Buying, selling and letting - Tuesday, October 02, 2007

The Exeter office of Savills has been instructed to sell Waterside House set in the sought after village of Stoke Gabriel in the famous South Hams region of South Devon.

As the name implies, Waterside House is perfectly located on the water’s edge, enjoying spectacular views from the many windows, balconies and terraces over the unique Mill Pool to the deciduous wooded banks beyond or down stream to the tower of the parish church of St Gabriel and St Mary with the River Dart beyond.  With steps leading down to the river via the terraces and balconies, the house is ideally placed to enjoy not only the water frontage, but also the south Devon countryside, Dartmouth and Totnes being about 4.5 and 5 miles away by boat and Torbay about 6 miles away.  The stylish accommodation includes a master bedroom suite with river balcony, a guest suite, 2 further bedrooms, open living space with dining area, sitting area, kitchen, laundry room, study, cloakroom, family bathroom, shower room, games room with kitchenette, studio and workshop and would provide the discerning owner with a property which is just perfect to entertain in.

Stoke Gabriel is picturesquely scattered on the east bank of the estuary of the Dart and is surrounded by beautiful and unspoilt undulating countryside.  This ancient and unspoilt village retains much of its period charm with records showing that a church has been in the village as far back as when William the Conqueror defeated King Harold in 1066.  Set within the church grounds is the famous yew tree reputed to be nearly 1300 years old and rumour states if you walk backwards round the tree three times your wish will come true!

Richard Addington of Savills says “Looking over the Mill Pool at sunset from the balconies is amazingly calming.  Whether you had this house for a permanent or holiday residence, the benefits are obvious”
Waterside House is being offered for sale at a guide price of £1.5 million.

Tax may well be playing on the mind of many property investors as they prepare to file their self assessment tax return. Although the final deadline is the end of January next year, for those who want the Inland Revenue to calculate their tax for them the deadline 30 September.
The problem for many investors is that the complexity surrounding tax issues means it can be very hard to know what is and isn’t deductable – the end result being that investors can end up paying too much or too little in income and capital gains tax.
Before you tackle your tax return this year it is worth ensuring you have considered everything you can to correctly minimise your tax bill.

GET ORGANISED

Property investors need to be organised. A separate bank account should be set up and investors should keep track of rental income and expenditure, holding on to all relevant receipts. Hiring professionals such as accountants and solicitors will help to make the process much easier. Any professional or legal fees can be offset against the rental income. However, fees incurred during the actual buying process cannot be claimed until the property is sold.

SINGLE OR JOINT OWNERSHIP

If the property is owned by more than one person then careful consideration needs to be given to the form the ownership takes, whether it is joint ownership, partnership or through a syndicate, each method will have its own tax implications. As the Inland Revenue assess income individually, each legal owner of the property is required to submit an annual return.

OFFSETTING EXPENSES AGAINST RENTAL INCOME

Income tax is payable on rental income after allowable deductions have been taken into account and the list is extensive when it comes to what is and isn’t deductable. Investors can offset costs including utility bills when properties are empty, management agents’ fees and interest paid on borrowing costs, including mortgages and loans.
In addition, costs relating to repairs of maintenance can be offset. However, improvements made to a property, such as adding a conservatory are not tax deductable, but they can be offset against the capital gains tax liability when the property is sold.

RUNNING YOUR PROPERTY AS A BUSINESS

A buy-to-let property should be treated as a business and as such certain costs associated with running the property are deductable. These include marketing and travel costs and office costs such as a proportion of the utility bills and office equipment.

EXIT STRATEGY

When it comes to selling the property there is likely to be capital gains tax on any profit accrued on the property, which could be up to 40 per cent. However, there are steps which you can take to reduce the bill. For example, you can claim exemption on the tax for the period you have permanently resided in the property and the final 36 months of ownership, irrespective of whether you have lived there. Other tax breaks include taper relief and personal capital gains allowance of up to £8,500.

