For young labourer Daniel Lee it was a dream to own his own home. And the 20-year-old has finally managed to step onto the property ladder after buying a two-bedroom apartment at Waterside Reach, Tonbridge – the development on which he worked.
Daniel, who also works as a warehouse operative, had been looking to buy for a while: “I’d seen a few places but nothing leapt out at me, then when I got a job at Waterside Reach, I realised that was where I wanted to live.
“The location was perfect, close to shops, supermarkets and the train station, and the apartments were stylish and modern – just what I wanted.”
Situated on the banks of the River Medway, in Kent, Redrow’s Waterside Reach offers a choice of one, two and three-bedroom apartments.
And while purchasing a new home might seem out of your reach, thanks to the Government-backed Help to Buy scheme you could secure a brand new home with only a 5% deposit.
Or, like Daniel, you might be lucky enough to get a little help from the ‘bank of mum and dad’!
“My parents knew I was looking for somewhere of my own and they saw this as an investment opportunity,” he said. “It also means that instead of paying dead money in rent to someone else for years, I have my own home and something to show for my cash at the end of it. It made far more sense and saves me money in the long run.”
Daniel revealed dad Mark paid the 10% deposit of £27,000 for his two bedroom apartment which is in both their names.
“If my parents hadn’t helped me there’s no way I would have been able to put the deposit forward, so they paid that leaving me to handle the mortgage repayments.
“I’m delighted to be on the property ladder and self-sufficient. At 20 it was about time,” he smiled. “I have a flatmate, a friend of mine, and we’re even managing to keep it clean and tidy.
“There aren’t many of my mates who have their own homes so they’re quite jealous.”
Kerry McCoubrey, sales director for Redrow Homes (Eastern), said: “Waterside Reach has proved to be a really popular development.
“It has attracted a host of purchasers, from investors to owner-occupiers, and first-time buyers who have used Help to Buy to reduce the initial cost of ownership. It goes to show that owning your own home is now easier than people might think.
“The majority of apartments have now been sold but there is still availability so we would urge would-be buyers to act fast to avoid disappointment.”