House-hunters in Warwickshire on a modest budget who are trying to get a first step on the property ladder may feel that they will struggle to afford it, but the Home Reach scheme may be a solution.
Home Reach is a ‘part buy-part rent’ partnership between housing provider heylo and a number of housebuilders across England. It is open to first-time buyers who meet the qualifying criteria and is 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. This is all the benefits of homeownership but requires a much smaller deposit and mortgage than purchasing outright. Owners can buy further shares as their budget allows, until they own 100%.
There are currently a range of Home Reach properties available across Warwickshire to suit all kinds of first-time buyers.
Hansford Park
Hansford Park is taking shape just to the east of Rugby, ideally located for easy access to the town centre, the M1 and M45. The ‘Hilmorton’ is an ideal first home, a one-bedroom apartment with dual-aspect open-plan kitchen/dining/living room and double bedroom. It’s a Symphony kitchen with plenty of cupboards and worktop, and it has a fitted oven and four-ring hob. There’s also high-quality sanitaryware and fittings to the bathroom, and some useful storage off the hallway. On selected plots here, until 31 July 2021 there’s an offer of free flooring. Prices start at £66,360 for a 40% share, based on a full market price of £165,900. This will require a minimum deposit of £3,318.
For someone needing a bigger home, also at Hansford Place are a number of three-bedroom houses through Home Reach. An example is Plot 125, ‘The Hatfield’ which comes with kitchen/diner, a living room with French doors to the garden, under-stairs storage, downstairs WC, two double bedrooms (one with en suite), a single bedroom and a family bathroom. This home costs £140,000 for a 50% shared, based on a full market price of £280,000.
The ‘Holly’ at The Pavilions
Around six miles south of Coventry is The Pavilions, in Kenilworth, a well-served town with lots of amenities, well-rated schools, a host of green open spaces and its own station. At this development, the ‘Holly’ is a smart two-bedroom house priced at £187,000 for a 50% share (based on a full market value of £374,000). Downstairs is a spacious, garden-facing kitchen/dining area, a downstairs cloakroom, and storage under the stairs. Upstairs are the bathroom and the two bedrooms, both doubles, with en suite to bedroom one and built-in storage to bedroom two.
The ‘Larch’ at Crown Hill Gardens
In the village of Radford Semele, just east of Royal Leamington Spa, the development of Crown Hill Gardens currently has a house which could make a perfect option for a growing family. This three-bedroom detached home is called the ‘Larch’ and it is for sale for £215,000 for a 50% share (based on a full market price of £430,000). It’s a double-fronted house type: off one side of the entrance hall is a sitting room and off the other, an ideal home office room. Past the cloakroom and under-stairs cupboard and at the rear, across the full width of the home, is an open-plan kitchen/dining/family room with bi-fold doors to the garden. Upstairs, alongside a family bathroom, bedroom two is a double and bedroom three a single. Bedroom one is special, the double-bed main room complemented with an en suite and the luxury of large dressing area at the rear.
‘The Walton’ at Furrowfields
Also close to Royal Leamington Spa, at the village of Bishops Itchington, is Furrowfields. Home Reach is available on an impressive array of one- and two-storey homes with from one to three bedrooms. There’s a special offer right now on Plot 24, which is a one-bedroom bungalow called ‘The Walton’. It is priced at £112,000 for a 40% share (full market price £280,000) and the offer, available for reservations until 31 July 2021, means that it comes with the cost of flooring included and £1,500 towards legal fees. It’s a lovely design, with kitchen/dining room, sitting room with French doors to the back garden, a bathroom and a study at the front of house with a large built-in storage cupboard.
Top-of-the-range here at the moment is ‘The Cypress’, a three-bedroom/two-bathroom house with detached garage, priced at £195,000 for a 50% share (based on a full market value of £390,000). Find out more about Furrowfields from Home Reach.
‘The Rowan’ at Regency Grange
There is also an example of ‘The Cypress’ for sale at Regency Grange in Warwick, which is priced at £196,000 for a 50% share (full market price £382,000), but there are other options. One is ‘The Rowan’, which is priced at £175,000 (50% of the full market value of £350,000). This well-laid-out home has its kitchen at the front of the house, which opens out to the spacious living room/dining room, which then leads out to the rear garden via French doors. Upstairs there are two double bedrooms, one which has an en suite shower room, and a single bedroom that could easily function as a dedicated home office. In addition to the downstairs WC, there’s a family bathroom off the landing.
Find out more about Home Reach properties for sale across the West Midlands region.
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