PLAN FOR THE NEXT GENERATION

It is vital to plan for the next generation and to protect your assets from inheritance tax (IHT). The current threshold is £300,000, which means you are likely to be liable for inheritance tax, especially if you have a portfolio of properties. However, there are various methods for reducing IHT. It is worth consulting a professional to ensure you minimise your family’s bill. It is essential to make a will, to ensure your estate is passed on according to your wishes and if your property is overseas you should seek inheritance tax advice and write a local will, as your British will might not be accepted.
Whether you are buying in Britain or overseas you need to be fully aware of all the tax implications. Don’t be fooled into thinking you won’t be found out, the authorities now have the power to discover exactly what your income is whether it’s here in Britain or overseas. Be prepared, pleading ignorance will never count in your defence.

David Austin is managing director of Property for Life. Visit propertyforlife.com

Most people rent because they believe they cannot afford to buy. But what if there was an option to own a place for the same or less than what it costs to rent? Amanda Shiel spotlights one such competitively priced development.

Milliners Place combines the conversion of a former hat factory three new buildings on Midland Road to create 119 luxurious one-, two- and three-bedroom apartments. Situated in the town centre, Milliners Place is a five-minute drive to the M1, making the North and South of England easily accessible. It’s also a short walk to the train station, which offers the town’s commuters fast trains to London’s St Pancras in just 23 minutes and an easy commute to Luton Airport. 

Redeham Homes has sensitively converted Milliners Place to retain the building’s original Georgian architecture, while creating stylish apartments that maximise the available space and light. The apartments have been built to a high specification including a choice of kitchen designs incorporating an integrated stainless steel oven, extractor hood, fridge/freezer and washer dryer. A choice of layouts includes open-plan and semi-open plan styles as well as those with separate kitchens.
The contemporary bathrooms include Roca Laura wall-hung white sanitaryware complemented by Grohe fittings, thermostatic showers and heated towel rails. To provide purchasers with an added level of style and luxury, a range of the apartments include en suite facilities to the principal bedroom. Some of the apartments also benefit from balconies or terraces. Private parking is also available at the development.
Milliners Place is ideally situated for Luton’s wide range of facilities and amenities including the Arndale Centre, which is within easy walking distance.

Prices for the remaining apartments at Milliners Place start at £130,000 for a one-bedroom apartment and from £170,000 for a two-bedroom apartment. For further sales information contact Redeham Homes on 01582 456692 or visit redehamhomes.co.uk.

We look at a no-nonsense guide for landlords who let to students
 
The Landlord’s Guide to Student Letting is an invaluable guide to understanding the continuous flux of a profitable market and the legislation attached to it.

Written by seasoned student landlord Catherine Bancroft-Rimmer, it is candid about the pros and cons of student letting, making complex and confusing legal procedures easier to understand and act on.
Sample letters, forms and useful addresses of organisations are included to help the landlord. Rimmer also takes into account the long-term view of the student letting market nationally and shares her knowledge about potential future changes made by the government which will have a long term impact.
If you’re interested in investing in student housing, The Landlord’s Guide to Student Letting will arm you with information about your rights and responsibilities and prepare you for the highs and lows of landlord life.
 
The Landlord’s Guide To Student Letting by Catherine Bancroft-Rimmer is published by How to Books Ltd and is available at £10.99 in major bookshops and online retailers.  
howtobooks.co.uk

Lettingagent.com offers advice for those considering entering the student property market.

Letting to students is a popular way to realise value from your property investment. But there are things you should keep in mind to help ensure success.

Think carefully about location Local knowledge is invaluable. Know where the ‘student areas’ are and be wary of up-and-coming areas. Similarly, avoid places where students wouldn’t want to live in or would not be welcome. Not all university towns are equally profitable. Do research by talking to local agents about what yield to expect.

Choose a reliable letting agency An efficient, experienced and professional letting agent is crucial for landlords with demanding full-time jobs. A third party can save the hassle of dealing directly with tenants when things go wrong – and can save a considerable amount of money in property repairs. Landlords should choose letting agents that are registered with an official organisation, such as the Association of Residential Letting Agents (ARLA).

