Leading homebuilders Barratt Homes North Midlands and David Wilson Homes East Midlands are breaking the myth that renting is the cheaper option for Warwickshire residents.
Monthly renting costs are often higher than mortgage payments now interest rates are at an all-time low and the first step onto the property ladder may be more manageable than many people first think.
A recent survey conducted by the developer has found that 44% of Warwickshire residents believe that mortgage repayments are more expensive than monthly renting costs, a myth which it is keen to break.
The homebuilder is also reminding those choosing between renting and buying of the benefits of owning a property, which include a sense of security, the freedom to make your house a home and knowing your money is going towards a financial investment.
Jan Ruston, Sales Director at Barratt Homes North Midlands, said: “Purchasing your first home can seem daunting but for many people it may be more achievable than it seems. With no Stamp Duty to pay for first time buyers on properties up to £300,000, low interest rates and initiatives such as Help to Buy, now is the perfect time to make your first move.”
Help to Buy is a boost for those looking to buy a property under £600,000. Under the scheme property seekers can purchase their new home with a low 5% deposit and 75% mortgage, with the remaining 20% made up from an equity loan provided by the government.
Jan added: “We want to change the perception that buying a home is out of reach and are asking first time buyers, why rent when you can buy? It is not the case that renting is more expensive than buying and monthly mortgage repayments can be less than rent.
“I would encourage anyone interested in owning their own home to visit our expert Sales Advisers at our developments to find out about all the advantages of buying a home with the Help to Buy scheme.”
Barratt Homes North Midlands is currently building properties across Warwickshire at the following developments: Deram Parke in Coventry, St James’ Gate in Weddington, The Long Shoot in Nuneaton and Warwick Gates in Heathcote.
David Wilson Homes East Midlands is currently building properties across Warwickshire at Poets Meadow in Heathcote and The Long Shoot in Nuneaton.
Located in close proximity to The Long Shoot is David Wilson Homes’ development The Spinney in Burbage, where a range of homes is also available.
For further information about any nearby developments, please call the David Wilson Homes sales team on 0844 811 5544 or the Barratt Homes sales team on 0844 811 3377. Alternatively, you can visit www.dwh.co.uk or www.barratthomes.co.uk.