AFFORDABLE HOMES
HOME REACH MAKES SPACE FOR YOU AND YOUR FAMILY ON THE PROPERTY LADDER Keld
With many shared ownership properties accommodating single purchasers and couples, Home Reach recognises the need for making family-sized homes across the country affordable too; a huge 80% of its upcoming pipeline is houses, providing families of all sizes with plenty of space to grow in the areas they want to live. Melissa Toomey, Director of Sales at Home Reach, comments, “Families are buying the lowest number of shared ownership homes of any demographic, and we think some of that is down to the homes on offer – they simply aren’t big enough for those with kids! This is why we’re putting a significant focus on bringing more family- sized homes across the UK to market through Home Reach, ensuring those feeling priced out of the areas they want to live have an alternative, more affordable option when it comes to getting on the property ladder or upsizing.” Home Reach offers an alternative route to help families on to the property ladder, giving buyers an opportunity to purchase a share of a new build home through shared ownership. The shared ownership scheme encourages buyers to purchase up to a 75% share of a home’s full market value, with starting shares varying across developments. Owners then rent at a cost of 2.75% of the unpurchased share per month and homeowners have the right to buy future shares or sell at any time. We’ve rounded up some of the best family-friendly developments currently available through Home Reach… Within the North Cornwall Area of National Beauty (AONB), Cornish Quarter boasts three and four bedroom detached homes, featuring open-plan layouts that ensure families have enough space to grow. The stunning town of Wadebridge straddles Did you know that only 15% of all shared ownership purchases between 2022-23 were made by families?
Cornish Quarter
the River Camel and is a key point in the popular Camel Trail, an 18-mile cycling and walking route that is perfect for an active family day out. The easy access to the county’s 300 beaches provides further family fun, offering a range of activities ranging from surfing to snorkelling. Buying at the Cornish Quarter is significantly more affordable than local alternatives, with Home Reach homes starting from just £197,500 for a 50% share of a three bedroom house. In a village celebrated for its strong community spirit and character, the Bella Wood View development in Goldthorpe, South Yorkshire, features three bedroom homes designed for family living. With a selection of local shops, schools and sports amenities all nearby, life at Bella Wood View comes with optimum convenience, making family life that little bit easier. All of this is set against the backdrop of natural beauty spots and scenic countryside views for the whole family to enjoy. Homes are available through shared ownership, with prices starting from £74,100 for a 30% share (full market value: £247,000). Situated on the outskirts of Nottingham lies Edwalton Fields, a thriving new
Edwalton Fields
community perfectly suited to family life. Offering easy access to nearby shops, leisure facilities, local parks and well- rated schools, residents of this popular development are never short of things to do. The two and three bedroom semi- detached houses feature separate living rooms, open-plan kitchen/diner and a family bathroom alongside the principal en suite. Homes are available through shared ownership, with two bedroom homes starting from £122,400 for a 40% share (full market value: £306,00). Home Reach offers a wide range of shared ownership homes across England. For more information on what Home Reach has to offer and the latest availability, visit homereach.org.uk
56 First Time Buyer February/March 2025
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