Register with the uni accommodation service Being on the university database is an easy way to advertise a property directly to students and offers them a quick, hassle-free way to access property details and managing agent’s contact details.

Be aware of health and safety regulations Landlords should pay particular attention to the HMO Licensing and Housing Act legislation to ensure that they comply with the rulings and any recent amendments. Those renting flats to students should check this information carefully as some are exempt from certain clauses.  

Insert a clause in the lease to allow for potential damage This will allow for circumstances where students fail to follow the procedures required (for example, where damages are caused). Students should be given a clear inventory and a flat inspection should be carried out the first day of tenancy so that breakages or damages can be noted at the end of the term. A list of emergency numbers and useful contacts and dates (e.g. ‘bin day’) can also prove very helpful.

Get referencesTenants must have a reference from their previous landlord. An untrustworthy tenants means hassle, worry and expense. Make sure the rental contract clearly states when the rent is due – and in what format – to help avoid any problems over rent payment.

Consider what a student needs Student properties don’t need to be cluttered with accessories that are more than likely to be broken during the course of their tenancy. The interior should be comfortable, clean and functional with desks, chairs, bookshelves and lamps in each bedroom.

Avoid false economies Though no one would advise buying expensive carpets, curtains or sofas, the furniture provided for students does need to be hardy and able to withstand a bit of ‘wear and tear’.

Get building insurance This is important for all buy-to-let properties. Make sure your property is adequately covered – even something as small as a burst pipe could end up causing thousands of pounds worth of damage. Building insurance will sometimes cover a limited amount of public liability, so landlords should check the wording of agreements carefully.

Sort out council tax forms Properties occupied only by students are exempt from council tax. Ensure all tenants fill out the relevant forms and return them as soon as possible.

mform.co.uk analysis reveals average first-time buyer could be borrowing £200,000 by 2012.

Analysis of industry data by online mortgage company mform.co.uk reveals that between 1996 and 2006, the average mortgage taken out by first time buyers has increased by 173.6% or around 10.7% a year.  If this continues, mform says that by 2012, the average mortgage taken out by a first-time buyer will top £200,000, up from around £120,500 today or £39,811 in 1996. 

Year    Estimated median first-time buyer mortgage    
2008    £133,468.32   
2009    £147,746.94   
2010    £163,553.11   
2011    £181,050.25   
2012    £200,419.25   
2013    £221,860.37   

Francis Ghiloni, mform.co.uk marketing and business development director, said: “First- time buyers increasingly need to find huge sums of money in order to get on to the property ladder.  For a first-time buyer to take out a mortgage that is three times their salary today, we estimate that they would need to be earning £40,190, but by 2012, it would need to be a staggering £66,806.

mform.co.uk, which allows customers to compare mortgages based on the true cost including rate, fees and other features, says that many first-time buyers can dramatically cut the cost of their mortgage by making sure that they search the entire market for the best deal for them.

mform.co.uk offers consumers a free, unique and innovative online service enabling them to conduct the most comprehensive search of mortgages available. It allows people to identify all of the key features and benefits of every mortgage, and calculate its true cost in terms of rates and charges. This helps consumers develop a personalised list of best-buy mortgages that meet their specific needs.
The search process is free of confusing sponsored links and there are no distracting adverts from lenders during the mortgage search process. mform.co.uk is completely independent and it feels that adverts might unfairly influence a person’s choice of mortgage. Users of the service are able to link through directly to lenders’ mortgage application departments.
The service, which is free and easy to use, can be found at www.mform.co.uk.

Property investors are gaining in experience and confidence, according to a specially commissioned London Landlords’ Day survey from Landlord magazine. Even as the stock market felt the effects of the US sub-prime crisis, the reponses point to was optimism in the market.

