Move In By Christmas With Home Reach In County Durham
For house-hunters in County Durham searching for a first home to move into by this Christmas, there are a few opportunities at developments across the county which are for sale through the Home Reach scheme.
Home Reach is a partnership between housing provider heylo and a number of housebuilders across England. It gives first-time buyers who meet the eligibility criteria a way of purchasing a share of a new build home (usually starting at 50%) and paying a subsidised rent on the remainder, with heylo as the landlord. The scheme is offered on selected plots at a development and provides all the benefits of homeownership but requires a much smaller deposit (5% of the share price) and smaller mortgage than purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.
Burdon Green is a new development offering “the best of both worlds”, located in the semi-rural community of Coxhoe but well positioned to the south-east of Durham city centre. As well as its nearby shops and amenities, it offers easy access to the A1 for many major local towns and cities.
The ‘Maidstone’ is a three-bedroom house with open-plan kitchen/diner with French doors onto the rear garden, a separate living area, downstairs WC, family bathroom, two double bedrooms (one with en suite) and a single bedroom. This is priced from £94,497 for a 50% share (full market value £188,995), requiring a minimum 5% deposit from £4,725.
Burton Woods is in Spennymoor, set in the wildlife haven on Whitworth. Less than nine miles from Durham city centre, country walks are on the doorstep and there’s easy access to the A1.
The ‘Ellerton’ is priced at £74,998 for a 50% share (full market value £149,995) and requires a minimum of 5% deposit from £3,750. It has a large open-plan kitchen with ample dining space, and French doors leading out to the garden. There’s a separate lounge. Upstairs, the main bedroom has an en suite shower room and there is a further double bedroom, a single bedroom and a family bathroom. An alternative is another three-bedroom house, the ‘Moresby’, a detached property with dual-aspect lounge, a kitchen/diner, downstairs WC, en suite main bedroom, another double room, a single and a bathroom. A 50% share of this home is from £96,495 (full market value £192,990) and requires a minimum of 5% deposit from £4,825.
‘Cannington’ house type
The Drive is in Durham near picturesque woodland, nature trails and views of open space yet within walking distance of the city. There are excellent schools and a top university nearby.
For sale here is the ‘Cannington’, a three-storey home with an open-plan kitchen/dining room with walk-in glazed bay, a ground-floor study, three double bedrooms with an en suite to bedroom one and an upstairs lounge. A 50% share starts from £161,995 (full market value £323,990), requiring a minimum deposit of 5% from £8,100.
Summerville Village is to the north of Stockton-on-Tees, a town with a host of shops, pubs, restaurants, cafés, hairdressers, beauticians and banks. Norton High Street, home to popular eateries and shops, is only six minutes* away. Via nearby major roads, Middlesbrough is about 16 minutes away while its’s 23 minutes to Darlington and 28 minutes to Durham.
There’s an opportunity here for three-storey living in the ‘Weybridge’. This comes with an open-plan kitchen/diner and a light and spacious living area that extends through bi-fold doors to the rear garden on the ground floor; two double bedrooms, a single bedroom and family bathroom on the first floor; and the master bedroom with en suite shower room and built-in storage space on the top floor. This is priced from £107,498 for a 50% share (full market value £214,995) and would require a minimum of 5% deposit from £5,375.
Find out more about current Home Reach developments across the North East of England.
Find retirement homes in County Durham
Find Help to Buy homes in County Durham
Find new homes in County Durham