Not every new build home presents a better financial proposition than buying a Victorian or existing property. However more certainties exist when it comes to buying a new build home concerning maintenance costs, energy bills and modern fittings. In fact, owners of a new build can save up to £1,400 a year on utility bills compared to a Victorian home*. First time buyers Adam and Fiona made the leap from renter to buyer through Shared Ownership at Oval Quarter in SW9 while escaping a damp Victorian flat in Clapham. Here is their story.
Why they chose a new build home at Oval Quarter
28-year-old Fiona says: “Adam and I were renting a one bedroom, ground floor flat in Clapham Junction, which was a converted Victorian house. Being such an old property, it had many problems – it was cold, damp and mouldy, and very expensive to heat as a result. After this experience, we knew that when it came to buying our own house, it would be a new build. We had been saving for a while, and Adam is an avid reader of the property pages in magazines and newspapers, which is how we discovered Notting Hill Sales. We liked what they were offering, and decided to visit two of their nearby developments, one of which was Oval Quarter”.
More choice, better design
While personal choice is the main factor to choosing one build over another, the choice is not as high with Victorian homes, particularly for starter homes. Nevertheless, first time buyers can look forward to high quality materials, modern design, better insulation, efficient heating systems and new communities of likeminded individuals. Fiona says, “The community here is wonderful. Everyone is so friendly and we all get on so well- we even have a litter pickup scheme between ourselves and are redeveloping the communal gardens, which is lovely to be involved with. We can’t believe how lucky we have been to find such a wonderful home.”
An easy commute from a home you can call your own
Living in a familiar area with an easy commute to the city is one of the major reasons why Londoners tolerate house shares for so long. But Fiona and Adam got all the above at Oval Quarter. “We visited the show home and knew that this was exactly what we were looking for. It was well located, as I can get a bus from right outside to where I work at University College Hospital, and Adam can cycle into Farringdon. The apartments are spacious, the design was modern and most importantly it was warm and dry”.
Just nine three bedroom apartments remain in the final phase of apartments at Oval Quarter with shares starting from £175,625 (25% share of £702,500). The development is just ten minutes to the heart of the capital, making the location remarkably central but surprisingly quiet and leafy. The development brings more than 800 new homes creating a smart, central and popular location to live.