Among the findings of this survey was the fact that readers of Landlord are fairly evenly divided in terms of the value of their portfolios; 21 per cent own between £250,000 and £500,000 worth of property, while the same percentage controls a portfolio spanning the £1 million to £2.5 million range and a further 20 per cent bridged the gap with ownership of property totalling between £500,000 and £1 million.
Among the remainder, representing the extreme lower and higher ends of the value spectrum, only six per cent owned under £100,000 worth of property, while a surprising number possessed a portfolio of £2.5 million to £5 million (nine per cent) and nearly as many (eight per cent) owned over £5 million worth.
The ratio of male to female readers is 65:35 and the average reader owns 9.5 properties.
Concerning the recently introduced tenancy deposit protection (TDS) system, almost half (49 per cent) of those who have agreed an AST since its April start have used Deposit Protection Services, while 17 per cent have opted for Tenancy Deposit Solutions. Nearly a quarter (24 per cent) have opted not to take a deposit at all, and nine per cent prefer an insurance-based alternative.

Optimism is the rule of the day for Landlord readers. Forty-seven per cent of the landlords expect positive performance from the private rental sector over the next 12 months, while 14 per cent expect very positive perfomance and three per cent go so far as to say the future is extremely positive. Thirty per cent expect no change, while six per cent are expecting poor performance.

De-cluttering expert Sue Kay found herself drawing on the advice she gives to clients as she traded her East Finchley home for a central London pad. Johnny Turner talks to her about the move, our shopaholic culture and the psychology of having too much stuff.

In this must-have, must-shop world it is worth stepping back occasionally and wondering why we have accumulated what we have. When I moved six months ago, I went through two culls of paperbacks and still had two copies of some novels; ridiculous as it sounds, I couldn’t decide which cover I liked better.
And a pile of VHSs when I no longer have a working VCR?
Which leads me to a catchphrase that, however inappropriate when considering the clutter of others, is very tempting to use when looking at my own: ‘How sad is that?’

Sadness, of course, cuts to the heart of why it is difficult to let go of things. For Sue Kay, de-cluttering expert and author of two books on the subjects, a degree in psychology is a useful tool when dealing with clients. ‘It is emotional,’ says Kay over the phone from her new Marylebone home. ‘You’re coming across things from your past – maybe you’ve lost someone or had a difficult breakup.’
As in the song ‘These Foolish Things’, mementos trigger longing for what was: ‘A cigarette that bears a lipstick's traces / An airline ticket to romantic places / And still my heart has wings …’
So why should we part with what makes us nostalgic? ‘You’re moving your life forward, and to do that you have to let go,’ she says. But this forward motion is not without a price, as we all know. ‘There’s a always a tweak – and a tweak for me may be a pain for someone else.’

Our homes have emotional power in our lives; the need to feel secure is, after all, one of our most basic driving forces. Sue is very aware of this and with her easygoing, friendly style she makes it easy to look honestly at your habits with regard to your possessions. ‘I’m not here to judge or bully you,’ she says. ‘I would never tell you to get rid of something that’s important to you.’ The key to the de-cluttering process, says Sue, is ‘standing back and looking at something and asking “why?”’
I wonder whether, in moving from quickly gentrifying north London to Marylebone, an area that boasts a peculiarly urban mixture of the cool and the chaotic, she found herself having difficulty living by her own teachings?

‘I could feel the piles of paper starting to build up for a while – that feeling of, where are things? It’s good to reconnect with that.’ Somehow I doubt those piles of paper got too high, for she is a true believer in letting go of things that don’t serve a purpose. Clutter, according to Sue Kay, is defined as ‘things you no longer use or love’. Many people have a mistaken idea of the process, she finds. ‘Sometimes they confuse it with being puritanical but it’s not that at all. Being organised doesn’t mean you’re not a free spirit.’
And just as hoarding ‘things’ is a habit, so is that reflexive feeling of being quite content to dispose of things that fit the above definition. And at the heart of this philosophy, says Kay, is the ability to take an honest look at ourselves and why we feel the need to ‘over-have’ if you will - not to mention investigate the modern mania for shopping, owning, collecting, three ways of validating ourselves in a way that rather misses the point of validity.
‘Were all struggling with the way we live,’ she says. ‘Fast, furious, constant consumption. It’s hard to stop, hard to say enough. I can’t do IKEA – I get muddled and buy the wrong sizes, then I have to go back, which is not what I want to do!’

