A couple from Darlington who never thought they would be able to afford a four-bedroom semi-detached house in their hometown are celebrating thanks to Karbon Homes and a government initiative to help first time buyers onto the property ladder.
Last year, Rowan Barnett and Connor Redden decided to start looking around for a bigger home that they could afford to rent. They were living in a two-bedroom terraced house in Darlington and knew they wanted something bigger so that they could eventually settle down and start a family.
They didn’t have enough money saved up for a deposit so the thought of buying a new home never even crossed their minds until they visited Karbon Homes’ Springfield Meadows development in Darlington.
While viewing the show home, they were introduced to the Rent to Buy scheme which is aimed at people like Rowan and Connor who would like to buy a property but don’t have enough savings to cover a deposit, allowing them to rent before they buy.
As rents are set at 80% of the local market rent, this offers the opportunity to save towards a deposit. They also have the option to buy on a shared ownership basis after 12 months.
They found their dream home on the development – a spacious family four-bedroom home.
“We absolutely love it,” said Rowan. “We have to pinch ourselves and often wander around the house saying, ‘Do you know what, we live here!’ Last year, we never imagined we would be able to move into a brand new home like this. We were living in a two-bedroom terrace house, which was so small with just a tiny yard. Now, we’ve got all this space in this beautiful home and we can now plan for the future.”
Connor said: “Rent to Buy is a brilliant scheme for first time buyers like ourselves who want to get onto the property ladder but don’t have enough savings for a deposit. We can now save for a deposit and will have the option to buy our home. It’s taken a lot of weight off our shoulders.
“We didn’t know much about Rent to Buy prior to our first visit but we would definitely recommend it. I’m so glad we decided to drop into Springfield Meadows that day for a look!
The £11m Springfield Meadows development offers a mixture of tenures including Rent to Buy, Affordable Rent and market sale to support the differing needs of the local community.