which currently has developments across the South and South East of England, with plans to expand into the Midlands. Bringing a fresh approach to the affordable housing market, Louise and the rest of the St Arthur team believe in providing high-quality homes in desirable locations, while passionately expounding on the many benefits for buyers of choosing this route into homeownership.

The Rise of Affordable Housing Sales

I am a first time buyer, and I am looking at the various ways of getting on the ladder and I have a couple of questions, as I am getting a little confused. In the last year, there has been a 36% increase in affordable housing sales. Why do you think that is?

Response: We’ve certainly seen that jump reflected in our visitor and buyer numbers, and I believe there’s a few different reasons for that. Firstly, with Help to Buy ending, first time buyers have had to look at a different way of getting on to the property ladder, and shared ownership has proven ideal for many of them. Buyers can also choose to embark on a process which we call “staircasing” – which means that initially, they buy a percentage of their home and pay rent on the rest of it, then they can choose to buy further percentages of that property as and when they can, building up to 100% ownership if they wish. Also, with the cost-of-living crisis and house prices being what they are, shared ownership gives hard-working professionals the chance to be a homeowner much sooner, and often for less money, than the other options. It just makes sense.

The Appeal of New Build Homes and What Sets St Arthur Homes Apart

Question: What do you think is the biggest appeal of a new build home, from a [what do you think sets St Arthur Homes apart] perspective?

Response: Many of us at St Arthur Homes come from a background of working at national housebuilders, and we carry a lot of those values with us still. We absolutely believe that a shared ownership home can be an aspirational place to live, and in the current climate, they are needed now more than ever. Any stigma that people hold about shared ownership houses dissolves as soon as they look around one of our homes. We pride ourselves on supporting the homebuyer throughout the whole process – from the moment they first contact us, right through to long after they have the keys to their new home. But we also pride ourselves on the way we work with our partners on-site too. Building relationships with homebuilders is incredibly important, and we strive to be easy to work with, transparent and honest – so that we can continue to work with the very best builders and meet our aims of acquiring 2,000 new homes over the next few years.

St Arthur Homes’ Flagship Development: Whiteley Meadows

The first phase of St Arthur Homes’ flagship development, Whiteley Meadows, is nearing completion, with the next phase set to be released for sale in autumn/winter this year. Currently, there are only a handful of two and three-bedroom homes available for sale.

Homebuyer Experience

St Arthur Homes is committed to guiding the homebuyer throughout the entire process, from the initial contact to long after they receive the keys to their new home. The company takes pride in fostering strong relationships with homebuilders, emphasising the importance of being easy to work with, transparent, and honest. This approach allows them to collaborate with top-notch builders and work towards acquiring 2,000 new homes over the next few years.

What Makes New Builds Appealing?

From the buyer’s perspective, there are numerous aspects of a new build that make it more appealing than opting for an older property. One significant advantage is the energy efficiency of newer properties. According to recent research from the Home Builders Federation, buyers of new build properties can save an average of £3,100 on their energy bills each year.

Another appealing aspect of new homes is the absence of the need to fix mistakes made by past homeowners, deal with questionable decor, or rip out old units and appliances. A new build home provides a blank canvas to paint your own life onto.

Affordable Ownership Providers

The text raises the question of affordable ownership providers and highlights the availability of schemes like shared ownership. Cat Samuels and Tarryn Williams share their experience of purchasing a three-bedroom property at Whiteley Meadows through St Arthur Homes. They express gratitude for the shared ownership scheme, enabling them to own a home despite the challenging economic climate.

Testimonials from Homebuyers

Cat and Tarryn praise the location of Whiteley Meadows, just a few miles away from Fareham, as perfect for them. They commend the excellent service provided by St Arthur Homes, specifically mentioning their sales adviser, Trin, for guiding them through the entire process. The couple highly recommends St Arthur Homes to others based on their positive experience.

Future Amenities at Whiteley Meadows

Upon completion, Whiteley Meadows will feature two primary schools, a secondary school, and two nurseries, making it an ideal location for families. Convenient shops, charming cafes, leading restaurants, a cinema, and leisure facilities are also nearby at Whiteley Shopping.

For more information, visit starthurhomes.com.

Ready to explore more insights on shared ownership and the first time buyer market? Dive into the full magazine at First Time Buyer Magazine.

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.

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