She has found the property market has a bearing on her work. ‘We’re living in extraordinary times, when people have all this stuff and don’t have a bigger home.’ And it works the other way around as well – after all, clutter is a good way to drive away prospective buyers.
The green movement is a sibling of the Sue Kay philosophy – and surely the best way not to waste things is not to gather too many things to begin with. Surprisingly, however, in some ways she has found her work complicated, not eased, by the new green awareness. ‘I’m pro-green but it adds an extra level of stress to de-clutter ethically.’ She laughs, ‘I got an email about old pill bottles: “What do I do with these?”’

With her client visits she is very careful not to judge; rather, she acts on empathy and frames her work in terms of the good it can do. ‘It’s my job not to feel overwhelmed. You have to manage their expectations.’ The most difficult consultations are when people veer strongly to one extreme or the other. ‘Either they have to agonise over everything or they want to throw everything away.’
She treads lightly when helping a client with those possessions that trigger particularly personal or painful feelings and memories. ‘When you come across your dead husband’s bus pass – that can be agonising.’
It is natural to feel vulnerable when clearing away life’s detritus, she says – particularly in the presence of a stranger. ‘People get very defensive and worried. It’s like someone seeing your knicker drawer – your muddle and your mess. Things you hide from the outside world, like if you haven’t paid your bills for six months.’

Having written two books on de-cluttering, she would now like to dig deeper into the psychological basis of keeping things well past their use-by date, and how this ties in with the all-consuming consumer culture. ‘Everything’s so cheap, we’re living in this Primark culture. Is it making us happy? I’d like to look at that. If somebody gave you a great CD, you’d enjoy it. If they gave you three – that’s nice. But ten? You start thinking, God I can’t cope with this!’
For now, though, she has taken a month off and is getting to know her new neighbourhood. ‘It’s certainly lively. I’m down towards the Edgware Road part of it – it’s lively , it’s noisy. I’m between Marylebone High Street and Oxford Street.’ One of the most cluttered areas of the capital, I can’t help but think.

Sue Kay’s books, No More Clutter and Hoarder To Order, are available at bookshops and online. Visit nomoreclutter.co.uk

Mary Anne Bowring, creator of Leasehold Support, advises leaseholders how to deal with rogue freeholders

The freeholder has a responsibility to the lessees and should comply with his schedule of covenants such as keeping the building insured, carry out necessary repairs to the structure and ensure that communal service are maintained.

However, leaseholders can be at the mercy of the freeholder who can take advantage by charging inflated prices for insurance and requesting unjustified service charges. Due to lack of awareness of their legal rights, leaseholders are often in a state of limbo and continue to pay the service charge and building insurance even though little is being done. If that isn’t bad enough, some freeholders simply cannot be traced – which makes it impossible to sort out maintenance issues such as communal areas not being cleaned or a leaking roof.

Leaseholders can claim their right to manage to take charge and stop poor management of the block. However, this is only possible if 50 per cent of the leaseholders in the block support a right to manage movement. The same applies to buying the freehold which again could solve the problem of an absent rogue freeholder. Provided two-thirds of the flats have long leases and 51 per cent of the ‘qualifying lessees’ participate you can force the freeholder to sell you his title.

Unfortunately, for a lot of leaseholders gaining support from the rest of the block is an issue. The recent buy to let trend means many flats are owned by investors who remain nonchalant when it comes to the repair and maintenance of the block or have passed the buck to a letting agent. For example, Ringley’s legal services team has just dealt with an absentee freeholder case where only one of the flats in a block was actually occupied by the leaseholder, with the rest rented out. This created a nightmare for the resident leaseholder as she couldn’t drum up any support from the other leaseholders about the state of repairs as they didn’t live there.

