Why rent when you can buy?

Wed, Feb 1st 2006, 11:00

Renters could save nearly £40,000 by buying their own home instead of living in someone else’s, according to research by a high street bank.

The findings of a 2005 Abbey survey have shown that over a period of 25 years, the average tenant will pay out £37,000 more than those who buy their own home.

The good news for renters who are looking to buy a home in Sittingbourne is that house builder Redrow has a range of properties to suit the first time buyer at its Kingfishers development, off Jacinth Drive.

Redrow’s two-bedroom Canterbury property, with prices from £151,995, is perfect for those who are tired of lining their landlord’s pockets and want to start paying their own mortgage.

Likewise the Fairwood, with three bedrooms is also within reach of first time buyers, priced at just £165,995.

Pam Reardon, sales director for Redrow Homes (Eastern) said: “The saving that can be made from buying a home instead of renting is huge. Why rent a similar property in the same area for £650 per month when you can probably buy one for a substantially smaller monthly payment?

“Today’s home buyers prefer to have a stylish modern home to show for their money and at our Kingfisher’s development in Sittingbourne, this is possible. The savings made could be even bigger too, as we’re offering a helping hand by paying the 5% deposit on selected properties.

“The Canterbury or the Fairwood are just right for first time buyers looking for that perfect, affordable home. These properties are ideal for securing a place on the property ladder and give the security and peace of mind you don’t always have when renting.”

The Canterbury’s layout comprises a lounge/dining room, fitted kitchen and wc/cloakroom on the ground floor, while upstairs are the two double bedrooms and a family bathroom. The Canterbury home also comes with a single garage.

Meanwhile the Fairwood boasts a spacious living/dining room, kitchen and cloakroom downstairs. Upstairs are the three bedrooms, with an en-suite bathroom to the master, and the family bathroom.

But Kingfishers is not just suitable for first time home owners. Buyers at other stages of the property ladder will find plenty of choice among a range of three and four-bedroom homes, with prices from £165,995 to £229,995.

All the homes at Kingfishers are finished to a high specification, including a fully-fitted kitchen and an elegant white family bathroom with chrome finish fittings for a contemporary look. There is also the added luxury of fitted wardrobes to the master bedroom.

Kingfishers is situated in the superb commuter location of Sittingbourne in Kent. The local railway station is within a short distance from the development and provides a regular service to London in an hour-and-a-half. The UK’s leading retail and leisure centre, Bluewater, with over 330 stores, 40 cafes, bars and restaurants plus a 13-screen cinema, is also only 30 minutes away.

To find out more about the special incentives for first time buyers, visit the Kingfishers marketing suite, open daily from 10am to 5.30pm, call the Redrow sales consultant on 01795 428 42.