New Homes for First-Time Buyers: What to Buy and Where to Look

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Despite the risks and difficulties, first-time buyers’ appetite for their own space remains strong.

In these uncertain economic times they will be looking for the perfect first property more than ever.

That’s what our New Homes Awards judges are doing when they start sifting through the entries to find the best options for buyers on the first rung of the property ladder.

Developer incentives for first-time buyers

From £737,000: Flat in Fish Island Village in Hackneywick

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Homebuilders offer juicy incentives, from cashback payments to furniture packages, as a way to help first-time buyers.

On Fish Island Village In Hackneywick, east London, developer Hill is offering sweets of up to £22,000 to buyers who buy a three-bedroom flat, priced at £737,000. The deal includes an interior design package, a paid service charge for the first two years, and free broadband for two years.

And on GadIn Hemel Hempstead, Hertfordshire, Hull is currently offering up to £12,000 towards deposit costs on flats priced from £272,950.

Meanwhile, in Deptford, south-east London, housing association Peabody will contribute up to £33,375 towards deposit payments during its development. the sceneClose to the Thames, where two-bedroom flats start at £570,000.

Perks: Buyers of a £385,000 home in a high street quarter in Hounslow will be given £6,000 towards their mortgage payment.

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Buyers who choose a shared ownership home at Peabody’s. Valley HouseCharlton, south-east London, will receive a move-in package worth £7,000, including £5,000 cashback. Prices start from £105,000 for a 25 per cent share of a two-bedroom flat.

Barratt London offers discounts on certain flats across all its schemes. A buyer of a £385,000 one-bedroom house on it High Street Quarter In Hounslow, west London, for example, £6,000 will be given towards your mortgage repayments during the first year of living.

What do buyers want?

Freebies aside, homebuilders also need to offer impressive design and the promise of a luxurious lifestyle to entice first-time buyers. This combination of style and substance has long been championed by the Meczyki New Homes Awards.

As memories of life in lockdown begin to fade, outdoor space remains a top priority for first-time buyers, says Bernard Marks’ Peter Creel.

“You need not only some form of communal space, but a decent-sized private balcony or terrace,” he said.

“Storage space is also important for many people – somewhere to store bicycles and sports equipment. Superfast broadband is in high demand, not just for people who work from home, but those For people who stream.

Outdoor Space: View of houses with balconies near the Thames in Deptford

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Amenities, both on site and nearby, are a big draw, says Nick Vaughan of Savills’ residential development sales team.

“Proximity to transport, gyms, parks and boutique independent cafes, restaurants and shops are all high on the wish list,” he said. “In terms of site facilities, the provision of workspaces or ‘experiential’ facilities is becoming increasingly important.

“Developers are increasingly thinking beyond traditional amenities and are looking to provide amenities such as gaming spaces, media and music rooms and wellness facilities.”

Another issue is security. “Many first-time buyers are single women, so security is paramount,” says Michael Zucker of Jeremy Leaf & Co. Near stop or station. is a priority.”

Jack Reid, director of Orlando Reid Estate Agents, says first-time buyers can start enjoying a low-maintenance home immediately, without the need for tedious construction work. If the site is Instagram friendly, they are often willing to overlook the downside.

“Often, if the property offers a ‘wow’ factor, buyers are willing to move further away from the high street and public transport,” he says.

Best areas for first time buyers

First-time buyers also want to live in a location where better value for money and a return on their investment is on the cards.

In London this could include Southall, which is currently one of the cheapest places to buy a new home along the Crossrail line and travel to central London or the city in less than half an hour.

Berkeley Homes is six years into a 25-year plan to relaunch Southall Gasworks as a new neighborhood. Green QuarterIt includes 3,750 homes, a wetland park, a towpath along the Grand Union Canal, shops, restaurants and a primary school.

In the pipeline are £1 billion plans to convert a former margarine factory site into a further 2,000 homes with offices, shops and a park. Outline planning permission has already been granted for the resumption of the Maypole factory plus the former Sunrise Radio studio to the design of Asel Architecture.

From £350,000: Flat in Gun Hill Park in Aldershot

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Outside London, the military town of Aldershot, Hampshire, is also enjoying a spat and polish that is driving up prices.

The historic Cambridge Military Hospital is being redeveloped by Weston Homes, as the centerpiece of a £60m multi-million pound regeneration project on 371 acres of ex-military land. But houses Gun Hill Park Start from £350,000 for a one-bed flat.

Developer Granger, meanwhile, is spending £230 million building an extension of Aldershot around Gun Hill Park, which is decommissioned military land. By 2030 it will include new schools, community centres, leisure facilities and 4,500 homes, all surrounded by a further 272 acres of woodland.

And Aldershot’s slightly drab town center is also getting an upgrade. Two of its old shopping centers are being demolished and rebuilt around a new high street area.

‘London was not an option due to costs’

With a baby due in August, Toby and Rebecca Jackman decided it was time to move out of their rented flat and into their own family home.

Last December, they left their £1,500-a-month home in south London for a new one. Black in WinteringhamCalla Homes development near St Neots, Cambridgeshire.

“We knew it wasn’t going to be an option to buy in London because of the prices,” said Tobey. “We would only be able to afford a small flat, which would not be suitable at all.”

Traveller’s Life: Rebecca and Toby Jackman can reach London by train in less than an hour.

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After hours of research, the couple chose Winteringham in part because they could reach the capital by train in less than an hour. And their monthly expenses as a home owner are the same as what they were spending on rent.

“I had a mad spreadsheet of locations detailing house prices, nurseries, distance from parents and commuter costs,” said Rebecca. “Winteringham just ticked all the right boxes. The train station is only a 10 minute walk away and there is an excellent school across the road.

The couple were also looking to move into a regeneration area with new amenities on the doorstep. Upon completion, Winteringham (cala.co.uk) will have a play area, cycle and running paths, shops, a library, a health center and a primary school.

Deptford: ‘Ideal for puppies’

When Ivan Sokowski and Mikolaj Zielewski started house hunting, room to work from home and a place to keep their lockdown dog were at the top of their wish list.

They chose a two-bedroom duplex apartment. the scene in Deptford, which he now shares with his four-month-old cockapoo, Griffin.

Ivan, 31, and Mikulaj, 33, who both work for a pension company, put down a five per cent deposit to secure their flat and are now enjoying exploring their new neighbourhood.

Mikolaj Zalewski and Ivan Tsokovski enjoy exploring their new South East London neighborhood with Griffin cockapoo

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“Deptford has lots of lovely places to walk,” Evan said. “Our favorite place to go is Deptford Park, which is a great place for Griffin to run around, just a 15-minute walk away. travel, and there’s also a small doggy park locally that’s great for puppies.”

They are also impressed by the local pubs and restaurants, as well as good transport links, and love the flexibility offered by their split-level home.

“Being a duplex, it also means we can easily separate day and night, which you don’t get with a traditional apartment that’s all on one level,” Mikulaj said. said

Prices for two-bedroom apartments and duplexes at The Scene start from £565,000. visit theScene-SE14.co.uk For more information.