If getting 50 per cent of the block to support the right to self manage or buy the freehold is out of the question, don’t worry – there is another option. If you are concerned that the block is falling into disrepair and the freeholder isn’t managing the block effectively then you can apply to the Leasehold Valuation Tribunal to request they appoint a managing agent of your choice.
Before you apply, you will need to select an agent that has sufficient expertise to satisfy a tribunal that they are fit to fulfill the role of court-appointed manager, able to take over the role of the freeholder and abide by the schedule of covenants set out in the lease.

Requesting a court-appointed manager is different to claiming your right to self mange, as there is a need to prove the freeholder is at fault. In order to persuade the tribunal to appoint a manager, it is necessary to justify your reasons why such a course of action is reasonable and would be in the best interests of the block as a whole.
It is possible to present your own case at tribunal if you have a good understanding of your lease and can find the relevant clauses of which the freeholder is in breach. However, you will need to provide supporting material such as visual evidence of disrepair, works for which you feel you have been overcharged or unauthorized alterations and a record of all unresolved disputes. It is also necessary to produce copies of service charge accounts which do not comply with the Landlord & Tenants Acts.  
If you are not confident in presenting your own case then its better to enlist the support of a managing agent, typically a firm of chartered surveyors who have the necessary experience. To lodge an application with the Leasehold Valuation Tribunal costs between £150 and £350 depending on the number of dwellings in a block. At the tribunal, each party bears their own costs but if the tribunal feels that one or both of the parties is wasting their time or not following directions on the information and evidence to be heard it does have the power to award costs of that part of the hearing.

Mary-Anne Bowring is founding director of Ringley Chartered Surveyors and a member of the RICS and the Association of Building Engineers. The Ringley Group subscribes to the RICS ten- minute free consultation service on this topic. To get the ball rolling, feel free to call 020 7267 2900 and ask to speak to Mary-Anne Bowring or Teresa Tuck

Many of us are looking to make positive life changes. What some don’t realise is that the new homes market has many ways to make your dream a reality. Johnny Turner examines just a few ways people have improved their lot through property.   
  
As summer fades, we tend to get serious again, looking for things to do post-holiday. Holidays give us the chance to reflect on where we’re going in life, and it’s during this type of introspection that we begin to see new goals emerging.

When these goals have to do with financial security, or the desire to see a leap in your money fortunes, a lot of people in Britain rightly see property as the way forward. But where to look when you’re trying to build wealth in this famously expensive, potentially risky sector?

Of course, money is not the only goal worth aiming for. Many of us want to make a start in a new environment or embrace a different rhythm of life. In this, finding the right property can also be crucial.
The new homes market has a lot to offer the buyer who wants to move on in life. From very lettings-friendly investment apartments to homes that offer space and luxury, you’re bound to find something that will help you on the way to a new way of living.       
Get on the ladder

According to the Council of Mortgage Lenders the number of first-time buyers in 2006 dropped by eight per cent as soaring house prices and rising interest rates keep young people out of the market. With affordability at its lowest level in 16 years, new buyers are struggling to get on the ladder.
However this didn’t deter new purchaser Sarah Churchill in the quest to find her first home. Despite being a key worker and being offered government support, she wanted to own her first home. So she joined forces with her brother to buy a two-bedroom apartment at Crest Nicholson’s Market Quarter in Tonbridge.

Churchill, a teacher in Otford, says, ‘Being a teacher classifies me as a key worker and makes me eligible for government assistance. However, I wanted to own 100 per cent of my property and the schemes I looked into only offered part ownership. So my brother and I decided to buy somewhere together. I have noticed the difference in property prices in the last few years. I looked into buying property in 2001 and comparing the prices then to now shocked me. Although the prices were daunting it didn’t put me off. By buying with my brother I knew I would be more able to find the ideal first home.’
Originally from Sevenoaks, Churchill first searched there. ‘Nothing caught my eye. I also viewed a property in Tonbridge but it didn’t meet my expectations.’ Spotting Market Quarter she viewed the show house: ‘I instantly knew that it was what I wanted. We then reserved a two-bedroom apartment off-plan. The apartment was ideal as it has two similar-sized bedrooms so neither my brother or I had to fight over who were to have the bigger bedroom. The flat also offered two bathrooms so we wouldn’t need to share.’

