New Home Reach Properties In The South West
For house-hunters looking to purchase a brand new home in the South West of England on a modest budget, there’s a chance to ‘part buy-part rent’ at developments in the region thanks to Home Reach.
For buyers who meet the eligibility criteria, Home Reach is an opportunity to purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with housing provider heylo as the landlord. Heylo has teamed up with housebuilders to offer the scheme on selected plots at developments across England to provide all the benefits of homeownership but requiring a much smaller deposit (5% of the share price) and a smaller mortgage than when purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.
Here are a few examples of brand new properties available through Home Reach in the South West.
Somerset
Situated on the outskirts of Wells, Priory Fields is a collection of two-, three- and four-bedroom homes with a semi-rural location and excellent road links with Taunton, Bristol and Bath. The ‘Hazel’ is a three-bedroom house type which starts at £142,750 for a 50% share (full market value from £285,500). It has a sitting room at the front, kitchen/dining room at the rear, cloakroom, two double bedrooms (one with en suite), a single bedroom and a bathroom. The buyer will need a minimum of a 5% deposit of £7,138. A larger house type is called the ‘Spruce’. Off one side of the welcoming hallway is a sitting room with feature bay window, while on the other is the kitchen/dining room with French doors to the garden. The ground floor also accommodates a utility room, cloakroom and understairs storage. Bedroom one has an en suite and dressing area, while the other two bedrooms can share the family bathroom. Prices for a 50% share start at £201,412 (full market value from £402,824).
On the outskirts Paulton, High View offers apartments through Home Reach. A two-bedroom property starts at £115,998 for a 50% share, based on a full market value from £231,995. Both the open-plan fitted kitchen/dining/living room and bedroom two have a Juliet balcony while bedroom one has an en suite. A storage cupboard off the hallway and the bathroom complete the layout. Every home comes with allocated parking.
Blackberry Hill
Bristol
Blackberry Hill is an apartment building, a low-rise collection of one- and two-bedroom properties with allocated parking. The surrounding area of Fishponds offers plenty of amenities of its own and is just four miles from the city centre. With Home Reach, a one-bedroom apartment here is priced from £123,250 (based on 50% share of the full market price £246,500) and a two-bedroom unit is priced from £144,875 (based on 50% share of £289,950). For the latter, the dual-aspect open-plan fitted kitchen/dining/living room has doors to a Juliet balcony, bedroom one has an en suite and bedroom two can use the family bathroom. A sizeable storage cupboard off the hallway is very useful.
Dorset
Blackmore Meadows is located in the picturesque Blackmore Vale, on the edge of the Dorset town of Stalbridge, with an array of shops, a supermarket, pubs, a primary school, sports clubs and community groups and facilities. The spacious three-bedroom ‘Spruce’ house type is also available here, priced from £196,000 for a 50% share, based on a full market price of £392,000. This will require a minimum 5% deposit of £9,800.
The ‘Burnet’ house type
Wiltshire
Located next to Eden Vale Lake, the home of Westbury Sailing Club, is a collection of high-specification two-, three- and four-bedroom homes at Spinnaker. Local amenities and travel links are within easy reach of the front door. As an illustration of the variety of properties available under Home Reach, there’s a three-storey semi-detached house for sale here priced from £146,000 (based on 40% share of a full market value of £365,000). The ‘Burnet’ has a living room, kitchen/dining room and cloakroom on the ground floor, two bedrooms on the first floor (where bedroom one has en suite and a Juliet balcony), and two more bedrooms and the family bathroom on the top floor.
Gloucestershire
Saxon Gate is in Wickwar, which offers lovely surrounding countryside, some high-quality local schools, and proximity to Chipping Sodbury, Charfield and major roads to more distant locations. The ‘Mountford’ is available through Home Reach. This double-fronted house type has a dual-aspect kitchen/dining room off which is a utility room with extra worktop and storage. There’s a separate living room and a cloakroom downstairs. There are two double bedrooms (an en suite shower room to one of them), a single bedroom and a bathroom. This home is priced from £203,988 for a 50% share (full market value from £407,976).
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