Spacious property close to high street amenities
SALES • LETTINGS • NEW HOMES • COMMERCIAL • FINANCE • P R I VAT E S A L E S • D I R E C T O RY
THE cost of getting onto the proper ty ladder has been escalating for decades now, and memories of homes costing less than six-figure sums are star ting to grow faint.
Figures from the Office of National Statistics now put the number at an average of £23,000 that a first-time buyer needs to get into their first proper ty. An entr y level home in England and Wales now costs on average £140,000.
A proper ty of this price would attract £300 in stamp duty, and an estimated £2,000 for moving and legal costs. Of course, the largest sum will be required for the deposit, needing £21,000 for a 15% down payment.
Interesting then, that HSBC recently suggested children should be encouraged to save money from an early age towards a deposit. When sur veyed, almost a quar ter of 18-25 year olds do not think they will ever be able to afford a home.
In London and the South East, the savings required for first-time buyers are estimated to be even higher, and around £55,000. It’s not surprising to then learn that parents of first-time buyers who choose to help their offspring pay an average of £24,800 per child.
There’s no question that whether acting for children, or as a first-time buyer, those who have made the conscious decision to star t saving early will cer tainly have a greater range of choice when the time comes to search for the all-impor tant first home.
The first-time buyer mor tgage market is currently rich with options, including 276 deals offered to those with a 5% deposit. Compare this to 2012, when there were far fewer options available, with just 59.
That said, an even greater range is available for those who are able to put forward a more substantial deposit, and this is why suppor t from parents and family is such an advantage where first-time buyers are for tunate enough to benefit from it.
If you’re a first-time buyer or a parent looking at how to suppor t your children, we’d love to talk to you about the local proper ty market and your options!
LAKIN and Co takes pride in being renowned as a dedicated and trustworthy independent estate agent, providing sales and lettings with an excellent customer service record.
The firm is able to offer clients a full range of services covering a wide area from its prominent Uxbridge High Street offices.
The large professional team all have a passion for property and extensive local knowledge gained from many years of living and working within the area.They have also inevitably forged excellent relationships with local solicitors, estate agents, contractors and large multinational corporations who go to them for properties and expert advice.
One of Lakin & Co’s recent sales instructions is a larger than average two bedroom first floor maisonette, for sale at £360,000. Having been refurbished throughout and benefitting from a long lease of 111 years, this property is ideal for first time buyers and landlord investors looking to be within close proximity of Ruislip High Street and tube links.
The property is in Glenhurst Avenue, a popular and quiet residential road approximately half a mile from Ruislip High Street which offers a wide variety of supermarkets, restaurants coffee shops and retailers. It also boasts the Metropolitan and Piccadilly Lines which provide access into central London within the hour.
West Ruislip Station (Central and Chiltern Lines) is approximatelyp y half a mile on foot.The A40/M25 junctions are also close by. Ruislip Golf Course surrounds the road and for families the property is just a short walk from highly ly regarded schools suchh as Bishop WinningtonnIngram Church Of England Primary School.
For more information, contact Lakin & Co today on 01895 544 555 to secure your viewing.
FIRST-FLOOR MAISONETTE:
This larger than average two bedroom maisonette has been refurbished throughout and benefits from a long lease. It is in a convenient location, just half a mile from Ruislip High Street.