Buying off-plan also let the siblings have a home that suited their tastes. ‘I was able, among other things, to choose the worktops in the kitchen and the tiling in the bathrooms,’ she says.
With a straightforward commute to the school where she works in Otford, and a young, lively atmosphere in the town centre where Market Square is located, Churchill is sold on the location.
Besides two-bedroom apartments, the development also offers two- and three-bedroom houses. Every home includes large open-plan dining and living areas with a fully fitted Commodore designed kitchen including a selection of integrated appliances. Master bedrooms benefit from en suite facilities and a second bathroom serves the remaining bedrooms. Some properties feature an additional study/office area and all homes offer parking.
Apartments start at £245,000 and houses are priced from £340,000.
Call 0870 750 4890 or see crestnicholson.com.  
   
Follow your dream

After her divorce, Nina Stratford, a 51-year-old mother of two originally from Essex, decided to relocate from Devon to Chelmsford to start a new life – and to follow her dream of becoming an actress. And buying at Higgins Homes’ development The Hub was instrumental in this life change.
‘I really needed to find out what I wanted to do with my life and where I wanted to be,’ she says. ‘My children persuaded me to follow my heart and train to become a professional actress, so I needed to be near to London. I was born and bred in Essex, so it seemed a natural choice to come back here. I had viewed a couple of other properties but after viewing the show apartment at The Hub, I literally fell head over heels and I just had to have one.’

The type of home was also a change for Stratford. ‘I have never lived in an apartment before, so I was a little bit anxious about feeling hemmed in. However, due to the glass terrace that stretches across the front of the building, it feels extremely open and light.’
The location is absolutely fantastic; it is very easy to get into central London and the shops in Chelmsford are literally on my doorstep. Buying in Chelmsford also meant I could get much more for my money – 871 square feet to be exact, which is very spacious for a two-bedroom apartment. I really feel it is a great investment as well as a beautiful home and I cannot wait to move in and start my new life here.’

The Hub comprises 72 one and two-bedroom apartments and penthouses, a number of which overlook the River Chelmer. All apartments at the award-winning development incorporate spacious open-plan living areas with large windows, which provide a bright and stylish space for socialising. The tiled kitchens, designed by Urban Myth, incorporate Smeg appliances including a stainless steel electric oven, gas hob, integrated fridge/freezer, washer/dryer and dishwasher.
Only a short walk from Chelmsford Station, The Hub is an ideal location for commuters and those who wish to pop into the capital for shopping or a night out. There are regular direct trains which reach Liverpool Street station in about 40 minutes.
Prices start from £215,000 for a two-bedroom apartment and the penthouses are priced from £499,500. Contact Higgins Homes on 01245 493607 or visit higginshomes.co.uk.
     
Cut the commute

When David Kerr and Andy Pearce set out to buy their first home the commute had to be right. David needed to be close to Gatwick Airport, where he works as cabin crew, and Andy, who travels extensively as a regional retail manager, was looking for somewhere within easy reach of the M25.
At Barratt’s Woodfield Lodge, a small development of one- and two-bedroom apartments about a mile from Crawley town centre, they found the ideal location – and a great deal more!
Its location, near the town centre, around five miles from Gatwick airport and less than two miles from the M23, tipped the balance and David and Andy didn’t take much time to decide to buy the apartment. The icing on the cake was when they won a scooter in Barratt’s prize draw at the open day!
Kerr says, ‘Our parents are very impressed that we’ve managed to get on the property ladder in the south of England. It’s no mean feat!’

