Despite the challenges, buying is still best
Our Director of Sales and Marketing, Paul Furner, featured in the Western Morning News’ Autumn Property Review discussing how Cavanna Homes can help buyers secure a new home with the support of our cash back deal.
No one would deny the challenges for house-buyers at the moment.
While mortgage rates are slowly dropping and inflation is at last going in the right direction, we know that cost of living difficulties remain for many people.
Yet despite all the financial challenges, we sincerely believe that if you are able to buy a home and want to move house, it is the right option.
Rising rental costs often outstrip the cost of a mortgage on a first property, while the stability and sense of community that comes from moving into your own home can be a priceless bonus for families.
As specialist Westcountry-based house-builders with long experience of providing properties for first-time buyers, we know, however, that the first year with a mortgage can be financially daunting. In the same way moving costs, whether taking on a larger home or downsizing, can be substantial.
To ease the pressure, we’re offering a cash back deal for purchasers of selected properties. For one year after the purchase of a selected new home at Cavanna @ Elm Park in Exeter, buyers will be gifted £1,000 a month to help towards bills, mortgage payments, or to rebuild savings. That’s £12,000 over a full year, returned to homebuyers’ bank accounts.
The available properties, on the southern outskirts of Exeter, are two and three-bedroom, built with modern living and energy efficiency in mind. They’re well-placed for access to the city centre, M5, A30 and A38, and the newly opened 52-acre Ridgetop Park is right on the doorstep too.
The housing market has been subjected to pressures from several different directions in recent years. In Devon and Cornwall, where Cavanna Homes has been in business for exactly 100 years this year, demand has traditionally been strong.
A recent survey by online property sales specialists Zoopla found that around 70% of holidaymakers who came to the region explored the cost of buying a home here after their stay – with almost one in ten actually making the move to the South West.
That’s a great endorsement of our region as a place to live, whether to bring up a family or retire. It is that sustained demand for properties in the South West which has made investing in a home in the region a positive move for many.
Another property sales website, Rightmove, also delivered some better news for home-buyers. Its September house price index reported a small fall in average five-year fixed mortgage rates, down to 5.67% – some relief for first time buyers.
Taking the decision to buy a new home is one of the biggest and most important purchasing choices many of us will make. Those decisions become more difficult when economic times are tough. But at Cavanna Homes we believe there is ample evidence to support the idea that buying is best. And, where we can, we’re doing our best to help.
