Affordable housing scheme helps young Weymouth couple with a place to call home
Young Weymouth couple Rebecca Greening and Aaron Sharp were desperate to own a home of their own. For the past year the couple have been living with Rebecca’s parents in Littlemoor trying to save enough money for a deposit on a house.
“We were really grateful to my parents for allowing us to stay, but Aaron and I knew that eventually we would want to start a family and would need a place of our own,” says Rebecca. “The problem was that we just weren’t able to raise the money we needed for the deposit.”
Rebecca, a nursery school nurse, and Aaron, a supermarket worker, both aged 25, first became aware of the new Stonewater shared ownership homes at Pemberly when they saw a poster outside Rebecca’s parent’s house. Until then, the couple thought that they stood little chance of getting a foot onto the property ladder.
“We decided to look into it further and discovered that the Pemberly properties were not only affordable, but also the nicest shared ownership houses that we’d seen in Weymouth,” explains Rebecca.
Affordable homes from £68,000
The stylish new two and three-bedroom properties on the edge of Preston Down are part of the £5.3 million first phase of Pemberly, a 176-home development which is being built by Dorset-based builder F H Cummings off Louviers Road. Prices start at £68,000 for a 40 per cent share which makes them significantly cheaper than most properties available in the area. Priority for these homes is being given to first time buyers living or working in Weymouth and Portland. The new homes are within easy walking distance of shops, local transport and amenities, making the scheme particularly attractive to Rebecca and Aaron.
“We are so close to the town which is really convenient,” Rebecca says. “We’re also near to both of our places of work which is a real bonus!”
More financial flexibility
Aaron and Rebecca bought their two-bedroom house in Pemberly through the popular Stonewater shared-ownership scheme. This enabled them to buy a share of their home based on their joint income and savings and to pay the remainder as affordable rent. They also have the opportunity to purchase up to 100 per cent equity over the coming years if they want to.
“After initially making contact with Stonewater, we managed to secure one of the first two-bedroom houses to be completed,” says Rebecca. “I thought that Stonewater was really helpful in that they answered every phone query or email promptly which greatly increased our confidence. By the time our house was ready it only took another two or three weeks until we were able to move in.”
Rebecca and Aaron are hopeful that they will be able to save enough money through the affordable housing scheme to enable them to purchase the remaining equity in their house.
“We went for a 40 per cent share in our house initially,” Rebecca explains. “Ultimately we would like to purchase the remainder depending on how our financial situation changes in the next few years.”
What Aaron and Rebecca particularly liked about the Pemberly development was the modern style of the houses, the spacious layout of the rooms and their energy-efficient features.
“I love the contemporary style of our home and how open our kitchen and living room are,” Rebecca explains. “The bathroom is great, and contains modern features like a heated towel rail and the bedrooms are well decorated. Also, we love our little outdoor area, it’s the perfect size and comprises of a patio and grassy area which suits us perfectly.
“Stonewater has also provided us with an eco-friendly boiler and a water butt which will hopefully help us to save money on bills.”
Ready to move in
The couple also liked the fact that that they didn’t have to do any work to the property when they moved in.
“I appreciated that everything was brand new when we arrived,” Rebecca says, “I loved the modern décor and it was a relief to avoid the hassle and expense of redecorating. We were able to just enjoy the house.
“Aaron and I would definitely recommend a Stonewater shared ownership scheme to anyone looking to get onto the property ladder because after looking at every option, we found that this one was by far the most cost-effective. In just a few months we’ve gone from living with my parents to part owning our own two-bedroom house in a great location, so for us this has been the perfect home buying option.”
For more information about shared ownership, call Stonewater’s home ownership team on 023 8065 8858 or visit Stonewater Homes.