Their new home is a two-bedroom apartment with a large open-plan living/dining area that has plenty of room for entertaining and opens on to a balcony. The apartment has two bath/shower rooms, one of which adjoins the master bedroom. The smart kitchen is fitted with a stainless steel oven, gas hob and extractor hood and also has a free-standing washer/dryer. ‘We’re really excited about our new home. We particularly love the large open-plan living space and balcony, and having two bathrooms means we both have plenty of space,’ says Andy.
Only 15 two-bedroom apartments remain at Woodfield Lodge, with prices starting at £194,995 for a one-bedroom apartment and £231,995 for a two-bedroom. Special incentives are available for first-time buyers.
For further information, and to view the two show apartments, contact the marketing suite on 01293 532771 or see barratthomes.co.uk.   
  
Find the perfect family space

Yes, moving house is stressful – but just consider how Debbie Studart felt. The 37-year-old and her family completed her move to a brand new home at Redrow's Kennet Heath development in Thatcham, Berkshire while continuing to work four part-time jobs: as a chef, cleaner, estate agent negotiator and checkout assistant at Tesco.
She says, ‘It's been real hard work making the move while working and we're still settling in. But myself, my husband Matthew and our two-year old-daughter Ruby-Mae are all really pleased with our new home.

‘As soon as we saw this house we knew it was exactly what we wanted, at a price that was within our range and in a great area. Plus Redrow allowed us to part-exchange our old home.’
The Studarts’ move, into a four-bedroom, three-storey Ribble home, went successfully – but Studart is not sure she would want to go through the strain again. ‘This is the third time we have moved now and I'm not sure if we will do it again. One thing's for sure though: if we do it won't be for a very long time. Luckily this home is the perfect place for us to stay put.’
She is very impressed by the layout of the home, she says. ‘Now that I have three floors I wouldn't swap back.’ And with four-bedrooms, the Studarts can have another child without worrying about space. ‘All in all I'm really happy that we've made this move, and I think Kennet Heath is going to be a perfect place for us to bring up our family.’

Kennet Heath consists of a variety of different properties to suit the requirements of many different home buyers. Currently available are two-bedroom Tunstall apartments priced from £194,950, and a variety of four-bedroom homes, ranging from a detached Ribble (similar to the Studarts' new home) from £294,950, up to a Walkham, priced from £334,950.
Thatcham, one of England's oldest towns, offers great transport routes to Newbury, Basingstoke and Reading, and with the M4 close-by, London and all points west are also very accessible.
Visit the development, located on Station Road and open daily 10am to 5.30pm, or call the sales consultant on 01635 863026. Go online to redrow.co.uk.  
   
Go back to uni

When your kids flee the nest to enter higher education, you can feather your own nest by investing in their uni accommodation. The competition for accommodation in university towns is strong, says Lee Grandin, managing director of Landlord Mortgages.

‘With stiff competition for rented accommodation in university towns, investors are faced with a captive audience, meaning that this type of buy-to-let investment can prove highly profitable.
‘Rather than fork out to line the pockets of other canny landlords, buying for your child’s higher education has three-fold benefits; potentially making a handsome profit; security in the knowledge your child is living in good accommodation; and choice over your child’s flatmates.
In Bristol, one of the UK’s most popular buying destinations, there are a number of high-style apartment schemes that are proving both investor- and student-friendly.
Major regeneration plans currently changing the landscape of both the city centre and outer suburbs, promising to create a premier place to live, work and visit. This fact is not going unnoticed by many home buyers who are keen to invest in the city.

Linden Homes’ Vibe on Waterloo Road in Old Market, is a vibrant collection of 108 one-, two- and three-bedroom apartments – and it is little wonder that it has already secured 43 off-plan reservations. Meanwhile, from the same developer, Zenith in St George is a trendy scheme of 67 one- and two-bedroom apartments, with 18 now reserved.
For further details on Vibe or Zenith call 0117 9458435 or visit lindenhomes.co.uk.